AFFILIATE MARKETING PROCESS
Affiliate Marketing is a trending way to not only market your offering, but also to make money today. Create a popular blog, YouTube vlog, or social media platform like a job, or peer-to-peer site, that gets a lot of hits— unique visitors— and then sell advertising space on your virtual property.
When a visitor or USER of your site clicks on the advertisement, it generally takes them to the advertiser’s landing page, with a fill-in form, or directly to a website, via a tracking code, that follows the customer’s behavior, whether they leave the page, or purchase. If the agreed upon Cost-Per-Action is performed by the USER, the advertiser, and/or Affiliate Marketing firm, confirms the transaction.
You typically get a commission fee every time someone makes a purchase, fills out our form, or takes the desired action. Sounds simple, right? But, not so much. The commercial site you create better have hits, with both unique and repeat views, as well as a growing audience you can prove to make any real money as an Affiliate.
To become an Affiliate MARKETER, also known as an affiliate PUBLISHER, you must first create an internet property of value. Once you have a website, or a popular YouTube vlog with a LOT of traffic, you sign up with a marketing firm, or an Affiliate NETWORK— a third party company that houses many Affiliate PUBLISHERS offering businesses virtual property to advertise their offerings.
ADVERTISERS The ADVERTISER pays the Affiliate NETWORK to positioned their ads on sites that are RELEVENT to the advertiser’s offering, on a Cost-per-Click basis. We’ll drill down on PPC Advertising in a minute.
An effective Affiliate Marketing strategy is complicated, and commission fees are often negotiable, if your site has enough clout. Find the right marketing firm or network specializing in the type of Affiliate Marketing program you need to effectively reach your target audience.
The point of Affiliate Marketing is to get our advertising on sites that reflect something about our offering. This is known as RELEVANCE. Remember what Google finds RELEVANT, in Video?_ITERATIVE SEARCH:
–Current, up-to-date information.
–Search terms— KEYWORDS and PHRASES that match the text and image content on the page the link sends visitors to.
–Sites that get the most hits, or link clicks.
Google uses these RELEVENT factors and more when determining its QUALITY SCORE. This metric positions your page ranking, but also how much you pay per click in any given ADWORDS campaign. This QUALITY SCORE also illustrates the effectiveness of your Affiliate Marketing campaigns, programs and strategies.
Affiliate Marketing has become so popular, an entirely new industry is emerging around this PROFIT MODEL. Google ADWORDS is among the trending PPC Advertising programs available today. Google places your ads on thousands of sites most likely to draw viewers interested in your offering. Well, sort of. For greater ROI, it’s recommended to utilize their Affiliate Marketing program, which lets you choose which sites and forums to place your ads. Assuming you’ve populate PRODUCTIZATION List 2A and B by now, you should have a better idea than Google’s algorithm who your initial target audiences may be.
Cost-per-Click advertising was NOT invented by Google. The CPC model began with a “pay-per visit model,” developed by Packard Bell in the mid-1990s, and has expanded since to include the list here, and quite a few other now. To find the latest trending acronyms for the CPC model, simple Google it!
The PROCESS of PPC advertising has refined over the years to more effectively communicate with our target audiences. This graphic illustrates the Pay-Per-Click process. It not only works with ADWORDS, but most Affiliate advertising networks.
Begin with Target Marketing. Again, at this point, you should have a good idea of WHO will likely benefit the most from your offering. Go back to ALL your PRODUCTIZATION Lists to find KEYWORDS and PHRASES you’ve listed in bullet points about your potential product or service. Take words from your FEATURES and BENEFITS lists, 1A and B, as well as COMPETITION’S company names and the name of their offerings similar to yours.
For any given PPC campaign, compile a list of KEYWORDS likely to reach your potential target USERS. Research the cost of using these words and PHRASES for each time someone takes an action (known as CPA or cost per action), or even passively sees an ad on a website (known as CPM, or cost per thousand ‘views’).
