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MenuHow can I increase my conversion rates (Hops to Sales) for the affiliate products I am promoting?
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I have some thoughts on this, that I hope could help you:
Your traffic comes easy: Who doesn't want to make a million dollars in no time? But after jumping from your articles, people realize, that this is harder work than they thought. You are not just pushing product - you are asking people to make a career choice. And that is a harder sell.
So make it easy for them to say yes.
Create information products:
- People are initially suspicious: If it is so easy as they say on the sites, why don't you do it? What is the risk for me, if I sign up for this.
- Provide examples from your own experience: People love storytelling and to step in the footsteps of others - at least process wise. When they are familiar with the setup, they will create their own paths.
- Business plan for the first 100 days. What is the time commitment? What is the upside and downside? What must be in place competencewise to be successful (product knowledge, network to sell, other things?)
- Tell your own story in articles: this is how you did it - these are the pitfalls of setting up your own business. Let them know, that you can help.
- Think about building it into your own site instead of Quora. That way you could integrate with your information products more easily.
Good idea to be very open that you are affiliated. That sends a message of honesty. But make the article by itself worth their while, so they leave with something interesting - even if they haven't clicked through to the affiliates.
Best of luck. Let me know, if you want me to clarify any of the suggestions further.
Best regards
Kenneth Wolstrup
Hi Zach -
Conversion rate increases will come via a combination of:
1) Clarity of value proposition.
2) Perceived competitive value.
3) Strength of your current offer/promotion.
4) How you marshal the persuasive elements on your landing page(s).
Sounds like you are benchmarking some of the competition. Good. I think you use Clickbank? I am familiar with it. I would recommend at least one A/B test to find a landing page that will increase your conversions. Let's talk, and I will follow with a mark-up of your page for what you can test.
First of all try improving your pre sell copy , split testing different copies , just because you say you have some good pages isn't enough ... Also build lists , iF you are promoting click bank and not building list you are loosing tons of money , People may not join your recommended service on day one they want to make sure what they are getting is legit etc so they do more research etc , the best bet would be to build list encourage them to contact you if they have any questions and presell them the program through emails as well ..
Upselling, cross-selling, and downselling can positively affect your conversion rates in a number of ways.
According to research analyst Sucharita Mulpuru, the simple act of making recommendations for further purchases to customers can account for anywhere from 10-30% of overall ecommerce revenue. Over a decade ago, Amazon stated that upselling and cross-selling were responsible for 35% of the company’s revenue.
To be sure, this number is largely atypical. However, it’s generally accepted that upsells make up anywhere from 2-4% of a company’s overall sales numbers, and cross-sales represent up to around 2% of such (usually around .5-1%).
As downselling is more of an “on the fly” technique and is harder to track (i.e., salespeople aren’t likely to log instances in which they made a smaller sale in lieu of a customer turning away a larger sale), actual statistics regarding downsales are hard to pin down. However, it stands to reason that providing a more convenient or affordable option to prospects inherently nudges them closer toward making a purchase.
You can find more information in Fieldboom's blog: http://www.fieldboom.com/blog/customer-loyalty-upsells-downsells-cross-sells/.
Related Questions
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A StartUp is looking into setting up an affiliate marketing platform, I believe the setup is different to the industry standard. Any insights please?
