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This Is Why Teenagers Are the Affiliate-Marketing Experts

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This Is Why Teenagers Are the Affiliate-Marketing Experts

Opinions expressed by Entrepreneur contributors are their own.

was once an exclusive opportunity for celebrities and big-scale influencers. Today, it seems as if everyone has affiliate links. Sometimes affiliate marketing is done so skillfully that we don’t even realize we’re clicking an affiliate link. On average, the annual passive income of affiliate marketers is $51,217.

What is affiliate marketing?

Affiliate marketing is ultimately a form of passive income. It’s a process wherein a person earns commission by marketing products that belong to another company or person. The person must first become an affiliate of the company, and this is typically done by searching for products he or she enjoys, signing up for the company’s affiliate program, then advertising the product and encouraging people to use his or her link. When someone clicks the link and makes a purchase, the affiliate gets a cut of that sale.

What’s unique is that anyone can do affiliate marketing there’s no age requirement. While some companies may require their affiliates be over 18 or over 21, many do not. Likewise, while every state and country has regulations in place for minimum employee ages, these do not apply to affiliate marketing. Unlike a typical job where you legally become an employee, affiliate marketing is considered a hobby meaning the same requirements do not apply.

Related: 3 Tips to Get Started with Affiliate Marketing

What makes teens so successful

Some might argue that teens are better at affiliate marketing than their adult counterparts. They have a leg up over the competition, and here’s why.

Teens are at the forefront of technology

As we continue to progress, young people are always the first to learn and embrace new technology. For older millennials, it was computers and the internet. For teens today, it’s groundbreaking apps, video and new ways of communicating. Today’s teens have never known a world without the internet and computers. Since they grew up with it, they’re more adept at creating their websites and profiles on all the latest apps. These places just happen to be some of the best places to market your affiliate links.

Teens are in-tune with the latest trends

“Cool” will always be in style, no matter what is deemed cool nowadays. Teens are often the ones creating what is seen as cool in popular culture, so they know what is trending better than any adult. By incorporating the most recent trends in their affiliate marketing, they set the products they’re advertising apart from the rest. They are able to make their products seem more desirable. Teens and affiliate marketing naturally go hand-in-hand.

Related: During Covid, Affiliate Marketing Is Emerging as a Cost-effective Channel for Brands

Teens know how to communicate

Since teens know to use the latest apps and include the most recent trends, they also have a unique way of communicating. They can reach other people their age by speaking the same language. In a world where anyone can go viral on TikTok, teens are predisposed to present their ideas in a way that is well-accepted on these new social-media apps. By using this commonality, people are more likely to buy into what they’re selling.

Teens have more flexible time

One of the best things about affiliate marketing is that it’s incredibly flexible you can do it from anywhere, anytime. However, many adults are confined to a strict work schedule, with additional responsibilities in their free time. Teens do not yet have these societal expectations. They have more flexible time to build a than anyone else.

Teens have more time to build

There’s no way around it the sooner you get started with affiliate marketing, the sooner you’ll see big returns. Since so many teens are getting started with affiliate marketing early on, they will inevitably have stronger systems in place to out-earn latecomers. They’ll also have additional income from affiliate marketing to put into other ventures, further building their wealth for the future.

Related: Pick a Marketing Model That Lets You Pay for Results, Not Potential

Ready to make money online? People everywhere are already doing it building sales funnels and earning thousands on the side. The bottom 10% of affiliate marketers make $37,000 per year while the top 10% of them earn over $70,000. With affiliate marketing, there’s very little cost to get started, so what’s stopping you?


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How to Create Effective Recognition Programs for Startup Founders

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How to Create Effective Recognition Programs for Startup Founders

Opinions expressed by Entrepreneur contributors are their own.

In the bustling world of startups, the concept of “sweat equity” often buzzes in the background, unrecognized yet vital. Founders pour their time, expertise and relentless energy into building their ventures from the ground up. While financial investments are typically acknowledged and rewarded, the non-financial contributions — or sweat equity — of these entrepreneurs are just as crucial for success but often go unnoticed.

