Developing Your Marketing Strategy

Developing Your Marketing Strategy

Developing a successful marketing strategy is an essential part of your online success. In order to succeed, you must develop and implement a strategic plan that includes all of the following:

• A great product and or service
• A web site specifically designed to sell
• A killer marketing strategy

Each step plays an important role in your overall strategy and must be developed to its fullest potential. If even one step fails, your chances of success will be minimal.

What should I sell?

Your first step will be to either develop a great product of your own, or simply locate quality products and/or services you can market via affiliate programs.

If you’re just starting out, it is highly recommended that you start out marketing quality products and/or services that are already developed. This will provide you with the ability to earn while you learn, as most quality affiliate programs provide you with marketing and advertising information to assist you.

What is an Affiliate Program?

When a company provides you with the ability to sell their products and services and they pay you a specified commission on each sale, they have what is known as an affiliate program.

One Tier Verses Two Tier

One tier affiliate programs pay commissions on one level. For each sale an affiliate makes, they will receive a commission. For example, if a company offers their affiliates a 30% commission and their product sells for $39.99, for every sale you make, you would receive a onetime $12 commission.

Two tier affiliate programs pay commissions on two levels. Affiliates will receive a commission for each sale they make and for each sale their recruits make, which means you would have to get others to join the affiliate program.

Two tier affiliate programs usually divide the commissions over the two levels. For example, if a company wants to give their affiliates a total of 30% commission for each sale, they would offer a 20% commission on their first level sales and an extra 10% commission on second level sales. If their affiliate makes a $39.99 sale, they would receive an $8 commission. If one of their recruits makes a sale, they would receive an additional $4 commission.

Although this may look good on paper, my experience has been that the one tier affiliate program is much more profitable than the two, as most affiliates never make any money. Why? Because they fail to try…

Residual Affiliate Programs

Although joining affiliate programs that pay a onetime commission on sales can produce some extra income, the key to developing a nice monthly income is to join residual affiliate programs.

A residual affiliate program will pay you a monthly commission on sales for as long as the customer remains with the company.

Joining a combination of both types of affiliate programs will be your best option.

Developing Multi Streams of Income

The key to developing a successful Internet business is to create multiple streams of income. You must not solely rely upon one stream of income, as you will literally be placing all of your eggs in one basket.

By developing income from multiple sources, when one source is having a slow period, the other sources will help to supplement.

You must first decide upon your target market and offer products and/or services that will be of interest to your market. In addition, the products and/or service you’re offering should be closely related. For example, if you’re selling computers, you could also offer printers, Internet service, software, etc.

Once you’ve decided upon your target market and what type of products and/or services you’d like to sell, your next step will be to locate quality affiliate programs.

You can find hundreds of affiliate programs at Affiliate Showcase, Commission Junction and ClickBank.

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