Has Your Referral System Been an Asset or a Liability?

Endless referrals are possible for anyone with the advent of the Internet. Endless referrals mean for you that you have an exponentially growing business which is constantly making you more and more money while you do relatively little in order to get all that business.

There are essentially two methods of using the Internet to generate endless referrals: viral marketing and affiliate marketing. Viral marketing is exclusive to the Internet. Affiliate marketing has been in existance for ages, but is easier and more powerful using the Internet.

Affiliate marketing could be difficult to make work for you if you are offering a product that only appeals to a small market. If you are offering a product or service that has mass appeal, like showing people how to make money online, then affiliate marketing is the right choice for you.

With affiliate marketing, some of your customers will turn into individuals who send business to you. Once you have great affiliate marketers, they send you most of your new business while you sit back and reap the benefits of the knowledge and training you gave out. They will be paying you a small percentage of all of their new revenues; or, you could set it up so that you pay them a hefty commission out of every sale they get for you, while you keep the difference. So, for instance, every time they sell one of your products for you at $100, they get $40 and you keep $60.

The most important thing with affiliate marketing is that you make it possible for the affiliates to duplicate your own business model exactly, even if they are not the entrepreneurial kind by their nature. You want to have thousands of ?offices? open that will run like the original one. The way to get affiliates is to set up the opportunity and list it as a link at your website when you first start your business.

With viral marketing, you will use the benefits of social networking sites. This will work no matter if you sell to a niche or not, and may even work better with a niche. Viral marketing works on the assumption that the friends of people who become your customers will listen to their recommendations and come check you out with the hope of doing business with you. This is an effective assumption.

Viral market your operation by making use of sites such as Digg, Twitter, Facebook and LinkedIn?s Buzz Up, and the ever growing array of other social networking sites let you to make yourself known on a personal level rather than a sales and marketing way. People who understand your product offering and find it of interest will become a new customer. Then, they start telling their friends about you, and send them on their way to your website. After a while, new sales (and repeat business) become seamless?for you are getting endless referrals.

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