The first step to take, is to find a lucrative market that is suitable for affiliate marketing. More experienced marketers know how to spot the right markets to go into. This ability doesn't come overnight. Expert marketers spend lots of time testing things out, and honing their ability to find good markets.
Affiliate marketing can help you target profitable markets with laser like accuracy. Make full use of affiliate marketing to promote products that you don't own. When a sale is completed, you earn a percentage of sale amount. If the traffic that you send doesn't convert, you earn nothing.
You don't risk much when you get involved with affiliate marketing. You usually start by generating traffic for the offer. All you need is a couple hundred visitors to determine whether the offer will convert well enough or not.
This is the best way to test a market. You don't need to spend a single cent on product development. If you find that an offer is converting strongly, simply swap the offer with a better one by developing your own product.
It all begins with affiliate marketing. If you like, you may even test different markets at one go. Very soon, you will be able to see for yourself, some concrete results - which market is lucrative with rapid buyers, and which market appears to be just luke warm.
Once that is over, just keep your eye on the profitable opportunities. Repeat the cycle again to make more profits.
Here is how you can scale your business - build a list of customers and sell to them again and again. Even though it sounds simple, some marketers are still not building a list.
Here is an example. Let's say you start off with just one product, and you sell it for $47. When you make a sale, you earn 47 bucks. If you make 10 sales, you make $470. To make more money, you have to acquire more customers. If you don't, you can't grow your business.
Make a quick assumption - you don't get any more new customers. Can you still grow your affiliate business? You can continue to develop more backend products. That means making more sales from your customer database. Each customer is worth more to you now.
A customer lifetime value is the amount of profits that you make from the same customer. For instance, an individual who spends $10,000 with you over the next 10 years has a lifetime value of $10,000.
Here is where it gets interesting. Now if you know that for every customer you acquire, you will earn an average of $2,000 during a customer's lifetime, how much would you spend to acquire that customer?
This is what many affiliate marketers are not doing enough of. They make one sale, then forget all about the customer. Think of ways to serve the same customer several times over. It's a downhill ride when you sell to people who already know who you are, and trust that you deliver.
Setup a simple squeeze page to capture the contact information and keep in contact with your customers. You will be making 3-4 times more than what you are earning now.
By: FastSubmitArticles.com
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