The Concept of Affiliate Marketing
Everybody wants to make multiple sources of income, people want to earn passive income but unfortunately, most of the people don’t have that much capital to invest in the stock market, real estate or mutual funds to get their returns but today I will share with you a way where you don’t need to invest your money means no financial risk all you need is a laptop, internet connection and a website where you can invest your time & energy in making quality content for your audience. Affiliate marketing a sales platform with multiple stakeholders. What is affiliate marketing and why is this so trending?
The term affiliate marketing refers to promoting others business or products and earn commission as a reward. It is the best option out there because you don’t need to handle any orders, hold inventory or even deal with the end customer. For marketers, this is great as you can focus solely on marketing and how to get offers in front of the right audience.
Affiliate marketing is a performance-based system that involves 4 components:
1st. The merchant is also known as the seller or the manufacturer of a product or service.
2nd. The affiliate is (or can be) an individual who promotes products and services and get a commission on each sale.
3rd. The consumer who can be all of us.
4th. The network also called a program or platform, acts as an intermediary between the merchant and the affiliate.
So, if you become an affiliate marketer, then 90% of the things depends on how are you performing if you are performing well, then things will be good, and if you perform not so good, the results will also be not so good.
This type of marketing is an automated revenue source. It is exceptionally aggressive. It is genuine while it might be so easy to profit online with affiliate marketing. To be effective, you have to realize moreover you have to be aware of what works and what doesn’t work while promoting your products.
How to become an affiliate marketer:
You must be thinking that how I can become an affiliate marketer that will help me to earn money and create multiple streams of income for myself. So, don’t worry I am here to guide you the steps of becoming a successful affiliate marketer.
i) Choose a niche: After setting up your website & putting some content on it. You need to choose a niche that is a combination of talent + market + passion. Being specialized in a particular thing can make money easily and you will grow faster. Now, If you are thinking that you will promote products from different industries and will make a lot of money then that is not the case because if you try to be everything to everyone then you will be a nobody to everyone. Try something as specific as you can.
ii) Research of affiliate programs to join: Before joining any affiliate program first, let’s understand what is an affiliate program. An affiliate program is used in performance-based marketing. It’s an agreement between two parties, the merchant and the affiliate, where the affiliate receives a commission for traffic or sale made on the merchant’s website through their marketing effort. So, Choosing an affiliate program totally depends on your niche and level of expertise. Here are some of the top affiliate websites in the world that you might consider joining;
These websites include different types of affiliate programs of so many brands from different types of industries that you will surely find something to promote & start with your affiliate marketing journey. And here you can access all your affiliate programs under one roof. So, you don’t need to apply separately to every brand you want to promote. Now, do your research according to your needs and move on to the next step.
iii) Create top-notch content: This is your next priority to create high-quality content and start giving genuine product recommendations to your audience. Never recommend or promote the product that you think will not improve people’s lives, just don’t sell it. This is critical to long-term success as an affiliate. It only takes one bad recommendation to lose someone forever. But by taking the time to do your research, try every product you’re thinking about promoting and think carefully about whether it’s a good fit for your audience, you can build a successful business by being a trusted source of useful recommendations.
Understand this one thing that there is the only way to sell anything to anyone. You need to build trust among the people so that you can make a profit from your work. Always be honest to your audience when it comes to recommending something.
iv) Drive traffic to your content: Now, this next part will tell you how good is your website and your quality content is performing. Driving traffic to your website will tell how much people are loving your content. The way you want to drive the traffic is all up to you. You can use paid advertisements or you can use organic way also.
- First, let’s discuss about organic ways to drive traffic to a website when it comes to organic ways, SEO is the best. In the beginning, you need to learn some basics about SEO to use it properly. SEO is a long term game and it is surely more effective than paid advertisements. A good SEO of a website will help that website to rank better on Google then people will tend to click your URL when they see your website more often than any other.
- Second, You must be using social media and this social media will help you to drive traffic to your website. What you need to do is you need to post the blog post link of your website on all of the social media platforms like Instagram, Facebook, Twitter or LinkedIn. For example, go to the different Facebook pages which fall in your niche become part of that Facebook page and share about your blog post and share it on your own Facebook page and on your profile and that’s how this will help you to drive traffic to your website. Do similar kind of things with other social media platforms also.
- Third, Is the paid ads that require your money to be invested into it. You can use Facebook ads or Google ads to drive traffic but the major difference between these two types of ads is- Facebook ads is interest-based platform means it will help you to find your right audience. And on other hand, Google ads is an intent-based platform means it will help the audience to find your website. Paid ads major benefit is that the minute you invest your money and starts running the ads then within an hour you will start getting traffic on your website. Now, the downside is when you don’t have the money to invest more then your ads will stop and you will not get traffic from there anymore.
Note:- Never share your affiliate link directly on any kind of social media platform because this is prohibited and they can block you or prevent you to use that platform again in the future. So, always share your website link and not your affiliate link to drive traffic and to rank better on google.
How you earn after completing all the steps:
You recommend a product or service to your followers on your website, blog or email list. Your followers purchase the product or service through your affiliate link. You get paid a commission for the sales made using your affiliate link. Here, are the models on the basis of which you get paid your Commission.
- CPC – Cost per click. The advertiser pays for every click. Not very likely because of fraud and lack of performance tracking.
- CPL – Cost per lead. The advertiser pays you for every lead that you generate. Also less likely because of possibilities of fraud and the advertiser doesn’t make revenue from leads.
- CPI – Cost for install. You get a commission whenever you get the advertiser’s app installed.
- CPA/CPS – Cost per action/sales. The advertiser pays you every time when a sale happens that generates revenue for the advertiser.
- Recurring Commissions – You sell the product once and whenever the customer renews the product, you get a commission. This is one of the best models but most people don’t take it seriously because there is no instant sale commission. This is long term.
I hope this has given you some context about affiliate commissions.
If you are reading this line then thank you so much for sticking around and not increasing the bounce rate of my website. At last, I just want to conclude that when learning how to become an affiliate marketer, It is important to know where to start. Finding merchant partners, high commission affiliate programs, or Affiliate marketing jobs that pay well and are consistent. This requires a great deal of up-front work before you ever get in touch with a merchant. Affiliate marketing is the only channel that reaches and influences consumers worldwide, at every part of their purchase journey both on and offline.
Don’t forget to comment below and do let me know what you will be doing to start your affiliate journey maybe I can help you in some way.