You want to start an online business, but you realize that you don’t have a product, a website, or prior experience. You now ask yourself, where do I start? Start with affiliate programs.
What is an affiliate program?
An affiliate program is a program set up by a company that sells products or services. When you introduce new customers to the company you receive a cut of the profits, in other words, a commission of the sales made.
Some companies pay you for sending them leads. Others pay only when the visitor that you send them makes a purchase.
How to join an affiliate program
Most of the time all you have to do is provide your contact information and agree to the company’s terms and conditions. Some companies will charge you a small fee to get started.
If the company charges a fee to get started, make sure that they provide a toll-free number so that you can speak to a live person for support and questions.
5 Things to look for
1. Find out how much the company pays its affiliates. It can be a flat rate or a percentage. If they are paying you a percentage then you may want to look at the price of their products to figure out how much you will make per sale.
2. It is important to know how many levels or tiers the affiliate programs provide. Some programs are two tiers, three tiers, and some will go up to ten tiers. This simply means that if you refer another affiliate to the program you will earn a commission on the sales that they make.
You want to go with a company that has at least a two-tier program because this will allow you to earn residual income.
3. Does the program provide you with your own website; or a link for you to send visitors to? Many companies will provide you with a replica of their website with your own sub-domain. When someone makes a purchase through your website, the company knows who to send the commission to.
If the company does not provide you with a website they will provide you with your own link for you to send visitors to. These are the most common ways for the company to keep track of who sends them the visitor.
4. Does the company pay you a commission on the future purchases of your referrals? Many companies will pay you for all the future purchases that your referrals make. If your referral purchased a subscription, you want to go with a company that pays you a commission for the monthly payments that your referrals make.
5. The fifth thing to look for in an affiliate program is if they provide you with content. You want to join a company that provides you with banners, emails, and text for you to add on to your website.
If you don’t have your own website, you may want to join a company that provides you with tips and advice on how to promote its products or services.
Starting an online business with affiliate programs has many great advantages. You will never have to worry about buying or shipping products or dealing with any of the customer services since you are not selling your own product.
Affiliate programs give most individuals plenty of time to concentrate on promoting the products that they are selling. If you do your research and marketing; and find an affiliate program that pays well, you will be very successful.