Set up an Affiliate Program for Your Business

During the past three weeks, I’ve revealed three methods you can use for growing your company via the Internet (sampling, endorsed reciprocal promotions, and licensing). If you haven’t implemented any of these strategies, take a moment today to pick one that best fits your business model and implement it right away. In addition, you’ll want to consider having an affiliate program. Although Internet sales taxes have made it slightly less attractive than it used to be, running an affiliate program is a method of growing your business with minimal investment in the right affiliate management software and a good written affiliate program agreement prepared by an experienced Internet lawyer. Are affiliate programs different from licensing? Yes. Affiliate programs should not be confused with licensing. When you license your products, the licensee makes the sale elsewhere (often on the licensee’s website) and then remits a cut of the sale proceeds to […]

Licensing Agreements for Your Products and Business Systems

During the past two weeks, I’ve shared with you two effective ways to grow your business on the Internet (sampling and endorsed reciprocal promotions). A third strategy to consider is licensing. Why? Selling licenses for your products and business systems to other businesses can be a profitable method for growing your company without additional labor costs. Your licensees may pay an initial licensing fee in addition to ongoing royalties on sales made. If you’re licensing a business system you own, it’s important to comply with applicable business opportunity rules and regulations. Your Internet business attorney can answer any questions you have about these limitations. In addition, you’ll want to avoid setting up the licensing arrangement in such a way as it could be construed by the government as a franchise. Why licenses instead of franchises? Franchising is a heavily regulated method of doing business because of a long history of […]

Get Customers With Endorsed Reciprocal Promotions

Last week, I shared with you the strategy of sampling, one of 7 powerful methods for growing your business on the Internet. As an Internet lawyer, I see many of my clients use samples successfully to acquire new customers and have used sampling myself in businesses that I own. Today, let’s talk about a second strategy for growing your company. Strategy # 2 – Endorsed Reciprocal Promotions. How do they work? Find complementary businesses online and set up a cross-promotion to each other’s customers. Why are they effective? The endorsement by a seller of a complementary product or service offered by you carries far more weight with the vendor’s customers than you trying to reach out cold to the same prospects. The same holds true when you endorse that business’ offering to your customers. This only works where both offers deliver value. Don’t set up a reciprocal cross-promotion with a […]