What is affiliate marketing?
Affiliate marketing is the process of earning a commission by promoting other people’s (or company’s) products.
company, organization, or individual that markets another company’s products. In exchange for marketing their products, companies pay affiliates a commission for each sale they generate. Affiliate programs exist for many different industries, such as travel, clothing, technology, and online services.
Affiliate marketing is an advertising model where a company pays compensation to third-party publishers to generate traffic or leads to the company’s products and services.
How much affiliate marketer make?
There is a lot of misinformation out there about a typical affiliate marketer income. Most of the get rich quick scammers.
When it is done right and treated like a business. Affiliate Marketer can earn up to 6 figure per month.
Pros of Affiliate Marketing
As already mentioned, there are several aspects of affiliate marketing that make it a good home business option including:
- Low cost to get started. Most affiliate programs are free to join, so your costs are usually related to your referral/marketing methods.
- No need to create a product or service.
- Don’t have to stock or ship products.
- Work anytime and from anywhere as long as you have Internet access.
- Passive income potential, depending on how you market your affiliates programs.
- Can be added on to current home business to create an additional income stream. It’s ideal for bloggers, coaches, information entrepreneurs, and anyone who has a website.
Cons of Affiliate Marketing
There are challenges to making money from affiliate marketing, such as:
- It can take time to generate the amount of traffic needed to result in income.
- Affiliate hijacking can occur in which you’re not given credit for your referral. URL masking can help.
- A bad affiliate can ruin your credibility. It’s important that you choose quality businesses to work with to avoid this.
- No control over the business’s product, service, or how it does business.
- Some companies have been known not to pay, although there are ways to screen and choose quality affiliate programs.
- High competition. When you find a great program, you can bet that many others are promoting it as well.
- Customer belongs to the merchant. Your stats will let you know how many sales were made of what product, but in most cases, you’ll have no information about who made the purchase, which makes it difficult to market for re-sales.
How to start with affiliate marketing?
Affiliate marketing isn’t hard, but it does require knowledge, planning, and consistent effort to make any significant income. Here are some things you can do to ensure your venture into affiliate marketing is successful.
- Sell what you know.
To start, you should stick to selling products or services that you’re familiar with. Online marketers call this process “picking your niche.” – You should select a niche that represents your current interests or your occupation.
- Start a website relevant to your niche.
Before becoming an affiliate, many companies will want to know the URL of the website that you’ll use to sell their products. They do this because they want to ensure that the content on the website won’t hurt the company’s reputation.
- Research affiliate programs.
Find an affiliate program that offers products or services in your niche. Amazon, Commission Junction, Clickbank.
- Join an affiliate program.
You will be asked for the URL of your website in some cases. Just provide the URL of the website that you created above. Other details about the traffic you have. Some affiliate network will require a phone call or voice chat to get your account approved.
Marketing Products on Your Website
- Add affiliate links in your content.
One great way to get paid a commission without appearing to sell anything is to add affiliate links within your content. That way, when people click on the link, they’re taken to the company site and, if they buy, you’ll earn a commission.
- Include visual ads in your sidebar.
Your website, like most websites, probably has a sidebar. That’s a great place to include visual ads for products relevant to your niche.
- Continue producing content relevant to your niche.
You want to keep people coming back to your website, don’t you? If so, then you need to keep on producing original content that’s of value to your visitors. That’s called “content marketing” by digital marketers.You want to keep people coming back to your website, don’t you? If so, then you need to keep on producing original content that’s of value to your visitors. That’s called “content marketing” by digital marketers.
- Use analytics to measure your success.
You can think of analytics as information about what you’re selling, how you sold it, and to whom you sold it.  Fortunately, most affiliate marketing sites offer helpful analytics so you can get an idea about what’s working well for you.
Managing Your Business
- Prepare for taxes.
If you make money via affiliate marketing, you can be sure that you’re going to have to pay taxes on that income. At the beginning of each year, your partner companies should send you a 1099 tax form. If they don’t, you’re still required to report the income to the IRS.
- Expand your business.
Your business is likely to do one of two things: expand or contract. That’s why you should always be striving for growth, otherwise, your business will shrink and provide you with diminishing returns.
Look for new products that you think you can market online. Browse through various affiliate sites. Look for new businesses that have recently welcomed affiliates and, if they’re offering something you think you can market well, partner up with them.
Promote your business constantly online. Use social media, email, and other channels to promote your business so that people keep coming back and looking for great deals on the products and services that you’re marketing.
- Delegate routine tasks.
Once your business takes off, it’s time for you to focus on how to grow your business while delegating routine tasks to others. It will cost you some money in labor expense, but the investment is worth it if it allows you to come up with new ways to promote your affiliate marketing business and build it even further.
- Automate what you can.
There are plenty of digital marketing tools available. Again, some of them will require you to make an investment, but if it gives you more free time to build your business, then the return on investment should be positive. Focus on creating a long-term strategy for your business while your tools and employees handle routine, day-to-day tasks. That way, you can handle “big picture” responsibilities to ensure that your business continues to grow.
Overall, your chances for making money with an affiliate program are probably no better and no worse than any other type of Internet home based business. Your success depends on how well you execute your affiliate business plan. Overall, your chances for making money with an affiliate program are probably no better and no worse than any other type of Internet home based business. Your success depends on how well you execute your affiliate business plan.
- Choose your niche.
- Research different affiliate programs and products.
- Build a site.
- Produce excellent content.
- Build an audience.
- Promote your affiliate product(s).
- Repeat steps #4–7 on a continual basis!
As you can see, there is a tried-and-true strategy when it comes to affiliate marketing for beginners. Put in the work, and you’ll soon be reaping the rewards of your first sale.
Do you feel overwhelmed about making that first affiliate sale? What’s holding you back from getting started? Let us know in the comments below and we’ll be happy to help.