What is Affiliate Marketing?
In this pandemic world, an alternate income source is the only means to extricate yourself from unprecedented circumstances. There are many easy ways of generating additional income. Affiliate marketing is one of them.
In this article, you’ll get a clear insight into how to generate alternate income through affiliate marketing. You don’t require any degree or technical skill to do this.
Affiliate Marketing: Everything you need to know
Affiliate Marketing is the process of targeting a particular set of audiences, thereby assisting business owners in enhancing the sales of their product. In return, you earn a commission for recommending the product.
The affiliate can recommend the product by sharing it in a blog or a website or through social media posts. Every time someone clicks the link and makes a purchase, the affiliate provides a commission. As an affiliate marketer, you can make a hefty income without actually having to spend a single penny from your pocket.
The rates might vary based on the company and the product. Some companies offer a mere product price of 6-7% per sale, where others offer up to 50%. So, all you need to do is choose the right kind of affiliate program and use the right platforms to sell the product. Some companies even offer a fixed commission for their products.
Everything You Need to Know About Making money through affiliate marketing
As an affiliate marketer, all you have to worry about is selling and creating awareness about the product. You need not involve yourself in the developing and production stage.
Affiliate marketing involves minimal risk and zeroes investment. All you have to do is join a particular affiliate program that offers a good commission and start sharing the product on different social media platforms and websites.
Here, the only investment is time. Generating traffic is one of the difficulties initially. But once you end up targeting the right audience, you are sure to make a steady income out of it.
You can scale your earnings within a short period when you get a knack for it. And you can create campaigns and use individual strategies to generate the right kind of audience to purchase the product.
If only the product or service is worth the money, you can expect the sales to happen. Therefore you need to take a lot of effort to do the background work before undertaking an affiliate product.
Where to find the right affiliate programs?
It is hard to find the right affiliate programs for beginners. Not all businesses offer affiliate network marketing. Some of them only have their affiliate team. So, where can you find yourself an ideal affiliate program?
There are platforms like AffiliateNetwork, Avant Link that offer affiliate programs. And most companies offer affiliate programs if you purchase their product. So, you can always enroll yourself in such programs and kickstart your affiliate marketing career.
You can also try out the old-school method, where you can approach a business owner directly and offer to sell their product for a commission. And most businesses offer a special coupon code for your audience which might help you close leads quite easily.
Choosing the right niche
It is important to choose what kind of products you want to promote. If you are a fashion blogger, you cannot promote food products in your blogs.
Hence, choosing the right niche is a significant part of starting an affiliate marketing career. Though it may sound easy to sell any product online, trust me, it is not. Every niche has a particular set of audiences. Accordingly, understanding which kind of audience to target for a specific product remains the key.
Selecting the right platform for promoting the products is also a prime thing. For instance, if you promote products for children on LinkedIn, it might never fetch you the results you expect. So, Ensure that you do the background work on promoting the product and how to do it before choosing an affiliate program.
Strategizing your affiliate offer
Though it seems easy to generate money through affiliate programs, it does require a lot of groundwork. Building trust among the audience is the key here. Since the success of your campaign lies in the quality of the product.
Writing a review based on the product will give a clear idea to the audience about their expectation. A great review always catches the eye of a genuine customer. Create Vlogs that state the use and USP of the product. Link the website of the company with the description to create brand awareness among the audience.
Use tools like photoshop, CANVA, Animator to create alluring social media posts. It will attract genuine buyers for the products and also enhance the chances of closing the deal. Offering discounts is also one way of generating potential leads.
Another significant way of gaining customers’ trust is by putting up reviews from previous customers who have used the products. It might be in the form of Vlogs or blogs. You can even create an explainer video for the product.
Distributing the link over different platforms is also a significant part of affiliate marketing. Most affiliate marketers use Facebook to share referral links. They create ads and run campaigns on Facebook.
The ads comprise the affiliate links for the product. When a potential lead clicks the ad, it redirects to the website or blog, where the customer gets to know everything about the product. It is one of the best modes of enhancing the sales of a product.
It is all about convincing the customer to buy the product no matter how you do it at the end of the day.
Is affiliate marketing legal?
Most beginners might have this question running in their minds. Is this all legal? Yes, it is. Always make sure that you disclose a disclaimer to the audience. It is because you are using external links for the products. The disclaimer states the percentage for the product purchased without ad on cost.
Products that can be sell using Affiliate Marketing
It is always better when you are starting up to promote products that people are vigorously looking for. For instance, Health and beauty products are those that never go out of trend. Some people are always looking out for products that can help them lose or gain weight.
Computer accessories are another set of products that are in demand for the past couple of decades. Joysticks, speakers, keyboards, printers are all in demand. You can join the right affiliate programs and earn a good sum selling such products.
If you are a person who has a good sense of fashion, then there are so many businesses out there that are on the lookout for affiliate marketers to promote their apparel and wardrobe collections.
Backpacks, protein shakes are some of the other products that are in trend and will help you fetch you a desirable commission to start with.
Some of the business that uses affiliate marketing:
Not all companies use affiliate marketing services. But some companies generate major revenue using Affiliate Marketing. Here, we mention Some of them.
ClickBank is the place you should check out known affiliate networks if you’re looking for a digital product to promote as an affiliate. As it is the marketplace for thousands of digital products (like e-books, videos, and software), you can make affiliate commissions. Top entrepreneurs choose ClickBank because they automate work while scaling their sales.
ShareASale is an innovative technology, provides an advanced and unparalleled platform for affiliate marketing. You can connect with merchants and start making your blog profitable for you via ShareASale.
Frequently Asked Questions
How can you earn money using Affiliate Marketing?
Affiliate Marketing can help you fetch an alternate income in one of the easiest ways. No required technical skill or a degree is required. The thing only you need to do is enhance the sales of a product by generating potential leads. Then you can earn a commission for it.
Does affiliate marketing require any investment?
No, you don’t have to invest anything to be a part of an affiliate program. The only investment that is required here is your time. Targeting the right kind of audience requires a huge amount of groundwork.
In which platforms can I promote affiliate products?
You can promote affiliate products on almost all social media platforms. And also, promote the products in your blogs and generate potential customers. Most affiliate marketers run campaigns on Facebook and other social media platforms to generate potential buyers. You can even promote the products on Whatsapp by sharing the referral links in different WhatsApp groups.
How much do you earn using Affiliate Marketing?
You can scale your earnings as you grow as an affiliate marketer. There is no particular limit. Some businesses offer marketers about 50% of product sales. It is usually for affiliate programs associated with events and courses.
On what basis do affiliate marketers get paid?
Affiliate marketers get paid on three different bases, and it entirely depends on the type of business. Most businesses offer commission based on sales per product. Some companies provide commission pay-per-lead based, where few offer pay-per-click.
Affiliate marketers get paid for the number of potential leads they generate. As far as concerning pay per click, it requires you to generate traffic to a particular website.
Affiliate Marketing has become a wonderful platform for individuals to make an alternate income. There are surplus opportunities for affiliate marketers nowadays. With almost all the business going online, it has opened a lot of earning opportunities.
Several e-commerce platforms like Amazon, Shopify, eBay are all offering full-time job opportunities for affiliate marketers. Not many are aware of this amazing earning opportunity. With this article, we hope that you’ll get to implement and kickstart your career as an affiliate marketer. Anticipating that this article served the very purpose it’s for.