So this model has been attempted before in various formats. As a direct comparison, 3-4 years back there was a company called WidgetBox. They were a startup. Successful in getting funding. Raised at least $8 million. Their changed up their model a few times but their most successful one was nearly identical to what you described. They went directly to various advertisers on a CPA basis and then guaranteed publishers a set CPM based on the agreed CPA with the merchants. Got as high as doing 500 million impressions a month. But they didn't appropriately account for fraud, had to back out on payouts, ended up nearly folding. They were able to pivot and be absorbed into Flite. A less direct comparison of your scenario is very common. Many affiliates these days operate what is considered a sub-network (against the rules of most larger affiliate networks) or a super-affiliate program. Examples are the dozens of loyalty affiliates out there like Upromise who also have their own affiliates (as well as members tracked on sub-ids) underneath them. Being the advertiser's "sole" affiliate is partially where I don't see the model you describe work. Unless your advertisers are completely unfamiliar with the digital space they are unlikely to only work with one company as their sole affiliates. Advertisers like to scale. It's why they work with networks. What ever you decide, Post Affiliate Pro does not have a robust enough of a platform for you to launch with. Beyond that the software's ability to help detect fraud is suspect. HasOffers (know called Tune) is a way better choice. Also recommend looking at Performance Horizon Group. Either way, highly recommend rethinking the "exclusivity" or "sole" component of your model and asking yourself why an advertiser would just go with you?AD
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I'm looking to get off the Yahoo platform. Shopify seems to be nice, and BigCommerce just looks like a slightly better Yahoo. Thoughts?
Shopify is best use case for $0 to $1M ish, depending on product line, how many transactions that makes up, and if their are some custom things that are not possible on Shopify that realistically lead to huge gains that would cover more costs of a custom solution with something like magento. I recommend Shopify to everyone starting out. That's what we used at Diamond Candles up until about a $5M run rate. We were/are growing quickly so we hit a point where payoff of customizing checkout flow, add of social sign on, etc. that could not be done because of Shopify, would cover and surpass costs of a more custom option. Best to think about this simplistic example. View the ecom platform market in about 3 buckets. 1. Starting out: $0-$1M ish 2. Wow looks like you have a business: $1M-$20 or 50ish 3. You are/could be publicly traded: $50M+ Take a look at usage #'s for market share size from independent third party analytics tools from Builtwith: http://trends.builtwith.com/shop/Shopify/Market-Share http://trends.builtwith.com/shop http://trends.builtwith.com/shop/hosted-solution Just because something is found on the web more isn't the full picture. Ie. I could make a blogging platform and have a bunch of scripts and bots install it on millions of domains and I would have majority of the market for blogging platforms (ya that would take a while and isn't a realistic scenario but you can get the point). Providers dominating the different categories by companies in those areas actually doing volume and being succsessful? 1. Shopify, BigCommerce, Volusion, Magento GO, 2. Magento (varying editions), Yahoo Stores, Symphony Commerce 3. Demand Ware, GSI Commerce, Magento (varying editions) At the end of the day a good illustration goes like this. A truck and a moped are two different things. A truck is not trying to out 'moped' a moped and a moped not trying to out 'truck' a truck. They are both perfectly suited to different applications, situations, needs, and circumstances. The same goes with who you choose to handle your ecom platform. For 2-3 search for internet retailers first 500 and second 500 lists. Pull off all ecommerce companies doing between $10-$50M as an example. Use the builtwith.com chrome toolbar to tell you what platform they are using. Hire someone for $2 an hour via odesk to make a spreadsheet of everything and the make a pretty little pie chart. Now you know what each revenue volume level chooses as 1, 2, 3 preferred platforms. Option 3 as a side note but very important one, is primarily a platform and commerce as a service model with companies like Demand Ware and GSI Commerce leading the market with platform and services including but not limited to customer service for the brand, fulfillment, marketing services, website product photography etc. Their pricing models are based on gross revenue share. ie. SportsAuthority.com does $100M online this year, GSI takes 30% of that to cover everything. (I am not sure who Sports Authority uses, just an example) You can almost pick any traditional brick and mortar retailer and if they have a website where they sell things, they all do, GSI or DW are the people behind the scenes running the call centers, shipping etc. Diamond Candles, my company, who started on Shopify decided to not go with a the market dominating option of Magento for a few reasons. One of which being upfront cost for an agency or on staff magento CTO type. We decided to partner with a newer entrant, Symphony Commerce, which blends the 3rd category model of platform plus service. Rev. cut is significantly smaller than providers in category 3, but still get benefits of volume savings on shipping volume, scalable customer support that can handle rapid growth and occasional spikes without us having to worry about scaling or implementing best practices, and a fully customizable platform as a service so to speak that doesn't require us to have in house tech but where we are essentially renting part time ecommerce engineers from with resumes that list Google, FB, Twitter, Magento, Amazon, etc. So in summary. If you are <$1M in revenue just roll with Shopify. Greater than that but less than $50M ish then I would recommend looking into Symphony. If Symphony is interested in letting you in then you won't have to incur the upfront costs of an agency or implementation and you will have an ongoing partner equally incentivized i your long term success financially which I prefer as opposed to an agency model which economically is incentivized to offer a one time finished product and their revenue is not tied to my financial success. It is the closest thing to an equity partner while returning our full equity.JW
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How do you approach an influencer, a "guru" or a podcaster /blogger in your niche offering a commission without being too direct?
