When it comes to marketing, is it better to be original or to promote an existing business model? You might be surprised at what affiliate marketing can do for you.
Many people believe that they should be originals and first movers because they’ll able to monopolize a product or method and earn a lion’s share of the marketplace.
While there is some merit to this way of thinking, there are also some drawbacks to this approach:
- It’s not easy to come up with unique products and services that nobody else has ever considered.
- The idea may be so novel that it doesn’t register with the buying public. They simply have no idea what to do with it. An example is the Segway. It’s such an original idea that it should have revolutionized the idea of transportation. Instead, it’s become more of a curiosity than a runaway bestseller.
- After you have introduced the idea, others may create a new and improved version that cuts into the market you spawned. For instance, Blockbuster’s idea of renting movies people can watch at home was a popular idea, but Netflix created improved the idea of movie rentals to such an extent that they grabbed the market. It’s so much more convenient for movie watchers to stream a movie into their homes than go to a store to rent one and then remember to return it on time.
For this reason, when marketing your business, it’s important not to be dismissive of marketing trends that have proved their popularity.
You can, for example, still build a highly successful business using proven marketing methods like social media marketing, email marketing, video marketing and affiliate marketing.
Affiliate Marketing For Bigger Paychecks
Affiliate marketing can be used as a standalone business model or one that complements your original business model.
As a standalone model, you build your business around a niche and find merchants who create products for that niche.
As a complementary model, you can use affiliate marketing products to continue to sell merchandise to consumers who have already purchased your primary product. Either way, you need to find high-quality affiliate networks to quickly find offers that match your campaigns.
Here are three big benefits of affiliate marketing:
It’s like a paid apprenticeship.
The nicest thing about affiliate marketing is that you can use it when you’re just learning how to market online. It’s a way of acquiring free training because merchants customarily empower their affiliates with a variety of marketing techniques and products. Later, when you start your own business, you can use many of the ideas you learned as an affiliate marketer to promote your own digital or dropship product.
It’s a way of selling more.
Affiliate marketing works very well with cross-selling. Suppose, you’re selling an e-course on NLP programming. You’re a certified NLP trainer who has recorded your classes, and now you’ve created a series of videos on NLP methods to improve business performance. Consequently, your website promotes your business consulting and training and also sells your course.
How does affiliate marketing fit into this system? After all, it would reduce your sales volume to sell courses made by other NLP trainers or to sell other self-improvement methodologies. The answer is to sell something that complements your product but does not hurt your business as a consultant, trainer, or product merchant. For instance, if you sell nootropics, supplements that enhance cognitive abilities like Gotu Kola or L-Theanine, then you can earn even more of an income from your website.
It works well with other marketing techniques.
Earlier we mentioned marketing original products, as well as using proven marketing methods like social media marketing, email marketing, and video marketing. With affiliate marketing, you can use all of these methods to increase your business profits.
You can even use affiliate marketing to support your unique, original and untested business idea. Even if your brilliant idea is slow in taking off because it’s so radically new, you can make money through affiliate marketing. You can also promote your affiliate products via social media engagement, build an email list with email marketing, and generate leads through video marketing on YouTube.
In the end, you won’t go wrong if you study and apply affiliate marketing techniques to your business.
You can use it as a business model by itself or as an additional source of income generation to support some other business model, including a completely original one.