Digitalization In Marketing: If you are really serious about building a business, then you need to follow these 12 easy steps.
Digitalization In Marketing- What would you do if you actually knew Digital
Marketing?
Digitalization In Marketing. Getting noticed on the Internet – Digital Marketing for Small Business. The Internet has grown from a small network of academics needing a way to trade research into a world-spanning, marketplace.
How does a small business avoid being washed away in the constant tide of buying, selling and marketers hawking every conceivable item (and some difficult to conceive…)
The Internet provides advantages for both customer and proprietor in that one can search for exactly what is desired, without the bother of endless phone calls, driving to malls, or poring over mail-order catalogs.
What Is Digital Marketing?
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Affiliate Marketing in conjunction with well known companies, such as Clickbank, can be very profitable and rewarding. Your payments are guaranteed every 2 weeks and is entirely up to your Marketing Efforts and Abilities on how much you get paid. I also bought into and highly recommend John Crestani’s Super Affiliate System (SAS) for Affiliates.
A quick keyword or 4 and hundreds of results vie for attention on the screen. Making sure your company is one of those results near the top is a combination of factors: specificity in product offerings, Search Engine Optimization of web content and linking to and from related topics and sites.
The only way to get noticed on the Internet is to have a listing or presence, whether a dedicated website, ads on relevant sites, or by word-of-mouth.
Digitalization In Marketing
Oftentimes ads on online journals, informative sites, or e-zines (online magazines) are cheaper than space in a print publication, as well as being available to a wider audience than a dedicated website may be.
Rates are often available for daily, weekly, or monthly terms, increasing flexibility and allowing a tight budget more leeway.
Word-of-mouth advertising can be very cheap, but the returns may be difficult to quantify. Sponsoring web shows such as podcasts or webcasts can be a great and cheap way to gain word-of-mouth exposure.
Many times, a podcaster will be so thrilled to gain sponsorship that rates can be negotiated for very little, but make sure to approach a podcaster that has a show related somehow to your business.
Don’t overlook resources like Google’s Adwords either, as they can be slightly pricier than similar options like banner ads, but they are shown to be far more effective than pop-ups, banners, or pay-per-click ads due to their specific targeting.
When a potential customer decides to look up a product that you sell, is he or she going to find your site or listing?
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Being specific in the terms used on your site or listing is key, as keywords are what drive the search engines like Google and Yahoo. If your company sells shoes, it’s not enough to put the word “shoes” on your site–it has to be anticipatory to the searches that potential customers are doing.
Most customers have an idea of what they are looking for when doing a search, so instead of “shoes,” a customer will search for “imported Italian leather shoes.” Specific focusing of terminology and product listings are involved in Search Engine Optimization (SEO), as SEO is driven by specific keywords and their repetition or location on a page.
If the term “Italian Leather Shoes” is used 15 times on a website, it will pop up higher on the rating listings than one with the same words, but only as a page heading or title.
It would be easy to go overboard on this if it were the only criteria, but it is only one of many different methods search engines use to list websites by relevance.
Our article on Search Engine Optimization, located here, is a great reference to optimizing your site for maximum Search Engine Performance.
With a clear idea of where you want to go with Internet marketing, it can be a valuable tool to expand your business into the digital realm, but be careful not to go overboard, as all marketing eventually crosses into the zone of limited return.
Customers are looking for what they want–it’s up to you to make sure they run into you, and the only way they will is for you to make sure your business is at the places they are going to go.
Digitalization In Marketing. Affiliate Profit: Are you losing money?
I have bad news for you: You are probably losing money and you didn’t pay attention to it! Let me explain…
When you joined affiliate programs you probably considered the following factors:
– The commission
– The conversion rate
The profit formula looks like a child play: Commission x Conversion Rate = Your Profit
In fact there are three big pitfalls here and if you don’t manage them properly, your profit is at risk. Let consider them:
– Price: A high price means a higher affiliate commission for every sale but it may result also in a lower conversion rate If the product is too expensive, nobody will buy. You shouldn’t be blinded by the promise of a very high commission.
You should keep in mind that the best price is not the one that gives you the highest commission but the one that makes the highest profit. An optimized pricing that makes satisfied customers and satisfied affiliates is what you should look for.
– Refund Rate: Refunds can kill your marketing efforts! What are worth the sales you see in your account if customers request their money back? A lot of sales mean nothing unless you keep the money!
This is the whole responsibility of the merchant to keep refunds as low as possible. A site that sells well is good. A site that also keeps refunds very low is much better!
There is only one way to keep refunds very low: To deliver very high quality services meeting customers’ expectations or going beyond what they could expect!
