Fundamentals of Affiliate Marketing
What is affiliate marketing?
If you earn a commission for advertising or marketing products or services of another company, you are known as an affiliate for that company. The process is known as affiliate marketing. As an affiliate, you will be able to enjoy “a piece” of profit from each sale you drive. The number of sales that you drive is usually found out through links that travel from one website to another.
While answering the question, what is affiliate marketing, it is much more than what we see in the above paragraph. Let us quickly go through few facts about the same.
Fast facts about affiliate marketing
Check out these facts below-
It has been found that there has been an increase in affiliate marketing spending by as much as 10.1% in the United States every year, and it was anticipated that by 2020 it would reach $6.8 billion.
- As of 2017, the structure of Amazon affiliate marketing changed. They were offering rates between 1% and 10% of the revenue earned from the products to the creators. This encouraged the affiliates to improve their passive income from the products they were selling for the E-commerce giant.
- In 2017 (June through July), the well-known Millionaire mentor (Jason Stone) affiliate marketing facilitated sales worth as much as $7 million in retail sales.
- Experts think that affiliate marketing spending will continue to grow in the United States every year. As many as 81% of the various brands and as many as 84% of the publishers bank heavily on affiliate marketing to earn revenues.
Affiliate marketing for beginners – How to start affiliate marketing
If you want the answer to the question “how to start affiliate marketing”, in few simple sentences, this is the best to start with.
You can follow these steps to become engaged in affiliate marketing programs
First of all, you have to find a product that you are interested in and the one that you want to promote. Ideally, it would be a great idea to promote a product that you have used and encourage others to use the same.
1. In this way, when you are recommending the product to others, you know what you are marketing in the first place.
So, you have clarity of your objective which makes your efforts genuine and you know you are doing justice to the affiliate marketing companies.
2. When you run a search of the product affiliate program, you can also find it on Amazon. You can promote the same here too.
3. Next you have to sign-up for the affiliate program.
4. You will receive a special link. This link will allow the merchant to know and track those people that have clicked the link related to the product that you provided.
5. If the merchant finds that there are people buying products through the link, then you get a commission from the sale proceeds.
Affiliate marketing for beginners
Before taking the plunge as an affiliate marketer, if you are a beginner in this sphere there are few fundamentals or the basics that you must be aware of. Let us go through the same.
Types of affiliate marketing
- Site owners or webmasters- They are marketers that develop websites solely to serve as affiliate marketers. And if you want to advertise your products, you can seek assistance from them to use their websites to give visibility to your products.
- SEO Affiliates – These marketers will make use of PPC expertise and strategy to draw traffic to the website of the advertisers through social media advertisement, AdWords, and Search Engine Optimization.
- Content websites – Blogs, websites, and web portals that are content enriched serve as a popular medium used for affiliate marketing. If you are a site owner, you can write reviews about products of the advertisers so that you encourage others to buy products of the advertiser.
Why does becoming an affiliate marketer make sense?
There are few reasons why you can think of becoming an affiliate partner. These are as follows-
- It serves as a passive income
- You do not have to worry about offering customer support to the people to whom you are promoting the products.
- How you operate is cost-effective and you do not have to incur expenses for earning money
- You can work from the comfort of your home and also while you are on the move.
- Since it is performance-based, the more you sell the better your earnings
To sum it up, affiliate marketing can serve as an effective way to earn some extra cash while you still hold on to your main income.