The recent surge in tech layoffs and its impact on the startup ecosystem is a testament to sweat equity. In 2024, the tech industry has experienced a significant wave of layoffs, with 60,000 job cuts across 254 companies, including major players like Tesla, Amazon and Google. This development highlights the precarious nature of tech and startup employment, underscoring the importance of acknowledging and valuing the non-financial investments that founders make in their startups.

Additionally, Microsoft’s recent initiatives, such as the Startups Founders Hub, demonstrate a growing recognition of the challenges founders face and the support they require. This program provides up to $150,000 in Azure credits to help founders develop their startups without heavy initial investments, emphasizing the value of supporting the non-financial contributions that drive innovation.

Related: How Startups Can Boost Team Morale and Drive Success Through Recognition

Understanding (and recognizing) sweat equity

Sweat equity is not just about the number of hours logged; it encompasses all the non-financial investments founders make in their startups. This includes the late nights, the strategic decisions made in the wee hours of the morning, the continuous learning and adapting, and the personal sacrifices. According to a study by the Kauffman Foundation, over 80% of startups are bootstrapped, which means founders are both chief executives and chief investors of their time and skills.

Recognizing the immense value of sweat equity is a strategic move. A survey conducted by Gallup and Workhuman found that companies with high employee recognition levels are 20 times more likely to be engaged as employees who receive poor recognition. When founders feel valued for their non-financial contributions, it boosts their morale and loyalty, directly influencing their enthusiasm and commitment to the venture. Recognizing these efforts fosters an environment where the intrinsic rewards of entrepreneurship are celebrated alongside the financial gains.

Creating a recognition program for founders should not be a one-size-fits-all approach. It should be as unique as the startup itself, reflecting its culture and growth stage. For instance, a tech company might recognize breakthrough innovations with annual corporate awards, while a social enterprise might highlight efforts toward social impact. Buffer, a social media management tool well-known for its transparency, extends this value into recognizing its founders by openly sharing the challenges and successes in their monthly blogs, which not only recognizes the founders’ efforts but also engages the community in their journey.

Related: From Launch to Succession: Tips for Building a Thriving Business

How to pump up your recognition efforts

By integrating a few detailed action steps and leveraging insights from successful companies, you can create a robust recognition program that acknowledges the hard work of founders while driving your startup toward greater success and cohesion. Consider the following:

1. Assess current recognition practices:

Before crafting a new recognition program, conduct a thorough assessment of existing practices within your startup. According to a Gallup study, only one in three workers in the U.S. strongly agree that they received recognition or praise for doing good work in the past seven days. This highlights a significant gap in recognition at many organizations. Start by surveying founders and key stakeholders to understand what is currently working and what isn’t. This initial feedback will serve as a baseline for developing a more impactful recognition strategy.

2. Develop personalized programs aligned with values:

Personalization is key in recognition programs. A study by Deloitte found that organizations with high-performing recognition practices are 12 times more likely to have strong business outcomes. Take inspiration from companies like Zappos, which tailors recognition strategies to match its corporate values and unique culture. For instance, Zappos offers “Co-Worker Bonus Programs” where employees can award each other monetary bonuses for going above and beyond. Aligning the program with your startup’s values ensures it resonates well with the founders and reinforces the behaviors that are critical to your startup’s success.

3. Foster peer recognition and celebrate achievements:

Peer recognition can significantly enhance workplace morale and productivity. A report from SHRM/Globoforce found that peer-to-peer recognition is 35.7% more likely to have a positive impact on financial results than manager-only recognition. Encourage a culture where founders and team members frequently acknowledge each other’s efforts. This can be facilitated through platforms like Bonusly, where employees can give each other micro-bonuses that add up to meaningful rewards. Celebrating achievements, big and small, ensures ongoing motivation and engagement.

4. Continuously evaluate and adapt recognition efforts:

Effective recognition programs require ongoing evaluation to stay relevant and impactful. Regularly gather feedback through surveys, focus groups and one-on-one interviews to understand the effectiveness of your recognition efforts. Companies like Salesforce exemplify this approach through their “V2MOM” (Vision, Values, Methods, Obstacles, and Measures) process, which involves continuous feedback and goal alignment across the company. This method ensures that all team members, including founders, are aligned and can contribute to the evolution of recognition efforts. By maintaining a dynamic feedback loop, you can make data-driven adjustments to the program, ensuring it evolves with your startup’s needs and continues to motivate and inspire your team.

