AFFILIATE MARKETING
Affiliate Site Selling For $7 Billion? 7 Key Takeaways
According to the New York Times, Credit Karma is about to avoid the IPO market, and sell to a financial firm for $7 Billion.
We’re talking about an affiliate site here. An affiliate site is one that earns commissions from promoting OTHER PEOPLES products (by linking to their website through a special link).
Credit Karma was founded by Ken Lin. It is a website that has grown to have a lot of content, and it makes commissions from credit repair sites, and loan sites, and so forth.
Now while it started out as an ordinary site, this is no longer an ordinary affiliate site.
They claim that one third of all Americans who have a credit profile, have used their site.
So that’s a lot of names and email addresses they have acquired over the last several years.
They have grown to be huge, and I don’t want to make this sound like it’s in any way typical.
But it is inspiring and there are many key takeaways that can be learned here.
7 Key Takeaways
#1 You don’t have to be a product owner, in order to build a big online business
Over a decade ago, I visited the headquarters of Clickbank for the first time.
And I asked them, about which vendors were making the most sales.
They shocked me by mentioning that 8 of the top 10 account owners on Clickbank were pure affiliates, and didn’t even own their own products.
They were people I’d never heard of, guys who were simply buying traffic, sending it to their own website, and earning affiliate commissions promoting other people’s products.
While I was already a strong affiliate at the time, and was also in that top 10, I was a strong vendor too. So I had assumed the top 10 would be full of vendors.
In the case of Credit Karma, they have taken affiliate marketing to the extreme.
#2 Leads are valuable
Affiliates can make a lot of money without ever collecting a single email address or lead.
However, if you go to sell your website in the future, the money you receive is not only determined by how much you are making on a daily basis…
…How many leads, and how much data that you have on those leads, plays a huge factor.
You can’t legally share that data, but if you sell your business, then it’s legal for the purchaser to acquire the data that way.
Credit Karma collected names, email addresses, postal addresses, phone numbers, credit scores and more, from MILLIONS of people. That data is now worth BILLIONS as part of this sale.
If you’re an affiliate at a smaller scale, the same principles DO still apply. Make sure to in some cases, collect names and email addresses. And have a newsletter followup sequence that builds a relationship and promotes relevant products to them.
That way, if you ever sell your site, it’s worth more money… AND you’ll make more from your site anyway, even if you never sell it.
#3 Drop Facebook Pixels on every page in your site
Looking at the Credit Karma website, I see they have 2 Facebook Pixels being dropped on every page.
That means they can now retarget to people, with ads on Facebook, Instagram and other web properties that Facebook owns or has agreements with.
You do so much to get people to visit your pages as it is, and if they aren’t on your email mailing list, then another great way to get them to come back is through retargeting ads.
Warm prospects who have visited you before are a lot more likely to interact with you and possibly make a purchase in the future, than those who are cold (don’t know who you are).
#4 Free Software often results in more shares, than other types of freebies
While it may have been more complex to build what they have today, the Credit Karma site actually started out as a very simple piece of software.
People loved using it and shared it with their friends. So that in turn helped it to grow organically, as well as through any deliberate attempts they made at driving traffic to their site.
I’ve done this in the past also, created free software, and found that the optins tend to keep growing organically from that software giveaway for years, as users share the software with others.
For it to work, it has to be genuinely useful, and be better than the other tools going around that people can obtain for free.
It’s not always easy to do this, but if you do have a great idea for software that you’d like to make freely available in your chosen niche, it can in many cases, prove to be more valuable than other forms of free gifts that get people to opt in.
#5 Optins aren’t everything
There are plenty of opportunities to get your credit reading, etc, from other sites outside of Credit Karma, without giving your name and email address to Credit Karma.
They have such useful pages and recommendations, that their site profits regardless of optins.
I personally have found that sometimes, as an affiliate, going to an opt in page is not the right way to go.
Sometimes it’s better to run ads, that go to a ‘bridge page’ or a ‘quiz’ or an article, that then leads directly to an offer that I’m promoting.
If that produces more profits, then go with that.
#6 There is a lot of money to be made in Affiliate Marketing
Now while Credit Karma is an extreme case (potentially about to sell for $7 Billion), I see new affiliates starting out every year, and making piles of sales online.
This does not happen to everyone, I’m not saying it’s push-button easy, I’m not saying it’s ‘typical’ but I regularly see newbies, coming in, and doing extremely well, within a matter of months.
There are a lot of high converting offers in many niches (health, wealth, relationships, alternative beliefs, finance, education, and more).
And it isn’t rocket science.
