Are you an internet marketer looking for ways to earn extra bucks? Or do you just want to join a program that will allow you earn passive income which will supplement your real income? The answer is affiliate marketing.
You must have heard about affiliate marketing by now, and countless success stories involving this online venture.
Affiliate marketing has become one of the most popular ways to earn money online, with most internet marketers focusing on generating a regular income through this program.
In our post today, we will be telling you what exactly is affiliate marketing, why you might need to consider trying it out and how to join the program.
What Is Affiliate Marketing?
Affiliate marketing is a form of digital marketing, which involves promoting other people’s products or businesses in exchange for a commission.
Affiliate marketing has gained rapid popularity over the years in the marketing world.
Simply because as a marketer, you will not need to handle orders, deal with customers or hold inventory.
All you have to do is focus on how to get the products before the right audience.
How Is It Done?
To understand how affiliate marketing is done, you first have to know about the four key elements involved in this performance-based marketing system; merchant, affiliate, consumer and network.
The merchant is the seller of the product or service in question, and the affiliate is an individual who promotes these products to earn a commission on each successful sale.
The consumer is anyone who purchases a good or a service to satisfy a need and the network is a platform, which acts as an intermediary between the seller and the affiliate marketer.
In a nutshell, a company wanting to scale up its revenue by attracting more customers will start a partnership program for independent vendors.
And pay commission after set sales targets are achieved. However, for most programs, the commission is only earned after an actual sale is made. This is how affiliate marketing is done!
As an affiliate marketer, you will be required to fully collaborate with the merchant to be able to promote his products.
In addition to this, you will have to come up with marketing campaigns that use links, ads or banners to attract the right buyers for the seller.
If you are a blogger or a website owner, this is one of the ways you can earn a passive income, by promoting various products on your site.
Common Practices in Affiliate Marketing
Just like in any other income earning venture, there are a few tips and tricks to being successful in affiliate marketing.
To begin with, it’s best to perform proper market research before investing your time advertising a certain product. Always opt for those products and services that consumers are willing to purchase.
You should also develop a website or blog where you add fresh content on a regular basis. Having high-quality content on your site will boost your SEO ranking, and give you free traffic. Chances are, most visitors will click on the affiliate links and end up buying the product.
There are also tons of affiliate networks out there, such as ClickBank and Amazon that you may consider joining, especially if you are a newbie. Some programs pay affiliate marketers per click, while others will pay per sale or per lead.
It’s best if you try understanding all these terms before joining a network so that you can only join the ones that work for you.
How Can I Be An Affiliate?
The first step you take in order to become an affiliate marketer is searching the web for affiliate networks. Popular affiliate networks include Affiliate Program Directory and Avangate Affiliates Program, among others.
Join the networks that appeal most to you. To make your decision, you can look at different aspects of the program, including the rate of the commissions offered. Some of the popular websites that offer affiliate programs include LinkShare, Amazon, Commission Junction and Affiliate Window.
Once you have found a suitable network, you will be required to fill out an online application form in order to become a member. This will basically revolve around your personal information, payment method and your site’s information. For the most network, affiliate membership is free.
If your application is approved, you are allowed to choose the affiliate programs you want to join. Once the program owners approve, your network will finally guide you through the final step, which entails how to post affiliate links on your site.
Keep in mind that you many not making money right away after joining the network. Moreover, most programs pool the commissions and only pay you once they have reached a set minimum amount, say $10.
Your earnings may start out small, but as you get more clicks on your site, which are converted into sales, your commissions will start increasing. Within no time, you will be earning a regular income.
As we conclude our post, we hope that you now understand what affiliate marketing is and how it works.
Affiliate marketing is one of the most profitable and effective marketing techniques today, and it highly benefits all the stakeholders involved. The seller gets increased revenue, the marketer earns a commission and the consumers are able to purchase the right products for their needs.
Are you interested in joining the affiliate marketing program? Are you already in the program and would like to share a few tips? Feel free to leave your thoughts and inquiries in the comment box below.