In the past, creating a new business to generate extra income unique company names involved setting up a ‘bricks and mortar’ outlet with stock, rent, staff and all the other associated business headaches. Now, with the internet, setting up your own work from home business is much more efficient.
In this current economy more people are starting to look at different ways that they can earn some extra income. All too many of us are working longer hours and earning less money than we did a few years ago.
The fall and decline of some of the high street names has made some people think that the whole business world is collapsing. But, for an online business idea, the digital world of the internet, business is booming! The “digital economy”, is showing a trend of people shifting their focus to creating their own businesses online instead of working for someone else in a ‘traditional business’.
When it comes to an online business idea, one of the easiest and most profitable methods is through affiliate marketing. This is because becoming an affiliate marketer requires no experience, no stock and simple promotional techniques that will convert prospective buyers into customers.
It is quite a simple online business idea – you promote products and services of other vendors and when they are sold, you make a commission.
It takes some basic things to be successful at affiliate marketing:
- Staying focused.
- Picking a niche product to start with and then getting started.
- Making a schedule and then sticking to it.
- Be willing to learn how to successfully implement your online business idea into reality
Where do you start with your online business idea?
One place to start is ClickBank, which is like an warehouse retailer of digital products. With over 10,000 digital products, it is one of the premier affiliate networks. It is easy to use, easy to join, and there are products in many different markets. You will certainly find a product that you would like to promote here.
In order to earn commissions, all you need to do is create an account with an affiliate ID, find a product that you want to promote and create a link that you can send customers to.
When they click on your link, it will record your commissions when they buy the product.
When you are working on your online business idea and looking at ClickBank, you will see a few references to each of the products.
Sale Price: This is the amount that affiliates are earning for referring customers.
Percentage of Sale: This is the average percentage commissions earned per affiliate per sale.
Gravity of Product: The gravity number is important because it shows the popularity of the product over time. Every time the product is sold or a new affiliate joins and uses the link, the gravity of the program will change. When you are starting out with affiliate marketing on ClickBank, ideally you want the gravity rating for the product that you want to promote to be between 20 and 100. If it is more than 100, it means that is a lot of competition selling this product. If it is less than 20, it means that there is not a lot of interest in the product.