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Digg It - AFFILIATE MARKETING – Why and How to Start It?
I’ll start this article with a question: Are you be willing to share part of revenue from sales that you would not get otherwise? For most cases, the answer would be YES. There are many methods to market your business online: e.g. pay-per-click campaigns such as Google’s Adword, CPM (= cost per thousand impressions) of your banner on high-traffic sites, ads
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
in newsletters etc. etc. What is common for these marketing methods? You never PAY FOR RESULTS that campaign actually generated. Idea of affiliate marketing is to PAY ONLY FOR RESULTS. Don’t spend money on ineffective advertising; build your own advertising channels instead. Build partnerships – and partners will work for you. That’s why people refer to aff
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
iliate marketing as “cost-effective”, “performance-oriented” or “risk-free”.
What kind of business can I market with affiliate program?
Well, hard to find one that you can not. It doesn’t matter if you sell hardware, mortgages, site membership or a service. You can even pay for traffic: pay per click or pay per CPM
Structure of af
What kind of business can I market with affiliate program?
Well, hard to find one that you can not. It doesn’t matter if you sell hardware, mortgages, site membership or a service. You can even pay for traffic: pay per click or pay per CPM
Structure of af
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
filiate program
There are 2 basic kinds of rewards: flat fee (=fixed amount) or percentage commission.
Your commissions to affiliates can be based on:
Pay per sale - most common, you pay commission (flat or percentage) for sales referred by your affiliates
Pay per lead - suitable for e.g. membership sites or sites offering paid content: s
There are 2 basic kinds of rewards: flat fee (=fixed amount) or percentage commission.
Your commissions to affiliates can be based on:
Pay per sale - most common, you pay commission (flat or percentage) for sales referred by your affiliates
Pay per lead - suitable for e.g. membership sites or sites offering paid content: s
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
imilar to “per sale” model, but you pay for new member subscription.
Pay per CPM - you can pay even for thousand impressions of your banner
Pay per click – if you want to reward each click referred: if you are considering this kind of affiliate program, make a careful research about fraud protection features of solution you choose – otherwise it can cost
Pay per CPM - you can pay even for thousand impressions of your banner
Pay per click – if you want to reward each click referred: if you are considering this kind of affiliate program, make a careful research about fraud protection features of solution you choose – otherwise it can cost
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
you a lot of money..
A lot of programs are 2-tiered (2 levels of affiliates) – it means affiliates – parent affiliates can have subaffiliates – and parent affiliate get commission for their subaffiliate’s sales. Subaffiliates are those, who have been invited to your AP by parent affiliate. 2-tiered structure has its advantages: it motivates affiliates to
A lot of programs are 2-tiered (2 levels of affiliates) – it means affiliates – parent affiliates can have subaffiliates – and parent affiliate get commission for their subaffiliate’s sales. Subaffiliates are those, who have been invited to your AP by parent affiliate. 2-tiered structure has its advantages: it motivates affiliates to
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
recruit subaffiliates to your AP and maybe even train and communicate with them – which saves your time and generates your revenue.
How to start affiliate program?
There are 3 main possibilities:
Stand alone software
Hosted software
Affiliate network
Stand alone soluti
How to start affiliate program?
There are 3 main possibilities:
Stand alone software
Hosted software
Affiliate network
Stand alone soluti
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
on – requires software that is installed on your website (called also “affiliate tracking software/script”). Affiliate program is under your total control and responsibility.
Hosted solution – is similar to stand-alone solution, but the software is hosted on 3rd party server – usually offered as service (=monthly payments).
Affiliate network – software is
Hosted solution – is similar to stand-alone solution, but the software is hosted on 3rd party server – usually offered as service (=monthly payments).
Affiliate network – software is
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
again installed on 3rd party server, in addition to the affiliate tracking you gain immediate access to a network of potential affiliates.
Which solution should I choose?
As regards price:
Stand-alone: one time fee for the software
Hosted: monthly fee, sometimes even progressive charging according to the growth of your affiliate program
Which solution should I choose?
As regards price:
Stand-alone: one time fee for the software
Hosted: monthly fee, sometimes even progressive charging according to the growth of your affiliate program
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
Networks: will charge you a transaction fee on each affiliate sale or the will ask you to make minimum monthly payment or combination of those two. Also some fee to join might be included.
