I had a crazy idea today. I'm putting more time into affiliate marketing recently to capitalize on the web traffic I've built up over the years. To date, my own products are making me a lot more money than I'm getting through affiliate links. But that's starting to shift, and the changing trend has got me thinking in new ways. Today's adventure: promote my competitors' products on my site!
Am I crazy? Crazy like a fox! (I hope! I'll let you know if the idea flops, but I don't think it will). Here's my reasoning:
1) First and foremost, since my competitor's product is a lot more expensive than mine (maybe I should charge more, but that's another story), I can make more from the affiliate commission for selling their product that I can by selling mine!
2) Some people who check out my product will be checking out the competition too, and some of them will buy the competitor's product whether I promote it or not. If I can get the commission for that sale, that's all gravy!
3) If someone chooses the competition's product instead of mine, I don't have to provide tech support.
4) It's possible that I may enhance my own credibility by not being afraid to link to the competition.
The only potential downside I see right now is that I won't be able to sell complementary products to people who buy from the competition. That may become a bigger factor down the road as I develop more complementary products, but for now, I'm willing to take that risk.
I've built up a lot of traffic to my product site. Why should I only be making money off of the people who buy from me? The internet makes some strange business strategies possible.
January 15th, 2006 at 2:46 pm
Not crazy at all! You DO increase your credibility. You WILL get people to visit your site looking for the competition, and end up buying yours. You WILL make a dollar out of people who decide not to buy yours. It's called win-win-win!
And as for your worry about not selling the complementary products with CaRP.. every one of those is a sales FEATURE for CaRP!