Related: The Psychological Impact of Recognition on Employee Motivation and Engagement — 3 Key Insights for Leaders

By using such a dynamic and inclusive approach, startups can ensure their recognition programs remain effective and responsive to the needs of their founders and team members.

Developing a founders’ recognition program is about nurturing a culture that values each drop of sweat that goes into a startup. Such a culture accelerates growth and cements a foundation of loyalty and mutual respect that can endure the challenges typical of the startup world. As startups continue to evolve, the recognition of every contribution, financial or otherwise, will remain a cornerstone of sustainable success.

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These Website Mistakes Could Be Costing You Thousands. Here’s How to Maximize Your Return and Drive More Sales.

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These Website Mistakes Could Be Costing You Thousands. Here's How to Maximize Your Return and Drive More Sales.

Opinions expressed by Entrepreneur contributors are their own.

You’re losing thousands of dollars on your website and might not even know it. You have a site and a marketing team, and traffic is flowing in. But your site — and business — may fail because you’re losing customers and conversions.

How?

Leads fail to convert because of poor user interface, slow speeds and bad design practices. If your site isn’t optimized for SEO, it gets even worse: leads will never land on the site in the first place.

How much does a website cost?

Small websites cost $500 to $5,000. Your costs will vary depending on whether you use a template, hire a developer and the complexity of the site. Sites with hundreds of pages, expert optimization and design can cost $10,000 to $20,000. Your initial investment can’t be recuperated if your site isn’t optimized properly or set up to convert leads into sales.

Site visitors have higher expectations, and there is a growing list of requirements that sites must meet. You need a snappy site, and it must be accessible. However, you also need to capture the right data from your forms, continually optimize your site and fill in the leaks that are causing you to lose money.

Related: 3 Powerful SEO Techniques That Will Boost Your Website’s Search Engine Ranking

Is your website investment worth it?

Small business owners lose customers, even with a well-functioning website, because they don’t know how to utilize the data available to them. So, after all, is your website investment worth it, and if yes, how can you make sure you get an ROI?

Nobody tells you that web forms can cost you a lot of money

Forms are boring input fields to failing site owners and a goldmine to successful ones. What are leads doing when they enter data into the form? Are errors causing potential customers or clients to leave the site? According to WP Forms, more than 67% of site visitors will abandon your form forever if they encounter any complications; only 20% will follow up with the company in some way. Analyzing how users interact with forms is especially critical for small businesses, which may not have as many opportunities as larger corporations. They can identify common issues such as broken forms, confusing fields or errors. This insight allows small businesses to simplify and optimize the form-filling process, improving the overall user experience and significantly increasing the chances of conversion. Thankfully, you can use a form tracking system that will help to pinpoint problems with data entry and missed opportunities, ensuring that small businesses are not carelessly losing leads.

Testing your forms and sales funnel regularly can save you a lot of money if you fix issues that are found in the test phase.

Data is the king of website optimization

Analytic data is king of website optimization, but you need to know what to look for and how to make changes. For example, if you have a high bounce rate, your site may look like it was designed in 1999, or it takes 15 seconds to load.

Bounce rate means users are leaving the site on the page of entry, and you have multiple areas of potential improvement.

Review your site speed and follow PageSpeed Insights’ recommendations to optimize your site. Try to bring loading time down to two to three seconds at most. Complex navigation and poor-quality landing pages can also cost you sales. Work with a copywriter to optimize your sales funnel copy.

Data will help businesses to pinpoint exactly where users engage most frequently and where they face obstacles. With careful analysis of this data, companies can optimize every aspect of their website, from navigation to content.

Important aspects of a high-converting website

High-converting websites have a lot in common:

Content

Expertly written content, with the help of a copywriter, will allow you to hit on the pain points of leads and close more sales. Hooks and storytelling from an experienced copywriter can help you turn a low-performing sales funnel into one that exceeds sales forecasts.

Design

Poor design practices cause sites to fail. Yahoo! is a prime example. The site was once Google’s biggest competitor, but with the bland and outdated design, the bounce rate was high, and people flocked to Google.

