Affiliate programs are truly the laziest way to make a thriving online business. But it depends on what program you’re promoting. And the program you choose will make a ton of difference. Some of them are outright scams, and others have almost no conversion rate – and just don’t sell. Read on to learn how to spot the most auto-pilot affiliate opportunity.
The number of affiliate programs available today is simply staggering. Even if you’re not that fussed, you at least need some means of narrowing the field. Choose from one of the best, and you will be more well off than the guy who knows twice as much about marketing, but markets a lousy product. To have your work cut out the affiliate program needs…
1. Highest Possible Demand – And Least Discretionary:
This just makes perfect sense, but many people will market for someone without checking for basics like this. But not just a high demand for the product/service, but for this specific name or company. And in these times of economic uncertainty, you simply can’t afford to “put your eggs” with anything discretionary. It needs to have high demand regardless of economy.
2. Highest 2/multi tiered payments:
Now this is very lazy, and one of the biggest draw-cards for myself. This is where you can recruit an army of affiliates (much easier than recruiting customers i might add), who do all the work for you. You don’t even have to know who they are, as long as they’re keen marketers. You keep earing commission from whatever they sell.
3. Recurring Payment for One Time Sales:
Ok, if you don’t think this one’s crusial, then you don’t know what’s good for you. Recurring programs are seriously underestimated and the best way to create auto-pilot cash-flow. For example, If you make a sale and earn a commission of $47, and the customer stays with the service for 3 years, then that becomes a commission of $1692 – for no extra work. And that’s only one sale.
4. A Real Pain to Switch From:
Now, in order to take full advantage of a recurring affiliate program, it will need to be an absolute pain to switch from. You don’t want them quitting after a couple of months. Choose the right program with this trait, and 3yrs is not unrealistic in any way. It will often be more.
5. Ultimate consumable – Services, licenses, memberships:
Which affiliate programs commonly come with the above two traits? Services, licenses, and memberships – the ultimate consumables, but making sure they are non-discretionary. Don’t bother selling ebooks etc, your customer will only want one of them.
6. Highest Possible Conversion Rate:
This is pretty much the bottom line when choosing any affiliate program. You could be the worlds greatest marketer, and send millions of people to a website, but if the website doesn’t end up converting your hard earned traffic into customers, you get no commission. But this is something you can’t really know until you try it.
So stop wasting your precious time and efforts with affiliate programs that aren’t pulling their weight. It would be far better to spend that time researching affiliate programs to find one that’s worth your while. Do yourself a favor, and don’t market any affiliate program that lacks more than one of the above capabilities.