Affiliate marketing is commonly confused with referral marketing, as both forms of marketing use third parties to drive sales to the retailer. The two forms of marketing are differentiated, however, in how they drive sales, where affiliate marketing relies purely on financial motivations, while referral marketing relies more on trust and personal relationships.
Over the years, businesses have used many tools for lead management, like the rolodex, contact management software and spreadsheets. But these tools function like a system of record. Sales reps just view their leads using these tools; they don’t get context. And that’s where CRM software (customer relationship management software) fills the void. In a CRM, every lead gets their own profile. This profile contains demographic details, a chronological list of every conversation the lead has had with your business, along with all the data/documents you’ve ever shared with them. And all this is just one part of what CRM software can do.
The term turnkey is also often used in the technology industry, most commonly to describe pre-built computer "packages" in which everything needed to perform a certain type of task (e.g. audio editing) is put together by the supplier and sold as a bundle. This often includes a computer with pre-installed software, various types of hardware, and accessories. Such packages are commonly called appliances. A website with a ready-made solutions and some configurations is called a turnkey website.
Designed to create a huge amount of traffic at all times, these sites focus on building an audience of millions. These websites promote products to their massive audience through the use of banners and contextual affiliate links. This method offers superior exposure and improves conversion rates, resulting in a top-notch revenue for both the seller and the affiliate.
Lead nurturing also increases lead to opportunity conversion rate, drives more revenue, and shortens the sales cycle. It is about finding the right buyers at the right time. Lead generation brings buyers into the funnel, but lead nurturing and scoring sends them to sales so that your sales team can close the deal at the right time. In fact, according to MarketingSherpa’s Lead Generation benchmark report, companies who leverage lead nurturing see a 45% lift in lead generation over those companies who do not use lead nurturing.
What It Is: Do people ask you your secret to perfect pie crust or how you made that wreath? "Everyone knows how to do something, or has a hobby they enjoy," says Kimberly Lawson, owner of OohLaLuxe.net, who has created fashion and beauty tutorial videos. "These can easily be turned into profits." Simply sign up for a free YouTube account. Then use a smartphone or digital camera to record yourself explaining and demonstrating how you work your magic. (If you're more tech-savvy or have a burgeoning teenage filmmaker in your house, you can use desktop software, such as Windows Movie Maker, to create a slicker video.) "Once you upload the video to YouTube, enroll in its partner program," Lawson says. YouTube will then place ads inside or near your video, and you will earn money from the ads themselves, video views and click-throughs. "The key is to put a unique spin on your video," says Lawson, especially if there are lots of others on the same subject.
ROI is probably the most important metric in lead generation. The calculation is fairly simple: it’s the profit or loss you make from investing in a lead, compared against your initial investment. Let’s say you spent $15 capturing each lead, and a lead is worth $20 to you. Your profit from a lead ($5) against your initial investment ($15) gives you an ROI of 33%.
Affiliate marketing is also called "performance marketing", in reference to how sales employees are typically being compensated. Such employees are typically paid a commission for each sale they close, and sometimes are paid performance incentives for exceeding objectives. Affiliates are not employed by the advertiser whose products or services they promote, but the compensation models applied to affiliate marketing are very similar to the ones used for people in the advertisers' internal sales department.
Because lead generation is the first step in the sales process, both quality and quantity are important factors. Quality leads are leads that a salesperson has a good chance of closing, which means they must at least have the potential to become customers. Every lead list will have a number of junk leads – people who are not qualified to buy the product for some reason – but the smaller the percentage of bad leads, the less time salespeople will waste while processing that list. Quantity is also important because even a salesperson with a list of 100% good leads won't be able to close every one of them. A salesperson with 100 good leads might be able to make 10 appointments, out of which 4 will close the sale. Therefore, if a salesperson has a quota of 40 sales per month, she will need 1000 good leads per month just to make the minimum required number of sales.