Affiliate marketing is a great way to earn an income either part-time or full-time. In this article called Affiliate Marketing Part 1 How To Get Started, we will be discussing What Is Affiliate Marketing and How Does Affiliate Marketing Work? We will also have a recommendation at the end of the article.
We’ll also examine How Do Affiliate Marketers Get Paid and Way Be An Affiliate Marketer?
If you’re on the “fence” as to start an Affiliate Business, I hope this article will help you in your decision.
At one point I was where you may be now. I made the decision to start an affiliate business and today looking back I have never regretted making the decision to move forward.
But a word of caution: If you are new or looking get the best training available. Affiliate Marketing is not a get-rich-schem. It takes work and a little knowledge to become successful. I highly recommend you begin with learning the basic, make mistakes and learn more. Move on to more advance marketing tips and training.
At the end of this article I will make a recommendation as to what I believe to be the best affiliate training company today and very affordable.
Lets begin:
This is a 2 article report on Affiliate Marketing for the beginner as well as the more advanced Affiliate marketer.
In this first article I will be covering:
- What Is Affiliate Marketing?
- How Does Affiliate Marketing Work?
- How Do Affiliate Marketers Get Paid?
- Why Be An Affiliate Marketer?
- Common Types Of Affiliate Marketing Channels
- Tips to Help You Become A Successful Affiliate Marketer
In Part Two, I will discuss:
- Tips to Help You Become A Successful Affiliate Marketer
- What are the Top Affiliate Marketing Trends of 2019?
- What Affiliate Marketing Strategies Should You Employ in 2019?
- Benefits To Joining the BigCommerce Affiliate Program
- What To Look For When Joining An Affiliate Company
Introduction
If you’re like many people you have a job. Now correct me if this is not the way working at a job works:
Waking up
You wake up at an ungodly hour. Sleepy eyed, you shower and get dressed. Still half asleep, you make your way to the kitchen and if your lucky enough make a cup of coffee or tea. If you have a family, you get the kids ready and off to school. If it’s Winter, and you live in snowy states, you may have to clean the drive of snow. If not, you start the car and back out of the drive.
Now the problem: Just like you, there are hundreds even thousands of others who have just back out of the drive. Like every other day, you are now in Traffic. In the big cities, you are probably in a Traffic gridlock, streets jammed with other half-asleep commuters.
You finally make your way to your work. You park the car and walk to your office. By now you NEED a cup of coffee.
You now begin to Slog through email after mind-numbing email. The boss needs something or you are working on your daily task. LUNCH. You either work through lunch or take your lunch break. Back to work and waiting for the sweet release at five o’clock.
YOUR NOT DONE!
Remember the morning drive? Your doing it again this afternoon. Your home, tired and you have to do it all over tomorrow!
Morning Commute
Sounds terrible doesn’t it?
I did that for 12 years and every year it got worst with more drivers.
If you ride the train or transit, replace the drive with crowed commuters, maybe add taxi or bus.
FUNNY NOTE: While in college, one of my professors said, “If you drive more than 15 minutes to work…either move closer or get a new job.”
What if, instead of dealing with the monotony and stupor of the rat race to earn a few bucks, work 40 or more hours per week and work 46 or more years, get 2 weeks vacation an 10 days of sick leave, you could make money at any time, from anywhere — even while you sleep? (Don’t plan on that just yet)
That’s the concept behind affiliate marketing.
Affiliate marketing is a popular tactic to drive sales and generate significant online revenue. Extremely beneficial to both the company and affiliate marketers. The new push towards less traditional marketing tactics has paid off. In fact:
- 81% of brands and 84% of publishers leverage the power of affiliate marketing, a statistic that will continue to increase as affiliate marketing spending increases every year in the United States.
- There is a 10.1% increase in affiliate marketing spending in the United States each year, meaning that by 2020, that number will reach $6.8 billion.
- In 2018, content marketing costs were gauged to be 62% of traditional marketing schemes while simultaneously generating three times the leads of traditional methods. In fact, 16% of all orders made online can be attributed to the impact of affiliate marketing.
- In March of 2017, Amazon’s affiliate structure changed, offering rates of 1-10% of product revenue for creators, providing the opportunity for affiliates to dramatically increase their passive income based on the vertical they’re selling on.
- The affiliate marketing of Jason Stone, otherwise known as Millionaire Mentor, was responsible for as much as $7 million in retailer sales just in the months of June and July in 2017.
Pretty amazing statists.
What Is Affiliate Marketing?
What Is Affiliate Marketing?
If you are new or just learning, Affiliate marketing is the process by which an affiliate earns a commission for marketing another person’s or company’s products. The affiliate (you or me) simply searches for a product they enjoy, then promotes that product and earns a piece of the profit from each sale they make. The sales are tracked via affiliate links from one website to another.
