Power of a Hybrid Affiliate
It’s another What’s Up Wednesday! Today, I’m introducing a new term that combines traditional marketing methods. It has gone mainly unnamed until today… a hybrid affiliate marketer.
What is a hybrid affiliate marketer and how does it differ from affiliate marketing?
As you are aware, affiliate marketing involves someone who promotes and sells others peoples online products or services for a commission (percentage of the sale). And there are a number of ways to do that.
However once you get the hang of making consistent sales as an affiliate marketer over time, another aspect of online marketing (a desire or itch as it were) develops that takes an affiliate marketer into a new direction.
What is it, you ask? The desire (or realization) of creating and promoting your own product or service in some form. When this happens and you take action to do this, you transition from being an affiliate into becoming a product (or service) vendor or creator.
Also when this occurs, you become focused mainly on promoting your own product and are no longer concerned about promoting other peoples products as an affiliate, or is that really true?
Not all marketers who transition from an affiliate to a product vendor remains strictly as a vendor. They realize that it takes a lot of effort to grab and keep interest going for a product or service (especially products).
Over time, their product ages, becomes (or is perceived as) obsolete. And unless they can continue to crank out hit product after product, they’ll eventually find themselves struggling to make money again.
So what is the answer to prevent this from happening (once they realize what is going on)?
They start promoting other peoples products as an affiliate marketer once again. Nothing wrong with it, in fact it is still a smart path to take. However, they still have the itch, the desire to continue working on producing their own stuff.
If you have been paying attention to the top Internet marketers online today, you will see that the most successful ones, the ones making lots of money consistently, are (as I call them) hybrid affiliates.
Advantages
A hybrid affiliate is one who does both things; creates his/her own products to promote along with promoting the products of others as an affiliate marketer. And there are real advantages to this (if done right).
- You make the most money with your own product when it is first launched. You can keep your focus entirely on your product until it begins to decline in sales and then switch back over.
- Once you do reach the saturation point for your product (and haven’t got another one ready to be released), you can continue to make money promoting related products or services of others as an affiliate.
- Or if you are really clever, you can promote related products or services as an affiliate that compliment your product or service at the same time. Not only does this give your product more value and a boost, but it also allows you to make additional money as an affiliate from a percentage of the sales you make with those products/services that gave your product a boost! Talk about a win-win!
Disadvantages
But of course, there are down sides to being a hybrid affiliate as well.
- By promoting more than one thing at once can lead to a split focus which can produce split results. That is not making the level of potential sales on any of it because your focus is split on two (or more) things, and you end up becoming non effective with all of it.
- The affiliate products you pick to promote are not at the same quality level of your product. This will result in either lowering the perceived value of your product (hurting sales), or in the perceived value of their product (making it look like your product sucks), depending on who has the better product or service.
- It takes a lot more work to initially setup and keep going. That includes customer support, dealing with refunds, distribution methods, even if you should run an affiliate program of your own.
Most affiliate networks and vendors think affiliates are completely dependent on them. They’re dead wrong. Those who are Smart Affiliates know the game and adapt, becoming hybrid affiliates who sell their own products as well as promote products of others.
Not only does hybrid affiliates make more money, but other affiliate programs will likely make more money as well.
Smart affiliates become hybrid affiliates
Smart affiliates understand in order to have a long-term business, you need customers that are loyal to you. When they buy from you and you treat them right, they will most likely buy from you again.
The best way for an Smart affiliate to thrive is to have their own product or service to complement the affiliate programs they promote. Besides, if you don’t sell people something, you can’t build a loyal customer base.
Sadly, most affiliates who only focus on selling other vendor products have trouble making money. Unless they have developed a huge mailing list or have a large loyal daily following of visitors to their offers.
Have you ever heard of a hybrid affiliate before? Does it even make sense? Perhaps I missed other advantages or disadvantages that you are aware of and would like to share below! 🙂
