traction channel 14 how to grow your business with affiliate marketing
TRANSCRIPT
Table of Contents
• Slide 2: Traction Channel 14 - Affiliate Programs (Video)
• Slide 4: Affiliate Marketing• Slide 6: How does affiliate marketing
work?• Slide 9: Key things to ensure you get
the highest return• Slide 14: Dr David Dugan
Traction Channel 14: How to Grow Your
Business with Affiliate Marketing
How much are you willing to pay to acquire a new customer?
This is one of the first questions to ask yourself in affiliate marketing.
In case you’re not familiar with the concept, affiliate marketing
is about paying other businesses (affiliates) to sell your product or refer clients to you.
It’s a great tool for starting to build-up your customer base and its well within the
scope of start-ups.
Justin Mares and Gabriel Weinberg rate it as one of top 19 key strategies for
generating new leads.
To get a better sense of how affiliate marketing works, we can look to one of the most successful real life examples- the American
Express affiliate program.
Each time one of American Express’s affiliates succeeds at enrolling a client with the American Express Payment Gateway, the affiliate receives
a payment from American Express.American Express gains a new lead and the affiliate receives a payment- its win-win!
What kind of affiliate program would compliment your
business? How much would you be willing to pay your affiliates?
These are things to think about if you decide to pursue affiliate marketing.
There are also a few key things to keep in mind to ensure you get the highest return:
Your product should be a retail or information product because these types of products are best suited to
affiliate programs.
See if you can save time and money by recruiting affiliates from your current
list of users.
Make your affiliate product a primer product rather than a complete
product. The primer should lead the customer to the complete offering – this
way you get to sell to the customer twice.
Now you know the basics of affiliate marketing, do
you think it could be applied in your business?
If the answer is yes that’s great news, because just getting one of the 19 marketing channels to work for you will help to unlock
your business growth.
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Practitioner Author Key Note ✔ ✔Speaker Entrepreneur✔ ♠
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