Source: JustLearnWP.com
How Does Affiliate Marketing Work?
Because affiliate marketing works by spreading the responsibilities of product marketing, it manages to leverage the abilities of a variety of individuals for a more effective marketing strategy while providing affiliates with a share of the profit. To make this work, three different parties must be involved:
- Seller and/or product creators
- The affiliate or advertiser
- The buyer
Let’s delve into the complex relationship these three parties share to ensure affiliate marketing is a success.
1. Seller and/or product creators.
The seller, whether a solo entrepreneur or large enterprise, is a vendor, merchant, product creator, or retailer with a product to market. The product can be a physical object, like household goods, personal products, games, toys or a service. The company or seller may also known as the brand. The seller does not need to be actively involved in the affiliate marketing, but they may be the advertiser. Both will profit from the revenue sharing associated with affiliate marketing.
As an example: An affiliate markets Nike shoes. When a buyer purchases the Nike shoes from the affiliate’s website, both Nike and the affiliate make money.
2. The affiliate or advertiser.
The affiliate can be either an individual or a company that markets the seller’s product to potential buyers. In other words, the affiliate promotes/advertises the product to persuade buyer that it is valuable or beneficial to them and convince them to purchase the product. If the buyer does end up buying the product, the affiliate receives a portion of the revenue made.
Affiliates often have a very specific audience or Avatar to whom they market, generally adhering to that audience’s interests. This creates a defined niche or personal brand that helps the affiliate attract buyers who will be most likely to act on the promotion.
3. The Buyer.
Whether the buyer knows it or not, they (and their purchases) are the drivers of affiliate marketing. Affiliates share these products with them on social media, like Facebook, YouTube, blogs, and websites.
When buyers purchases the product, the seller and the affiliate, as explained share the profits. Sometimes the affiliate will choose to be upfront with the buyer by disclosing that they are receiving commission for the sales they make. Other times the buyer may be completely oblivious to the affiliate marketing infrastructure behind their purchase.
Either way, they will rarely pay more for the product purchased through affiliate marketing; the affiliate’s share of the profit is included in the retail price. The consumer will complete the purchase process and receive the product as normal, unaffected by the affiliate marketing system in which they are a significant part.
How Do Affiliate Marketers Get Paid?
How does an affiliate marketer get paid?
As already explained, affiliate marketers get paid a commission upon the sale of a products from the seller or company. A quick and inexpensive method of making money without the hassle of actually owning a product, affiliate marketing has an undeniable draw for those looking to increase their income online.
But how does an affiliate get paid after linking the seller to the buyer? The answer is not complicated.
In this example, the potential buyer doesn’t always need to buy the product for the affiliate to get a kickback. Depending on the affiliate company program, the affiliate’s contribution to the seller’s sales will be measured differently. The affiliate may get paid in various ways:
- Pay per sale
- Pay per lead
- Pay per click
Here’s a quick look on each of these pay programs.
1. Pay per sale.
This is the standard affiliate marketing structure. In this program, the merchant, seller, company pays the affiliate a percentage of the sale price of the product after the buyer purchases the product as a result of the affiliate’s marketing strategies. In other words, the affiliate must actually get the buyer to purchase the product before they are compensated.
2. Pay per lead.
While some may think this is a more complex system, it operates much like the Pay per sale. In this program the affiliate directs the potential buyer to the company or seller. The affiliate persuade the buyer to visit the merchant’s website and complete a desired action —it could be filling out a contact form, signing up for a trial of a product, subscribing to a newsletter, or downloading software or files. When the buyer completed the action, the affiliate get paid.
As you can see, no actual product is sold…only the lead the company or seller receives from the potential buyer.
3. Pay per click.
This program focuses on incentivizing the affiliate to redirect consumers from their marketing platform to the merchant’s website, much like Pay per lead. This means the affiliate must engage the buyer to the extent that they will move from the affiliate’s site to the merchant’s site. The affiliate is paid based on the increase in the company or sell’s web traffic.
Why Be an Affiliate Marketer?
Why be an affiliate marketer?
There are many reasons to become an affiliate marketer. So why be an affiliate marketer anyway? There are 6 easy reasons, not to mention the problem in the Introduction: Commuting to your job.
- Passive income
- No customer support
- Work from home
- Cost effective
- Convenient and flexible
- Performance based rewards
Now let examine each of the 6 reasons why you should be an affiliate marketer.
1. Passive income.
While any “regular” job requires you to be at work to make money, affiliate marketing offers you the ability to make money while you sleep. By investing an initial amount of time into a campaign, you will see continuous returns on that time as consumers purchase the product over the following days and weeks. You receive money for your work long after you’ve finished it. Even when you’re not in front of your computer, your marketing skills will be earning you a steady flow of income.
