A large percentage of people starting an affiliate marketing business choose to market and sell information products, loosely defined as information packed in a specific format (e.g. text, audio, video, etc.) and meant to be sold and delivered to end customers. The best example of information being sold today is the highly lucrative “How To” category that can be found everywhere, literally in any niche in existence.
Domain name – A domain name is the name of your website. It is the address internet users type in to access your site, instead of entering the numerical IP address. If you don’t have a hosting provider yet, you can get a free domain name with any of the shared hosting packages on BlueHost. If you already have hosting, you can purchase a domain a la cart for as low as $9 per year.
This domain can work for people in two ways. One is to get sudden bursts of income by selling a certain product. The second part is selling a service that gives you recurring fees. This course on Affiliate Marketing Strategy for Stable and Recurring Income can be very helpful if your objective is the latter. At 5.5 hours and 56 lectures, this is very extensive and useful for those looking at mastering this subject. This training program is developed by iMarket XL and Max Stryker.
The website layout: You can make affiliate marketing work no matter what website layout you choose. For example, if you’d like your site to look more like an online store similar to the popular Odditymall, nothing is stopping you to do so. There’s no rule preventing site owners from showcasing affiliate products this way. Many affiliate marketers choose a blog layout instead, often writing product information or reviews along with links going to the store.
Dependency: This is the biggest con, so pay attention! Affiliate marketers depend on the merchant to make their money. If there were no merchants or affiliate programs, the possibility of being an affiliate marketer would not exist. It even becomes more frustrating if for one reason or the other a merchant suddenly stops running the business or their affiliate program. This can potentially deprive the affiliate marketer of his one-time steady source of income.
Of particular interest to infopreneurs on the internet are digital information products, information products that are sold in digital format of some sort. As opposed to hardcover or softcover books, CDs, manuals or reports, an infopreneur can deliver these items as PDF files, audio files, streaming video and other emerging media. This substantially reduces delivery and transportation costs for businesses and gives customers immediate access to highly coveted information.
It is a very good idea to use different product promotion strategies so you can figure out what is working and what is not. Try to do split testing and measure the performance of each campaign then take actions accordingly. Changing a few things here and there can increase your profit dramatically. Make sure to place the banner ads on different areas of your site’s pages. Some positions will make the ads more noticeable than others.
If you write honest reviews, you will get something that SEO can’t provide, good word-of-mouth. Having good recommendations passed from friend to friend is important for every product, but it can really make or break a niche site. If you pick your niche well and create a reliable site that is full of good information, then you can be sure that the first people to come across your site will spread the word to their friends. The word-of-mouth effect is great because it compounds. In other words, one friend tells two friends and then those two each tell two more and so forth. The pattern continues until you saturate the market and become king of the niche.
Same here, this post kind of fell from the sky at such a great time. Been building a great community of readers over the years but reached a point where I’m losing money maintaining the site and newsletter. As you said, the ads don’t bring much -ironically I use Adblocks too but affiliate marketing always seemed like a weird and opaque subject. I’ve read many of Chris Guillebeau’s books in the last few months (this is how I discovered your site actually!) and I didn’t realize he had affiliate links for instance. Your post opened up a new window of possibility for me. Still need to process everything and do the work behind but a big thank you to you Sean!