Unlimited Affiliates Goldmine
Unlimited Affiliates Goldmine– A Short Quiz. How Well Do You Analyze the Affiliate Profit Potential of Your Products? Time for a little break from the figures.
Just in case you’re a little unclear about what I just said above, I want to hit you with a few examples to demonstrate my point, and to prove that you do actually know how to analyze the situation effectively and make changes to your advantage.
So here are some examples, and some questions for you. You just learned how to do something new. Here’s the proof.
Example one: A year or two back (This is a true story by the way), someone I met through one of my sites tried to strike a joint venture deal with me.
It was a JV of the simplest kind. He gives me higher commissions, and I promote his product. Ignoring the quality of the product right now and just concentrating on its earning potential, he had a $57 product, and offered me two dollars per sale, one off commission.
It’s probably quite obvious at this point that I said no at the time, and for good reason. Would you promote anything for $2 per sale on a one-off single level commission? There are far better deals out there.
So, what do you reckon he could have done to entice me further, improving his offer at the same time? Try and come up with a couple of ideas based on what we’ve just talked about before reading on.
How about bringing the commissions up to an even 60% for a start? It was a JV after all, so I’d expect higher than average commissions. Even at 50%, I may have been tempted to accept.
Hey, it’s a quick burst of cash, it was possible I may have said yes. So how else could he have enticed me? Remember back to the four points we discussed a few minutes ago…
How about some commissions over two levels? That would have meant my one-off promotion, while not reoccurring isn’t quite so one off anymore. If he wanted to entice me further, he could have dropped the commissions to maybe 45-50% and offer a monthly recurring commission if the product allowed this.
Taking things, a step further, what if the product he had been selling for $57 was a low-ticket item that fed through to a high-priced one-off sale for $200-$2000 per sale at 50% commission? I definitely would have gone ahead then if the product was quality.
Do you see how bad design of a pay plan or product in general can doom it failure from the start, unable to be revived without some major overhauls to how does the whole sales system works?
You may wonder why you’d change the way your whole business works just to get me promoting, but that’s not what it’s about.
In general, affiliates are after the same thing in a program they’re going to promote, whether it’s me, or any of the other thousands upon thousands of them out there.
Can you also see how through this last snippet of information about bringing a low-priced product through to a high-priced product, you can attract people who wouldn’t normally promote a $20-$50 product for someone else?
There’s plenty of people out there who only promote for others if it’s a high-ticket item.
This is a great way to carve your way through the competition and start pulling in the joint venture prospects that do just that. Joint ventures are a whole new ball game however, so we’ll continue on now through affiliate management.
All About Adding Value
So, you see, it’s all about adding value, something that many demote to just a product sales relevant technique, however it is one of the biggest improvements you can make to any of the resource building parts of your business, be it affiliates, list building, JV’s, returning customers, any of them.
Your product doesn’t have to be the most expensive, or offer the highest first level commissions in the world. It doesn’t even have to off reoccurring commissions either, but it does have to be worthwhile for anyone to consider promoting for you. And remember, it’s about building affiliates for the future rather than making a shed load of money in a few hours.
If you have to give a little bit more away short term to gain long term affiliates and contacts, that’s definitely one heck of a good deal.
Don’t think of it as having to wait. Think of it as having the choice to earn $100 extra a week for the rest of your life, or having to be patient but earn $1000 and more extra per week for the rest of your life for example. I know which one I’d choose.
The General Rule
Here’s a general rule to go by. It doesn’t apply in all cases, but in most. The better your product is, and the more the affiliate earns over time, or the higher the commission for the single sale product, the more affiliates you will attract, the more money you’ll make. This should give you a good insight into what to do with your levels, reoccurring level, and overall percentage.
If in doubt, pull out that calculator and start working out how much you and your affiliates will earn with a select number of sales over a period of time in a theoretical situation.
There’s nothing wrong with doing this to get an idea of the kind of figures you’re likely to be seeing, but I’ll be honest with you, nothing beats testing, not to mention playing with numbers is a heck of a good motivator.
Regards, Coyalita
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