You want to know how to make money from affiliate marketing ? If your answer is YES, then this piece is for you. Affiliate Marketing has been the most sought out smart money-making decision in 2022. You’ve probably heard this term or been involved in affiliate marketing in one way or the other with absolutely no idea you’re in it.
Think back to the several times you helped push your friend’s sales through word of mouth or hyped their new product on social media. That my dear, is affiliate marketing, the only difference is you’re not being paid for it, but you could.
What is affiliate marketing?
Affiliate marketing is an arrangement between two parties, the retailer(creator) and publisher(affiliate marketer), these two are the major players in the affiliate network, right after the client. This arrangement includes the retailer creating a product and the affiliate marketer promoting these products to the consumers at a commission on eac sale.
Parties involved in affiliate marketing.
There are three parties involved in the affiliate marketing community, they include:
1. The creator:
The creator is also known as the retailer or creator, we’ll be using this term interchangeably, the creator creates the product that’ll be used in the affiliate space , the creator could be a company that makes a variety of products or an individual trying to boost sale of his product/service.
2. The affiliate marketer:
The affiliate marketer also known as the publisher is the individual who promotes the product of a creator using an affiliate link, this link tracks when consumers purchase a product and then the affiliate earns a commission.
3. The consumer:
The consumer is the receiver/purchaser of the product, also known as the target audience.
How make money from affiliate marketing .
To make money in the affiliate network, you have to be either a creator or a publisher, the creator solely creates a product, finds an affiliate marketplace, and puts it up for publishers to promote.
Depending on what affiliate marketplace is used, the retailer fixes each commission per percentage or per fixed/flat rate. This method was used to illustrate how affiliate marketing works. You’re probably here hoping to make fast and smart money and not bother about creating a product, this is where the affiliate marketer comes in.
Who is an affiliate marketer?
An affiliate marketer is someone who is paid to promote another person’s product via an agreement or affiliate program. An affiliate marketer focuses on promoting, attracting, and convincing customers to purchase a retailers product, these products could range from sporting gear, books, recipes, e.t.c. There are so many opportunities for sale on the affiliate network, you have only to identify your niche.
How can I start affiliate marketing?
After identifying what type of affiliate you want to be, either a retailer or publisher, if it’s publishing, the next thing to do to become an affiliate marketer/publisher is:
1. Find an affiliate program:
There are varieties of affiliate programs to choose from, the most popular being on amazon. Before jumping on any affiliate program, you have to consider what type of products/services are on sale, the payment methods, and commissions.
You have to understand what each program entails, what percentage they collect and if it suits you, and how their commissions are run then you can join. The most popular commission type is based on how many sales you make, other commissions are run like;
•Commission Per action:
The affiliate marketer is paid for every signup, click or form submission, this is mostly run by big companies trying to expand reach.
•Commission Per install:
This method is done when the product to be promoted is software or application.e.g hosting plans on HostGator via an affiliate link.
•Commission Per lead
•Commission per click.
The commission type determines what platform you’ll promote the products, for example, the software is mostly promoted on youtube or blogs.
The most common affiliate payment methods include bank transfers, Paypal, or checks.
2. Sign up:
If the terms of an affiliate program pleases you, the next step is to sign up and wait for confirmation of acceptance, after that you’re good to go.
3. Choose a platform:
Like we said previously, your product determines your platform, although sometimes your audience may determine your product type and invariably determine your platform. So, whatever method you go by, make sure to choose a platform that works for both your product and your audience.
Since the influx of the technological age, there’ve been a variety of platforms to choose from, this is a big advantage to publishers as now they can reach more customers at little to no cost. Some of the best online platforms to promote your product include:
Blogs, Social media, podcasts, newsletters, websites, and a host of others, however, it is important to remember who your target audience is.
How do affiliate marketers make money?
Affiliate marketers make money from promoting, attracting, and convincing an audience but not every affiliate marketer uses the same method of promotion. There are three(3) ways in which an affiliate marketer can promote their promote, they include:
- Unattached method
- Relatable method
- Involved method
1.The Unattached method
Involved an affiliate marketer pasting his/her affiliate link everywhere and anywhere, in this method the marketer has no direct relationship with the consumer, it is one of the easiest methods of affiliate marketing( publishing). They mostly rely on ads and promotions, and rely on luck for consumer purchase.
2. Relatable method:
This method involves the affiliate marketer (publisher) promoting products in his niche. The publisher has an already existing audience and whether or not he uses the product, the product revolves around his niche so he can always make sales.
3. Involved method:
This method involves the affiliate marketer using the products and services he promotes, this method relies on organic traffic, in the form of blogs, websites, and youtube content. The affiliate has an already existing audience, and this form of affiliate marketing has a greater chance of thriving.
How affiliate marketing works
Affiliate marketing in six simple steps,
STEP 1: The affiliate promotes a product, and provides an affiliate link
STEP 2: The customer is convinced and clicks the link
STEP 3: The customer buys the product.
STEP 4: The affiliate program/network records the transaction.
STEP 5: The purchase is confirmed by the retailer.
STEP 6: The affiliate is paid a monetary commission.
And that guys, is how affiliate marketing works.
There are several doubts about the affiliate program, whether it is a get-rich-quick scheme or whether it may crash. well affiliate marketing has been around for a while and it doesn’t seem to be going anywhere any time soon, especially the fact it depends on organic traffic.
Still having doubts about joining the affiliate network, here are six (6) reasons why affiliate marketing is the smartest money move.
Six (6) reasons why affiliate marketing is the smartest money move.
- Affiliate marketing is easy to navigate and is based on organic traffic, so there’s no manipulation.
- Affiliate marketing is low risk and requires no actual cost to begin.
- It allows different methods of broadcast.
- There are several affiliate programs everywhere, there’s Shopify,share-it-sale, amazon, and a host of others.
- There are a variety of products to promote.
- Commissions begin from 5% and could be up to 50% in sales.