Make Money Online by Affiliate Marketing is one of the best “work less be rich” schemes. It requires no skills, no investment. Often people confuse it with Network marketing, which requires some amount of initial investment. So, let’s get going and see what actually is affiliate marketing.
What Is Affiliate Marketing?
The word affiliate means to be attached to a larger body (a company or organization). Affiliate marketing is a process where affiliates earn rewards mainly as commissions, for promoting certain products, services or even the website or the company as a whole.
Nowadays, most companies have their affiliate programs. For example, Amazon, flipkart , etc. You can easily find them on their website.
Affiliate marketing takes time to generate income, but it has potential to make you rich overnight. To achieve success with affiliate marketing, you would like to know what it’s, the way to start , and the way to earn money from the channel. Follow the Steps below to set up a successful affiliate marketing business.
Difference Between Affiliate and Network Marketing
Network marketing is indeed the fastest growing online business in India. Affiliate marketing is not far behind.
In affiliate marketing, you earn for your work, whereas in network marketing, you earn commission for the customers you brought. You buy a product to register, then you will sell similar products to earn. Along with that, you can tell your customers to join your network and earn like you. Then every time some in your network earns, you get a commission.
Unlike in affiliate marketing, building a good relation with your customers and network is very important in network marketing.
A few people, however, consider the network part of the affiliate marketing system. According to them, an affiliate marketing guide needs to include networks, because, in many cases, a network works as a connection between the affiliate and the merchant. You can opt to do the marketing alone or go for sites like commission junction that help you get links and payment easily with a single registration. The affiliate network then also serves as a collection of lots of products, out of which the affiliate marketer can choose which to promote.
Both affiliate marketing and network marketing are promotion-based earning, then why consider affiliate marketing?
Why Should You Consider Being an Affiliate marketer?
- It’s source of Passive income: Once you post your affiliate link, traffic keeps coming in. No extra work. You might even be earning while you sleep.
- No Skills: It requires zero skills. You don’t have to learn before you earn, which means anyone and everyone can do this.
- Zero Investment: You don’t need to buy anything to start promoting. Most sites do not charge registration fees too! The only investment you will ever have to make is your time.
- No Shipment and Storage: You don’t have to manufacture, store or ship your products. There’s no problem of maintenance and storage space.
- No Customer Service Required: These are not your products and thus, you won’t have to provide any customer service.
How Do You Earn?
Affiliate programs are different for different companies and organizations. Some of the various ways that people are paid is listed below. Before registering to a plan and devoting your time promoting a product, make sure you read their terms and conditions.
- Pay Per Click: You earn every time someone clicks your link.
- Pay Per Sale: You will be paid once a customer you brought purchases a product or service after following your link.
- Pay Per Lead: Once a customer, who used your affiliate link, signs up to the website, you will earn a commission.
The competition is high. There are many people joining affiliate programs. People begin, but leave midway. Like in every other thing, consistency is the key. Affiliate marketing has a lot of potential to generate steady income. Follow the right strategies and be consistent. It can take some time before you start earning, but be patient, because, “There is no short-cut to success.”
How It Works
Now let’s see how a successful affiliate marketing system works.
The Merchant: The merchant variously known as the creator, vendor, brand, retailer, or seller. They are the ones that make the merchandise. It is often an enormous company, like Google or can even be a new startup.
Starting from startups to massive companies like Amazon and Google, anyone might be the merchant behind an affiliate marketing program. A merchant can be anyone who has a product to sell.
The Affiliate: They are also known as the publisher. Single individuals as well as entire companies can be affiliates. An affiliate marketing business can produce a couple of hundred dollars in commissions monthly or nothing at all. The work of an affiliate is to promote products or services and try to convince potential customers of the worth of the product in a way that they really find themselves buying it.
This can be achieved by running a review blog that talks about the products you want to promote.
It could even be a whole site that’s dedicated to finding cool products associated with certain topics and promoting those affiliate products.
The Consumer: The customer or consumer makes the affiliate system possible. Without some buying, there won’t be any profit or commissions to enjoy let alone share.
