In this online business pdf article, I’m going to share some of the insights I’ve learned over the last few years building an online business. Anyone can build an online business without any experience or even any products to sell. A clever business model known as affiliate marketing allows you to sell other people’s products and earn commissions from their sale.
To do this you only need to join an affiliate program and promote your affiliate link. The link is tracked back to you and you earn a commission for sales you have generated. Affiliates are therefore third party referrers of other people’s products. They get paid on a performance basis when they successfully refer customers to products online.
Affiliate marketing is one of the most popular online business models, but it’s not without its problems. Many affiliates will struggle because they don’t get the training and support they need to become successful. I was the same and spent years finding out the hard way! Don’t make the same mistake, invest in your education and put yourself years ahead of the competition!
Online Business PDF – Why Affiliate Marketing?
Before finding affiliate marketing I tried various other online business models but affiliate marketing quickly proved itself to be a winner. With affiliate marketing you can sell pretty much anything online, so long as it has an affiliate program. So when you understand how to sell online, you can use that skill to continue to sell more and more products, all on virtual autopilot.
The skill is of course marketing and marketing using online advertising tactics is the skill you need. With an affiliate marketing businesses, you can focus solely on marketing because you can use pre-existing businesses which already exist.
That makes building a profitable online business a much simpler task than if you were to build your own products, infrastructure and customer service operation. As an affiliate you don’t need to deal with customers or product manufacture or delivery. You simply learn marketing and send targeted visitors to other people’s products.
Online Business PDF – Types Of Products
There’s many products and services you can promote online as an affiliate marketer. Many affiliates start out with Amazon, since it’s one of the most popular places to make purchases online. However, Amazon’s commission rates aren’t the best and despite some other incentives, there are better products to promote than those on Amazon. Amazon pays its affiliates between 1% and 20% commission, although most products will fall into the category of paying between 3% and 10% commission.
Amazon mostly sells physical products which pay less because there’s more cost involved in their manufacture and delivery. But with digital products there’s no delivery costs involved and as such product owners can pay affiliates larger levels of commission. Delivery of digital products can be directly over the internet as a digital download or access to a website or training course, for example. Digital products will tend to pay from 30%-40% commissions on sales you can generate as an affiliate.
High Ticket Products
High ticket products are also a way for affiliates to earn larger commissions than though selling low value physical products. A low value physical products you sell on Amazon, for example, might only pay you 3%. If the product sells for $100, you only earn $3 on each sales you generate. This means you need to make a lot of sales in order to build a profitable online business from selling those kinds of products. But with high ticket products, whether physical or digital, you can generate much larger commissions from each sale. Here’s an example of a high ticket physical product you can sell as an affiliate:
A Submarine!
This five person Exploration Submarine sells for $2,700,000! As an affiliate for the product you can earn 8% commission if you refer a sale. While most people aren’t shopping for such an expensive item, some people are. So if you’re going to learn the skills to become an affiliate, it’s worth considering which products will be more lucrative. To put this in context, in order to earn the same amount from a $100 item on Amazon which pays the same percentage (8%), you would need to sell 27,000 of the smaller item to make the same commission ($216,000) as just one sale of the submarine!
Granted though, it is more difficult to sell a submarine than a $100 item on Amazon, but it’s not 27,000 times as difficult! Once you learn how to sell online, often it is the same work you do for a sale in either case.
Recurring Income Products
Subscription affiliate products are also worth considering if you’re going to build an online business using affiliate marketing. These types of products are things like memberships and software products which require an ongoing fee. They also pay recurring commissions to affiliates which means you can create a sustainable income with fewer sales, much like with high ticket products.
Business tools and education products are good products you can sell which pay recurring commissions for subscriptions; particularly if they are hugely valuable. For example Aweber is an email autoresponder which is used by affiliate marketers.
Should an affiliate purchase the tool from you and subsequently build a profitable online business, they will maintain their subscription for years, or even a lifetime! This means as the referring affiliate you can benefit from a lifetime of recurring payments for having made the recommendation.
Online Business PDF – Ways To Sell Affiliate Products
Most top affiliates will build an email list of subscribers to which they can recommend their products (using Aweber, or a similar email marketing tool). With an email list, you can recommend products and services to a growing list of people who are interested in reading about what you have to sell. There are many ways in which you can build an email list but the main two strategies are using either content marketing or paid advertising, (or a combination of the two).
This article about online business pdf for example is a piece of content which is used to attract a specific audience (target audience). If someone purchases a product which I recommend on my site, or through my email list, I earn a commission based on the sale.
Content marketing involves building content such as this blog post, or uploading videos to a site such as YouTube or TikTok, for example. Over time, as your content grows, you gain more traffic from your content. Some of these visitors will sign up to your email list if you use an opt in form on your website.
Paid marketing is however a much faster way to generate traction with an online business. With paid marketing, you run ads and send people directly to a landing page, or a sales page. Paid advertising can be run almost immediately whereas it can take much longer for content to get the same amount of traction.
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