Understanding the Key Elements to Building a Solid List
Charlinda Saturday, September 5, 2015
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Once you go into affiliate marketing, you will find that one of the key concerns you will have to focus on is building your leads. Leads often come in the form of e-mail addresses, behind which are real people with very real potential to become your customers, subscribers or members. Having a solid list of leads is assurance that you will be capable of reaching a ready market and generating income from there.
The importance of affiliate marketing leads
Large organisations, like Virgin or Coke, spend billions of dollars on advertising alone. That's right – billions. The purpose of having a huge marketing budget is mainly to build buzz about a product, expand a market and ultimately generate more sales.
In affiliate marketing, the cost of advertising is comparatively small and the bulk of the cost is paid for by the affiliate company. As an affiliate, you choose the amount you would like to spend on marketing - if any. Successful affiliates focus to find a niche to which they can promote a productYour only job is to look for a market to promote to that will respond to you positively so you can earn an income in return.
Unlike in a real world business, this market will come in the form of affiliate marketing leads. The quality of these leads, along with the type and number of positive responses they offer will determine whether or not you'll succeed in affiliate marketing. If you hear someone say, 'the money is on the list', he or she is actually referring to the list of leads. Without this, you cannot hope to sell, much less earn.
Building your affiliate marketing leads
It's not rocket science, true, but affiliate marketing can be tricky nevertheless. It's a proven business model and many affiliates have had considerable success in their chosen programs. However, like all businesses, there are also certain factors upon which your success in building your list of affiliate marketing leads rest. Consider these factors carefully:
1. Your reputation
As a new affiliate marketer, you will find that it will take a while before you can build your affiliate marketing leads. All new marketers have gone through this since enjoying the patronage of a solid number of followers will not happen overnight.
To attract a solid list of affiliate marketing leads, you will have to become a recognized business entity in the industry. Without a reputation, potential leads will find it difficult to trust you or at least do business with you. Faced with a choice between buying from a popular marketer versus an unfamiliar one, wouldn’t you rather buy from the person you know than from a total stranger?
The same is true with your affiliate marketing leads. They will need to recognize you as a reliable merchant or affiliate before they agree to buy, participate or become one of your recruits.
2. Web traffic
Another key element that affects the number of affiliate marketing leads you can obtain is the amount of traffic your site receives. A high web traffic figure is beneficial in two ways – it allows you to obtain comparatively larger affiliate accounts and increases your potential of building a bigger number of affiliate marketing leads.
Without a good number of traffic to your website, you might have to either focus on using strategies to build it first or join a networking service offering affiliate programs instead.
3. The affiliate product
There are two things that affect how well you can build your affiliate marketing leads. One is the product's value and the other is how well you yourself understand the product.
The choice of an affiliate product is critical to every affiliate. An affiliate product that has a proven or at least a potential for good sales will be far easier to promote and generate income from. It will also make it easier for an affiliate to build leads with, since prospects will be more willing to respond to it.
A good understanding of what makes the affiliate product attractive and valuable enough is also key to attracting more leads. Being able to explain why and how a product works on your website or articles, for example, will help you sell it better, especially vis-à-vis other products competing for the same market.
4. The niche or target market
One common concern among affiliates is market saturation – that point in time when a specific segment of the market becomes flooded with the same (or at least similar) products and services. So much so that it becomes increasingly difficult to sell, much less to convince prospective buyers to consider the product or service you're trying to promote.
You can avoid this, however, by focusing on generating affiliate marketing leads from specifically targeted segments of the market or niches. Consider selling or promoting products that appeal to a specific group of people who have a common yet largely unmet need. Competition for this market is relatively low and with the right kind of strategies, you'll find that this niche can be especially lucrative.