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Igor Kaifets, an Amazon best-selling author of List Building Lifestyle, joins the Affiliate Nerd Out Podcast to discuss his inspiring journey from poverty to financial success. He delves into affiliate marketing, revealing tactics for market selection, insights on joint ventures, and the importance of email farming. Igor shares his personal experiences and valuable advice on thriving in the industry while emphasizing trust in partnerships. This episode is a treasure trove of insights for those interested in affiliate marketing, joint ventures, and email marketing. Tune in to let Igor guide you on a path toward a transformative lifestyle.
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In a fascinating podcast episode, we had the privilege of speaking with Igor Kaifets, an Amazon best-selling author known for his insightful book List Building Lifestyle. His journey from destitution to financial stability offers an inspiring and enlightening perspective on the world of affiliate marketing.
Raised in poverty, Igor was driven by a relentless pursuit of financial freedom. His journey to success was significantly influenced by Robert Kiyosaki's book Rich Dad Poor Dad. Inspired by the unconventional approach towards wealth accumulation presented in the book, Igor decided to break away from the traditional 9-5 grind and venture into the realm of affiliate marketing.
Affiliate marketing appealed to Igor due to its low risk and high potential for profit. It provided a platform to start a business with minimal upfront costs, making it an attractive option for aspiring entrepreneurs with a risk-averse mindset. Igor shared his strategy for selecting markets and brands, revealing his preference for saturated markets ripe for success.
One of the key elements Igor emphasized was the significance of joint ventures. The power of these partnerships cannot be underestimated as they can create lasting relationships and lucrative business opportunities. He stressed the importance of trust in creating successful partnerships and highlighted various ways joint ventures can be facilitated, from masterminds to seminars.
What is a joint venture in affiliate marketing?
Igor Kheifets explains that the concept of joint ventures (JVs) is when two parties come together and bring value of equal size to each other. In affiliate marketing, this typically involves two vendors promoting each other's products to their respective audiences, with both parties benefiting from sales and commissions. Joint ventures can take different forms, depending on the type of product and market. In the information marketing space, webinars are commonly used for higher-ticket products. For supplements, it might involve sharing long-form sales pages.
Networks for JVs.
In terms of networks for JVs, JVs often happen in mastermind-style environments and aren't typically facilitated through affiliate networks like Impact or CJ. These environments create opportunities for joint ventures by bringing people in the same industry together, allowing them to exchange ideas and potentially collaborate on marketing promotions.
Igor also mentions the importance of building relationships and trust over time for successful joint ventures.
“It's a relationship because a joint venture alone is great value, but what if a joint venture actually leads you to go and do more handshakes that end up turning into more joint ventures?“
They may not happen immediately but can develop over a period, and the key is maintaining long-term relationships in the industry.
A significant part of the discussion revolved around the concept of 'email farming.' As a long-term strategy for success, building an email database is essential. It allows businesses to maintain contact with their customers, providing opportunities for continuous marketing and relationship building.
What is email farming?
Igor Kheifets explains the concept of email farming, also known as E-farming. Email farming involves building email databases, which he refers to as “email farms.” The analogy used is that each email in the database is like a seed that continues to yield dividends over time. It's compared to having a garden full of apple trees, where the trees continually produce apples that can be harvested season after season. With email farming, each email subscriber or customer on the list can result in multiple purchases over time, making it a valuable foundation for building and growing a business. The goal is to work once and get paid multiple times, which aligns with the idea of email farming.
List building lifestyle: confessions of an email millionaire.
Igor's book, “List Building Lifestyle: Confessions of an Email Millionaire,” is a comprehensive guide to building a successful email list and leveraging it for affiliate marketing. Over the years, Igor has been frequently asked about his list building strategies and affiliate marketing techniques. To provide a comprehensive answer to these questions, he decided to write a book.
To dive deeper into Igor's strategies for list building and affiliate marketing, don't miss out on his book available at igorsbook.com. Grab your copy now!
The importance of choosing the right partnerships.
During the discussion, Igor emphasized the significance of selecting the right partnerships in affiliate marketing. He shares a personal experience where he had a negative encounter with a JV (joint venture) manager. This individual misrepresented himself and brokered a deal that did not meet Igor's criteria, despite clear instructions. When Igor confronted him about it, the JV manager took their private conversation and made it public, damaging Igor's reputation.
To protect his network and reputation, Igor sent an email to his entire audience, warning them about this individual and recommending against working with him. The response he received was overwhelmingly positive, with many expressing gratitude for the heads-up. This incident highlights the importance of being cautious when choosing your affiliate marketing partners. The people you associate with can have a significant impact on your reputation and success.
