HOW DOES AFFILIATE MARKETING WORK?
What is affiliate marketing all about?
Affiliate marketing is an online sales tactics that lets a product owner increase sales by allowing others targeting that same audience –‘affiliates’- to earn a commission by recommending the product to others.
At the same time, it makes it possible for affiliates to earn money on product sales without creating products of their own. Simply put affiliate marketing involves referring a product or service by sharing it on a blog, social media platform , or website .
The affiliate earns a commission each time someone makes a purchase through the unique link associated with their recommendation . Done well this performance – based opportunity can become an important part of your business by netting you a healthy income.
How does affiliate marketing works ?
To participate in an affiliate marketing program, you’ll need to take these five simple steps:
Find and join affiliate program
Choose which offers to promote
Obtain a unique affiliate link for each offer
Share those links on your ‘blog’ , social media platform or website
Collect a commission anytime someone uses your links to make a purchase
Commission rates vary dramatically depending on the company and the offer . On the low end , you’ll earn about 5% of the sale but, with some arrangement , you can earn as much as 50%, usually when promoting a class or event . These are also affiliate marketing program that provide a flat rate per sale instead of a percentage.
Benefits of the affiliate marketing model?
Affiliate marketing offers several benefits to affiliates (i.e. you) , one of which is its ease. Your side of the question simply involves handling the ‘marketing’ side of building and selling a product- educating customers. You don’t have to worry about the hard tasks, like developing , supporting ,or fulfilling the offer.
Affiliate marketing is low risk. Since there’s no cost to join affiliate program, you can start making money with an established affiliate product or service without any upfront investment . Affiliate marketing also can generate relatively passive income through commission – the deal money making scenario .
Through initially you’ll have to invest time creating traffic sources, your affiliate links can continue to deliver a steady pay check. Finally , successful affiliate marketing offers the potential to significant scale your earning without hiring extra help.
You can introduce new products to your current audience and build campaign for additional products while your existing work continues to general revenue in the background. Before you get too excited, know that great affiliate marketing is built on trust .
While seemingly there are an endless number of products or service to promote , it’s best to only highlight those you personally use or would recommend . Even when a product interest you or fits within an existing hobby, becoming a great marketer for that product takes a lot of work.
How to find affiliate programs?
If you’re wondering how to get your feet wet in affiliate marketing, you’ve got a few options. Not every company offers affiliate programs- some businesses manage their own affiliate programs while others use in affiliate network. An easy way to find affiliate programs is to visit an affiliate marketplace or platform. Browse your niche to find top performing affiliate platform . Here are some of the most popular :
C J by conversant
Share A sale
Another option is to visit the website of the products and service you use and like to see if they have an affiliate program. Large companies often have programs they promote on their site, such as Amazon Associates or the Shopif Affiliate Program.
You also can take a more direct approach. Reach out to the owner of a great product you come across and see if they offer an affiliate marketing program. If they don’t they might be happy to set up an arrangement with you, such as offering you a special coupon code to share with your followers.
The best deals often are found when you’re the first to inquire and have a relevant distribution channel, such as approaching the seller of a new fitness product if you’re health and wellness blogger. Affiliate marketing programs will have term of service you need to follow so read the fine print. For example, your link usually will have a cookie with a specified timeframe, and some program don’t allow you to purchase pay- per-click ads using the product or company ‘s name.
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