2013/07/19

Plan Your Monetization Models

As a service seller, your #1 goal has to be the “sale” of your service -- getting that first contact from your prospect. That’s perfectly understandable. Even so, don’t discount the idea of affiliate marketing and its potential secondary income. This DAY will highlight the affiliate monetization model but keep in mind that you do have other models to consider…

Out of every 100 visitors to your site, it’s likely that only a small percentage will follow through and contact/hire you for your professional service. The others? Well, maybe they have slightly different needs. Perhaps they are looking for a lower-cost option or they are “just looking, thanks.” There may be any number of reasons why a visitor may not be an ideal candidate for your service.

You could, if you wished, let those visitors proceed merrily on their way. But why would you? After all, you worked very hard to get them to your site, right? So why not make recommendations for niche-related, non-competing products and/or services that may be more suited to the needs of those visitors? That way, your traffic is not wasted. Instead, it supports an additional revenue stream.

But there’s another bonus...

By offering links to non-competitive sites that provide solutions for your visitors, your site becomes an even more valuable resource. This is doubly true if your service is locally based and unlikely to be of interest to anyone outside of an hour’s drive of your office.

• Ideally, you don't want to leave any money on the table. Your visitor may not respond to your primary Most Wanted Response, but she may be attracted to one of your secondary offerings.

• The key is to never be dependent on any one income source -- “all your eggs in one basket” is a high-risk strategy. By diversifying, you increase your revenue, stabilize your business, and take charge of your own business destiny.

Grow a list of good merchants with affiliate programs that have product lines that fit. Then choose the best ones and group them according to high-profitability keywords. For example, you may want to investigate Amazon’s aStore…

http://astore.amazon.com/

or eBay’s Editor Kit…


https://www.ebaypartnernetwork.com/files/hub/en-US/index.html

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