By Kathleen Gage
[Note: Keynote speaker, business advisor and Internet marketing expert Kathleen Gage is today's Guest Blogger on Smart Networking. She'll be here all day, Wednesday, February 17th to respond to your comments and questions on her post. Join in the fun!]
If you've been around the Internet for any length of time,
you have likely heard you can make money through Joint Venture partnerships and
affiliate programs. You may already be doing so, but not at the level you know
is possible.
Without a doubt, partnering with the right people increases
your market reach, credibility and revenue stream. It's a great way to do
business. Unfortunately, many people attempt to do so without really
understanding how to gain the greatest benefit for all concerned.
There are numerous types of affiliate and joint venture
partner arrangements and relationships. There are those where as an affiliate
you simply search out products and services that you think your market wants or
with very little interaction between the you and the affiliate. Conversely, you
have those who seek out your products and services for their market, but have
very little interaction with you.
There are affiliate programs where no one really knows who
is behind the product, you just know you might be able to make money by selling
it; whatever it may be. Usually a widget of some sort.
Then there is the type of relationship where you do know who
you are dealing with and your reputation resides in the quality of products and
services you bring to your market. This type of relationship is quite appealing
to many entrepreneurs. You do business with the affiliate because you know
them, like them and trust them.
For the purpose of this conversation, we will focus on the
relationships where either you bring an expert's information to your market or
they bring your expertise through products and services to their market.
One of the most important things you must do is determine
how you can make the relationship a win/win/win. Win for you, win for your
affiliate or JV and win for the end user - the customer.
In the context of this discussion, developing affiliate
relationships takes more than simply posting something on your website or blog
where people can click and immediately become and affiliate. Sure, you can
occasionally find great affiliates this way, but to really optimize the
potential there is much more that needs to be done.
Conversely, don't assume that simply because you think what
you have to offer is the greatest thing since sliced bread affiliate marketers
will too. Your job is to search out those affiliates who have a great market
match for your product and/or service. This can take time, effort and money to position
correctly.
Here are some simple guidelines you can follow that are sure
to open many doors for you.
- Know
what your market wants when you offer affiliate products.
- Understand
the needs of the experts you approach when offering your product/services for
them to take to their market.
- Do
your homework when it comes to commission rates. A very simple way to do this
is join forums where other affiliates hang out. Which forums you select depends
on your industry. You can also do research at locations such as ClickBank. As
one of the largest locations to find affiliate products to sell and to post
your own products you want others to sell, you can easily determine what you
need to offer and what to look for when you are selling for someone by spending
time on ClickBank.
- Nurture
the relationships with those who are your top performers. Truth be told, only a
small percentage of those who become affiliates actually do much of anything to
sell your products and services. Then there are those who will sell and sell
and sell. Rather than trying to get the low performers to raise their own bar,
do what you can to support your high performers. This could be in the way of
higher than average commission rates (sometimes even 100% commission for some
products), surprise bonuses, a phone call or thank you card that is delivered
by other than email, and special acknowledgements.
- Find
out your high performers preferred method of communication. If you know they
are on Twitter a great deal, sending direct messages to them through Twitter is
better than a standard email. If you know they like to talk on the phone, take
the time to occasionally pick up the phone to call them. If they like Facebook,
private message them this way. If they like public recognition, blog, tweet and
post on their Facebook wall to give them praise. You will be amazed at how far
this can take things.
- Make
being your affiliate an easy process. Provide the tools they need to promote
your products and services. In other words, give them blog postings, articles,
tweets, samples to give to their market, etc. Develop a private affiliate page
where they can access this information. This can make all the difference in the
world.
- Be
a good pay. Don't ever, ever, ever shortchange your affiliates. Pay them when
and how you say you will pay. And pay with gratitude. It's amazing how someone
will be thrilled to get affiliates but when it comes time to pay them, there is
resistance to writing the check or sending their commission to their PayPal
account. Energetically, you are shutting down the flow of future sales if you
do this. Pay with extreme gratitude.
The bottom line is treat your affiliates and joint venture
partners how you want to be treated. With the right partnerships you can build
an extremely viable revenue stream and business a lot faster than if you try to
do it all on your own. In today's world of business collaboration is the way to
go.
About the author
Kathleen Gage is an Internet marketing advisor who works with spiritually
aware speakers, authors, coaches and consultants who are ready to turn their
knowledge into money making products and services. Find out how you can learn
from Kathleen on how to build a successful business using the Internet through
her Street Smarts Marketing VIP Club.
-thumb-200x302-2070.jpg)
