Tweet

Internet Business Ideas: Starting An Online Affiliate Business

Guest post by: Cynthia Minnaar

Article Overview: Internet business ideas, tips and guidelines for selecting the right affiliate programs to earn multiple streams of residual income online.

Internet Business Ideas: Starting An Online Affiliate Business

How many affiliate programs should I join? How do I find the right affiliate programs? If you are starting an affiliate business, these may be just a few of the questions you may be asking.

How many affiliate programs should I join?

Do not make the mistake that many other people have made and that is joining too few affiliate programs on the one hand and too many on the other.

Joining too few affiliate programs is a problem for three major reasons:

Firstly, the bottom line is that you absolutely, must start earning multiple streams of income. One income stream, even two is not enough in today's world. If you are only relying on your job as your main source of income right now, you are a sitting duck for a financial disaster. If you lose your job or your health, you could be in big trouble financially. Most people are just one paycheck away from bankruptcy.

The same applies to affiliate marketing. If you are relying on just one or two affiliate programs to pull in the bulk of your income, you are extremely vulnerable. If you have built up a big residual income in one program and it goes out of business so do you. You absolutely must develop streams of income']);"> multiple streams of income to be secure in today's world.

Secondly joining only one or two affiliate programs does not give you enough experience to compare strengths and weaknesses of different programs. It leaves you being unaware of different possibilities and that is very dangerous to your financial health.

Thirdly if you only have one or two different products or programs to promote, that is not enough to solve the many different problems people will be coming to you for. You need to have a variety of tools in your affiliate toolbox so you can pull out the right one at the right time for the right person. If you do not, you will be leaving money on the table. It is that simple.

Joining too many affiliate programs is a problem for two major reasons:

Firstly, you will get way too distracted. Focus has great power and if you have too many things to think about at one time, you will get confused. When you are confused, you do not take action. When you do not take action, you do not make money.

Secondly, people will not take you seriously. If you are promoting everything and anything, people will sense your lack of sincerity and have no desire to do business with you. One of the big secrets to affiliate marketing success is promoting things you have some experience with and believe in.

But there is a happy medium somewhere in the middle of having enough products and programs to promote that keep you diversified and capable of solving multiple problems for people.

Five to six different affiliate programs in a niche is generally the best starting point. This gives you enough experience with different programs to compare their strengths and weaknesses. It gives you enough diversity so you can offer your prospects the right solution at the right time. And it broadens your own affiliate portfolio enough so that you can survive a disaster just in case one of the affiliate programs you are promoting falls on hard times.

How do I find the right affiliate programs?

As an affiliate, you need to work with companies that put you first. After all, you are the one driving the traffic to their site and they do not have a lot of risk since they only pay you when you generate a sale. But a lot of affiliate programs do not understand that. In fact, many programs out there are paying 5-15% commission on products they should be paying you a lot more for.

But there is another extremely important factor that determines success or failure as an affiliate marketer. That is whether or not the company pays you one time or pays you residual income for a single sale. This is a huge factor you need to consider before you join any affiliate program.

If you are promoting products from affiliate programs that only paid you one time for a sale, you would still need a job somewhere else to cover your basic living expenses. You need to work exclusively with programs that pay you residual income.

On the Internet, residual income is basically selling a "subscription service" so that when someone buys the product you get paid up-front one time and then each month when that person's subscription renews with the company, you get paid again, and again, and again every month for as long as that person continues using the service.

It is a fact that 90% of the people fail at generating any significant income from affiliate programs because they are promoting products that do not pay a substantial residual income. You need to exclude any program that does not pay you residual income.

Affiliate programs that pay only one-time for a single sale are bad for your financial health. Think about it. It takes the same energy on your part to promote something that pays you only one time as it does to promote something that pays you every month forever. So would you rather spend a day to make a sale that you get paid for that day and that day only or would you rather spend a day and make a sale that pays you for the rest of your life?

There is only one right answer to that question. You should only focus on programs and products that pay you residual income.

Examples of products and affiliate programs that pay residual income:

1) Membership Sites

There are many sites on the Internet that charge people a monthly membership fee to gain access to their services. As an affiliate you earn up-front when one of your prospects joins the program and per month for the life of their membership.