Here’s a simplified equation of what is in play as an affiliate:
(Leads x Conversion Rates x Avg$ Per Customer) – Ad Spend = Affiliate Profits
For example…
If it costs you $1000 to send 2000 clicks to an offer, and that offer converts at 2%, and you earn on average $40 per sale:
Leads = 2000 clicks
Conversion Rate = 2% (0.02)
Avg $ Per Customer = $40
Ad Spend = $1000
(2000 x 0.02 x 40) – $1000
= $1600 – $1000
= $600 (Profit For The Affiliate)
If you’re not in profit, then:
- Either the traffic that is purchased is not the right audience (and conversions will suffer)
- Or the offer is not a proven one (conversions aren’t good)
- Or you’re paying too much for the leads
- Or the average commission $ is just too low.
I know I’ve gone off on a tangent here, but I wanted to mention this because, there IS a lot of money in affiliate marketing, but sometimes people over-complicate things when it comes to figuring out what’s going right and what’s going wrong.
Sometimes words in your ad itself, or on your landing page, are all the difference between a conversion rate of 0.3% and one that is 2% or higher.
Sometimes it’s a matter of needing to try several audiences to find the winning ads.
And sometimes it’s a matter of capturing leads, and following up with those leads with an autoresponder series of emails, that takes a little time to get the sales, but can lead to more sales of other products long term.
#7 Dream big and take action
It takes just as much energy to dream big as it does to dream small.
You are not protecting yourself or anyone else, by dreaming small.
Small dreams = less motivation to carry on.
I don’t see people who aim for the sky, and reaching the top of a skyscraper, being too disappointed.
I also don’t see people aiming for the top of a skyscraper, reaching the sky either.
It’s really important to eliminate any invisible glass ceilings, and have a dream that truly excites you.
Make a plan and work towards it.
Ken Lin had a dream and he chased it. His vision became more clear as he went along, but he took action.
I see the biggest difference between those who succeed at Affiliate Marketing and those who don’t, is that those who succeed are the ones who dream big, and take a lot of action.
When they take action and mistakes are made, they embrace the lessons that are learned along the way as part of the journey.
They are willing to take a lot of swings at bat, and all the mistakes make them self-correct, learn lessons, and eventually hit the ball out of the park.
I hope you enjoyed this article, and that it helps inspire you to take action in your online marketing dreams.
In the coming weeks I’ll be sharing several more affiliate marketing tips and videos with my newsletter subscribers.
Source
AFFILIATE MARKETING
How to Capitalize On This Thriving Talent Pool to Drive Your Company’s Growth
Opinions expressed by Entrepreneur contributors are their own.
As business operations shift, executives and entrepreneurs are increasingly turning to an on-demand workforce that is simultaneously empowered by technology and drawn to purpose-driven projects.
Consider Upwork, whose 2020 Future of Workforce Pulse Report revealed that nearly 80% of hiring managers engaging freelancers feel confident about doing so. These hires provide coveted expertise — on a project-to-project basis — that entrepreneurs need to scale their operations without incurring long-term overhead costs.
This new market paradigm also promotes dynamism, with 79% of businesses agreeing that freelance talent enables greater innovativeness. Perhaps most telling, 84% of hiring managers utilizing it feel more assured about adapting to future disruption, compared to just 69% of those relying solely on full-time staff.
By capitalizing on freelance marketplaces, entrepreneurs can amplify employer branding, augment capabilities and future-proof organizations, even amid turbulence. As nearly 60% of hiring managers plan to increase engagement with freelancers over the next two years, the time is now for executives to realize their inherent potential.
Related: Navigating the Great Reshuffle: Why Your Employer Brand is Key in Recruiting Talent
The job market continues to shift
After a season of massive hiring, we’re back to seeing layoffs and downsizing. Companies are feeling the bloat—from unused office spaces with rising rent to oversized employee structures — and are shifting focus to hiring only the most essential positions. This leaves a critical talent gap needed for complex projects and specialized tasks. Highly skilled and specialized independents can fill this void.
A few key benefits to engaging them:
• Access to niche experts: Platforms like Toptal and Guru provide access to elite professionals from leading Fortune 500 companies and innovative startups. Whether the need is for a machine learning specialist, growth strategist or financial modeler, entrepreneurs can now curate on-demand teams that boast specialized skillsets, enabling them to focus investment on projects with the highest strategic value.
• Enhanced agility: Leading corporations increasingly “rent” skills by tapping freelance experts for initiatives involving new technologies or while entering unfamiliar markets. With niche contributors available to plug knowledge gaps, owners can explore ideas that once seemed unrealistic due to internal constraints—unlocking inventiveness and first-mover advantage.