Key takeaways: who you don't work with matters.
- The importance of partner selection: Who you choose not to work with is just as important as who you choose to work with. Careful evaluation of potential partners is crucial. Partner selection can greatly impact your business's success and reputation. Choosing the wrong partners can lead to long-lasting negative consequences, making it essential to be discerning in your collaborations.
- Trust your instincts: Trusting your gut feeling when assessing potential partners is vital. If something feels off, it's worth investigating further or reconsidering the partnership. Intuition often serves as an early warning system to avoid problematic partnerships. Trusting your instincts can help you make sound decisions that protect your brand and long-term success.
- The risks of financial gain over reputation: Prioritizing potential financial gains over the reputation and stability of a partner can be detrimental in the long run. Overemphasizing short-term financial benefits while ignoring the character and reliability of partners can lead to severe consequences, impacting both your business and industry standing.
- Consider the behavior and professionalism of potential partners: Look for patterns of reliability and professionalism in a potential partner's behavior before entering into joint ventures. Partnering with individuals who consistently display professionalism and reliability is a safer and more sustainable choice. Behavior patterns can provide valuable insights into a partner's suitability.
The rest of the episode.
As an industry veteran, Igor was candid about the challenges he faced along his journey. He shared his experiences with self-deprecation and how he overcame these hurdles to thrive in his chosen field. His story is a testament to the resilience and determination required to succeed in affiliate marketing.
Ethics and reputation also featured prominently in Igor's conversation. He shared an instance of ‘ethical bribery,' a strategy used to protect his reputation in the industry. His candidness about the potential pitfalls of partnering with the wrong people serves as a valuable warning for anyone looking to venture into affiliate marketing.
Igor Kaifets' journey offers a goldmine of insights for anyone interested in affiliate marketing, joint ventures, or email marketing. His story serves as an inspiration for those seeking a lifestyle change and financial freedom. With his advice and insights, aspiring affiliate marketers can navigate the often complex world of online marketing and pave their path towards success.
Wrap it up, Dustin.
Igor is a master network marketer with a love for bringing good folks together. Email farming is a tried and tested practice that adds an incredible lead generation to any business. Go try out Igor's course and start growing.
|Dustin introduces himself and the podcast “Affiliate Nerd Out” and welcomes his guest, Igor Kheifets, an Amazon best-selling author of “List Building Lifestyle,” to the podcast.
|Igor discusses his current business ventures, which include affiliate marketing and teaching affiliate marketing, email farming, list building, and the development of an AI version of himself.
|Igor explains the importance of affiliate marketing in his career, highlighting its low risk and potential for high returns.
|Igor emphasizes the value of entering competitive markets for affiliate marketing to ensure a larger and more active target audience.
|Igor defines joint ventures (JVs) in affiliate marketing and explains how two parties come together to promote each other's products, resulting in mutual benefits.
|Discussion about common practices for joint ventures, including webinars and long-form sales pages
|Igor mentions that joint ventures often occur within mastermind-style environments, driven by networking rather than specific networks.
|The importance of networking within affiliate marketing and related circles, which can lead to joint venture opportunities.
|Igor discusses creating a virtual environment for joint ventures, avoiding expensive masterminds, and fostering long-term relationships in affiliate marketing.
|Igor shares his focus on email marketing, the advantages of email lists, and how it serves as an asset for long-term income.
|Igor introduces the concept of “email farming” and its role in building profitable email lists and continuous revenue streams.
|Igor emphasizes the importance of working once but getting paid repeatedly, highlighting email marketing as a sustainable source of income.
|Igor promotes his book, “List Building Lifestyle Confessions of an Email Millionaire,” explaining its purpose and benefits for affiliate marketers.
|Dustin and Igor discuss the importance of carefully choosing your partnerships, as it's essential to work with trustworthy and reliable individuals.
|Igor shares a story about the value of protecting your reputation by not associating with unstable or unprofessional partners.
|Dustin and Igor wrap up the discussion, and Igor provides information on how to connect with him, mainly through his book and podcast.
|Dustin recommends the book “Deep Work” by Cal Newport, which influenced Igor to reduce his social media usage and focus on productivity.
AFFILIATE MARKETING CONSULTANT
Dustin Howes is a partnership nerd spreading the good word about performance marketing. He is the chief coach at performancemarketingmanager.com and is dedicated to helping companies grow their performance marketing channels. He also provides affiliate manager training and private consultations, helping companies find the right solution for their budget.
Find out more about Dustin here.