If you have been hanging around the internet for any time now, you may be familiar with the two words put together “affiliate marketing.” But what the heck is it exactly?
To get all textbook on you:
Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts.
Translation: You market another person or company’s products and earn a commission on them each time somebody buys through your link. These commission can be small or large, and range anywhere from a couple of dollars to a couple hundred of dollars, which brings me to my next point of explaining the difference between low and high ticket.
The difference between the two is obviously the amount of commission you will earn from selling it. This also means that you usually have to make a higher investment, which could be into the $1-5k range.
When I was promoting the two network marketing (MLM) programs I did which were Empower Network and the Internet Lifestyle Network, I investing $1,000 upwards on just one, and never saw a dime of it in return, which was my own fault of course. At least I got some sort of investment into my internet marketing education.
Affiliate Marketing Overview
Anyways, affiliate marketing can be a good thing but the control is just not there. You are promoting other people’s products that can go away at any time, which you then have to start all over again. So as you can see, there are some risks associated.
To make money , you will need to keep on selling what you are promoting to others consistently to earn consistently, which means you always need people to market to. Even if you are able to consistently bring people into the program you’re offering, you will have to help them bring others in as well so that everyone can make money. Now you see why most people call MLM companies pyramid schemes.
If you are attempting affiliate marketing, good luck. There is nothing wrong with the model, it’s just not a sustainable model for the long term.
I don’t know about you, but I’m trying to stay in business online, which means continuing to add value to people’s lives instead of selling them on something that’s not really there. (ahem, EN)