I generally think in terms of the sales funnel, with the hierarchy something like this depending on the business, starting from the top of the funnel:
Traffic
Leads
Prospects
Customers
Clients/Repeat Customers
In the case of retail affiliates the lines are more ambiguous, but the general principal holds.
Traffic is just that - eyeballs.
Leads are pre-qualified eyeballs or targeted traffic that perhaps take some minimal interaction, such as bookmarking your site, favoriting a tweet, following you or re-pinning a pin on Pinterest. They have interest and have minimally engaged, but have no skin in the game.
Prospects, on the other hand, have joined your list or public forum, filled out a contact form or requested a free download, or taken some other action to start at least a minimal relationship. I consider joining a Facebook page is somewhat in between a Lead and Prospect; however someone who joins your Facebook group is definitely a prospect. Retail affiliate marketing is a bit more transitory, but if the merchant has a nice long cookie length I'd consider someone a prospect if they clicked on your affiliate link, even if the intention isn't to create a relationship, simply because the next step is for them to become a customer (unfortunately, the merchant's but at least you get the sale
)
Back to LEADS - Over the past few years, I've found that a well thought out Pinterest or Twitter strategy can be an excellent source of leads. I've been using the same Twitter strategy since 2010 across a wide variety of niches and am still pleased with the results*. Less is more. Scheduling is key. I have found the Hootsuite auto-schedule feature to be very effective in posting at time that brings in followers, retweets and favorites. There also has to be at least some degree of interaction to make it work. Mass following and parrot posting don't work; it can be very low maintenance but not autopilot. But hey, if you're doing it in a niche you love, it's loads of fun!
Here is another Twitter strategy that is more time intensive but would work well for certain models : Twitter Case Study of a Commercial (non-big) Brand/
*now if I could just get the rest of my act in gear ...
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