Mining For Gold With The Best Affiliate Programs And Hitting Pay Dirt
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Colin McDougall tinkered around with affiliate programs earning a few dollars, nothing much to write home about, even had his own e-commerce site, known as the man’s mall. In theory that site was supposed to offer all sorts of gadgets for guys. Colin created the site with the concept “build it they will come” but in reality no one did. Like so many dot.com ventures, it was a huge disappointment, lots of hard work and no pay off.
Colin says, “The man’s mall failed because I started the venture blindly, I didn’t have a clue how the search engines worked or how to make money with affiliate programs. Without an action plan and a map on how to get the gold it was all pointless. But not anymore, I hit the internet gold mine, a virtual moneymaking machine.”
Read on to learn the facts about affiliate marketing and how Colin went from failing on the Internet to making serious money with affiliate marketing.
Affiliate marketing is paying off for retailers
2003 online sales are bucking the retail trend. With traditional retail sales down, retailers are forced to do more with less. They’ve shifted budgets away from expensive portal deals to performance-based affiliate marketing and search engine marketing and it’s paying off. (Source: Forrester Research)
It’s no surprise that traditional advertisers such as American Express, National Geographic, Toshiba and even Disney are flocking to the emerging affiliate marketing model. Advertisers have a very low risk with affiliate marketing; they simply pay a commission for actual sales. No sales, no commission.
Affiliates love it too
Affiliates who understand the affiliate marketing business are earning huge incomes, even those who are doing it as a hobby, in many cases, are earning a few hundred to a few thousand extra dollars each month.
Jeff Pullen, President of Commission Junction, a third party provider of infrastructure and tracking told the crowd at a recent conference held in Santa Barbara that, “Commissions are up 80% over the previous year”. According to the Affiliate Summit, held in early November 2003 in New York City, affiliate marketing is already a $14 billion industry. (Source: Marketing Sherpa)
Online shopping is booming - the future is bright
Affiliate marketing works because the pay for performance model makes sense. Plus, people are flocking to the Internet in droves to shop online. According to Forrester Research, a Massachusetts-based research firm, nationally online sales are expected to total $96 billion this year and climb to $229 billion by 2008.
Affiliate marketing in a nutshell
An affiliate program is a business relationship where one website owner (a “merchant”) agrees to pay another website owner (an “affiliate”) a commission simply for referring customers.
Merchants typically manage their affiliate program by joining a commission network such as Commission Junction or LinkShare who provide third-party tracking and infrastructure or by purchasing and installing specialized tracking software on their own server.
See Commission Junction and LinkShare.com for a list of merchants who are looking for affiliates to promote their products and services.
How Colin got involved with affiliate marketing
Colin says: “I found the treasure map; the Affiliate Marketers Handbook written by James Martell,” an entrepreneur and successful affiliate marketer. The first time Colin read the Affiliate Marketers Handbook he mentions, that it was like looking at the horizon through binoculars; he could see where he was headed. The second time reading the book Colin, it was like looking at a road map and seeing how to reach the riches on the horizon.
Colin says, “With the book, you learn how to get organized, plan the site, run the business, and focus on the riches along the horizon.”
Colin learned firsthand, with the man’s mall, that without understanding the search engines, your business is dead in the water. The “build it they will come” mind set, just doesn’t cut it.
As Colin says: “The book’s system for using keywords really makes sense, after my prior experience it’s like this light bulb went offso that’s how I’m going to attract visitors and making money. In my old business, I was set up to fail, with the handbook I’m set up to win.”
Got Dot: How did you go from failing at the Internet to make money?
Colin explains, “By reading James’ handbook. His book is real, it’s not the stuff of Internet legends, but it’s an honest, to goodness road map. James really shares what works. I’ve followed his 8-step system
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