Affiliate Marketing Can Drive Multiple Streams of Income
Are you familiar with the phrase, “multiple streams” of income? Most large companies are built with separate divisions assigned with expected profit contributions to the whole. One division Vs another is good for business.
The CEO is able to add security for survival of the business with exceptional quality of service and product diversification. Unexpected things do happen and there are few management decisions more powerful than careful bottom line focus.
Placing everything in one division with total dependence survival is simply NOT a good business decision. With selective and careful affiliate marketing decisions, the company is not locked into a one track income stream Vs a more powerful profit motive.
Successful entrepreneurs know that change happens. Products lose their place to new and more exciting choices, better quality, more for less. Competition is fierce in the Internet marketplace, same as it is in businesses without a copyright or a protective patent.
A huge benefit of affiliate marketing is that the product belongs to someone else. You don’t have to design it, build it, or provide service. The bookkeeping, customer service and all the back office belongs to the creator, not you.
Your business is marketing, finding customers for the product creator. The affiliate gets a commission for bringing in new buyers. One thing you absolutely want to do in the very beginning is build your LISTS. Never send YOUR recruit directly. Make sure you first capture the name and email address onto your own subscribers list.
Building your own subscribers list is priority #1 to build multiple income streams. Some neophytes in business fail to see the BIG picture. Never send anyone directly to the website of the affiliate marketer or you have cut off all future income for yourself.
It’s suggested “statistically” that every subscriber on your own list is worth about $1 per month in income to YOUR bottom line. Not a guarantee but certainly promising for your future business, especially additional income streams.
However, choose only affiliate programs that grab your personal interest, something you’ll enjoy advertising and promoting to your subscribers. Select your affiliate products based on your own likes and wise choices for your subscriber list. You should be excited about telling your subscribers about any and all products you choose to promote.
Enthusiasm with confidence, patience and persistence is a powerful draw. Your customer list will pick up on your attitude and the excitement you share with them. Honesty with your customers along with integrity, your belief, a feeling of trust is the foundation for success in your business today and years into the future.