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You're starting a business or you may have one , But you don't have the money to spend on marketing , What should you do? , Hey, everyone, I'm Neil Patel and today I'm going to explain what affiliate marketing , is and how you can leverage it , The cool part about affiliate marketing is that it's performance based marketing , If someone drives you a lead or a sale, you pay them out. You pay them on a cost per acquisition , Acquisition can be a lead or a sale for you , You determine whatever it is , And you can even determine what you want to pay people , If your product sells for W bucks and your margin on it is W - in essence you're operating at , a W% margin - and if you decide: "hey I'm willing to pay someone a $W for every , sale they drive me" then you can offer affiliates "Hey for every sale you drive me, I'm going , to give you a $W" , And they may decide that they're going to drive these sales through SEO, Pay Per Click, , Facebook advertising , Whatever it may be , And that's up to them , That's what affiliate marketing is all about , Now there's a few things that you to know about affiliate marketing , Number one: it's really hard to recruit affiliates , Where do you look for them right? , You can't just go around the web to go find marketers and say "hey, you want to join my , affiliate program?" , Instead, you want to join networks like Click bank.com , So when you join these affiliates networks and you talk to them, they'll tell you: "Hey , here's your product , Here's what you should price it at for CPA , This is what you should pay people every time they drive you a sale." , And they'll make sure it's competitive and you're not losing money , Because the last thing you want to do is be willing to pay someone $W per sale when , it costs them $W , Because if it costs someone $W to drive you a sale, they're not going to take $W , That means they're going to be losing money , Especially if you're making thousands of dollars , They're going to be like: "no, you gotta offer more." , You have to be competitive , And companies like Click bank that offer affiliate networks will tell you what you should price , your offer at , There's other ones too, like another site that I use is JV Zoo , JV Zoo is also another place that you go to recruit affiliates , In addition to that, you can also go to conferences like Affiliate Summit , Affiliate Summit or Affiliate World are really big affiliate conferences where all these , marketers go and they're looking for new offers to promote , So go there and you'll find people who'll be willing to promote your offers and these , conferences even teach you how to price your product, what to sell it for, what to give , affiliates to incentives them etc , The second thing you need to do to continually optimize your own website , If people are driving traffic, but those visitors arena't converting into customers, that means , they're either driving irrelevant traffic, but most affiliate marketers are good at what , they do , So usually the traffic sources typically qualify or it means that your web page USN't converting , and your web page not converting is usually the issue , So you want to run surveys , You can use Quarrel.com , That's a tool that I love using and you can ask people questions on your landing page , such as: "What else would you like to see on this page?" , After you get W plus responses, you'll get a really good understanding of what's wrong , and you can fix those things , As you fix those things, you'll notice that your conversions will go up , In essence, the more visitors coming to your website come more of them will convert into , sales because you're fixing the conversion , While before you may have had over a thousand visitors to your website and zero buy, and , now it could be that after you fix the conversions, a thousand come and ten buy , That's improving conversion rates and that's what happens , Another tool that you should use is Crazy egg.com and with Crazy egg it will show you where people , scroll, what they click on , It'll track the mouse movements of your visitors and that will give you insights on what you , need to change so that you can maximize your conversion rate , So if you do those two things, you can generate traffic through affiliate marketing , And affiliate marketing is one of the most powerful marketing techniques or tactics out , there , Especially for businesses that don't have a tonne of capital , Because you only pay money for sales , And when you're paying out the money for these sales, pay on a Net W basis , Because sometimes you'll get refunds or credit card fraud , You don't want to give out payouts for people who you're refunding , So to ensure that you're not getting ripped off by these affiliate marketers, make sure , your payouts are Net W.
