Would you like a way to add more value to your existing client base and in the meantime make more money from them? — Or, how about a way to shrink your sales cycle by enticing them to start buying from you in the first place?
Well doing so may not be as difficult as it may seem as there are many ways do it. However, I’d like to share with you here one of my favorites — and it is “Affiliate Marketing”!
Now for those of you who may be new to this concept, let me just briefly explain what it is. Essentially it is where a third party markets the products and/or services on behalf of a retailer in exchange for a commission on any sales they initiate.
So besides the obvious benefit of earning more money in your business, offering great affiliate products can do a number of things for you. For example:
- Offering great affiliate products can make you more valuable to your target market by giving you more products and services to offer at a variety of different price points. So if you want to convert your prospects to clients, entice them to buy now by offering them some lower-priced entry-level affiliate products. If you want to convert your clients to raving fans, offer them a solid back-end of affiliate products that will enhance their experience with you even further.
- Offering great affiliate products can strengthen your positioning with your target market by becoming “great by association”. In other words, if you represent another company or product that your target market already knows, likes, and/or trusts, then those positive feelings stand a good chance of transferring onto you.
- Offering great affiliate products can help increase your brand awareness with your target market by giving you more real reasons to connect and share what you’re about and how you can add value.
And we can go on and on and on here — as the benefits are endless.
The whole idea is to find quality products and services that make sense for you to represent — Try to stick with ones that have something to do with what you offer. For example, if you’re a Business Coach, offering baseball equipment is probably not a wise choice for you. However, offering a few books, written by others, that support your methodologies thus improving what’s possible for your clients is a fantastic idea.
One quick and easy way to get started is to become an affiliate of Amazon.com. Register as an Amazon Associate (their affiliate marketing program), drive traffic to their web site using specially formatted links that they provide, and get paid when the person you refer buys — it’s that simple!
When you’re comfortable working as an affiliate marketer with Amazon, then I recommend stepping up your game and registering with a large retailer of digital products such as ClickBank.com. There is something for every affiliate marketer there. Much like Amazon.com, most of the tools you will need to market the products effectively are available to you from their web site.
As you continue to develop your skills in affiliate marketing, another more advanced approach you may want to consider is to reach out to the companies that have products or services that you would like to represent and ask if they have an affiliate program in place that you can participate in. And if they do, get involved. If they don’t, and they’re open to it, try to hammer out a deal to help them set one up in exchange for a more lucrative arrangement.
So in closing, affiliate marketing is a very powerful business builder that can be, and is, leveraged effectively by businesses of all types and sizes. Always remember though to choose which retailers, products, and services you want to represent very carefully as they will reflect in so many ways upon you. Used intelligently, they can certainly help convert your prospects to clients and your clients to raving fans.