How to Make Money with Affiliate Marketing
What if I tell you, you can generate money online without selling and having products? All you need to do is to post the link or banner to any social media platform. Many people have been doing affiliate marketing for years, and it gives them a decent income.
What is Affiliate Marketing?
Affiliate Marketing is a marketing scheme wherein the third-party publisher, whom we call “Affiliates/ Affiliate marketers, creates or generates traffic and leads to the product or services. Basically, you are encouraging other people’s services and products on your website. You’re essentially promoting their goods, and you receive a commission when a website visitor purchases the product.
How Does Affiliate Marketing Work?
- The merchant gives you a unique affiliate link so they can track who is responsible for which sale. Post the link to a blog or any social media platform to promote.
- When a visitor clicks on that link, he/ she will be directed to the chosen affiliate platform.
- As soon as the visitor purchases a product or service, the affiliate network will then record the transaction’s purchase and detail. One good news is that the visitor doesn’t need to exactly buy the product you’re promoting.
- The affiliate platform confirms the purchase as a valid sale. In my experience, they usually credit it to you after the product has been delivered. Affiliate platforms are very strict regarding promoting—no fake promotions.
- The transaction is credited to you.
- Get your commission.
How much money can I make as an Affiliate?
Talking about the potential you can get doing affiliate marketing, well, all I can say is, the sky is the limit. It depends on how much effort you are willing to put into it. To give you a range, you can potentially earn from zero to a million bucks. To inspire you, here is a sample income from Clickbank.
How to get started?
Step 1: Start by enrolling in an Affiliate Program
There are lots of Affiliate platforms to choose from. However, if you are a beginner, choose a maximum of 3 affiliate platforms. Some platforms include Amazon, Clickbank, eBay, Lazada, Shopee, etc.
Step 2: Choose a Niche
On the other hand, Niche websites are sites that include and talk about just one specific market, one particular topic throughout the website. A lot of marketers, including me, fall into this trap. We usually thought that offering a wide variety of products will give us more money.
Step 3: Choose a Platform where you will promote
After the affiliate network’s approval, which is tricky, you need to choose which social media platform to promote. Produce a means for individuals to discover your product either make a website or place it on other platforms such as Facebook, Instagram, Twitter, YouTube, etc. Start away out there and gradually build your small business. Promoting the item will be a battle, especially if you don’t own a site.
Step 4: Create Great Content
To get visitors’ attention, you need to market it rightly by creating high-quality content. Do not just post your link anywhere. Market it by writing something about the product you are promoting to entice your visitor.
Step 5: Drive Traffic to your Affiliate Site
After creating high-quality content, the next thing you need to do is to drive traffic to your site. You can do this in 3 different ways.
- Paid Advertising: One advantage of paid advertising is when you do your ads, you will instantly get traffics.
- Search Engine Optimization (SEO): Using the right keyword for your post makes your site rank higher in Google, making you more visible.
- Build an Email List: This allows you to communicate with them directly. In this way, you will enable and lead them back to your site
Why Use Affiliate Marketing?
Affiliate marketing can be a great fit for many businesses since it’s relatively low-risk and high reward. Plus, it’s a performance-based model, which means you only pay your affiliates after they’ve delivered results (i.e. sales or leads).
Here are some other benefits of affiliate marketing
• You can scale your program up or down as needed
• You have control over who you work with (i.e. you can approve or reject affiliates)
• You can track progress and results easily
• It’s relatively easy to set up and manage
• It can be used to supplement other marketing channels
• It can be used to reach new audiences
• And more!
If you’re thinking of starting an affiliate marketing program for your business but aren’t sure if it’s right for you, hopefully, this guide has helped clear things up. In short, affiliate marketing is a great way to earn an income that can be scaled up or down as needed, and it’s relatively low-risk since you’re only paying affiliates for results (i.e. sales or leads). If you have any questions about how it works or whether it could be a good fit for your company, feel free to reach out – we’re always happy to help!