Best known as the author of Rich Dad Poor Dad—the #1 personal finance book of all time—Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. Based on Rich Dad's cashflow Quadrant, we explore new way to conduct business on Internet.
It used to be that the power to become a business that was built on systems—businesses that are representative of the B quadrant in the Cashflow Quadrant—rested with a few. The barrier to entry was high. It was expensive and risky. Of course, the payoff for success was big, which was why many people tried. Unfortunately, many failed.
Generally speaking, there are three kinds of income...and they are not created equal.
Earned income is the income that employees and self-employed people make. This often means exchanging your time for money. It is the highest-taxed income with very little provisions for tax breaks.
Portfolio income is income made through capital gains. You hear people who earn portfolio income say things like, “Buy low and sell high.” Good advice if you can make it happen. It also is taxed high and requires active management. It can also be risky because you often have little control over whether something goes up or down in value.
Passive income is the income business owners and investors make. It is the best form of income. Why? Because it is the lowest-taxed income, puts money in your pocket even when you’re not actively working, and has many tax advantages. If you want to be rich, you need to master the art of passive income.
The internet and computers give us the power to be entrepreneurs. The computer runs your business’ systems. It gives you the ability to communicate and market online through email and social media. It gives you the tools for accounting and access to legal advice. The computer lets you search the whole world for manufacturers. And if you want to learn something, you can easily Google it or watch a video on YouTube. The cost of education is near zero...and the possibilities are endless.
For instance, it used to be that communicating for a business was very expensive. You had to invest in hardware like phone systems, fax machines, and copiers to do internal communications. To reach your customers, you had to do advertising that was very expensive.
Today, for practically nothing, you can email around the world, text on your phone, Zoom internationally, and use social media to advertise. And all of these things can be set up in an instant. In fact, in a post-COVID 19 world, these things are even expected from your clients.
Affiliate marketing is a great way to benefit your customer, yourself and people whom love your product/ services. Company can Reward everyone by sharing. Change your focus; from making money to serving more people. Serving MORE people makes the money come in.
Our Refer & Earn Module for E-commerce store can help company to accomplish this goal. Through our Refer and Earn add-on. you just need to share your auto-generated Unique Referral Code (Referral code will be generated automatically once you sign-up with us) with your connections. Once your referred connections join us using your referral code. You will be rewarded by us. You can even track your referrals and the reward earned in the real time via our personalised dashboard. Company can setup their own Reward policies and track the stats. You may configure the reward point usage and value with history transaction of every customer.
Why are referral programs powerful marketing tools for ecommerce stores?
They’re easy to set up. With the help of a referral marketing tool, you can set up your program, embed the right widgets to your site, and then let your customers spread the word.
They run automatically. Once the program is active, there’s no work left for you to do (other than fill all the new orders!).
They make your customer acquisition cost predictable. It’s hard to tell how much it costs to acquire a customer through your soft marketing tactics like social media, blogging, or partnerships with other brands. But you know exactly how much it costs to acquire a customer through a referral program because you set the reward.
They improve customer loyalty. When your customers refer your friends, both the referrer and the referred customer feel invested in the brand. Both parties become more likely to purchase products from your store, rather than a competitor.
Leverage Your Customers
Affiliate marketing campaigns are an effective way to grow an ecommerce store. By leveraging your customers’ friends and fans, you can multiply one sale into countless more. You only pay for what you convert. Our Earn and Reward module is the best way to get more customers by supercharging your word-of-mouth. You can choose between multiple referral programs, customize your campaigns and rewards, and monitor your analytics.