One of the major benefits you get from owning the rights to your own products – like information product developers do – is that you not only get something unique to sell online, but you can afford to pay an incentive to well positioned online players to put your website and products in front of their highy responsive audiences.
Partnerships, affiliate relationships and joint ventures are all well within the reach of anyone who develops a more than mildly in-demand information product.
Take almost any market – health, personal development, business, marketing, dog training, bowling, lego building, etc…and you will find major authority sites that have deeply established websites with their visitors.
How do you become front-and-center on these authority sites gaining thousands of additional eyeballs with the potential to reap 100’s of additonal sales for your ebook, book, course or infoproduct each month?
And…when you start your own affiliate program using a front-end software application like 1automationwiz (the software we use to manage over 2000 affiliates for our program), you have to decide how much of each sale will go to your partners or affiliates.
Here are some important concepts to keep in mind…
1. If you have structured your business correctly, partnership referrals will go to a page where you have a decent conversion into an opt-in list (either offering a bonus download, minicourse, e-course, etc…) so that you can continue to market to this prospect until they decide your information is no longer of value.
2. Remember, just 10-15 well-placed affiliate referrals will give you 1000’s of extra visitors, into the high hundreds of opt-ins and into the low hundreds of extra sales each month (depending on a decent 2-5% conversion of visitors to buyers) – so you can afford to pay a decent commission for those sorts of results.
3. Think of your infoproduct business as an ecosystem of products and services (at least in the longer term) that can easily earn $Million if nurtured in the right way – which means growing visitors, referrals, subscribers and customers gaining momentum month after month. You can’t do this through just advertising, SEO or other methods as well as you can with a growing partnership network.
When you see commission rates of 30-50%, don’t become disillusioned – because you are earning almost 100% profits from information products, you can afford to pay out higher commission rates in return for unlocking the key to tens of thousands of subscribers.
Now that’s the sort of big thinking it takes to build your own wildly profitable online marketing business.
Jeff
