Affiliate marketing programs have revolutionized the way business owners keep track and pay their affiliates. Welcome to the new age of online sales.
Hey, good day folks, I’m André Givogue, your friendly host here for CareerFH!
Affiliate marketing programs are the way to go if you’re trying to track which one of your sales people made the sale so you can pay them their rightfully earned commission. Before jumping straight into the topic, I just want to bring newer people up to speed on what is affiliate marketing.
Internet entrepreneurs sell their knowledge through courses mostly available digitally. It’s got a low overhead and huge profit potential. Once the business owner releases a new product, he could sell everything himself or he could get an army of sales people to promote his products.
In the traditional world, you’d call this your sales force but online, it works a little bit differently. Lots of blog owners or people of influence have large audiences and in order to monetize their efforts, they’ll partner up with an internet entrepreneur and promote his stuff.
We call this form of partnership “Affiliate”. So in our example here, the internet entrepreneur would release his new product with an opportunity for people to become his affiliate. The affiliates can then in turn have a product to sell and would get like 50% of the product sale.
In order to keep track of who signed up as an affiliate, who made how many sales and how much the “internet entrepreneur” has to pay them, he either works with affiliate marketing companies or uses an affiliate program software to keep track of everything.
It also does e-mail list integration, it also does list segmentation, changes an e-mail from a buyer to a different list, has shopping cart capabilities and can fully control affiliates. One of the best thing is that say your affiliates sends you a prospect, well this prospect is coded to that affiliate for all future sales.
Even if you send out an e-mail broadcast later on, the original affiliate’s code is still attached, hence making more money to your affiliates. The big boys with HUGE mailing list look for that. They’re not going to send their traffic for only one commission. They want to know that their buyer is assigned to them for life.
All that said, there are tones of affiliate marketing programs out there and I didn’t even touch on CPA (Cost Per Action) which very similar but totally a different topic on its own. Chose a program that best suits your needs today and as you grow and evolve, then you can upgrade to a different affiliate marketing solution.
What about you, which affiliate marketing programs seems the most interesting for your needs?
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