2. No customer support.
Individual sellers and companies offering products or services have to deal with their consumers and ensure they are satisfied with what they have purchased. Thanks to the affiliate marketing structure, you’ll never have to be concerned with customer support or customer satisfaction. The entire job of the affiliate marketer is to link the seller with the consumer. The seller deals with any consumer complaints after you receive your commission from the sale.
3. Work from home.
If you’re someone who hates going to the office, affiliate marketing is the perfect solution. You’ll be able to launch campaigns and receive revenue from the products that sellers create while working from the comfort of your own home. This is a job you can do without ever getting out of your pajamas.
4. Cost effective.
Most businesses require startup fees as well as a cash flow to finance the products being sold. However, affiliate marketing can be done at a low cost, meaning you can get started quickly and without much hassle. There are no affiliate program fees to worry about and no need to create a product. Beginning this line of work is relatively straightforward.
5. Convenient and flexible.
Since you’re essentially a freelancer, you get ultimate independence in setting your own goals, redirecting your path when you feel so inclined, choosing the products that interest you, and even determining your own hours. This convenience means you can diversify your portfolio if you like or focus solely on simple and straightforward campaigns. You’ll also be free from company restrictions and regulations as well as ill-performing teams.
6. Performance-Based rewards.
With other jobs, you could work an 80-hour week and still earn the same salary. Affiliate marketing is purely based on your performance. You’ll get from it what you put into it. Honing your reviewing skills and writing engaging campaigns will translate to direct improvements in your revenue. You’ll finally get paid for the outstanding work you do!
Types of Affiliate Marketing Channels
Most affiliates share common practices to ensure that their audience is engaged and receptive to purchasing promoted products. But not all affiliates advertise the products in the same way. In fact, there are several different marketing channels they may leverage.
1. Influencers.
An influencer is an individual who holds the power to impact the purchasing decisions of a large segment of the population. This person is in a great position to benefit from affiliate marketing. They already boast an impressive following, so it’s easy for them to direct consumers to the seller’s products through social media posts, blogs, and other interactions with their followers. The influencers then receive a share of the profits they helped to create.
2. Bloggers.
With the ability to rank organically in search engine queries, bloggers excel at increasing a seller’s conversions. The blogger samples the product or service and then writes a comprehensive review that promotes the brand in a compelling way, driving traffic back to the seller’s site. The blogger is awarded for his or her influence spreading the word about the value of the product, helping to improve the seller’s sales.
3. Paid search focused microsites.
Developing and monetizing microsites can also garner a serious amount of sales. These sites are advertised within a partner site or on the sponsored listings of a search engine. They are distinct and separate from the organization’s main site. By offering more focused, relevant content to a specific audience, microsites lead to increased conversions due to their simple and straightforward call to action.
4. Email lists.
Despite its older origins, email marketing is still a viable source of affiliate marketing income. Some affiliates have email lists they can use to promote the seller’s products. Others may leverage email newsletters that include hyperlinks to products, earning a commission after the consumer purchases the product. Another method is for the affiliate to cultivate email lists over time. They use their various campaigns to collect emails en masse, then send out emails regarding the products they are promoting.
5. Large media websites.
Designed to create a huge amount of traffic at all times, these sites focus on building an audience of millions. These websites promote products to their massive audience through the use of banners and contextual affiliate links. This method offers superior exposure and improves conversion rates, resulting in a top-notch revenue for both the seller and the affiliate.
Finally
In part 1 of Affiliate Marketing What It Is and How To Get Started, you saw the many advantages. First affiliate marketing is really easy to start. Second, you can start on shoestring budget or no money to start. Fourth, you can set your business up in various ways: pay per sale, pay per click and pay per lead.
Affiliate has a great advantage of starting part-time making a good income before going full-time. In either a part-time or full-time income, affiliate marketing can be operated from you home. You don’t own the product, you only market the product. You don’t have to worry about shipping, returns, complaints or in most cases collecting the money.
Affiliate marketing has been stated as: “The perfect home business!”
Click Here To Access Part 2 of Affiliate Marketing and How To Get Started
My Top Advice If You Want To Become An Affiliate Marketing Success Story
Have patience! That is my #1 tip for those that want to become their own affiliate marketing success story. You have to be patient. This is a business just like any other businesses. Most small businesses take, what, a few years to truly start turning a profit? Affiliate marketing absolutely is a legitimate business that can earn you well into the 6 or even 7 figures, but you should not expect that to happen without months, if not years of hard work and consistent effort.
The vast majority of affiliate marketers never find success simply because they give up. Most people are very motivated in the first few weeks, but then life gets in the way, other things take priority, and affiliate marketing businesses become deserted and go nowhere.
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