Creating Your Own Successful Bitcoin Business-Part 63

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Author : My Dirty Little Bitcoin Secrets PDF EBook by Ofir Beigel

You don’t have to have a lot of technical knowledge in order to set up an affiliate program. You can either use your own affiliate software, buy an “off the shelf” affiliate software product or sign up as an advertiser in an affiliate network. I personally prefer the latter since it’s the fastest and easiest one to do, it also frees you from dealing with all sort of maintenance issues and chargebacks. For example, I have set up an affiliate program for this book as well. Instead of trying to take care of everything myself, I just signed up to Clickbank which is the web’s largest affiliate network for information products. Clickbank now takes care of everything - tracking my affiliates’ traffic, their sales, taking care of payments for my customers and even the refunds. The only thing it cost me was $50 to set the product up and around 7.5% in transaction fees. You may think to yourself that those are a lot of fees, and you’re actually right. But we want to start out lean don’t we? So if I see that a large part of my sales comes from affiliates, I may consider moving to a self-hosted affiliate program. But until then, why should I even bother about it? Unfortunately today there is no dedicated Bitcoin affiliate network (did someone say “business opportunity”?). So in order to find the right affiliate network for your product I’d suggest just using Clickbank for information products. If you have a physical product, there are several networks I’d check out but I haven’t had any personal experience with them.

CJ. Linkshare. ShareASale. You can find a complete list of additional networks for 2015 here. When working with affiliates you have to make sure to make it worth their while. For example, I’m giving away 70% of the sale price as affiliate commission on this ebook. I’m doing this since affiliate revenue is basically “free sales”, it doesn’t cost me anything to bring them in. And since this is an information product that doesn’t have any recurring manufacturing cost I can allow myself to give such a hefty affiliate commission. Of course if this was a physical product I couldn’t give away as much since I would have more expenses on each product made and would want to earn some revenue. Remember, affiliates only get paid if they deliver actual results so it’s basically a win-win situation. Probably the most powerful marketing tool since the conception of the internet until today was and still is email. Before we get started I want to make something clear, when I talk about email marketing I don’t mean spamming people with annoying marketing emails. I’m talking about asking for your visitor’s email address so you can create a relationship with him via email and perhaps also get him to buy your product. The main difference here is that the user agrees to let me send him stuff and it’s not illegal. The CAN-SPAM act23 describes exactly what you need to do in order to be considered as compliment with the law when sending out emails, but you don’t need to read through the whole document, I’ll break it down to you later on.

I know many people don’t get all of the fuss going around about email but there are a few reasons why email marketing is so powerful. 1. Everybody checks their email - Unlike Facebook, Twitter or any other form of marketing, email is something that 100% of your prospects have. Over 4 billion people around the globe have email accounts24 compared to 1.23 billion Facebook users25. 2. Everybody gets to see your email. On Facebook for example, only 35% of your friends or page fans get to see your post26. With email, your message gets delivered 100% of the time. Sure, you may fall into the SPAM folder or the promotions tab on Google but we’ll talk about that as well. 3. You can customize your email so that they will address your user personally. If you also have a name associated with an email address you can send super-targeted personalized emails, a feature which isn’t available in any other medium. www.ftc.gov/system/files/documents/plain-language/bus61-can-spam-act-compliance-guide-business.pdf. www.radicati.com/wp/wp-content/uploads/2013/04/Email-Statistics-Report-2013-2017-Executive-Summary.pdf. www.prnewswire.com/news-releases/facebook-reports-fourth-quarter-and-full-year-2013-results-242637731.html. www.businessinsider.com/35-percent-of-friends-see-your-facebook-posts-2013-8. www.jonloomer.com/2014/03/24/true-facebook-page-post-reach/.

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