Do the opposite. Think about it from their point of view. They get requests like these all the time and most of the time the request comes from random people they don't know. That would be kind of annoying right? You get an email from someone you don't know but they want you to do something for them? You'd delete that email too. Best way to get their attention...get a referral from someone they know and trust. Get someone else they know and trust to introduce you (this is the whole reason I built my business www.reverralriver.com). Referrals work the best. Second best way...develop a relationship with them before asking for anything. Don't email and ask for something right away. You wouldn't ask someone to marry you on a first date would you? Develop the relationship slowly. Give them value before ever asking for anything in return. Over just a few short weeks you could easily establish a relationship to the point where you could actually mention an "ask" which should be very open-ended and create absolutely zero work/friction for the person you are asking. One of my favorite techniques to warm-up a relationship...just email and tell them you appreciated (insert an article they wrote or service they provide, whatever, just stroke their ego). Tell them you're a fan and often point people their way. Then go way above and beyond and find their physical mailing address (it's not that hard to do) and send them a small gift or hand-written postcard in the mail just to say thanks. Then email them once you know they got it and just say thanks again. Then start emailing them various articles or things they might think are valuable, I'd say no more than once every 4 days. Connect on LinkedIN and message them funny pictures or GIF's. Show them you're human. Make them laugh and smile and just say "Hey I appreciate all you've done so just wanted to return the favor and make you smile (insert funny GIF here)". Then, once they know who you are, don't ask them directly to partner...ask them if they know anyone who would be interested in partnering. Below is a template I've used with great success...and the beauty is that they will often ask for more info and get interested themselves, but usually only if you have offered them some sort of value to stand out amongst the crowd. --- Hey (prospect first name), Hope you laughed at the last GIF I sent. I was just wondering if you knew anyone that would be interested in a partnership/affiliate opportunity… Real quick summary… I’m building a SaaS that automates the process of asking for referrals…it uses artificial intelligence to find potential leads in your existing customers network and makes it super simple for your customers to make the referral (one click of a button). If you know anyone that has an audience of people that would benefit from something like this I'd be grateful for an intro. I won't let you down I promise if you can make an intro. I’ll draft up all the marketing material and do all of the work, so all they would have to do is say “ok”, hit copy, paste, and send and I’d be happy to pay them 25% commission for life (or if there is another payment structure in mind I’m happy to talk about it) So what do you think? Can you help me out? Thanks, Parker ---- If you found this useful please upvote. Book a call with me if you want to know more or if I can help further.PW
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How do I best set up an affiliate program through an Apple App?
I believe the commission is just 2 percent and not 7 percent. It's been a while since I've been out of the affiliate game but I believe if you can join their program through commission junction as well.AC
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Can anyone recommend an affiliate network that helped you increase mobile app downloads?
I can help you with some real downloads that would get you Guaranteed App Reviews (Anywhere between 20-1000 App Reviews) Reviews drive the most number of future downloads. Feel Free to talk to me about this opportunity.EL
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