Once you know WHO you are selling to, and have some KEYWORDS likely to get your advertisement on sites related to your offering, create several ads with different headlines and offers to motivate USERS to act. Next, create landing pages that focus on ONE enticing DIFFERENTIATOR for that campaign, even if it’s a special, introductory offer.
Once you have all your marketing developed, launch your campaigns across your Affiliate NETWORKS. Be sure to split-test your advertising efforts with several versions of the same offer to find the KEYWORDS that get the best response. Track the Click-Through-Rates, but also completed registration forms through the purchase process. You can do this with Google Analytics or other tracking software available directly, or through your Affiliate Network provider. Study the results of the campaign. Analyze what KEYWORDS, headline and other various tests got the best response, then optimize your next campaign using the data collected from your previous marketing efforts.
The PPC advertising process, performed IN ORDER with a reputable Affiliate Network provider, has consistently shown greater ROI. The more tightly we target the people who will likely benefit from our offering, and the more we are able to reach them directly— make them aware of how our product will serve them, the more likely we are to sell them on our offering.
LAST SLIDE in PROFIT
The final phase of Step 1: Get Ready, in the RAF marketing method, is picking a profit model for launch, but also projecting additional revenue streams for a year, then 3 and 5 years down the line. It is imperative we forecast future PROFITS, not only to kfeep all stakeholders on the road to growing company revenue, but to show venture capital, or potential investors, that we plan to pay them back for their investment in our company, and also make them money throughout the life cycle of the business.
During the Development phase of any offering, it generally costs the fledgling company money, if not in real dollars, then in TIME to develop and market the new product or service.
At LAUNCH, implementing the FREEMIUM PROFIT MODEL won’t bring in immediate revenue, but free trials entice people to try an offering. Once they do, and find out how great your product is, and then tell all their friends, your business begins to grow. Your advertising campaigns help build your brand awareness. The viral messaging of USERS chatting up your offering garners more USERS. Sales of your offering increase, and continue to do so over time. After a sustained period of growth, when your product or service has gained enough market share, it may be time to switch to a SUBSCRIPTION based PROFIT MODEL for greater revenue with each sale.
A product or service without continual upgrades or new product releases will fail in short order, especially in the internet age where product advancement is faster than ever before. When an offering shows decline in sales, from competitors with a similar product release, or a new paradigm that’s better than our original offering, it’s time to upgrade our product, and perhaps add a PREMIUM UPGRADE PROFIT MODEL to our SUBSCRIPTION agreement. Not only does the USER pay monthly for our application, but to get all the features, there is a tiered UPGRADE program, with several price points to choose from, depending on USERS needs.
New SaaS PROFIT MODELS continually emerge. Others fall out of favor. The duration of the life cycle of any business depends on a myriad of mitigating factors. We will continue to discuss what factors create a product and company of lasting value in every video throughout this course.
WORKSHOP 1 in the LEAN STARTUP MARKETING SERIES—Get ready and PRODUCTIZE your idea into an offering of value, is well underway. Remember, PRODUCTIZATION is an ongoing process! Effective PRODUCTIZATION Lists, PITCHES, and PROFIT MODELS, take time to refine, and they change over time.
Actualizing an IDEA into a lasting offering and/or a company BEGINS WITH PRODUCTIZATION. Most startups fail out of the gate because they neglected to perform the PRODUCTIZATION process FIRST.
It is imperative that PRODUCTATION begin BEFORE BRANDING. You can not BRAND your offering until you know WHAT you have, what it DOES, and WHO will find value in it.
The process of PRODUCTIZATION isn’t rocket science, but it has many components that must be implemented IN ORDER to actualize any IDEA into an offering of value.
Make sure you thoroughly understand the PRODUCTATION process BEFORE moving on to WORKSHOP 2. Let’s do one final review of the PRODUCTIZATION process next…