Once you’ve collected leads, it’s time to segment, which essentially means that your splitting the list of names into smaller lists. The first an most obvious split to make is into prospects (people who might buy) and non-prospects (people who won’t buy). After that, though, you might still have a huge list of leads that never make their way down your sales funnel. Why? You aren’t segmenting!
However, some of the world's top-earning blogs gross millions of dollars per month on autopilot. It's a great source of passive income and if you know what you're doing, you could earn a substantial living from it. You don't need millions of visitors per month to rake in the cash, but you do need to connect with your audience and have clarity in your voice.
Eventually, your company’s marketing program will get so big that you can’t — possibly — manage everything via Outlook, Word, and Excel spreadsheets. You could always hire a team of marketing specialists, but eventually, you’re going to start wasting cash on redundant tasks like emailing new customers, setting up social media-to-email programs, and emailing your users every time you post blog content.
The General Data Protection Regulation (GDPR), which took effect on May 25, 2018, is a set of regulations governing the use of personal data across the EU. This is forcing some affiliates to obtain user data through opt-in consent (updated privacy policies and cookie notices), even if they are not located in the European Union. This new regulation should also remind you to follow FTC guidelines and clearly disclose that you receive affiliate commissions from your recommendations.
If you’re publishing good content, generating a steady flow of new, organic leads, and you’re ready to scale your efforts, chances are it’s time to focus your efforts on a marketing automation strategy that will nurture those quality leads into paying customers. Here are some good questions to ask yourself when deciding if marketing automation is the right move for your business:
As a software engineer myself, I can tell you that building funnels from an application standpoint takes massive amounts of work. There's a great deal of coding and integration that's required here. From email systems to landing page implementations to credit card processing APIs, and everything in between, so many platforms need to "talk," that it takes the bar too high for the average marketer.
You can also segment in other ways. For example, maybe you segment into order size: people who order more than $50, people who order $30 – $50, and people who order less than $50. If you offer a coupon for 10% off an order of $50 or more, the people who order that much anyway just get some free money, and the people who typically order less than $30 probably won’t take advantage. But the people who order between $30 and $50…for them, this is a goldilocks coupon (i.e. it is just right). It encourages them to spend just a little bit more on their next order.
You’ve given the prospect all of the information they need to make a decision by this point; they simply need to make it. Lots of people get stuck in this part of the sales funnel, so it is your job to nudge them closer and closer to making a sale without being too pushy. A great option would be to throw in a bonus for free to to offer a limited-time discount.
There is serious competition in the affiliate marketing sphere. You’ll want to make sure you stay on top of any new trends to ensure you remain competitive. Additionally, you’ll likely be able to benefit from at least a few of the new marketing techniques that are constantly being created. Be sure you’re keeping up to date on all these new strategies to guarantee that your conversion rates, and therefore revenue, will be as high as possible.
No matter how good your marketing skills are, you’ll make less money on a bad product than you will on a valuable one. Take the time to study the demand for a product before promoting it. Make sure to research the seller with care before teaming up. Your time is worth a lot, and you want to be sure you’re spending it on a product that is profitable and a seller you can believe in.