– Product Quality: Quality is king! Quality makes superior conversion rates! Quality enables higher prices and better commissions! Quality keeps refunds as low as possible!
Digitalization In Marketing.2
In a word: Quality should be your compass. Don’t associate your business with low quality products or services. On the top of your list, promote only the very best. It will also keep your profit on top.
How much money are you losing today?
The money you earn and lose is significantly determined by the quality of the affiliate program you have selected as your top pick.
The question is: How do you measure what is more qualitative and what is less?
There is an objective criterion to use for answering this question and for optimizing your profit: The refund rate of your top affiliate program!
A high refund rate express clearly that lots of customers are not satisfied with what they get and that affiliates lose money on their sales. On the contrary, a low refund rates indicates a high level of satisfaction among customers and safe earning for affiliates.
If you get many refunds with your top affiliate program, you should understand that the quality of this program isn’t sufficient for keeping these customers satisfied and it doesn’t do the necessary job for securing your profit You are losing money!
What are good, medium and poor refund rates?
Refunds can’t be totally avoided. There will always be customers that are not satisfied even for the most qualitative product or service. So, expecting a zero refund rate on the long run is not realistic.
You should wish a refund rate as low as possible in your industry. It’s important to consider that there can be significant variations from one industry to another but as a rule of thumb you can use the following scale:
2% or less: Excellent
3% – 5%: Good
6% – 10%: Medium
11% – 15%: Poor
16% – 20%: Very Poor
21% or higher: Run away!
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With a 5% or less refund rate you can be happy. Your affiliate program is reliable and your profit is secured. With a 6%-10% refund rate, you should monitor closely your merchant performance to ensure it doesn’t get worst.
It would be advised to scan the market for a better alternative if you can find one. With an 11%-20% (or higher) refund rate you should be very concerned with your profit. Whatever your industry is, you are bleeding and there is probably a better affiliate program to promote.
What is the refund rate of your top affiliate program?
There are two ways to find the refund rate of an affiliate program:
1) Look at the stats supplied by your affiliate program
Do your math as following: Refunds / Sales = Refund Rate
Let say you make 1000 sales per month, you get a $23.50 commission per sale and about 160 customers request their money back every month. Your refund rate is 160 / 1000 = 16%.
In that case it means that you should have earned $23,500 for your sales but you will get only $19,740 because of the refunds. You lost here 16% of your profit or $3,760!
You can ask yourself: Is it only I or all affiliates for this program get similar numbers? If you use Clickbank to promote affiliate programs, you can get the big picture about the whole community of affiliates that promote an affiliate program.
2) Using Clickbank payout stats to calculate the average refund rate of an affiliate program
In its marketplace, Clickbank publishes payout stats for affiliate programs. The $Earned/Sale factor gives us exactly what we need to calculate the average refund rate of a program.
The $Earned/Sale is the average net amount earned per affiliate per referred sale. This number is mainly impacted by refunds and it reveals the real commission earned by affiliates. With this number, you can have an inner look at the real performance of affiliates programs.
The average refund rate of an affiliate program is:
(Commission – $Earned)/Commission = Average Refund Rate
Digitalization In Marketing. How to identify quality in affiliate programs?
Defining quality is a difficult job. In general, people can’t define clearly what quality is but they recognize it when they see it. So what should you look at in affiliate programs?
The most qualitative affiliate programs find the right balance between the value they offer to customers and the value they generate to affiliates:
1. Value to customers It includes:
– Rich content
– Good looking website
– State-of-the-art organization
– Friendly functionality
– Affordable Price for most visitors
– Detailed documentation
– Bonuses strengthening the main offer
– Timely Customer Support
2. Value to affiliates It includes:
– High conversion rate
– High commission
– Low refund rate
– Commission paid on time
– Good affiliate support
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In Conclusion: Digitalization In Marketing. Webinar Starts Soon- How to Earn a 6-Figure Side-Income Online with Affiliate Marketing for Beginners. ONLINE TRAINING: JOIN John Crestani’s 6-WEEK TRAINING COURSE- “How to Build Your Own Affiliate Marketing Business From Nothing…” Send Me The Online Training Now: https://blueoceanway.info
Training will be taken down at any time due to High Demand for this product.
Affiliate Marketing in conjunction with well known companies, such as Clickbank, can be very profitable and rewarding. Your payments are guaranteed every 2 weeks and is entirely up to your Marketing Efforts and Abilities on how much you get paid. I also bought into and highly recommend John Crestani’s Super Affiliate System (SAS) for Affiliates.
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