Affiliate marketing refers to the process of promoting a specific product and/or service of a company or merchant in exchange for a sales commission or fee. More often than not, commissions are a percentage of the sale price, while fees are fixed amounts.
How Affiliate Marketing Works
In affiliate marketing, the affiliate has to work with a company or merchant. So, when you become an affiliate marketer, you will be given a unique link so that the company or merchant that you work with can keep track of your sales and referrals.
Each time a prospective customer clinks on your unique link, a cookie is stored on the device of your affiliate company or merchant. This allows them to attribute any sale back to you, in case you were able to successfully convince a person to make a transaction.
Benefits of Affiliate Marketing
If you have not done any affiliate marketing in the past and are considering trying it now, here are some of the benefits that you may want to keep in mind:
Affiliate marketing is low risk and low cost.
Yes, it is possible to start a business without putting too much risk or shelling out a lot of money. Unlike other business ventures, affiliate marketing does not involve upfront costs for anything, even the products and/or services that you have to promote.
So, you can rest assured that you will not go bankrupt. You simply need a platform in which you can promote the products and/or services. For instance, you can set up a website. While it is ideal for you to use a website that is professionally done, you can use free ones with templates if you are on a tight budget.
Affiliate marketing is easy to scale.
As an affiliate marketer, there is no need for you to be exclusive with one company. In fact, you can promote as many products and services as you want. You can collaborate with as many companies and merchants as you wish. This way, you can maximize your earning potential.
Affiliate marketing is not a get-rich-quick scheme, but it can be a lucrative source of income if done the right way.
Getting Started with Affiliate Marketing
Affiliate marketing really sounds great, easy, and profitable. So, how can you get started with it?
Select a platform.
As mentioned previously, you can use any platform you want to promote the products and/or services of your affiliate company or merchant. Then again, the most popular platforms today are personal websites and social media.
You can create your own website from scratch or simply use a website builder such as Wix and GoDaddy. The great thing about having your own website is that you get to have your own space. So, you can do whatever you want to do with it such as upload images and videos. You also get to choose your own theme and design.
With a website, you can promote the products and/or services using search engine optimization (SEO). You can include keywords and key phrases in a blog post, as well as image descriptions and meta descriptions. Then, you can insert your affiliate links.
You can also use social media platforms such as Facebook, Instagram, and YouTube. Almost everyone has a social media account. So, it can be much easier to acquire online traffic using these platforms. Just like with blogs, you can insert the affiliate link in your content.
For example, if you choose to create and upload YouTube videos, you can optimize your content for search engine optimization by using keywords and key phrases as well as inserting the affiliate links in your video descriptions.
Keep in mind that the Federal Trade Commission (FTC) requires YouTubers to be transparent about their endorsements. So, if your video is sponsored, you need to disclose it. You need to inform your viewers that what they are seeing is sponsored content.
Select a niche.
Your niche is practically your specialization. There are actually plenty of niches you can choose from. However, you have to select the one that you are most knowledgeable and comfortable about. This way, producing content that focuses on it will come up naturally.
In addition, make sure that you become really specific with your niche. For example, if your niche is food, you have to become even more specific about it. You can use:
- Filipino cuisines
- Grilled foods
- Steaming seafood
- Exotic dishes
- etc.
You can rank higher in the search engines if your niche topics are specifics. Online users will be able to search for your content much easier and faster. Hence, you will be able to generate organic visitors on a regular basis.
Search for affiliate programs.
How much money you earn from affiliate marketing will also depend on the affiliate programs that you join. In essence, there are programs that are low volume and high paying. There are also programs that are high volume and low paying.
What’s more, there are affiliate programs that are high volume and high paying. These programs are great because they pay large commissions. However, you can have a lot of competitors for these affiliate companies. So, you need to do your best to outdo them.
Produce amazing content and generate online traffic to your affiliate website.
If you want to get the attention of people, you need to produce content that is both interesting and useful. Do not create content that other people cannot benefit from. After all, people search online for content that will be helpful, beneficial, and entertaining for them.
In addition, see to it that you add affiliate links naturally to your content. Do not try to force them in if they do not sound right. You have to look good to your viewers as well as to the search engines. Your viewers should feel compelled to click on these affiliate links.
Turn clicks into sales.
In order for you to earn money via affiliate marketing, you have to make the necessary conversions. First, your visitors should click on the link and be redirected to the website of your affiliate company or merchant. Then, they should make a purchase.
Basically, the more people you are able to convince to make a purchase, the more money you can make.
Final Thoughts
Affiliate marketing is not a get-rich-quick scheme, but it can be a lucrative source of income if done the right way. You have to be patient and determined. Follow the tips mentioned above and you will be able to make good money over time. You need to have the right attitude and skills to succeed in this venture.
