This obstacle is really not in your control when it comes to affiliate marketing but the best thing you can do is promote a product with a higher payout of 60-80% as opposed to 25-50%. This way you will be making more income with less sales.
• Building someone else’s business. As an affiliate not only are you generating sales and profits for the vendor you are also helping them build their business instead of your own. chiropracticwestminster Once you make a sale and are paid a commission that customer is now in the hands of the vendor which can continue to sell additional products and services to that customer for the lifetime of their relationship.
– The best way I know of building your own business through affiliate marketing while also sending customers to the vendor is to set up a landing page of your own that requires the prospect to input their name and email before they get access to the sales page. This way the prospect is on your customer list as well and you can now email them future offers and affiliate products directly. Now of course you will have to provide an incentive to the prospect for them to enter their email like giving away a free report, video training, audio file, etc. We will touch on this in a future report.
• Lack of control. With affiliate marketing you really don’t have much control of anything but generating sales. Should the vendor/network decide to shut down or no longer sell the product you are promoting you are left back at square one. When it comes to product creation you have a lot more control of your business and can profits but we’ll be touching on that in a few.
– Unfortunately this is a huge downside to affiliate marketing and something you really can’t prepare for. Building your email list as mentioned before is the best way to ensure that you still have an ability to make sales with your current list of customers while you set up a new campaign with a new product.
There are just as many cons as pros with affiliate marketing but none of these reasons should stop you from getting started if it’s a business you wish to pursue. One important thing that you want to keep in mind is to take time to invest in your education and skill sets to put yourself ahead of the curve. By doing this you set yourself apart from the competition and a step ahead to making the sale.
If you are interested in learning more about affiliate marketing and jump starting your way to success visit my author resource box.
Now, just for a second picture yourself being the product creator and having an army of affiliates promoting your products as we move into the pros and cons of Creating and selling your own product.
Product creation can be a scary subject for many because as a newbie you are most likely skeptical and completely in the dark as to how an online business operates, let alone creating a product from scratch. But to your surprise it can actually be one of the easiest ways to make money online.
Let’s get into some of the pros of creating and selling your own product and see why it can be an avenue you consider:
• Control. When it comes to product creation you are in complete control of just about everything. You are in control of how you market your product, the price, its delivery, and you are in full control of every customer you bring into your business as well as any future purchases they make from you.
• Profits. Of course this is a huge reason why many people create and sell their own products. As a product creator you get to keep 100% of the profits from every sale you make. Now there is an exception to this when it comes to setting up your own affiliate program and having other affiliates promote your products but we’ll touch on the power of this next.
• Affiliates. Once you create your unique product you can choose to leverage others to help build your business. Setting up an affiliate program can be a powerful way to explode your business on autopilot. You can offer your affiliates a commission of 30-50% and have them sell their butts off for you especially if your product brings high value to the marketplace. Also you can make money while you sleep as you know your affiliates are working hard to make you sales.
• Building a Brand. Being the product creator gives you the opportunity to build a brand for yourself in the marketplace of your chosen topic. Since your product is unique you are able to name the product whatever you like and build a brand around that topic. This is very big if you want to build your business through word-of-mouth advertising which we all know is the strongest form of advertising.
As you can see there are also some great advantages to creating and selling your own product. You are in full control of everything, you will earn more money, you can build an army of affiliates, and you can build a brand for yourself and your business. But as in everything there is a downside so let’s get into that next.
Here are a few cons of product creation and how you can overcome them:
• Time. When it comes to your time, creating your own product will definitely take up more of your time then simply signing up as an affiliate. Not only will it take time to create your product, but you also have to create a website to sell your product from. And that can be a headache of its own which we will talk about next.
– The great thing about product creation is you can outsource just about every process involved in starting your business. You can literally pay a professional writer to write your information product for you and you take the credit for it. Of course you always want to proof read it and modify a bit to fit your personality and style.
• Websites. Once your product is completed you will not be able to make any profit unless you are able to get it published online. For some this can be your worst nightmare. This can cause you a lot of headaches especially if you are not tech savvy. This can easily cause you to quit or never begin to try to make money online, or it can cause you to have to hire a web designer to build a site for you which can be a few hundred to a few thousand dollars in cost. This leads me to my next topic.
– Again building a website can easily be outsourced to a web designer who can build you a clean professional website usually within 48-72 hours.
• Cost. When it comes to creating a product it can easily be said you will have more start up costs then an affiliate. When it comes to setting up your sales funnel you have certain costs like buying a domain, hosting your website, hiring a web designer to set up you site unless you’re doing it yourself, paying for the graphics to brand your product, etc.