There are now many internet millionaires since the rise of affiliate marketing. Internet millionaires have become so because they can reach a global audience simply through their laptops. See laptop millionaire. Instead of the limited business model which has a shop in a local area, the internet has opened up the possibility of selling globally to anyone with a laptop and internet connection. For both affiliates themselves and for those who create products online and sell through their affiliates, there is a lot of money to be made.
Internet Millionaires – Jay Kubassek and Stuart Ross
Here’s a picture of me with internet millionaire Jay Kubassek. Jay struggled for years online before he achieved success through affiliate marketing. He then went on to co found The SFM (Six Figure Mentors) with Stuart Ross. You can hear Stuart’s online story here.
Here’s a picture of founders of The Six Figure Mentors Stuart and Jay. You can hear more about Jay Kubassek’s story here. Also see my article on affiliate marketing millionaire stories and super affiliate secrets.
Strategies Of Internet Millionaires
Many internet millionaires simply sell their own products through the internet. They do this by marketing to their target audience through various online forms of advertising including:
- Affiliate marketing – Paying people a commission to advertise their products on the internet
- Pay per click advertising – Adwords, Â Facebook and Bing all offer pay per click advertising. This is powerful because you can tailor your adverts to specific audiences and only pay when you adverts are clicked. See also entrepreneur tips and strategies.
- Banner adverts – Placing banners on websites around the internet linking back to their products
- Newspaper advertising and other offline advertising methods – TV, radio, magazines etc.
Their products can be accessed online by anyone globally and therefore they have an international audience to sell to. Products can range in style but many internet millionaires have created membership products which are subscription services. The best products to sell as an affiliate are high ticket products with monthly memberships attached.
Internet Millionaires – Affiliate Marketing
Affiliate marketing allows anyone to start a business on the internet with no prior knowledge. That doesn’t mean they all become millionaires. Most of them don’t. In fact many affiliates give up before finding any real success. However, for those who do stick at it, there are large rewards. The affiliate model allows you to be rewarded for sales you make from other people’s websites.
This means if you can create an advert or piece of content which does well, you can potentially make money from it for a very long time. By creating multiple streams of income in this way, you can effectively leverage your sales. Getting paid for work you have done previously is one of the main benefits of doing affiliate marketing.
Affiliate Marketing Internet Millionaires
Top affiliates earn money by creating adverts promoting other people’s products or their own. They test and measure adverts which send customers to affiliate products. Although this costs money to do initially, once they have a successful campaign which costs $5 and makes $10 for example, they scale up.
Scaling Up Winning Adverts
Let’s say you have created an advert which costs $5 a day to run. Every day you make $10 – a $5 profit. With affiliate marketing you can simply increase your budget and your sales will increase as a result. Top affiliates spend tens of thousands on advertising every day. They don’t start like this though. They test and measure will smaller amounts. Once they find a winning formula, they scale up.
Cross Testing Adverts
Adverts are cross tested with similar adverts with small minor changes done to them. Each advert is tested and measured. The best performing advert is then used in the ongoing campaign. A basic advert will have a title, an image and some text. It will be targeted at some specific keywords and visitors will be sent to a landing page.
All the elements of this process can be tested and measured. Small changes are tested against the previous adverts a step at a time. As each advert is allowed to run, the best performing advert proves which title, copy and images score best. This lets the affiliate know which advert they should choose for the best conversion rate.
Start Your Own Online Business
Learn how to start your own online business by accessing a free video series below:
- Access tools, strategies and products
- Get the education needed to promote digital products online
- Learn from a community of like minded entrepreneurs
- Get an up and running website to sell from
- Access pre-built sales funnel with products included.