Have you ever thought about using your wordpress blog for business? Technology has improved at a rapid rate over the last decade and the internet is a major force behind technology. So the question here is, should you start an affiliate program to promote your products and services?
Lets look at the reasons which may influence your answer.
Firstly, you’ll need a website.
One of the easiest ways to do this is by starting a wordpress blog.
Simply choose a host, install WordPress in one click and then choose what content you want to display on the site.
Try and choose a overall topic you are passionate about and knowledgeable in. This way you’ll be good at it and find it easy to write short, compelling content that’s also entertaining and popular in your niche.
Trying to sell products and services for other merchants can be very challenging in the beginning so why not use a bit of the marketing genius inside you and partner with other like minded interested parties that all help contribute and benefit along the way.
Don’t waste the opportunity that the internet is giving you! With a little bit of hard work, focus and determination, you can build a very successful online business without having to fork out ongoing rent on a space in a building or monthly business expenses.
What are the major benefits of starting your own affiliate program?
- Partner with others to form an affiliate network globally that works to spread the word about your product/service
- Other bloggers can be motivated by money so they will help you promote and market your business for a financial reward
- More exposure normally equals more subscribers which increases sales and potential to offer more products and services in the future.
- New customers can end becoming lifelong customers who may only spend ten dollars this month but end up spending hundreds in the future.
- One of the least discussed benefits is links back from your affiliates blogs and websites to your wordpress blog. Every banner or affiliate link used by your affiliates contains your anchor text and a points back to your site. This is a huge added bonus that increases the authority and importance of your site in Google’s eyes.
- You may also decide to offer a 2 tier affiliate program that motivates existing affiliates to recruit more affiliates for you as they will receive a small percentage of the new affiliates sales ongoing.
Why you may not benefit from a affiliate program
Building an affiliate network isn’t the way to go for every business. Here’s a few reasons why you may not want to start your own affiliate program.
- Partnering with others online means giving away some control of how your product or service may be perceived by your market and industry. You may not like the way others write or talk about your brand so this may influence your decision to say no to starting your own affiliate network program
- Sharing your profit may just not be viable as your profit margin may already be very low and you may not want to give any more of it away and spend money on affiliate software, marketing materials and more web development to setup your affiliate network.
- Example: If you have produced an eBook and researched the market rate to be about $20-30 then giving away half of that only leaves you $10-15 per sale which may not be attractive considering the time, effort and expensive incurred completing your book.
- I have not found my own affiliate program for referrals to take up to much time once they are setup properly however others may decide it looks far to time consuming and decide not to start their own online affiliate program. Today’s technology, especially online software programs, are designed to save time and make managing your online business as simple and easy as possible.
How affiliate software helps you build your own affiliate network ?
Affiliate programs, also known as reseller programs, referral programs, associate programs and partner programs, help you get thousands of websites to drive traffic to your site in exchange for a commission on each sale that comes as a result. There are multiple benefits of using affiliate software to manage your sales force of affiliates including the following:
- Your don’t have to pay yours sales people until they make a sale
- Your affiliate software tracks all hits and incoming links
- You can offer pay per click, pay per lead or pay per sale
- Your affiliate software offers real time statistics so that affiliates can check their sales and commission without having to contact you directly every time
- Your affiliate software enables you to easily send your affiliate sales force newsletters and new marketing materials to keep them motivated to increase sales
- Makes it easy to add performance based bonuses and commission increases based on number of sales or dollar value
How much should you pay your affiliate sale force and why?
- It is much cheaper to acquire an existing customer than it is to attract a new one so don’t get greedy
- If the industry average is 50% don’t offer less as you can offer less on related follow products to your affiliates existing referrals.
- Know the numbers and what it costs you to operate and acquire a new customer
- Know what percentage of existing customers will buy related products that you recommend
I’d love to hear from others who sell products from their wordpress blogs. Do you offer an affiliate program? Why? Why not? What affiliate software do you use? When did you start your own affiliate program? Feel free to leave any comments or opinions in the comments below. If you have questions, i’ll get back to you soon.Subscribe to Free Tutorials