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Affiliate Programs : Golden Opportunity or Waste of Time?
y: Steven O. Ng |
| Now that the idea of doing business over the internet has been firmly established, many potential internet businessmen are searching for the best way to do business. Usually the choice comes down to whether you want to set up your own business and online store, or sign up for an affiliate program. First of all, let's define what we mean by an affiliate program. An affiliate program is basically an internet business set up by someone else. They could be selling physical goods, education, information or any other products that can be sold online. By signing up as their affiliate, you are helping them promote their business or store. In return, they will pay you a commission for each sale you bring them. The amount of commission varies between different affiliate programs. Examples of affiliate programs include Amazon.com and Wordtracker, which you can visit at: http://www.onlinebiz-help.com/links/wordtracker.html 1) EARNINGS So how does an affiliate program differ from starting your own online store? Let's start by looking at the potential earnings. (After all, the main reason everyone wants to start an internet business is for the money). When you sign up for an affiliate program, you will be paid a commission for each sale you refer to the online store. This commission can range from 5% to 15% for physical products, and possibly up to 50% or more for virtual products such as subscriptions and ebooks. On the other hand, if you start your own store, your profit can be much higher. For virtual products, your profit can be 100% of your selling price. After all, once the newsletter or ebook is created, you do not need to spend any more effort. When someone buys your ebook, they just download it from your website. If you are selling a physical product, your profit depends on whether you are manufacturing the product yourself, or buying from a wholesaler or dropshipping company. Your profit in this case could easily be more than 40% or 50%. So, if you only consider the potential earnings, starting your own business is more lucrative than joining an affiliate program. 2) LOGISTICS However, money isn't everything (Or so they say). When you are starting your own internet business, there are a number of logistic issues you need to look at. Here are a few things you would need to take care of: a) Create your website b) Design your product (if you are selling new products) c) Create your product (if you are selling new physical products, or any virtual products) d) Set up an online store e) Set up a merchant account or payment gateway f) Set up a warehouse or storage space (if you are selling physical products) g) Have procedures and staff ready to fulfill orders h) Set up an affiliate program to get others to market the products for you i) Monitor for fraud j) Monitor stock levels As they say, "No pain, no gain". Having your own store pays very well, but requires a substantial time investment from you. On the other hand, if you sign up for an affiliate program, all you need to do is set up a website to promote the program. All the ads, banners, marketing text etc will be provided to you by the affiliate program. Your only responsibilities would be to get people to visit your website, and hopefully click on the affiliate links to buy the products that you are promoting. 3) CONVERSION Whether you have your own business or are promoting an affiliate program, the bottom line is the conversion rate, or the percentage of visitors that actually buy something from you. A number of factors influence this conversion rate. Factors as quality of the product, quality of the website, customer support are all important. However, I personally believe that the most important factor is trust. When a potential customer arrives at your website, he will need to trust your site enough for him to be willing to buy from you. After all, on the internet you are just a faceless salesman. He doesn't know who is actually running the site and whether he will actually get the goods that he orders. Having said that, one of the key methods of garnering trust is by recommendation and referral. If a store is being referred to or recommended by another website, the potential customer will feel that the store is trustworthy. After all, if the store is not trustworthy, why would the other website recommend it? This is where affiliate programs shine. When you refer a potential customer to the store for which you are an affiliate, the customer will feel more relieved, since the store is being recommended by your site, a 3rd party. The customer will be more likely to buy from the store, benefiting both the store, and you as well. There are both pros and cons to joining an affiliate program. You might earn less with an affiliate program compared to starting your own store, but I believe the benefits of not having to be responsible for the logistics makes affiliate programs are very viable "passive" source of income. For more information on affiliate programs, do visit http://www.onlinebiz-help.com About the Author Steven is the webmaster of http://www.onlinebiz-help.com - Your Guide To Internet Business. His website contains various resources on affiliate programs and internet marketing advice to help you succeed in your internet business. |
Working With Affiliate Programs
Everywhere you look you see affiliate program offers forevery product or service that you can think of. Some have
fully automated systems that sell high volumes of hard
products all over the world. In case you don't know, "hard"
products are those that you can touch...unlike an ebook or
downloadable web template. Many affiliate programs have
several thousand affiliates and one or two of the bigger
companies have over one million affiliates.
What are the advantages of joining an affiliate program?
They provide a ready-made business. This is a very big plus
for those people who want to earn some kind of living off
the Internet but lack the knowledge or inclination to set up
a business by themselves.
Commissions and rewards are generally good, and the more
established programs offer a real chance of advancement to
higher and better-paid levels.
Other affiliates are usually on hand to offer practical
support.
What are the limitations?
You are restricted in your promotional activities due to the
fact that you do not actually own the affiliate site they
give you. You won't be able to put such things as banners,
images, links, meta tags, etc. onto your page.
The URL of your affiliate page is often either too long or
contains such awkward things as question marks, which many
Search Engines will not index.
Any promotional ads or articles have probably already been
used by thousands of other people and consequently may have
lost its impact, making it more difficult to achieve sales
or referrals.
If the program you have joined has not yet established
itself (or in some cases even if it has), then you may
encounter problems with payments owed to you not being
honored. You also run the risk of low quality products or
sub-standard statistics that do not accurately record how
many referrals or sales you have made.
You may be required to purchase a minimum quantity of the
product on a regular basis before you start to qualify for
commissions or even before you can become an affiliate.
You may not get the technical or affiliate support you might
expect from the company. This may be due to inadequate
staffing, or the company's negligence.
Other people in your downline do nothing to promote the
program.
At least four of the above limitations can be overcome with
a little time and effort. You could, for example, come up
with fresher ads to promote the program (provided this is
allowed).
If the company supplies the email addresses of people in
your downline, then you could offer to help the less active
members. Very often these people are passive not because
they are lazy or apathetic but merely because they don't
know HOW to promote effectively! your guidance could mean
the difference between no sales or referrals and healthy
downlines and residual incomes.
As regards promoting your actual page, here are a couple of
little tricks that should overcome a number of
restrictions:
Cloak your Affiliate URL to stop hijackers Affiliate Masker
While this will not help you to get listed on the major
Search Engines, it will make your web page easier for
prospects to remember and type into their browser's address
bar.
Go to your affiliate page. Place your mouse pointer anywhere
on the page and right click once. In the drop-down box
choose "View Source". This will display the HTML for the
page. Save this to your hard drive as a HTML document using
the "Save As" function. Upload the page to your web site.
If you don't have a web site then get some free web space
from one of these:
http://www.tripod.com/
http://www.fortunecity.com/
http://www.hypermart.net/index.gsp
http://www.coolchat.com/
http://www.crosswinds.net/
http://www.htmlpublishing.com/
http://www.freehomepages.com/
http://www.pageproducer.com/
Submit your 'new' page to the Search Engines. You are also
now able to place banner codes, links, images, testimonials,
in fact anything you want onto these pages, because you are
in control of the HTML. A word of caution, though. Don't
change the actual HTML of your original affiliate page. Just
put the other stuff, like banners etc, around it.
Making this "mirror page" of your affiliate page will
dramatically improve your advertising options.
Contact Email Address: publisher@aboutaffiliates.com
Word Count: 689
Category: Affiliate Marketing
Copyright Date: 8/16/04
Internet Address: http://aboutaffiliates.com/news/viewarticle.php?id=11
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