Affiliate Marketing

The most successful entrepreneurs not only focus on their best selling products, but set up multiple streams of revenue to support their core business.

For the last several years travel companies are using the Internet is like a treasure island. Sure, setting up a website can be great fun but if you want your online business to make you money, you’d have to think beyond just selling 1 product or a service.

Selling wide and Selling deep

Selling Deep:
The best travel businesses offer extra services even after the sale. How many travel agents don’t offer insurance, passport services, or cruise tours after they make the sale? And there are many other services you can offer before and after the sale.

Selling Wide:
As an example a hotelier or travel agent may not want to handle luggage or passport services but it is easy enough to include recommendations with a reputable company. This can bring in extra revenue and most importantly create a one stop shop for the customer and create credibility for you.

They devise ways to work with joint venture partners who have customers that may want their products or services, or who have revenue streams that are different, but complementary, to their own business.

Think of your business as a Revenue Octopus, creating a powerful methodology you can use to diversify your revenue streams and supercharge your business. Whether you are preparing for double-digit-growth or seeking stability in uncertain economic times, providing more sustainable services and products to your customers means more reasons for your customers to come back to you.

So, as you are working hard every day to build your travel company with your core products, recognize that revenue diversification is critical to the success of your business, and that arranging those revenue streams strategically is critical for your success.

The Internet has evolved as a marketplace in both business-to-business and consumer-to-consumer purchases. Many consumers are influenced in their buying decisions by information available to them online.

With online affiliate sales projected to be in the $20-30 billion range this year, you can safely say that online purchasing is not regarded as a novelty any more.

What is an Affiliate Program?

The concept is simple, an affiliate program is a revenue sharing arrangement between a Website owner (the affiliate) and the manufacturer or provider of a product or service (the Merchant). The merchant pays the affiliate for sales or leads based on referrals, click-throughs or sales.

Online affiliate programs are a win-win situation. Merchants can quickly and easily develop a sales force on the Internet, and affiliates have instant products or services to sell on their Websites, thereby adding another revenue stream to their businesses.

Online Affiliate Strategy

Selecting the best affiliate programs for you and for your travel website.
Determine the best affiliate programs by focusing on your target market and offering products or services that will be of interest to your online viewers.

Select quality travel related products.
When selecting your affiliate programs, make sure this is what your visitors and customers want. Also compare commissions and the quality of products or services offered. One of the most effective ways to market your affiliate programs is to make a personal recommendation for the affiliate’s products or services. Do not risk your name by endorsing shoddy products or services. Equally important, do not make personal recommendations for products you have never seen or used.

Select affiliate programs that meet your website and what your visitors want.
Promote products that offer you the chance to realize some income. Some successful affiliate programs offer two-tier payment plans allowing you to collect a percentage of the sales from those whom you sign up as affiliates.

Read and understand your affiliate agreements.
How long is the term of the agreement? Can you opt-out? Is there an exclusivity clause, meaning that you cannot sell similar products for another company while selling this merchant’s products?

Learn how your sales will be tracked.
Is a third party audit available? Can you view your sales to date online? Via email?

Understand the payment system.
Is payment in cash, credit, or products? Read the fine print so that you know if there are minimum payments. Some programs only pay you after you have accumulated a certain amount in commissions.

Review the marketing process.
The most successful affiliate programs offer marketing supplies, including banners, buttons and ad copy.

Learn about your products.
If you are selling books or training courses, are you giving personal recommendations for products you have never seen or used?

Now, market your website.
Marketing is also a big part of getting viewers to your site and an email campaign helps keep interested viewers coming back.