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FIB - Scams 101 - Ye Olde Archives
Posted By: Jim Wilson In Response To: What is Affiliate Programs? (NewBizMan)
Wednesday, 26 October 2005, at 7:08 p.m.
But like anything else worthwhile it takes work.
As far as an explanation of what an affiliate program is, basically it is sort of like contracting to market for someone else in order to earn a share of their profits. It is a nice symbiotic business relationship.
For example....
Say I own a website online and I sell widgets. I alone can make some sales and some income but each sale cost me a certain amount in money in order to advertise. And what is more valuable is the time it cost me to run those ads and manage all of the sales details.
And so I decide to setup and affiliate deal. I offer 50% for each sale you make on the first level and I even offer up 10% for any sub-affiliates you sign up for me. Yes this means I only make 40% of the sales proceeds but now I will have more time to expand my business ventures and there is little or no overhead cost in advertising. So in the long run it works out well for me to allow you to share in my sales profits. You are happy to sell my widgets and make 50% for each sale. You are happy to get sub-affiliates to sign on under you and make you a little additional income. And I am happy that I now have an army of people selling for me.
Affiliate marketing is all about the residual income. What I mean by this is not the money you make now (today) but the money you continue to make for months or years to come. Ads you place now may continue to make sales online for literally years to come. Sub-affiliates may continue to make sales which earns you money again.
And so the next natural question is how to go about selling affiliate deals. I personally find a little success marketing online auction related affiliate deals. This is largely because my own site, AuctionHints.com, is all about online auctions. The point of this statement is simple; if you build it they will come DOES NOT WORK online! You have to try to find some sort of niche', develop a site around this, and then you can make money on the side marketing affiliate programs. Or you can learn other marketing techniques and basically place ads in various places (newsletters, offline, and pay per clicks for example) and make sales. You need to open you mind and learn how to market online.
I could go on and on with this explanation but I think you get the idea. There is indeed money to be made via online affiliate marketing. You just have to know a little something about marketing to take advantage of this potential residual income source.
Good luck! I hope this helps...
Jim Wilson
AuctionHints.com
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