How to make money with affiliate marketing online is a topic that a lot of people come to Stuart Ross with. Stuart is millionaire digital entrepreneur and co-founder of the Six Figure Mentors (SFM) and Digital Experts Academy (DEA), a Premier Business and Entrepreneur Online Education Service and one of the fastest growing exclusive private communities on the internet today.
People tend to approach Stuart with a question like this, “Stuart, I’m thinking of getting started online. I want to live the internet lifestyle. I want to create my digital empire, but I just don’t know what sort of products to create?” What they’re saying is that they’ve been looking in the market place and can see there’s a variety of programs out there to make money with affiliate marketing online.
The question is usually, “Can you recommend any of the programs out there?” or “What types of products shall I be selling?” The mistake people often make when they first get started online is that they look for affiliate programs that have the highest commission payouts or are quite low cost. The reason for this is that they think that these are going to be the easiest products to sell because of their low cost.
They then go and sign up to any old affiliate program and go out and start trying to make affiliate commissions. The problem with this is that so often people are not that passionate or bothered about the products they are selling. I will tell you this straight – no course, training program or seminar is going to help you more than you just having the sheer belief in what you’re selling and promoting.
Promote Products With A Transformational Value
If you’ve ever been in sales you’ll know that it’s so much easier to sell something that you really believe in. So what Stuart suggests you do is thank about the last decade of your life and remember what products, services or experts have had a really big impact on your life. Anything that’s added huge transformational value to your life.
And if you can think of something, then that’s a good place to start. Find out if there are any affiliate programs you can be involved with there. Or think about the market that they are in. For example: did you lose weight, did you get healthy, quit smoking. Or did you learn some new skill sets that helped you take you career or business to another level.
Continue To Invest In Your Education
These are certainly good places to start when thinking about how to make money with affiliate marketing online. You may be in a situation that you can’t really think of anything that’s added a huge amount of value to your life or transformed your life that much.
Well, that may not be a bad thing. This can be looked at like having a big red flag being waved in front of you. What that red flag is effectively saying is, “It’s time to wake up and start investing in yourself”.
If you’re really serious taking your life to a whole new level then you should never stop investing in your education. You should never stop investing in experiences of learning from experts. Stuarts has spent $ 100,000’s every year or two in his education. Signing up with private masterminds, signing up for courses, attending seminars and learning from people who inspire him in different areas of his life that he wants to work on.
As an example he’s sold affiliate products on self development and business type products that help you take you business to the nest level. Students of Stuarts business have often been so excited to go out and sell and promote his SFM and DEA products because of the transformational effect the products have had in their lives.
So the message here is to not to just sell anything but to really focus on thinking and finding the type of products you are going to sell. This will help you will make money with affiliate marketing online much easier and you’ll enjoy it much more if you promote and sell products and services you really believe in.
Another mistake people make is in thinking that selling low priced products is a great way to start. Because it’s cheap and low cost it should be easy to sell and so you can start making money more quickly. Stuart is not saying that this type of thinking is necessarily wrong or the wrong way to get started… but quite often it is.
The reason this is a wrong way of thinking is this – if you are getting paid $ 20 per sale for a product and you wanted to make a couple of thousand dollars a month to get started, you would need to sell 100 of those products every single month to make $ 2000. I don’t care how good you are at marketing or how much you believe in a product – for anyone getting started without a list of subscribers – selling 100 of anything will be difficult to do.
High Ticket Commissions and Residual Income
But say if you could find products where you could earn $ 1000 peer sale. These are high ticket products and are being offered by direct sales companies where you make bigger commissions for making a sale. These products relate to what was mentioned earlier and give the most transformational value and are quite expensive.
People are prepared to spend thousands of dollars for products that change their lives. There are ways to endorse and market these type of products and get paid high ticket commissions when a sale is made.
Another area you should be focusing on is residual income. Residual income will not usually tend to pay out the high commissions you get with selling high ticket items, but you will get paid a commission every single month. This happens when you refer a customer who pays a monthly subscription. Examples can be found in the off line world where you pay subscription services for things like the film service “Netflix”, or you pay for a newspaper or milk to be delivered to your home.
