Affiliate Marketing
Highly active in 9-6 jobs but not getting an excellent salary? Looking to generate some passive income?
Well, 99% of the people start affiliate marketing to generate some extra income. Not only this, but affiliate marketing also helps to earn income while you are sleeping.
Yes, rightly heard !!
But if you are still not aware of what affiliate marketing is, then you are missing a high potential earning opportunity. Now, let us help you understand the meaning of affiliate marketing, how you can earn from affiliate marketing, and how to start affiliate marketing.
What is affiliate marketing?
Affiliate marketing is the process of earning a commission by promoting and selling others products. Once you sell their products, you will earn a part of the income from that product. So, we can say that it is revenue sharing. Overall, even if you do not have your own products to sell, you can still sell products and earn money.
The best thing about affiliate marketing is that you can scale it as much as you want. Usually, a salesperson only sells products from one company, but working as an affiliate marketer, you can promote products from many different companies and earn commissions from all of them. This commission varies from $1 to $10,000, depending on what product you are promoting.
To understand it more deeply, look at the people engaged in affiliate marketing platform:
Merchants:
Merchant is also known as the seller, brand, retailer, or the vendor. Basically, they are the ones who will provide you the product to sell. It can be Amazon, Flipkart, hosting companies, etc.
The affiliate marketer:
Affiliate is the one who will sell the merchant’s product. It can be an individual or company that attracts potential customers to buy the products. They work as the middleman between the merchant and the end customers. They can use any social media platform to promote the products.
The Customer:
The customers or the consumers are the ones who will buy affiliate’s products and pay to the affiliates.
So, there are mainly 3 parties that revolve around the affiliate marketing process. In this process, you can become a merchant if you have your own products to sell in exchange for giving them a commission from the sales that they make.
Or, you can become an affiliate marketer to promote and market the products to consumers in order to make money. Further, you can even sell more than one product or connect with more than one merchants to earn more.
A complete glance of affiliate marketing:
- An affiliate marketer or partner promotes a brand’s products or services on their platforms.
- Now, when the consumer becomes aware, they visit the affiliate marketer website, and from there, the consumer is redirected to the brand’s website.
- Consumers purchase a product/service from the brand/merchant online.
- The merchant’s platform automatically pays out a commission to the affiliate marketer for driving that sale. The marketer can also see the sales report and commission payout.
- The more you will sell, the more you will earn in the same manner.
How to generate income from affiliate marketing?
Undoubtedly, making online income from affiliate marketing is a quick and inexpensive method without much hassle. But, how does an affiliate get paid after linking the seller to the consumer?
1. Pay per sale
The affiliate marketing structure mainly revolves around the “Pay per sale” method. In this method, the merchant pays a fixed percentage of the product’s sale price to the affiliate marketer after the purchases made by the consumer. So, you will get a fixed percentage commission only when your actual sales are made.
2. Pay per click
In Pay per click model, the affiliate marketers focus on redirecting consumers to the merchant’s website. So, the affiliate works on bringing traffic to his/her site and moving that traffic to the affiliate’s site to the merchant’s site. The affiliate is paid based on web traffic engagement. Here, the sales are tracked via affiliate links from one website to another.
3. Pay per lead
Another way to generate income from affiliate marketing is by compensating the affiliate based on leads’ conversion. The marketer focuses on bringing the consumer to the merchant’s website to complete any desirable action. It can be filling out a contact form, signing up for a trial of a product, subscribing to a newsletter, or downloading software or files.
How to start affiliate marketing?
Follow these 6 simple steps to start affiliate marketing:
1. Decide a platform to begin with i.e., Blogs, websites, YouTube, and social media platforms such as Instagram, Facebook.
2. Choose the product you want to promote and sell. It is suggested to choose the products of a particular niche and has high sales potential.
3. Find reliable affiliate programs to join. Make sure to check the commission rates, payment schedule, etc.
Top 5 affiliate marketing sites:
- Amazon Associates,
- Click bank,
- Share a Sale,
- CJ Affiliate,
- Hosting providers like Bluehost
Tip: Focus on selling digital products as an affiliate because they often offer much higher commissions than physical products.
4. Great catchy content to attract the customers for buying your affiliate products. If you want your affiliate site to succeed, focus on creating high-quality content where your affiliate links fit naturally.
5. Drive traffic on your platforms. Here you can choose free methods and paid ads also to bring traffic on your affiliate site. Additionally, you can also build an email list to offer something valuable.
6. Get click on affiliate links and convert clicks to sales.
Conclusion
Affiliate marketing is an ideal solution for those looking to generate a handsome amount of performance-based revenue options. Further, for this, you can earn from the comfort of your home without worrying about producing your own product or service.
Overall, all you have to do is recommend relevant products or services to your audience. All other processes like product creation, handling the sales process, customer service, refunds, etc, will be handled by the merchant/vendor only.
However, the key to success with affiliate marketing is to start working today and continue learning new tips and tricks to grow your affiliate business.
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