Technical skills:
Stand-alone: requires basic skills to install the software (usually installation wizard is available) and to integrate with other systems on your webs
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ite (such as shopping carts/payment gateways/website itself).
Hosted: almost no skills required
Networks: almost no skills required
Benefits of stand-alone solution.
Since Amazon started its affiliate program, affiliate marketing grew rapidly. Due to its cost effectiveness and undisputed advantages, this field became very competitive. An
Hosted: almost no skills required
Networks: almost no skills required
Benefits of stand-alone solution.
Since Amazon started its affiliate program, affiliate marketing grew rapidly. Due to its cost effectiveness and undisputed advantages, this field became very competitive. An
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
d competition is always good for customers: prices go down.
There is a lot of software sold on the internet today – and not always the highest price means the highest quality! Do not fall for success stories and don’t spend hundreds of dollars for products that are just well marketed: you are probably not “the lucky guy”.
Affiliate marketing is competitive
There is a lot of software sold on the internet today – and not always the highest price means the highest quality! Do not fall for success stories and don’t spend hundreds of dollars for products that are just well marketed: you are probably not “the lucky guy”.
Affiliate marketing is competitive
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
– if you are new to this field you will surely not find the best way to market your business at once. This is MAJOR benefit of stand alone solution: while hosted or network solution offer you few possibilities to change your program, with stand-alone solution you have total control over your program. You can find the best way to market your products. Try an
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
d choose the best for you. ALWAYS want software with a lot of features. You might use a few of them at the beginning, but after several months you will certainly use more and more – would you like to pay for them? Or even pay for switching to another solution with extensive features? NO!
We already mentioned the PRICE advantage of stand-alone solution: you
We already mentioned the PRICE advantage of stand-alone solution: you
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
pay one time fee – no need to discuss this any more – if you pay monthly, consequently you pay more than even for the most expensive stand-alone software on the net. It is worth to mention that solid software is sold for $150 or even less.
Another benefit is positive effect of affiliate links on your search engine ranking: because the software is installed
Another benefit is positive effect of affiliate links on your search engine ranking: because the software is installed
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
on YOUR domain, they can help you to improve ranking of YOUR website – not domain of hosted solution.
Also stand alone solutions can be usually better branded for your business and customized for your specific needs.
Cons of stand-alone solution
Everything has its pros and cons. I’ll explain possible cons of stand-alone solution and what
Also stand alone solutions can be usually better branded for your business and customized for your specific needs.
Cons of stand-alone solution
Everything has its pros and cons. I’ll explain possible cons of stand-alone solution and what
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
it takes to overcome them. If you feel that you’ll not be able to cope with what follows DO NOT choose stand-alone solution.
1. Technical skills – will help you during installation and integration of the software with your shopping cart / payment gateway / website. Usually, very little technical skill is required, which depends also on the level of support
1. Technical skills – will help you during installation and integration of the software with your shopping cart / payment gateway / website. Usually, very little technical skill is required, which depends also on the level of support
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
provided by vendor and how sophisticated the software is. Generally, if you’ll be able copy/paste some code snippets to certain places on your website or to a template page of your shopping cart, your skills are sufficient…
2. Affiliate recruitment – this is strong selling point of affiliate networks – your program gets immediate exposure to a network of a
2. Affiliate recruitment – this is strong selling point of affiliate networks – your program gets immediate exposure to a network of a
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
ffiliates, while for stand-alone software you’ll need to recruit affiliates yourself. The fact is that you must motivate affiliates of the network as well – if you don’t, they’ll stop promoting your products. Registering your affiliate program to numerous affiliate directories (for free) and setting up appropriate multi-tier structure helps you to recruit af
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
filiates to your program. But it takes time and efforts…
3. Security – with hosted solution you do not need to back-up your database, upgrades are applied by team of people in charge of maintenance. If your solution doesn’t have feature to back-up your database / history this can be serious problem if some hacker attack occurs or something just “goes wrong”
3. Security – with hosted solution you do not need to back-up your database, upgrades are applied by team of people in charge of maintenance. If your solution doesn’t have feature to back-up your database / history this can be serious problem if some hacker attack occurs or something just “goes wrong”
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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