Listen to the article here:
The dream is to make money while you sleep right? Affiliate marketing can do that for you.
It is one of the businesses you can start with less than $100
For a greater percentage of people, the only way to do that is through affiliate marketing.
The idea governing it is that you promote other people’s products, mostly through an affiliate link, and earn a percentage as commission when the people you referred end up buying the product.
If you have a product and want to sell more in less time, you can offer promoters a percentage on each product they sell. If you don’t have products you can opt-in to promote someone else’s product and earn through the affiliate program. It is all about sharing revenue.
I have once talked about affiliate marketing in a post, but we are going a bit deeper today. We shall look at what is affiliate marketing and how to get started on different affiliate marketing platforms.
Before we go into the guide proper, let us see some definitions of affiliate marketing.
What is Affiliate Marketing?
Affiliate marketing is the process of promoting a company or its products on your website or mobile app for a commission when someone makes a purchase through your affiliate link.
The Almighty Wikipedia talks about four parties involved in the affiliate Marketing chain.
The four parties according to Wikipedia are: Merchant, Network, Publisher and the Customer.
Others talked about only three parties contrary to wilkipedia’s four.
The three parties are Advertiser, Publisher and Consumer.
Coming down to the actual marketing, there are two parties involved in the marketing – The product creator/merchant and the Marketer or affiliate marketer.
Parts of affiliate Marketing System
Let us look at all the four parties involved in the affiliate marketing chain.
The merchant: This party is also known as the creator, the brand, the seller, the vendor or even the retailer.
It can be a big company like amazon or as small as someone who create online courses and sells to other entrepreneurs.
From an entrepreneur to small businesses to affiliate marketing companies with multi-billion dollar companies any of them could be behind the affiliate marketing programs. You must not be fully involved. All you need is a product to sell.
The Affiliate Marketer: The affiliate party is also known as the publisher. The affiliate can be an individual or an entire company. An affiliate marketer can earn a few hundred dollar or even millions in commission monthly.
This is where the real marketing takes place. The affiliate marketer can promote one or more product and convince potential customers of the value and worth of the product and lure them into buying the product.
This can be done by writing a review blog post on the client product or having an affiliate link to share on your blog or social media sites.
The consumer: As you have already guessed, the consumer is the one who buys the product from the merchant through the affiliate marketer.
Without sale there will be no commissions to earn or revenue to share.
The affiliate markets the product to the consumer on any channel they feel like – Social media or websites.
It is up to the affiliate marketer to let the consumer know they are part of the affiliate marketing system.
Some affiliate marketers tend to be transparent and let their consumers know they are part of an affiliate system while others don’t. Whether they know or not does make any difference as far as sales are being made.
The consumer does not have to pay the affiliate marketer any dime as the cost of the commission is already included in the products price and the merchant pays the affiliate as sales are made through the affiliate’s link.
Network: Some people do not consider this party in the affiliate marketing system. In my case I strongly advocate that it be should be included into the equation.
The Network works as a middleman or the intermediary between the affiliate marketer and the producer or merchant.
You can promote a product online and arrange how you share the revenue by letting an affiliate network or company like ClickBank take charge of the payment and the delivery of the product.
Anyone can sign up for an affiliate program, share links on his/her social media pages or website and if anyone buys through the affiliate link he will get a commission.
There are enough affiliate marketing platforms you can sign up for. You start affiliate marketing with Amazon and many more. To know more about the platforms you can search for “Website for affiliate Marketing” on Google and you will have enough of them to choose from and kickstart your affiliate marketing career.
How to Start Affiliate Marketing
In this section of the guide I will show how to start affiliate marketing.
- Review products
- Collect emails
- Pay per click (PPC) advertising
Review Products online
Becoming an affiliate marketer is really easy. You will not have to go through the stress of what to create.
You must have used one or products. All you have to do is do talk about them to your website visitor or social media friends.
Any product you wish to start with works.
If you are only depending on your website visitors to buy through your affiliate then you might not be able to make enough sales.
Don’t worry there is a better way.
Email according to Neil Patel, is still the best marketing channels today and you should never miss it.
You can create a call to action on your site for people to sign up for your Newsletter.
You can offer and ebook or even a video in exchange for their email addresses.
Send them reviews on products at least once a week since they won’t always see your posts.
Webinars are great.
Imagine you want to buy a car.
What gives you the driving force to buy the car?
Maybe you read a review on that car or you attend a webinars and you’re educated on the product.
But attending a webinar will motivate you more to go for the car.
You can create a simple landing page using leadPages where people can sign up for your webinars.
Use the power of social media to promote your webinar in advance and then host your webinar on google hangout which free for you and your audience to use and stream live webinar.
Show your audience the product you are promoting and don’t hesitate to answer any question they may be asking on the product.
Pay per Click advertising
As your affiliate marketing business starts to pick up you should consider the Pay per Click advertising option.
You can sign up for such a program and promote a product and you get a commission for any product clicked on your website or social media page.
Commission are paid by most companies o the first day of everything month and through paypal or direct debits. It all depends on the company.
I hope you have gained enough from this guide.
Hoping to see you making it soon.