Affiliate marketing is the first idea that come into people’s mind when they are looking for ways to make money on internet but most of them do not understand the definition of affiliate marketing and ‘what is affiliate marketing’.
I received a lot of emails from people who want to know how they can generate extra income online by completing
small online tasks but it is very rarely that they would say they want to spend all their time to create a steady income.
Affiliate marketing is the second best method to generate a big income but it is of course much more complicated compared to PTC sites and online surveys.
You must understand how affiliate marketing work before you can start selling affiliate products and aiming to reach $1000 in affiliate sales.
What is Affiliate Marketing?
Affiliate marketing involved promoting and getting people to buy different products/services that belonged to other companies. Everytime someone buy or sign up through your affiliate link, you will earn a commission.
For example, you can join the Amazon affiliate program and promote their products by using the referral link generated in your Amazon affiliate account.
Amazon is paying about 4% – 15% of commission when you successfully get people to buy through your Amazon affiliate link.
There are many merchants who are paying a good commission for leads as well. If you promote these merchants, you will receive a commission when you get people to fill in a lead or sign up with them.
Here are the 4 simple steps you must follow in order to generate an income from affiliate marketing.
- Do research on the top affiliate programs.
- Sign up for the affiliate program and you will be given a unique affiliate link.
- Use the affiliate link to promote the products from the merchant.
- Get paid with commission
There are lots of giant affiliate networks such as Amazon, eBay, Clickbank, Commission Junction, Flipkart, vCommission and etc that offer their own affiliate programs. I have compiled a list of the 20+ best affiliate programs for beginners.
You can begin making money from affiliate programs by signing up directly from the merchant sites or signing up via the affiliate network which allows you to promote products from different merchants on your websites.
What is an Affiliate Marketing Network?
There are many merchants who have good products but they are not offering affiliate programs due to factors such as
- They are not able to afford to payout commission.
- They could not find a effective analytic for tracking the sales achieved by the affiliates.
- There is no one to monitor the tracking system and they are still looking for ways to outsource it.
The above are some of the reasons why affiliate network exist.
Affiliate networks are equipped with tracking tools to monitor every single activity that occurs on the affiliate link, they will pay the commissions you earn into your account.
Therefore, it is best to sign up with an affiliate network rather than signing up with an individual merchant as you can take advantage of the large variety of advertisers and product types.
You will be responsible for doing research on the ROIs of various merchants and put more attention on merchants with higher ROI.
How to promote an affiliate program when do you get paid?
You must first be familiar with how promotion and marketing works. There are lots of different ways you can use to promote an affiliate product and most people do so via a website/blog.
You must write detailed reviews on the products you have decided to promote and post them onto your blog. The affiliate link can be integrated into the call to action in your blog post to encourage people to buy via the link.
People will visit your website to read the reviews and if they are interested in buying, they will click the affiliate link which will redirect them to the merchant site. Everytime a reader buy from the affiliate link, you will get paid with a commission.
You can’t just set up a website and write a product review and expect sales to come in. The key is to drive targeted visitors with high conversion rate to your website.
There are various ways to promote a website in order to get targeted traffic, for example advertising with Google Adwords, making guests posts on authority sites, promoting a site on the social media network and posting your ad on various classified sites.
Advantages of Affiliate Marketing
Affiliate marketing has rise to become one of the most profitable business on the internet because of the benefits it offers for those who promote the products. One benefit is that it doesn’t require you to have your own products to make money.
You can promote the products as if you are the owner who launched these products.
Since you are not the owner of the store, you don’t have to maintain an inventory and the shop owner will be responsible for the shipping when someone buy via the affiliate link. There is also no need for you to keep track of your customers.
The merchant will handle the entire process. Another benefit is that you can earn a good income out of this. There is a potential to earn up to 70% commission when you make a sale and some merchants even offer a commission that is as high as 90%.
You heard it right. There are online merchants in all categories including web hosting, and membership subscriptions that are paying a high commission rate if you manage to get a prospective customer sign up with them. Now this is a golden opportunity that you don’t want to miss.
If you succeed in your affiliate marketing campaign, you will regularly get to make affiliate sales so the money just keep coming in and you don’t have anything to worry about. You will have lots of free time and can go vacation on the Goa beach with your loved ones.
Don’t hesitate anymore and create an action plate by following the steps below.
Create an Action Plan
Join an affiliate program
If you are interested to make money from affiliate marketing, you are advised to sign up from among the best affiliate programs from this list. Sign up one of the affiliate programs and take about 3 – 4 days to understand about the affiliate program.
After you have joined an affiliate program, you should write down the areas of your interests and what you like to do on a piece of blank paper.
Choose a product
It is important that you select a product that you have interest in. Do a search on the affiliate network on a merchant that is offering the products and services that matches with your interests, for example, if you spend a lot of time at the gym, you can find a merchants that offer fitness products, if you have a lot of gadgets and have a lot of interests in them, you can search for merchants that offer products such as smartphones, and unique gadgets.
Research the demand
After you have selected at least 2 – 3 products, you must do research on its market to see if there are market for people. You can do research by using a variety of free online tools such as AdWords Planner Tool, YouTube, Google Trends etc.
You must seriously spend a lot of time in doing research so that you can choose the right product. You should select the product that offers the best ROI.
Promote the product
There are many ways to promote the affiliate marketing product and the most common way to do so is to set up a review site.
The review site is usually created by a product user and you are to write reviews that list down the advantages and disadvantages of the products from your experiences of using the product.
The most effective way for setting up a review site is the first buy the product so that you can use the product and test it to see whether it is a good product.
Review site can offer a good conversion rate because many consumers will do research on these sites prior to making a buying decision.
You must SEO optimize your website so that you get a lot of highly convertible traffic from Google as well as other search engines. You can also promote the product by purchasing advertising from Google Adwords.
There are plenty of other ways to promote the affiliate products including using social networking sites such as Facebook advertising, YouTube and Pinterest, submitting articles to directories, making a guest post, posting banner ads and creating ads on the classified sites.
Affiliate marketing requires a lot of concentration and patience. If you didn’t see any result, you should not be unmotivated. Many professional affiliate marketers who now generate a good income from affiliate marketing have made lots of mistakes in the past before.
They keep learning from their mistakes and ultimately they become millionaires. If you want to be successful, you must first be able to accept your failures and stand up from it. If you try 100 times, there is bound to be at least 1 time you are going to succeed and make an affiliate sale.