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If you recall Part 2 where we discussed affiliate programs, then you know they are simply an arrangement where a merchant agrees to pay you for a percantage of any sale that results from your recommendation.
You are doing these businesses a great favor by sending them potential customers.
So great in fact, most businesses who sell a product over the Internet will actively try to get people to join there team of affiliates, that is, to join their affiliate program.
What this means is you don't have to be all 'business-like' and have a meeting to discuss the terms.
Instead, you just find the page on their website for signing up to their associate program, fill out the form and presto, you are ready to go.
As part of the affiliate program, you will be provided with some way of sending visitors to the merchants site, such that it can be recognized you sent them (tracked).
In most cases this is achieved through an affiliate link. An affiliate link is a hyperlink which goes to a page in the merchants site AND contains an identification number specific to you.
Example:
http://www.merchants-site.com/product_A.html?yourID
The above link takes a visitor to the page containing product A within the merchant's site, and the '?yourID' part lets the merchant know the visitor came from you.
So if that visitor bought product A or any any other product on any other page within the merchant's site, you would receive a commission.
Depending on the product, affiliate program commissions range from 1-2% of the sale price, usually for very large and expensive products to as much as 75% for downloadable products like ebooks.
Sometimes its a flat payment for every lead (every form filled out or every email address etc).
A good 'rule of thumb' is don't bother unless you are going to receive a minimum of $15 in commission for each unit sold.
Some associate programs pay $30 per lead. Since filling out a form cost the visitor nothing, they are usually easier to get than the sale - but for this same reason, very competitive.
Also expect the following:
- Long duration cookie - even if the visitor returns to make a purchase a long time later, you still get the sale. 6 weeks as a minimum.
- Repeat commissions - if the visitor comes back to buy a 2nd, 3rd .. time, you still get paid.
- Recurring commissions - not always available, but if it is a monthly membership, expect to receive a commission on every monthly renewal.
Usually 95% of affiliate revenue for a merchant is generated by only 5% of the affiliates. So if you do a good job, they know it and they value you.. even though they may not want you to realize that.
In these cases you can negotiate a better arrangement directly with the merchant. I've negotiated deals returning as much as $320 per sale and the merchant doesn't mind because I send them many buying customers every month.
In a later issue in this course, I will show you exactly how to make money from affiliate programs.
If you can't wait until then, without question, the best resource currently available on making money from affiliate programs is The Affiliate Handbook by Rosalind Gardner.
She makes an absolute fortune and has written this very detailed guide showing exactly how she does it.
Check it out here:
The Super Affiliates Handbook
Next time we will be discussing Drop Shipping, a great way to sell real products without ever having to stock, send, touch or even see them.
Until next time, remember persistence pays off- BIG TIME
Your Friend
Murray G. Hughes.
Murray Hughes
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