There are affiliate programs that pay residual income. For example, Stuarts business, SFM & DEA, own a web hosting company called Digital Business Lounge. Customers are able to build websites, track their marketing campaigns, build lead capture pages and really grow their online presence through that service.
There’s a fee for customers of $ 25 per month for all those services and tools. Stuart and his business partner Jay Kubassek will also earn a commission from the monthly subscriptions paid by customers of the Digital Business Lounge. They have a 7-figure yearly income that is comes purely from residual income. So they have a huge income that they receive whether they are working or not.
Typically it takes longer to grow that residual income as commissions tend to be smaller than those with high ticket products. So it tends to some time to grow this type of income but the earlier you start the sooner you’ll start receiving the benefits of the regular monthly residual income payments.
Why High Ticket Products?
One of the reasons some people do not sell high ticket products is because they can’t understand why people are spending $ 1000’s on products. For example (let’s get a bit metaphorical here), if you were on a magical island where there was an abundance of wealth, and nice things happening all the time. On a neighbouring island there was a lot of poverty and people were struggling to live comfortably.
The people who were struggling could see the nearby magical island where everything was great and there was abundance of good things. They wanted to get to that island and improve their lives. But how were they going to get there?
They could get to the magical island by buying a set of flippers to swim across. This would take them weeks and they would have to endure the dangers of swimming across shark infested waters and the possibility suffer dehydration. A lot of people would choose this method and buy the flippers because they are affordable and it would give them a chance of getting to the magical island, albeit with the dangers involved and the long time it would take to complete the journey.
There is also the choice of buying a canoe to make the journey. This would cost five times the amount of the flippers but it would get them to the magical island quicker and with less danger.
The next notch up would be having the opportunity to buy a jet-ski to journey across to the magical island. The jet-ski would cost more than the flippers and the canoe but it would reduce the time to get there and also drastically decrease the dangers involved.
Now there’s also a speedboat for sale where you don’t even have to drive yourself – it’s almost a ‘done for you’ service. This would drastically reduce the time to get to the magical island but it’s expensive, much more so than the flippers, canoe and jet-ski’s and speedboat on it’s own. We are talking about 50 X more than the cost of the flippers. Now there are going to be less people that can afford the speedboat ‘done for you’ service and it will be a very specific market of people who will be in a position to purchase it.
The reward for the person buying the speedboat is they are virtually guaranteed to get to the magical island and improve their lives and those of their family in a much shorter period of time and without the dangers involved in some of the other methods of transport mentioned previously.
Finding Solutions To Peoples Problems
It’s the same when it comes to the question of how to make money with affiliate marketing online. People are constantly looking for solutions to their problems, much like the problems of getting across to the magical island and deciding which solution to use – the flippers, canoe, jet ski or speedboat.
In the world of digital marketing and promotion of products and services there is not usually the selling of flippers, canoes, jet ski’s and speedboats. But what you do get is the sale of information products, education, mentorship programs and seminars.
The point here is that there’s always a market for people who want to get somewhere faster, more effectively and with less danger along the way. They’re willing to invest and pay for the privilege of this more efficient service.
The difference in products and services in this scenario would be comparable to:
* Signing up to a free course where you can get eBooks and videos
* Signing up to a membership site with regularly updated training videos
* Signing up with a personal mentor
* Signing and attending a 3 day workshop with hands-on training with 6 – 12 months one-to-one support
And of course there would be a difference in prices but what I’m sharing with you now is the exact business model of the Six Figure Mentors (SFM) and Digital Experts Academy (DEA) which provides eBooks and information, membership sites with video and training, one-to-one mentorship, seminars and workshops and also intense partnership programs.
The result for people who invest more in their education is that they do reach their goals quicker and without as many risks as those with lower priced products and services. It’s also done with less efforts as there is more leverage and more support with higher ticket items.
In the world of internet marketing it’s learning how to make money with affiliate marketing online the fast and simple way. There are lots of different products and services that you can go out and promote but what Stuart recommends is promoting a range of different products and services.
Find product lines and marketing funnels with an integrated product suite that has a variety of products at different levels and price ranges. Be in a market place where there is a growing range of products which enables you to earn more and more money for the sales that you’re making.