The Effect Of Paid Versus Free Marketing
As an experienced online marketer, you will quickly learn that you have to spend money to make money. Let’s look at one quick example of why paid marketing is almost always better than free marketing.
Let’s say you have an income product related to an evergreen niche … let’s say making money online by trading foreign currencies, or Forex. You’ve found this product on Clickbank, it’s converting great and has a respectable gravity so you want to promote it.
Remember, it costs you nothing to promote this product. And, in fact, the person who is actually selling it is going to give you all kinds of marketing collateral you can use to market the product, in most cases.
Okay, you have a Facebook account so you go to Facebook and take out a Facebook Ad. Using the collateral provided to you by the Clickbank seller you buy a Facebook ad targeting people with an interest in “Forex trading systems”.
Turning On The Tap With Paid Advertising
Facebook allows you to choose between Pay-Per-Click and Cost-Per-Thousand (or CPM) pay structures so you can tailor your ad campaign based on your budget and other preferences. So in this instance you choose a CPM campaign.
Now, the seller already has given you the copy to use in your Facebook ad so you go ahead and copy and paste it into the ad setup page and bid on a certain number of impressions, say 10,000 for example. Facebook is going to have your ad show up only on those pages of people who have either searched for information about Forex trading or who are members of Fan Pages related to Forex trading or have otherwise shown an interest in Forex trading in the past.
This makes them far more likely to be open to purchasing the affiliate products you are promoting, right? And that’s why, with paid marketing techniques, you can start to see results starting from almost the moment that you turn them on.
The Drip Of Free Marketing
Okay, so let’s go back to free marketing. There are lots of different types of free marketing, but one of the most effective is still email marketing. Now, you may have heard that email is an old-fashioned platform and that because of smart phones and texting, not that many people use email anymore and that younger kids today don’t even have an email address. That’s simply not the case and let me prove it to you.
When was the last time you checked your email? Was it today? Was it in the last hour? Probably.
Even with texting and mobile devices, email remains a very important way for people to communicate with each other online. Email can accommodate smart phone technology by giving a text notification every time you receive a new email. So for the people who say email is dead … it’s not, okay?
All right, so email marketing is one of the most effective ways of promoting your affiliate products for free. And the whole key to effective email marketing is having a big subscription list. A subscription list is simply the people whose email address you have. For your personal account, you probably have the email addresses of your family and friends, people you work with, classmates and other personal acquaintances and so forth.
For your business account, however, you are going to have the email addresses of your customers. In other words, your subscription list is the people you market your affiliate products to. So, how do you develop your subscription list? There’s a number of ways to do this and that’s going to be the focus of the next module, as a matter of fact.
For our purposes right now, I just want you to understand the importance of having a big subscription list and to know that making that customer base as large as possible is known as list building.
This is why you need both paid and free traffic methods as part of your affiliate marketing campaign. Paid methods are going to get people through your door right away, and they are going to be highly targeted people who are already interested in precisely the types of products that you are promoting.