How are your money making strategies going?
I haven’t talked about this for a while so I thought a quick post was in order.
Most people trying to make money online start off with affiliate marketing – selling other people’s products.
Getting this set up is a challenge in itself.
But once it is set up many people realise they are better off selling their own products.
This is not to say that affiliate marketing is a bad thing; it’s fine to start off with. But, long term, you are probably better off selling the products you make yourself.
You Want Control
Part of the reason that selling your own products is better is that you have much more control of your market – and your marketing.
When you are selling somebody else’s products you rarely end up “owning” the customer. In other words, you can’t sell them more stuff later.
You can be clever and capture their email address before you send them to the affiliate product sales page. But 99% of affiliates don’t do that. And it is not straightforward to set up.
In this article I’ll talk a bit more about affiliate marketing. In the next one I’ll talk more about having your own product.
Affiliate Marketing to Make Money
Here are a few considerations to bear in mind when choosing products to be an affiliate for.
- Try and stick to one or two niches.
- Try to find products which are “recurring” – for example, monthly memberships
- Only recommend products which you can get behind 100%.
1. Try and stick to one or two niches
The reason I say this is that if you get to the point where you do manage to capture visitors’ email addresses, and you should, having them in the same one or two niches makes it much more convenient to send them additional sales emails.
Let’s say you are in the photography niche. Then you can build up a list of people interested in cameras – and also, by extension, they will likely be interested in projectors.
So if you find a projector you really like you can tell your list about it and work out a way to make a commission on the sale.
On the other hand, you can make some videos, or write an ebook, about photography and this can be an evergreen training which you can sell to anyone you get on your photography list – for years to come.
2. Products which are recurring
If you sell an affiliate product. You might make $20, $50, $100. But if you sell a membership you can make a lot more than that.
Some people who have bought a membership through my affiliate link have been members for 18 months or more. In some cases that has earned me over $300. So try and find recurring income when researching your affiliate products.
3. Recommend products you genuinely like
This recommendation shows my own bias: customer service.
I think that pleasing customers is not only the most satisfactory way to do business, but also the way to earn the most money.
After all, a customer who buys off you for 10 or 20 years is going to make you a lot more profit than one who buys off you 1, 2 or 3 times then goes elsewhere after realising the poor quality of your recommendations.
I have customers who have been buying off me for 20-25 years. My reputation is very important to me. So I would never recommend anything dubious.
Think of your customer as a friend: ask yourself: “Should I be recommending this product to them?”
If so, then recommend it wholeheartedly and they will not mind you getting a commission.
Some customers will even say: “Please send me your affiliate link for product xyz – I’d like you to get the commission for the sale.”
Even better, write an article or record a video showing them how to use it in the best way. You can even use this as a bonus – maybe to send if they buy the product.
The Problem with Affiliate Marketing
The problem with affiliate marketing in general is that you are constantly sending customers to the vendor of the affiliate product.
That’s not really ideal for you. As I said, you are better off capturing their email address so you can email them again later sending them other information – and other sales messages.
I will look at doing this, by creating your own products, in the next article.
The Best Teachers of Affiliate Marketing
If you want to make money with affiliate marketing don’t try to do it by yourself. It’s harder than you think!
Get the help of someone who knows what they’re doing.
I recommend Chris Farrell, Kelly Felix, Rob Cornish and Ken Evoy.
Chris Farrell runs the Chris Farrell Membership site and his members absolutely love him. Users have voted him number one at the influential IMReport Card.
When your members say you are brilliant, you have to be doing something right!
Bring the Fresh
This is the brainchild of Kelly Felix. Kelly is a brilliant Internet marketer who was hugely successful when I read his stuff – 15 years ago. Did anyone come across “The Rich Jerk”? This was Kelly Felix’s cartoon creation, making fun of successful internet marketers (like Kelly) and was really funny.
Ironically, Kelly “crashed and burned” when the success overwhelmed him.
But we are all allowed one mistake, right? He got over that and created the “Bring The Fresh” membership site to teach you affiliate marketing – among other things.
Kelly is a great guy with a refreshing style.
Ken Evoy is a legend among Internet marketers.
15 years ago he was writing fantastic, informative, unique books about how to build sites and how to rank them.
Then he created a system specifically to help newbies set up their own sites. He called it SiteBuildIt.
He was setting out to make it easy for the “clueless” individual to be able to get a website up and running and selling stuff in the shortest time possible.
Ken Evoy is a really decent guy and can be trusted completely. He makes it really easy to be successful online – in a highly supportive environment.
Gain Higher Ground
If you stick with Rob Cornish you really can’t go wrong.
Rob is a personal friend who I see three or four times a year at various Internet marketing events. In fact, as I write this, I’ll be seeing him next Friday. He is very genuine and only wants the best for his members at Gain Higher Ground.
The good thing about Rob is that he teaches multiple “routes to market”.
So, although he definitely teaches affiliate marketing, he also teaches you that there are a number of other ways to make money online. And these are all taught, really accessibly, in his low-cost membership.
For most people it pays to learn step by step. So I recommend you get your affiliate marketing skills honed first, then you can move on to making your own products.
Get stuck in to the training of the person you choose: and don’t get distracted.