• Stronger employment brand: Blending full-time employees with project-based freelancers signals a commitment to modernization and work-life balance. Offering both engaging work and flexibility will help draw exceptional candidates and help you compete with corporate giants for top-tier talent.
Related: Can Retirees Thrive in the Gig Economy? Navigating a Changed Workforce
Tips for capitalizing on gig talent
Having explored the forces reshaping work, executives may wonder how to effectively leverage freelance platforms. After all, how can you know you’re getting your money’s worth if a hire isn’t physically present full-time?
• Define projects clearly: Contract hires thrive when expectations and deadlines are established upfront. So, clearly, detail needs around deliverables, success metrics, required skills and projected time investments. Staying ahead when it comes to communication and expectations will help avoid headaches, including delays.
• Build loyalty with talent: The best independent professionals have options regarding the projects they accept. Study their profiles to discern passions and incentives. Offer interesting work, flexibility and strong communication to motivate interest and improve results.
• Manage collaboration: Provide steady context, feedback and guidance at each project stage, but also foster autonomy, even while directing efforts toward strategic goals. A dynamic balance of these qualities drives optimal outcomes.
• Continue expanding your talent pool: Add proven freelancers to an internal database for repeat engagements, and notify talent about new initiatives for which their expertise would provide an edge. Uncovering additional ways, freelancers can enhance the business deepens the relationship.
Related: Fill Your Talent Gap by Sourcing Candidates From the Veteran Community
Top platforms for connecting with talent
Now comes the hard part: finding contractors who bring fractional expertise sets. There are a growing number of platforms, of course, but I’ve found that the following stand out as leaders:
Fiverr: Ideal for execs seeking design, digital marketing, writing, video and admin support. Known for affordability and ease of posting jobs. It taps a global talent pool, too.
Upwork: A flexible platform that spans more than 150 skills. Used by everyone from small businesses to global enterprises. Strong at IT, development, design, finance and consulting.
Toptal: Focuses exclusively on the top 3% of talent. Best for expert software developers, designers, project managers and finance experts. All contributors are extensively vetted.
Contra: A growing independent platform that vets and connects both job candidates and hiring companies. Best of all, it doesn’t take a commission from projects.
Related: 3 Strategies to Optimize Your Hiring Process and Find the Best Employees
The numbers speak for themselves: businesses engaging freelance professionals report greater confidence and competitiveness, as well as the ability to withstand turbulence, yet legacy beliefs can still cause hesitancy among those keen to hire. Supported by such specialized collaborators, companies can explore new horizons unencumbered by a one-time narrow view of staffing models.
AFFILIATE MARKETING
Trump Media stock plummets again
Trump Media & Technology Group Corp (TMGT) shares plummeted after the entity filed to the U.S. Securities and Exchange Commission (SEC) to issue 21 million shares.
The parent company of social media platform Truth Social has approached the SEC with a Files S-1 Resale Registration Statement.
Trump shares nosedive after announcement
The shares in the company ended the day on the stock market a further 18% down on initial trading. The SEC filing states:
We are registering the resale by the Selling Securityholders named in this prospectus, or their permitted transferees, an aggregate of 146,108,680 shares of Common Stock, consisting of:
- 1,133,484 Placement Shares;
- Up to 14,316,050 Founder and Anchor Investors Shares;
- 744,020 Conversion Shares;
- 965,125 DWAC Compensation Shares;
- 690,000 TMTG Compensation Shares;
- 6,250,000 Alternative Financing Shares;
- 7,116,251 Private Warrant Shares;
- 143,750 Representative Shares; and
- 114,750,000 President Trump Shares.
This takes the overall fall down to nearly 60% of the launch price for the former President’s company stock. We reported earlier this month that the initial stock had fallen 20% in the first week of trading on the stock exchange.
Digital World Acquisition Corp merged with Trump Media in late February to a large fanfare. The highest mark for the much-talked-about stock came in at $66.22, so the dip to $26.61 is a catastrophic fall ahead of a potential further share issue.
The $52.77 plummet will be a costly one for the company, but as we reported last week, executives are still taking home sizeable compensation in this turbulent opening.
Leading figures at TMGT have been given promissory notes to the tune of $6.25 million.
This is broken down into $1.15 million for Chief Executive Officer Devin Nunes, $4.9 million for Chief Financial Officer Phillip Juhan, and $200,000 for Chief Operating Officer Andrew Northwall.
It will be an interesting read ahead to see if the SEC agrees on the share issue and one that will certainly impact the future of TMGT.
Image: Ideogram.
The post Trump Media stock plummets again appeared first on Due.
AFFILIATE MARKETING
Save an Extra 20% on the Ultimate Microsoft Bundle Featuring Windows 11 Pro, Office, and More
Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.
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