Idiots Guide To Affiliate Marketing.
The idea behind affiliate marketing is that a person promotes other people’s merchandise, mostly through a specific affiliate network, earning some commission if consumers actually do end up buying the merchandise, thanks to your marketing/advertisement. It is based a revenue sharing formula.
If you have any product and want to make more sales, you can give promoters financial incentives through an affiliate marketing program. If you do not have any product but still want to make some money, then you can promote/advertise a given product that you may feel has some value & earn sizable income from the item as an affiliate-marketer.
Definition Of Terms.
Affiliate marketing is a process of earning commissions by promoting other companies or individual’s products. You find a product you like, promote it to other people and earns a chunk of the profit from each sale you facilitate. Therefore, affiliate marketing can be said to be a process of product marketing by different parties, whereby each participating party gets a chunk of the revenue in accordance to their contribution.
It is not just the product creation or just the promotion that defines who you are as an affiliate-marketer. You can be both a creator and a marketer and still benefit from the idea of revenue sharing.
Now let us look at the parts that form a successful affiliate-marketing partnership.
This is the seller, the creator, the retailer, the vendor, or the brand. This is the brains behind the creation of the product. It can be an individual or a big company, such as Philips, Nike, Apple etc.
The network works as the intermediary between the merchant and the affiliate. When it comes to marketing consumer products, the biggest affiliate network is Amazon. Their affiliate program lets people promote any products they stock within their website.
This ranges from single people to entire companies that do the marketing. An affiliate marketing enterprise can generate a sizeable amount in commissions per month.
A consumer makes the backbone of the affiliate system. Without any sales, there are not any commissions to be generated and no shared revenue. The affiliate marketer tries to promote to potential consumers on whichever channel they deem fit, whether that is a social network, or marketing on blogs. With basic terms clarified, let us get an overview on how you can get started with building an affiliate marketing business.
How to Locate Affiliate-Programs.
There are 3 main ways to locate affiliate-programs for any target website:
1. The affiliate-program directories.
2. The large affiliate-networks which provide a platform for dozens of advertisers.
3. Target websites themselves. (The websites that have an ongoing affiliate-program.)
The Four Steps to Becoming a Good Online Affiliate-Marketer.
There are four steps that you can take to begin a journey as an affiliate-marketer.
1). You need to begin reviewing products within your niche. This can be accomplished on a blog or even a YouTube channel.
2). Start collecting your website visitors’ emails, to ensure that you can easily connect with the audience at any given time you intend to and do not have to cross your fingers hoping that they might see your content.
3). You can utilize joint venture webinars in order to make more sales within short periods of time, while still growing the email list & creating new content.
4). When your affiliate marketing enterprise starts to pick up well, you can scale the growth with the pay-per-click advertising.
How to Become Successful in Affiliate-Marketing.
Affiliate-marketing is not hard, but it requires planing, consistent effort, and knowledge in order to make a significant income. Below are some things one can do to ensure success in the affiliate- marketing venture.
- Start slow by learning about affiliate-marketing & the steps needed to be successful. (like you are doing now.)
- Pick only quality products. You will be judged by products you promote, so do not just focus on income. Incorporate quality too.
- Do a background check on the affiliate-programs to ensure that you understand how they work, and other vital money issues to ensure the affiliate-program is a perfect fit.
- Pick affiliate products that match your niche. Match and mix affiliate ads so that you do not overwhelm the visitors.
- Market, market, and market. Do not rely on social media solely to drive potential consumers to your blog or website. Understand who your primary market is, and how to entice them.
- Create an email list. Email marketing often increases affiliate profits significantly.
- Make use of a lead page & funnel system in marketing your affiliate business. Draw in potential customers with great free offers, from here you can easily send them to your affiliate-product page.
Simple Mistakes Committed in Affiliate-Marketing.
Selling Instead of Helping.
Although the main aim is marketing, you need to help your potential consumer know why they should purchase this specific product. Give an unbiased review rather than a high pressure salesman review.
Joining every and any affiliate program instead of concentrating on the top few.
Not tracking your activities.
When you complete a sale, you need to know the origin of the sale. In turn enabling you to know what pages are receiving high traffic so you can scale and grow that campaign.
The perfect converting tactics to use to when selling affiliate products is to do a comparison of the main product being marketed with other similar products. When potential buyers are in a purchasing mode, they tend to narrow their options down to 2 and need help when making the final decision. By comparing, you assist them in making certain decisions.
Can you really make an income out of affiliate-marketing?
The short answer will be yes! The Affiliate programs can act a source of extra money and even a full time income from the comfort of your study room or even from the beach.
The long answer to the question is a bit complicated. Like any home-based venture, success will not come so much from anything you decide to do in order to generate an income, but whether you perform what needs to be done, consistently and correctly.
Affiliate-marketing is an ideal home-based business because it needs no money to start, and you do not have to produce, ship or stock inventory, or deliver any services.
For excellent free training in all aspects of affiliate marketing I suggest you give Wealthy Affiliate a try. I’ve been learning and earning with them for five years and highly recommend them. Click this link for more information and to sign up for your free account.