Work with a design team to create a functional, feature-rich site that appeals to your target demographic.

Lead capture forms

High-converting sites use lead capture forms to collect basic information about visitors, such as their email or phone number.

In exchange for providing information, leads receive something valuable in return, such as a discount or free eBook.

Once a user provides their email address or phone number, you can start nurturing them and eventually convert them into a customer. It’s important to note again that receiving instant notifications about broken forms and issues is a solution to avoid losing potential customers.

Related: 9 SEO Tips to Help You Rank No. 1 on Google in 2024

Call-to-action: More than just a button

Call-to-actions (CTAs) tell visitors what to do next, such as signing up for a newsletter, making a purchase or scheduling a consultation. They play a crucial role in improving your site’s conversion rates.

Without them, visitors would leave your site without taking action, resulting in lost opportunities to convert leads.

To increase conversions, CTAs must be clear and concise and use action-oriented language, like “Buy now” or “Contact us.” Tell your visitors exactly what to do next so there’s no confusion and they feel confident taking the next step.

CTAs are highly effective at improving conversion rates, but visitor behavior can change over time. Testing and optimizing your site’s CTAs can help maximize your conversion rate and adapt and change as user behavior changes.

Make sure that you’re engaging in A/B testing to determine which CTA works best for your audience.

You must respond to leads right away

Research shows that 78% of customers purchase from the first responder. Surveys also show that the highest-ranking companies in lead response audit reports respond to leads in 30 minutes or less. The quicker you respond, the better. Conversion rates can be as much as eight times higher if you respond in the first five minutes.

Every minute that passes increases the chance that the lead will move on to a competitor.

How can you improve your lead response time? Start by automating your lead qualification process to identify and prioritize high-quality leads. Track the lead from start to finish and pinpoint the issues that leads are facing. Set response time goals, train your reps, and streamline your lead management processes to reach out to leads as quickly as possible.

Conclusion

You spend thousands of dollars on a website. To maximize your return, you must ensure that your site has all the right elements to increase conversion rates. Once you have these elements in place, you must respond to leads immediately to seal the deal.

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What Are the Highest Paying Jobs in Every U.S. State: Report

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What Are the Highest Paying Jobs in Every U.S. State: Report

Sometimes, it’s not just about finding a job that pays well, it’s all about location.

A new report from Career.io shows that compensation for the same job can vary from state to state, so where a job is located can really matter, especially if you’re trying to maximize your earnings.

The report matches pay to location by figuring out which jobs yield the highest average salary in each state compared to the national average.

The result is a map of the jobs with the highest earning potential specific to every U.S. state.

Credit: Career.io

The map shows the professions in each state with the highest differences between the average statewide salary and the national average pay.

Related: These Jobs Have the Highest Entry-Level Salaries

Every state has a minimum of one job that pays at least 25% more than the national average.

In midwestern states, such as Minnesota and Indiana, medical professionals make more than they would in other parts of the country.

Physicians take home 38.63% more pay in Indiana, and dermatologists make 56.98% more in Minnesota than either profession makes on average in the U.S.

Related: College Graduates Make the Most Money in These U.S. States

Three states have jobs in business and finance that pay more than 50% more than the national average.

Alaska pays personal financial advisors 66.69% more, Nebraska pays credit counselors 59.46% more, and New York pays credit analysts 50.98% more than the U.S. average overall for those occupations.

1716944163 691 What Are the Highest Paying Jobs in Every US StateCredit: Career.io

Here are the highest-paying jobs in some of the most populated U.S. states and how much more (%) each job pays than the national average.

1. California

Craft artists: 89.06%

2. Florida

Quarry rock splitters: 42.40%

3. New York

Crane and tower operators: 109.03%

4. Pennsylvania

Iron and rebar workers: 65.30%

5. Illinois

Hoist and winch operators: 71.79%

6. Ohio

Mathematical science occupations: 40.46%

7. Georgia

Cloak room attendants: 52.49%

8. North Carolina

Healthcare practitioners and all other technical workers: 34.49%

9. Michigan

Plant and system operators: 63.48%

10. New Jersey

Floor layers: 90.03%

Click here for the full list.

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