MONETIZATION MODELS FOR YOUR ONLINE BUSINESS

Monetization models are those things you have to put in place on your website so as to make money legitimately from your online business. Here are a few of them:

  • Affiliate Marketing
  • Google Adsense
  • Google Adwords
  • Information Product Marketing
  • Sales Message Writing
  • Forum
  • Blogging
  • Bulk SMS Marketing Business
  • Online shop/store
  • Listing sites/Advertising
  • Online Newspapers
  • Online Research Firm
  • E-zine/ e Newsletter Publishing
  • Game Website

We shall discuss them in detail below, as we consider them as online business opportunities.

HOW TO BEGIN YOUR ONLINE AFFILIATE BUSINESS

Affiliate Marketing is one of the monetization model use by website owners to generate income online. One of the purposes of this website is to show you how to begin an online affiliate business. If you really want to learn how to start an online affiliate business, you must first begin with understanding who an affiliate is. Some people say that an affiliate is a middleman. That may not be completely true because this would suggest that the affiliate marks up a product and then sells it on to the consumer.

This is not so, an Affiliate is basically an online sales person that can promote any company’s products or services that has an affiliate program.

To really know how to begin an online affiliate business you need to know this fundamental fact, affiliates do not sell, their objective is to pre-sell. Your goal as an affiliate is to introduce the product and then let the merchant do the selling.

Secondly, as an affiliate, your main objective is market research in term of features that best increase customers preference for the product. In fact, part of your research is to find out what people are looking for in a particular product benefits.

More importantly, you need to find out what they really want. Once you do this then you can start looking for products that will supply these people’s needs.

The most important part of your affiliate business is to provide enough content or information about the product you want to promote.

So your ideal situation at least when you start an affiliate business is to find a market that has high demand and low competition.

You must discover an emerging niche and focus your marketing strategies on such audience. To really learn how to start an online affiliate business, understand that it all starts with market research.

Once you have found your market, next is to have a website. You will need to build a website that provides information to that market.

For example, if your niche is about poultry farming, you will need to provide content related to this topic on an affiliate website, a blog site or an ordinary website.

This content will have your desired keywords in it, so that if people put in those keywords into the search engines (let say google.com or yahoo.com), your webpage surrounding that topic will come up.

Then if your content is good, you can do some pre-selling by placing the affiliate links around your content and when they click through to the merchant and close a deal, you will get paid a commission. Your job is to provide the content, while the merchant provides the product and do the selling. In summary, your content pre-sell the product, that is prepare the prospect mind to buy the product.

In summary, your job will be to pre-sell products; however, you will not be doing the selling. You essentially will be warming the visitor up so that when they get to the merchant page they are more open to the offer as opposed to being on the defensive.

Basically, you introduce the visitor with some good content and this is how to begin your online affiliate business. All information above provides the fundamentals on how to start an online affiliate business via your website.

Types of Affiliate Marketing Business

(a). Affiliate Marketing – that promotes related products

(b). Affiliate Website – that promotes specific products

Both are affiliate programs, in the first one you are promoting a product or related products by placing text link or ad or banners on your rich content site, or promoting such text link, graphic link or ad through Google. Affiliate Marketing program that is based on providing rich-content for online audience are also called Content Marketing Affiliate Program. Since the provide related contents to the product or product mix features, online visitors are likely to click any affiliate link and also follow recommendations for this products.

The other type is an automated website that you paid for and use it to promote the product on that website. In this case, those you refer will also have the automated website to promote the same product. Such dedicated website or automated website can also be promoted through Google AdWords or AdSense.

The difference between the two is that in the first, you sign up an affiliate program for free, while in the second you pay a token for your automated website. Both are good income generating sources.

(c). Coupon Website Marketing Strategy

Coupon website are essentially online marketing site using direct marketing to enhance sales in large quantities of a new product. The build a large customer data based by collecting the name, contact information. Coupon Marketing Strategy is primary use when a new product is about to be introduced or a huge discount for a product is about to be introduced due to harsh economic downturn.

The coupon offer appears on the website or is emailed directly to subscribers who show interest in the product offer. The cost of the coupon is made clear, together with the discount and the savings from the original cost and the time for the customers to purchase the coupon are detailed.

Customer then can click to buy now or later since the website set a limited number of people to buy the product before the expiry date elapse. Coupon site usually have a large number of established visitors based and this can make it quite beneficial as its conversion rate and revenue are likely probably.

(d). Selling Digital Assets with little Commission for promotion

By Digital assets, we mean digital content like eBook on any topic that solve a need or provide any useful service for a particular audience. When such eBook are made available to a wider audience or website with large customer based, the likelihood of more sales are certain. For each eBook sold, a little commission can be given to those who promote the book using their affiliate link.

(e). Email Marketing

Email Marketing has been in existence for a long time now. It is a means of keeping up with online visitors to a site, who may want more information and free content. Its provide a follow up strategy to continue to provide enough free contents that will eventually presell the product in a long run.

As someone who want to generate income revenue through email marketing, you must set up an Autoresponder service with a reputable service provider. An Autoresponder is a computer program that automate email sending and responses without the affiliate marketer always in front of the computer to send email regularly. Online audience must have emails and as a results, will always check their email on a regular basis. This way, a regular follow-up via emails and close a deal on a product.

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