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An Affiliate-Marketing Program Might Be the Perfect Move

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An Affiliate-Marketing Program Might Be the Perfect Move

Opinions expressed by Entrepreneur contributors are their own.

A common belief is that founders need hefty sums to gain marketing results, but that is frequently not the case. Affiliate marketing — in which commissions are earned by others for promoting a company or driving a sale — is an affordable investment with a low-entry barrier, and one that’s open to brands of all kinds. It’s only true requirement is patience. It will not make you rich overnight: Instead, you must be ready to grow a product step-by-step, willing to search for opportunities the market has to offer and generate returns incrementally if you want to join this domain.

How to take advantage of affiliate marketing

The essentials of an effective affiliate-marketing partner program include finding those with the right traffic, developing an attractive offer for them and then providing them with the necessary tools — all of which require thorough research. Luckily, there is plenty of content on the web that explains each step in detail. 

There are also straightforward and accessible tools that can help, such as Google Analytics, which enables you to create a system for tracking clicks and gauging partner sales. Another option is joining a trustworthy affiliate-marketing network (such as CJ, AWIN or Fiverr) that’s relevant for your business goals. For example, if you plan to enter the publishing business, you might opt for affiliate-marketing platforms such as the Amazon Associates Affiliate Program or Rakuten Advertising Affiliate Network. Or, if your business is looking to enter the travel industry, my company, Travelpayouts, is a solid option.

Such affiliate networks are often quite robust, and the best are both time-tested and popular among marketers, principally because they offer significant traffic volume and are easily accessible. Many of them do not charge onboarding fees, welcoming newcomers and helping them understand the field better. Others like CJ (Commission Junction LLC) have stricter policies, charging in their case a $5,000 connection fee and taking a deposit from the outset.

Related: 3 Tips to Get Started with Affiliate Marketing

For the right sales tracking, you will also need to set up a website or mobile app. This usually takes several weeks. In good tracking systems, integration algorithms are highly advanced, which makes it easy to integrate small businesses. Such tracking and integration usually require minimal or modest investment from you.

How to help partners generate traffic and sales

But it is not just about integrating your platform. For affiliate marketing to truly succeed, you need to develop tools for partners to help them generate traffic and sales — a significant challenge in every respect. You can try and do it on your own, or you can take advantage of what the network has to offer: for example, a complete “toolbox” to form and generate links and create widgets. 

We are no fans of platitudes, but it’s important to recognize that affiliate marketing is not just about increasing income. If you want to make the most out of it, you need to think outside the monetary box. For this brand of marketing, the key to success is teamwork and consistent attention; it is simply impossible to create a program and leave it to its own devices, hoping that one day it will turn into a cash cow.

Instead, you need to grow it one step at a time, reaching out to your partners and interacting with them recurrently. Think of it as a big family you are taking on vacation. Booking tickets and hotels is not enough: You also need to ensure that everyone has their things with them, feels well, takes the right plane, etc. So, to make sure that your partners back you up and want to cooperate productively, be ready to share your expertise and stats (seasonal sales, for example) and to launch various promos, which are the ultimate gear for generating traffic. This way, you’ll create bonds, hit targets faster and enjoy the adventure.

Related: This Is Why Teenagers Are the Affiliate-Marketing Experts


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AFFILIATE MARKETING

Save on Business Travel for Life This Memorial Day with an $80 Deal

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Save on Business Travel for Life This Memorial Day with an $80 Deal

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.

Growing businesses around the world rely on traveling salespeople and representatives to fuel expansion. For those in the accounting department who are trying to make enough room for airline ticket budgeting, you can do them a lot of favors by hooking up yourself or a team member with this special deal.

Through 11:59 p.m. PT on May 31, you can get a lifetime subscription to this OneAir Elite Plan for only $79.97 (reg. $790). This deal gets you indefinite access to OneAir’s deals on business, first, premium, and economy class flights to and from destinations of your choosing and interest. These deals include mistake fares and advantageously priced ones that happen to pop up.

