WHAT IS AFFILIATE MARKETING ABOUT?
It’s a commission-paid opportunity.
You get paid when you sell other businesses’ services or products.
You earn a commission for endorsing other businesses and helping them to promote and sell more of their products and services.
To put it bluntly, you act as a middleman that gets paid when the transaction between the seller and the buyer takes place.
What do YOU have to focus your attention on to start and scale your affiliate business?
The only focus you should have is on getting traffic, visitors, subscribers, followers, etc.
How can YOU build a list of subscribers, followers, and so on?
By focusing on providing quality content around what you endorse through your blog, your Facebook page, your Instagram page, your YouTube Channel, Snapchat, etc.
You can become an authority, attract people to you and then direct them to the products and services that can meet their needs and solve their problems.
WHY IS AFFILIATE MARKETING SO POWERFUL NOWADAYS?
The main reason is that most businesses and brands have an affiliate program.
Companies are more and more willing to pay you a commission in exchange for your referrals.
After all, YOU help the brand to grow.
Affiliate marketing, among the other online business models, remains the one with the highest chance to generate passive income.
This business model is expanding year in and year out.
According to Statista, the U.S. affiliate marketing spending is due to reach 8.2 billion U.S. dollars by 2022, when back in 2017 the recorded figure was 5.4 billion.
According to Google Trends over the last 5 years online searches for the expression “affiliate marketing” have soared from 25 to 100 and this means an increase of 300%.
These figures and trends indicate that becoming an affiliate marketer could be a game-changer for your life.
HOW CAN I START DOING AFFILIATE MARKETING?
You have to sign up for an affiliate program.
You receive your unique affiliate link from the company you want to start endorsing.
Any time someone clicks on your affiliate link and they buy a product or service YOU earn a commission.
With this link, the company you endorse can track each sale they make through you, who clicks on your link, and who makes a purchase so that you are guaranteed YOU get paid.
HOW CAN I BECOME A SUCCESSFUL AFFILIATE MARKETER AND DEVELOP A LONG SUSTAINABLE BUSINESS?
Anyone can start doing affiliate marketing easily, but when it comes to becoming a successful affiliate marketer there are some steps you should take into account.
1)Focus on one niche at a time;
Instead of trying to promote products that belong to different sectors, just narrow your attention to build your funnel of products and services around one core niche;
2)Endorse products and services YOU are really passionate about;
You will communicate the benefits that your audience will receive by buying the products and services you endorse more easily;
3)Endorse products or services YOU have been using and have proved excellent quality;
4)Choose the affiliate marketing companies that are aligned with your audience’s needs;
5)Build your list of followers;
6)Build a strong relationship with them;
7)Switch your focus from making money to providing value to your audience;
You should become a server for your followers, you should be willing to solve their problems and meet their needs.
Don’t put money first! Focus on sharing values. Money will follow.
8)Create high-quality content about what YOU are endorsing;
9)Leverage different platforms,
E.g. your authority site, blog, Facebook page, Instagram, Snapchat, Tik Tok, YouTube channel, etc;
10)Build your authority website, your brand, and your logo,
So that people will associate them with YOU.
11)Make sure YOU endorse products in high demand;
12)Improve your Search Engine Optimization skills,
So that when you create content it ranks higher in the search results and brings more traffic to your blog, Facebook page, YouTube channel, etc;
13)Keep updating your digital skills;
The digital world changes very quickly, so you have to make sure to keep up with it.
14)Learn from successful affiliate marketers and their strategies;
If they have great results, you can be successful too and you can speed up your learning process.
15)Treat affiliate marketing for what it is, a business, and not a game;
If you want to see the results you expect you have to make it your first priority you have to commit to doing whatever is needed to get momentum.
Are you ready to spend hours looking for material to create the content you are going to share with your audience?
Are you ready to work on your business till night?
If so, you are on the right track to generate a future passive income stream as a reward for your hard work;
Hard work is not enough once in a while, YOU have to provide your followers with great content regularly.
Only by being consistent can you scale your business and breakthrough;
17)Disclose your affiliation;
Affiliate Disclosure is required by the Federal Trade Commission.
You always have to inform your followers of whether any of your links are affiliate links.
Disclosing your affiliation can help to strengthen the trust between YOU and your followers.
18)Comply with the affiliate terms and agreements;
All affiliate programs are different from one another, so make sure about what YOU can or cannot do.
It’s not enough to sign up for an affiliate program and expect money to roll in.
This will happen once you have put in lots of hard work and learned and mastered the strategies of affiliate and digital marketing.
WHAT ARE THE ADVANTAGES OF THIS BUSINESS MODEL?
If you join an affiliate program, you don’t have to worry about:
- creating a product or service,
- investing in inventory,
- creating a team,
- providing customer service,
- setting the technical stuff.
The businesses for which you are an affiliate marketer are in charge of all this heavy lifting.
Besides, affiliate marketing enables YOU to:
- start your online business around your traditional 9 to 5 job so, you don’t have to worry about making ends meet,
- endorse something you believe in and are passionate about,
- have no cap on your earnings (you are responsible for how much you are going to earn, and if you are committed to putting in enough work you can scale your business to over 6 figures),
- create a passive income,
- work from anywhere in the world as long as you have an internet connection,
- create a network of friends and like-minded people.
