Diversify Today
The old saying: “Don’t put all your eggs in one basket” may be a cliché but has withstood the test of time for good reason. Risk management techniques of diversification are an important strategy for savvy business people to implement in any industry. When it comes to internet marketing, spreading risk over many programs, campaigns, and investments is a necessity for every entrepreneur in the coop.
People like Options:
My marketing background and persistent curiosity has me constantly polling friends, family members, and anyone whom I come into contact with about a variety of interests. My “research” has proven that, from small to large decisions, people like options! From an affiliate program standpoint, it is advantageous to have multiple recommendations for any given product or service. Options allow business affiliates the opportunity to compare creatives, landingpages, payouts, and any other aspect of a program. Diversifying affiliate programs is a great way to not only spread risk but more notably, increase the opportunity for success.
The Next Big Thing:
When one affiliate program becomes the current success, the idea is to promote this campaign in as many distribution channels as possible for as long as it is advantageous. It is critical for all participants to keep in mind that this sizzling campaign has an expiration date. From the affiliate manager’s point of view, diversifying the reach of other offers is crucial at this time. The trigger for this transition is not always easily determined. Ideally, the push for the next big thing should take place at the height of the current program’s profitability. The key to this push is two-fold. Spreading the reach of new offers allows affiliate managers to find that next hot market trend way ahead of the curve. Plus it provides a smooth transition from the current buzz offer to the next slamming campaign.
Valuation:
Diversification is not only important from an affiliate program or manager aspect, but more importantly from the affiliate’s perspective. Having a multifarious promotion strategy allows an affiliate to create value for a specific campaign by highlighting its value in comparison to other similar type offers. Whether the user selects the highlighted offer or the comparison campaigns, they both equate to dollar signs in the form of conversions for the affiliate.
Whether you are creating, distributing, or promoting affiliate programs, diversification is a technique that all parties will benefit from. A multiple stimulus strategy is the best way to ensure lucrative results. By spreading your eggs to several baskets, you can reach the various consumer communities growing at an exponential pace every day.
