Internet and Affiliate Marketing - 10 Critical Elements You Must Understand

Every day fortunes are made online. Just like anything else, it takes time, commitment, and perseverance. But what is most important for you to understand in order to have your efforts be profitable?

Here are the 10 critical elements of internet and affiliate marketing you MUST understand to be successful online, no matter what product or business you are promoting:

#1 DEMAND

-Are there enough hungry buyers for what you are selling?
-Do you have what a lot of people are looking for?

#2 TARGET MARKET

-When you are first starting out, look for proven markets where there are a huge number of customers. For example, every month there are several millions of people looking for home businesses
-Later you can expand into niche markets like affiliate marketers, realtors, stay at home moms, and network marketers

#3 PERSONAL BRANDING

-This can simply be your face, your name, and your unique selling proposition
-Why would someone want to do business with you?

#4 TRAFFIC GENERATION

-This is one of the biggest obstacles to overcome if you are new, but it can be done very effectively through strategies such as link building, article marketing, video marketing, and blogging, to name a few

#5 LIST BUILDING

-The biggest mistake those new to internet and affiliate marketing make is trying to sell their product as soon as their customers come to their website.
-Since only a small percentage of people will buy something from you and as a general rule, people need to hear a marketing message at least 7 times before they buy something, you must:
-Offer something of value for free in exchange for their contact information and have an email follow-up system to stay in contact with your potential customers to provide value, build trust, and develop familiarity

#6 CONVERSION

-Turning visitors into leads and turning leads into customers
-Professional marketers spend their efforts on increasing conversions and sometimes the smallest changes can make the biggest difference

#7 AFFILIATES

-You can recruit affiliates to sell your product
-Imagine 100's to 1000's selling your product over the internet

#8 RECURRING REVENUE STREAMS

-Getting paid several times for one purchase
-Examples: memberships or consumable goods

#9 MULTIPLE STEAMS OF INCOME

-If you only have one product, you are leaving money on the table
-It's much easier to get existing customers to buy from you rather than acquiring new customers
-Offer exceptional value and fill your customer's needs
-Have a sales process in place to introduce customers to different products over time

#10 JOINT VENTURES

-You can use this to share data bases and market your products
-Create new products with others.

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