There are 3 things you can do to improve the profitability of your
affiliate business. They are not difficult but they do take some
mastering and you need to make sure you get the correct guidance and
support to ensure you maximise your efforts.
The first one is to build a list of subscribers.
I
know, I hear you groan and say yes, we all know that already. But do
you know why the list is important and are you using it to its full
potential? A subscriber list enables you to re-market to customers you
already have rather than having to find new ones. This will only be
effective though if your offers are congruent to what they have
purchased already. For example, it probably would not be very effective
to try to sell business tools to women who have bought household items
from you in the past. They probably would have no need for them. So that
means that you have to build lots of lists for different customers
right? Wrong.
The second one is to have a profitable and integrated sales funnel.
Having
a profitable and integrated sales funnel that you can naturally
progress customers through is the way to earn more money by doing less
work. Here's how it works. Let's say that we are promoting a way to help
new mothers to lose weight. To begin with, and to get the people to
subscribe to your list, you may offer them a free report on 10 ways to
lose 10 pounds. This is providing them with value and gives them a
chance to get to know you and try out your offer for free. Let's imagine
that they try out these 10 ways and it works. They are delighted and
now have some trust in what you are saying. A couple of weeks later you
send them information about a video series you are offering on exercises
that will help tone them up for $20 (product 1). If they tried out the
first item then they are more likely to say yes to this item and you
have a $20 sale that has only cost you an email. Let's then imagine that
you have a Webinar that they can attend live and is interactive where
they can discuss their problems or solutions with others in a group and
this is $50 (product 2). A percentage of those people who tried and
liked product 1 will now buy product 2 because they know and trust you.
Now let's imagine that you have a six-week interactive course where they
get nutritional information, diets and exercises that they work through
with a coach and this costs $200 (product 3). And then a one to one
coaching opportunity where they can work on other aspects of life they
want to change with a personal coach $500 (product 4). From the initial
advertising campaign, you have only had to re-market to your list with
emails but you had the funnel in place to enable you to do this. The
average customer value has increased as they are now possibly going to
spend $770 with you instead of just the $20 one product sale. The good
thing about this is that you can now comfortably spend more on
advertising to get that one customer.
So hopefully now you can see
why these 2 things are crucial to having a successful marketing
business, and more importantly, how they can help to grow your profits
without having to increase your advertising budget or have to keep track
of lots of subscription pages and lists.
The third but
probably the most important one is to affiliate yourself with people who
can give you this type of sales funnel and offer generous commissions
on all sales.
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