2) Hosting Services

For those who want to have their own website on the Internet a good web host is required. The great part about promoting hosting services is that when people get a website host, they usually stick with it for a long time. Promoting website hosting services is a great way to generate residual income online.

3) Business Opportunities

Online business opportunities offer another great way to get paid residual income on the internet. The reason for this is simple. Millions of people are flocking to the Internet every day looking for a reliable way to earn extra income, so online business opportunities have become a huge industry.

The great thing about online business opportunities is that they are much easier than offline business opportunities. All you really need to do for these is find out where the people are searching for these business opportunities and position yourself in front of them. You do not even have to sell the opportunity. People are going to join these opportunities anyway so all you do is setup your marketing in such a way that people find the opportunity through your link instead of someone else’s.

The key is choosing the right programs.

If you are promoting the wrong program, one of the following things will happen:

People will not join. People will join and then quit and you won’t make anything. You will get lots of people to join and then not get paid fairly for your efforts. You will get lots of people to join, get paid well for a few months and then the company will go out of business. You will get people to join and never get paid.

Way forward:

If you starting an online affiliate business and want the best possible chance to succeed as an affiliate marketer take heed of this internet business idea. Focus on promoting five or six residual income affiliate programs to earn multiple streams of income. This is often the biggest difference between success and failure for most affiliates.

Related Articles
  Internet Marketing Business Ideas for Affiliate Programs
  Internet Marketing Business Ideas-Try 2 Tier Affiliate Programs
  Five Online Home Based Business Ideas To Consider
  Starting An Online Home Business: Tips For Beginners
  3 Web Business Ideas To Consider

Article Tags: affiliate business, affiliate marketing, affiliate marketing, affiliate programs, multiple streams of income, residual income, residual income



Related Forum Posts
My entry - 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read - this is a fascinating book about the history of Business theory, and I'd recommend it to anybody. 2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto. 3. PADI: The Business of Diving Book Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
Re: HOw to market a B2B consulting company - [quote="zohahunt77":428owzbi]Hi, I was wondering if anyone can tell me the difference between B2B and B2C. I don’t know about b2b marketing but I have done marketing so know things about it. I will suggest you to take online services which will spread your business all over web network. Online marketing is the best way to market any business.[/quote:428owzbi] B2B = Business to Business - You are marketing to other businesses. B2C = Business to Consumer - You are marketing to consumers.
Re: How many mambers of this forum are also member of WF? - Hi Kevin, I have to agree with Tanny. All forums are unique in their own way, but doesn't mean that one is better than the other. What you might get out of one forum, you may not get from another. For instance, the WF focuses on Internet Marketing, while this forum focuses on Entrepreneurship. Each has their own set of benefits. I don't think you can really compare one to the other, unless of course they focused on the same topic. I have learned a lot from this forum, stuff I would never have gotten from the WF. With that being said, I've learned a lot from the WF, specifically since I need to know about Internet Marketing and running an online business. The addition of the Online Business forum here will help, and Jeff is doing a great job as moderator.
Re: what position to request? - Hi Michael, How about Online Business Development Manager? Good luck with your start-up. David
Exclusive: Interview with Results - Hi Forum Members, I'm helping start up a Business Coaching and Consulting company here in Toronto, Ontario, Canada (a Subsidiary of RSC Business in Los Angeles). As a Research and Development Intern I am required to practice my listening and interview skills by surveying Small and Medium Businesses on thier Business. This Survey is designed by RSC Business to also assist the Business being interviewed more insight into their own business. I am looking to interview about 30 businesses across North America over the span of 3 months. At the end of these interviews I will be publishing a report of the results and they will be made available for free to the Interviewees. The Report data will include responses from a minimum of 100 interviews. I would like to extend this opportunity to members of the Forum. If you would like to have this short 20-30 minute interview conducted on your Business and you reside in North America please send me an email or PM. Please contact me at andy[at]jvprosperity[dot]com to arrange our interview and to get free access to the results when they are published.


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

How to Ask for a Flexible Work Arrangement

Effective Leadership

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.