Affiliate marketing refers to a business relationship in which an online business or e-commerce site promotes the products of a vendor. The website provides a marketing service, and channels consumers to the vendor through a web link, banner ad or text ad on the site. If the customer buys from the vendor, the affiliate website owner receives a commission. To optimize your earning potential as an affiliate marketer, you must be able to select the best products for your affiliate website.
Step 1: Define the needs of affiliate marketing
Define the needs of your niche market. Since your affiliate products will target the market your website serves, your affiliate product selection should focus on the needs of that market. If your site offers information on pet care, identify the consumer needs of the typical visitor to your site. Make a list of all of the product types these consumers might regularly purchase, and what services and promotions will interest your regular site visitor. This list can help you identify the right affiliate products.
Step 2: Affiliate networks
Join a free affiliate network, such as Clickbank or Paydotcom. Affiliate networks like these offer free membership with registration. Once a program has accepted your registration application, you will receive a log in and password. You then can use the network to select affiliate products and programs for your website.
Step 3: A suitable product
Locate a suitable product category in your network by entering keywords (pet care, for example) into the search term field. You’ll then be able to choose from among numerous affiliate products. Research products within the results list to select the best options for your site. According to Internet marketing guru Allen Gardyne, never select a product to market before trying it out first. Know as much as you can about the people behind the product, and decide whether you can believe in it.
Step 4: Solve a relevant problem
Evaluate the products based on specific criteria. Each product should fit well within the context of your site. It should appeal to the needs or desires of your niche market. Each product should solve a relevant problem that visitors to your site have. The affiliate site to which you link should have a good sales presentation, clearly present the benefits of the product and be easy to navigate.
Step 5: The sales statistics
Review the sales statistics of the product to ensure that it’s a good seller. The affiliate network will provide these statistics, so you can evaluate what volume of sales you can expect with the appropriate marketing techniques.
Step 6: The commission percentage
Research the commission percentage for each sale. Some products will offer a whole dollar amount on sales or services, but most will offer a percentage ranging from 10 percent to 75 percent. Some products that offer the highest commissions are not always the best products. It is always better to select a product with higher volume sales and a lower commission versus a high commission on a product that doesn’t sell well. Try to select products that offer a residual commission, as well. That way you get paid for a long time after the initial sale.
Author: Malik Sharrieff, Demand Media