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The Extended Marketing Mix

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Are you a webmaster who needs funds to keep your website running? Or is your website the only way for you to earn income? Whichever you are, for as long as you are a webmaster or a web publisher and you need cash, affiliate marketing may work well for you. With affiliate marketing, you may get a lot of cash pouring into your bank account easily. And if your website is rich in great contents and you want to earn more profit, why not get into the Google Adsense program as well?



Why Affiliate Marketing?

Well, simply because affiliate marketing is the easiest and probably the best way to earn profits online, unless otherwise you are a businessman and would rather sell your own products online than advertise other businessman's products on your site. But even online retailers can benefit from affiliate marketing programs, because affiliate marketing actually works for merchants as well as it works for the affiliates.

Affiliate marketing, simply said, is a relationship or agreement made between two websites, with one site being the merchant's website and the other being the affiliate's site. In the relationship, the affiliate agrees to let the merchant advertise his products on the affiliate's site. The merchant, on the other hand, would agree to pay the affiliate in whatever method they have agreed into. This would generally mean easy income for the affiliate, as he would do nothing but place the retailer's ad on his site. This would also be very beneficial for the merchant, as getting affiliates to advertise their products would be a lot more affordable than hiring an advertising firm to promote their products.

There are a variety of methods on how the merchant would compensate the affiliate for his services, and for the webmaster, these methods simply translates to the method by which he would earn easy cash. Among the more common methods of compensation are the pay-per-click method, the pay-per-lead method, and the pay-per-sale method. The pay-per-click method is the method most preferred by affiliates, for their site's visitor would only have to visit the advertiser's site for them to gain money. The other two methods, on the other hand, are better preferred by merchants, as they would only have to compensate you if your visitor becomes one of their registrants or if the visitor would actually buy their products.

Getting much profit on affiliate marketing programs, however, does not depend so much on the compensation method is it does on the traffic generated by your site. A website that can attract more visitors would generally have the greater chance of profiting in affiliate marketing programs.

What about Google Adsense?

Google Adsense is actually some sort of an affiliate marketing program. In Google Adsense, Google act as the intermediary between the affiliates and the merchants. The merchant, or the advertiser, would simply sign up with Google and provide the latter with text ads pertaining to their products. These ads, which is actually a link to the advertiser's website, would then appear on Google searches as well as on the websites owned by the affiliates, or by those webmasters who have signed up with the Google Adsense program.

While one can find a lot of similarities between Google Adsense and other affiliate marketing programs, you can also see a lot of differences. In Google Adsense, all the webmaster has to do is place a code on his website and Google takes care of the rest. The ads that Google would place on your site would generally be relevant to the content of your site. This would be advantageous both for you and for the advertiser, as the visitors of your site would more or less be actually interested with the products being advertised.

The Google Adsense program compensates the affiliate in a pay-per-click basis. The advertisers would pay Google a certain amount each time their ad on your site is clicked and Google would then forward this amount to you through checks, although only after Google have deducted their share of the amount. Google Adsense checks are usually delivered monthly. Also, the Google Adsense program provides webmasters with a tracking tool that allows you to monitor the earnings you actually get from a certain ad.

So, where do all of these lead us to?

Where else but to profits, profits and even more profits! Affiliate marketing programs and the Google Adsense program simply work, whether you are the merchant or the affiliate. For the merchant's side, a lot of money can be saved if advertising effort is concentrated on affiliate marketing rather than on dealing with advertising firms. For the webmaster, you can easily gain a lot of profits just by doing what you do best, and that is by creating websites. And if you combine all your profits from both the Google Adsense program and other affiliate marketing programs, it would surely convert to a large amount of cash.
The Extended Marketing Mix
Advertising agencies, marketing teams, and consultants may be in need of more sophisticated research, but these can be an expensive endeavor with third party survey stations and the like. However, studying customer behavior for yourself may not be as costly. If you do want to get more insight on your customer behavior, it may be best to do it and test your ideas yourself.

1)Hypothesize

•This part is largely guess work, something you would do if you had to make an advertising material from where you’re standing from. You can read marketing materials that give you guidelines on how to create your ads, but they can never substitute for the insights and experience you will gain from this experience.

•Start with the basic assumptions you have about your target market and conceptualize the print ad or marketing approach you will use.

2)Experimenting

•Have your sample pieces printed out in the minimum order. You can send out postcards, brochures, or newsletters via direct-mail marketing. You can also test with posters, flyers, brochures, etc. Test individually to isolate each variable.

•Start and create group discussions. Ask questions and observe just how your clients would react to such changes or innovations.

3)Evaluate Data

•Check your sales record. Note any increase in sales and interview customers, if and when possible, as they walk in your shop. You can also include a coupon with your direct-mail-marketing to track down their effectiveness. Include a deadline for your coupons. This forms your quantitative data to check the response rate you can get.

•Posters are harder to track, so you may want to ask your customers from where they heard about your shop and what convinced them to buy from you. Get their suggestions about your marketing efforts.

4)Refine

•With the data now available to you, you can edit your advertising materials. Use your insight to create a new hypothesis with your new found assumptions. Change colors, sizes, as you find necessary. Change your marketing approach and message.

5)Repeat process

•You may have to repeat the process several times to find the marketing materials that will boost your sales. Find the most effective print material from each category, direct mail marketing, outdoor ads, and hand-outs. Use the most effective from each category and combine them. Test this marketing mix and repeat the process. Compare the results from every testing.

Although advertisements have different strengths and weaknesses affecting their effectiveness, finding the right combination will increase their marketing power. Finding the right marketing mix is important if you want to increase your response rate.

Before proceeding with a full scale or nationwide campaign, test the waters before you dip your feet into them. With custom printing, you can get important insight into the inner workings of your customer’s minds. Use the marketing mix wisely and optimize your ads. It’s worth the effort in the long-term when your sales pick up.

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Both Albert Alexander & Carlas San G. are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

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