Steps to Follow
- Choose a Good Plan: Read the agreement. Don’t waste your time and energy on plans that don’t pay well. For example, digital products, like audiobooks, have high commission rates of up to 5-%.
- Reliability: Promote something you believe in. If it’s a bad product and people buy it because of you, they won’t hesitate blaming you.
- Choose the Right Product: If you already have an audience, maybe on YouTube, or twitter or anywhere else. Maybe you have an art page on Instagram. You can monetize your audience by choosing the right product.
- Give Them Proof: Tell people why they should buy what you are selling
- Demand in Market: Try to promote a product which is in demand. This will make things easier for you. Use necessary tools to know about trends.
- Focus on Clicks over Quantity: Choose a product that can sell, even if they are paying less than other products. If it’s easy to sell, people would click your link, and you’ll be making money in no time.
- Be Updated: This is necessary because of the increasing competitive nature in affiliate marketing. New products, platforms and strategies; don’t miss out on any information you can get.
- Using various sources of traffic to promote service: Another common mistake affiliate marketer makes is that they are running ads just only on their own sites. There are so many other sources of traffic that you can use. Your chances of making money online increases with the increase of traffic.
How To Get More Traffic?
- Social Media Marketing: Social Media platforms are a very good place to advertise. You can create custom posts, or put the link on Instagram your story. Tell people why you think she should try what you are promoting.
- Blogs and Groups: If you have a blog that gets regular traffic, there’s no better place to put your link than that. Social media groups are also a great place to share your link to a large audience.
- Paid Ads: Facebook, Instagram and other such sites have paid ads that you can use to get more traffic. Create a catchy ad that people would want to know more about, that people can’t ignore and scroll away. Another way of advertising is paying influencers in the same niche. If you are promoting audiobooks, then find an instagram book page with a lot of followers. You might need to pay them a bit to advertise your product and link to their audience.
- Reviewing Products: Start reviewing products you are promoting, be it in your YouTube channel or blog or social media account. It is important to create different accounts for reviewing different niches. When people read, they remember. That’s how advertisements work.
- Email Marketing: Let’s understand this with an example. Suppose you are promoting a keyword research tool. Think, who needs it. Search anything on google and go to the bottom. Go to the 4th or 5th page on google and open any website. They need SEO and Keyword research. On their contact information page, you will find their email. Email them your affiliate link and tell them how it can help them rank their page on google. Email marketing is a large concept. You can watch a few videos on it to understand it better. Learn about creating an outline message, list the recipients and more.
- Webinars: When you provide live webinars demonstrating the use of your product, people will trust you. Tell them how your product can add value to their lives. There will be no confusion , no doubt.
- Observe and Learn: Follow successful people in the field of affiliate marketing. Learn from YouTube. Boost your knowledge and stay updated. Observe what other people are doing to get clicks. Try to implement their strategy.
Popular Websites That Provide Affiliate Programs
Let’s take a look at some popular websites that you use daily that provide affiliate programs too and find you how you can benefit from them.
- Amazon: Amazon has a lot of affiliate programs, starting from audio books to anything that sells on amazon. It’s an established company, and trustworthy. However, to become an Amazon Associate, you need to have an active website, blog, app, or YouTube channel that gets good traffic. It will be even better if you’ve legit content on the site, so it appears active and authentic to both users and Amazon.
- Flipkart: Flipkart has various affiliate programs and is one of the first companies in India to start affiliate marketing. Just search on google, “flipkart affiliate program” and you get it. You can earn up to 12% every time a user clicks on the banner/link and makes a purchase on Flipkart.
- PayPal : You can earn a maximum of $100.Your referee must use your link to sign up and receive international payments of at least US $100* within 45 days of signing up. When you invite friends, and PayPal gets a customer. When that customer receives a payment, PayPal charges (4 – 2)% of the amount. From that you get a commission.
- Google Pay : You earn rewards for inviting friends. That’s affiliate. Guess, you’ve been doing that already.