Monetization Of Your Site: Part 2 Why Coca-Cola Is Important To Your Site
This is a continuation of part 1 which can me seen here
Why Is Coca-cola important to your site monetisation strategy?
I bet that has you intrigued!.
It is really a simple business principle that can be best described as having small degrees of separation in regards to which products they sell. In the case of Affiliate marketing it is what products an affiliate recommends on their site.
Take coca-coal for example they sell Coca cola, Cherry Coca-cola, Diet Coca Cola (AKA Coca cola light), Coca cola original, coca cola zero, coca cola stevia and even variants across the globe that adapt to local tastes like Vanilla Coca Cola Vanilla (Malaysia) and Coca Cola Coffee (Viet Nam).
Basically costs them next to nothing to make a variant of their core product, see just how similar all their products are. I call that the coca cola principle!.
The Coca Cola Principle And Your Monetization Strategy
How does this apply to you are your lovely little blog?
Promote similar products are closely related to each other but differ slightly. A fine example, assuming you have a bootcamp site about Niche Site Marketing, you can promote
- Wealthy Affiliate
- Income School
- Niche Site Project
- Legendary Marketer
Just to name a few. Do be clear what is your top choice and why, at the same time don't be shy about recommending products that are closely similar as your audience may prefer something else..just some people prefer cherry coke or vanilla cola than the original Coca-Cola.
I had a referral, a very close friend, that spent a year+ as a member of Wealthy Affiliate only to later join a program that cost over US$5,000 which came with no tools!, no hosting, no keyword research tool, nothing at all!
Only because he perceived it to be much better quality due to costing a lot more!.
(Maybe some day I'll write here about Psychological pricing and why Nike Air Jordans Are Important to online business owners and our monetisation strategies).
Keep your eyes open for Part 3 The Three M's all affiliate marketers should be aware of!.