AFFILIATE MARKETING: A WIN-WIN BUSINESS MODEL
It is a win for the brands you endorse because, thanks to you, they acquire new customers that otherwise, they would not get.
It is a win for YOU because you have the possibility to write your own paycheck without having to kill yourself working for someone else.
Furthermore, you don’t have to come up with a new idea, product, or service, i.e. you don’t have to invent anything new or take the risks that you usually have to run when you start a business.
It is a win for the customer who can rely on a good quality product or service.
PHYSICAL PRODUCT VS DIGITAL PRODUCT
It’s much easier to earn more money from digital products than from physical ones.
The reason is that physical products involve more expenses than digital ones.
Just think of the manufacturing and shipping costs linked to physical products! It is no wonder that digital ones have a much higher profit margin.
The commission you can get on a physical product ranges between 1% and 10%, while the one on digital products (e.g. ebooks, games, photography, video software, etc) can be over 50%.
It is therefore worth endorsing both physical and digital products/services.
SOMETHING TO BE AWARE OF: COOKIES
Cookies are small text files created by the site a web user is browsing.
They store information e.g. login detail, user preferences, and shopping cart contents.
Cookies make your browsing more convenient.
For instance, when you select a language on a multilingual website, the site stores this information in the form of a cookie in your browser, so the next time YOU visit the same site from the same browser the page loads automatically in the language that you previously chose by agreeing to the cookies.
In the context of Affiliate Marketing cookies allow Affiliate Programs to make certain they can determine where sales come from.
When visitors to a website click on the affiliate link, this is stored on their browser within the file called cookie.
The cookie’s expiring date is variable, it depends on the affiliate program you sign up for, however, in most instances, it lasts 30 days.
It’s important to stress that any web user can clear their browser cookies at any time.
This means that if the web users make a purchase after having cleared their browser cookies, the affiliates don’t get their commission.
It’s also important to say that a browser cookie is only tracked within the specific browser, so if the web user opens a different one to complete the purchase, the affiliates don’t get their commission.
5 OF THE MOST POPULAR AFFILIATE PROGRAMS
It’s the largest Affiliate Marketing program, so it’s easy to find the products you want to promote.
You can promote any physical product sold through this platform.
Amazon commissions range between 1% and 10%.
Not a real treat for the eyes, is it?
But what makes being an affiliate for Amazon a good opportunity is that people don’t usually buy just one item.
When they add other products or services to their basket you get a commission on each of them.
Let’s look at an example:
Let’s say that you recommend a tv on Amazon and someone buys it, but then they want to buy also a subwoofer, a bracket tv, a DVD player, etc...You will end up getting commissions on everything they add to their cart.
As regards the duration of cookies, it is 24 hours.
However, if somebody adds a product to their carts, Amazon will extend your cookie by another 90 days.
The minimum payout is 10$ by direct deposit or as a gift card.
Unlike Amazon Associate, this Affiliate Network offers mainly digital products.
It pays very high commissions, 70% on average.
As regards cookies, their duration can vary depending on the product, but it usually is 60 days.
Like Amazon Associates, the minimum payout is 10$.
3)eBay Partners Program
Like Amazon Associates, you have access to a huge selection of products.
The affiliate commission ranges from 50% to 70%.
Yet, the cookie period is 24 hours.
What’s interesting about this Affiliate Program is that affiliates get a 100% bonus anytime they refer a buyer who is new to eBay.
Besides new affiliates get double commissions over the first three months.
Like Amazon Associates and Click Bank, the minimum payout is 10$
4)Commission Junction (CJ)
It is one of the world’s largest and oldest Affiliate Networks.
It counts over 3000 merchants.
Some of the giant digital and physical companies that use CJ are:
The average commission rate, as well as the cookie duration, depends on the specific merchant you sign up with.
As regards the minimum payout, unlike the previous 3, CJ pays 50$ by direct deposit and 100$ by check.
This Affiliate Network is a great option for both digital and physical products.
It hosts over 3,900 Affiliate Programs spanning 40 different categories.
Like CJ the commission rate and the cookie duration depend on the specific merchants you sign up with.
The minimum payout is 50$.
Even if Affiliate Marketing is a huge opportunity to start your online business or take it to the next level, it’s not a walk in the park.
It takes commitment, consistency, and creativity to come up with valuable content, to create a strong relationship with your audience.
But this is exactly what the success of your Affiliate Marketing business will depend on.
Once you have built the foundations of your business, (i.e. valuable content and a strong relationship with your audience) you can literally have days when you don’t do anything apart from enjoying money rolling into your bank account.
When your audience sees YOU as an authority and someone they can trust YOU win.
You win because for them you have become their problem solver and they are going to be willing to buy whatever you genuinely promote.
So when you decide to start an Affiliate Program make sure to place your followers’ needs first in order to build trust and a strong relationship with them; this will pave the way to your success.
If you are looking for shortcuts, Affiliate Marketing is not for you.
If instead, you are willing to create a long sustainable business model, then Affiliate Marketing can be the right horse for you.
If you persevere, you will get the results you are looking for, whether it is having an extra income or quitting your current full-time job forever.
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