OneAir’s platform uses artificial intelligence (AI) to scan the web around the clock for deals so that they are ready for your team when someone needs to hit the road. In addition to getting to choose up to 10 departure airports with deals, Elite users can also take advantage of OneAir’s one-on-one business and first-class planning support.

Conveniently, the OneAir Mobile App lets you access these deals, book trips, and complete bookings all in one place. It is available for both iOS and Android devices.

One recent user, Ashok, who saved $1,080 on flights using OneAir, wrote, “I am so pleased with my decision to sign up with OneAir! Just booked a super cheap flight deal to Vancouver along with 5 nights of hotel stays.”

Remember that only through 11:59 p.m. PT on May 31, you can get a lifetime subscription to this OneAir Elite Plan for only $79.97 (reg. $790).

StackSocial prices subject to change.

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Did OpenAI steal Scarlett Johansson’s voice? 5 Critical Lessons for Entrepreneurs in The AI Era

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Did OpenAI steal Scarlett Johansson's voice? 5 Critical Lessons for Entrepreneurs in The AI Era

Opinions expressed by Entrepreneur contributors are their own.

Did OpenAI steal Scarlett Johansson’s voice? OpenAI has since paused the “Sky” voice feature, but Johansson argues that this is no coincidence. In response, Johansson delivers a masterclass for entrepreneurs on navigating the AI era successfully.

In today’s discussion, we delve into what this controversy means for business owners, highlighting five critical AI strategies they must deploy. We also explore essential methods to protect your intellectual property and leverage AI for a competitive edge—insights vital for keeping your venture ahead in the AI revolution to remain your competitive advantage.

Take the AI skills quiz here (available for a limited time) and equip yourself with practical knowledge by grabbing a copy of my new book, ‘The Wolf is at the Door – How to Survive and Thrive in an AI-Driven World.’

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Why Are New Business Applications at All-Time High?

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Why Are New Business Applications at All-Time High?

More people are starting businesses now than ever before — and the reason could be that the opportunity cost, or what they have to give up in exchange for entrepreneurship, is lower than ever.

Data that the U.S. Census Bureau released earlier this month shows that the total number of applications to start businesses hit a record 5.5 million last year.

That’s half a million more applications than what was filed in 2022.

Related: Here’s What Millions of Small Businesses Have in Common, According to a New Survey

Census Bureau data from the first four months of this year show that the startup boom is still going strong, too — from January through April, the number of new business applications totaled over 1.7 million.

Why are more people filing to start new businesses?

Columbia Business School professor Angela Lee told Entrepreneur that the reason could be the “unprecedented number of layoffs from big tech companies in the last several years, resulting in a large pool of talent freed up to pursue entrepreneurship.”

Columbia Business School professor Angela Lee (left) and Co-Founder of Plum Alley Investments Andrea Turner Moffitt (right). Photo by Monica Schipper/Getty Images)

Lee, the director of the Eugene Lang Entrepreneurship Center, also noted that “entrepreneurship has historically been counter-cyclical because the opportunity cost to start a company goes down during a recession.”

Related: Want to Start a Billion-Dollar Business? Look to These Two Industries, Which Have the Most Unicorn Growth

Big tech companies have been laying off employees in record numbers in recent years.

Tech layoffs last year affected 263,180 employees globally according to tracker Layoffs.fyi.

Amazon laid off the most people (27,410) last year, but Meta (21,000), Google (12,115) and Microsoft (11,158) also contributed to record numbers.

The unemployment rate has remained stable, in the 3.7% to 3.9% range in the U.S. over the past nine months, according to the latest U.S. Bureau of Labor Statistics jobs report.

Related: ‘The Employment Situation’ Report for April Shows Employers Are Taking Hiring Down a Notch, Employee Wage Growth Slowing

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