Earning an Online Income Through Affiliate Marketing
Affiliate marketing is an online business model in which you market and sell the products of other merchants. In exchange, you get a commission which is often quite generous compared to offline sales commissions. You effectively become part of the merchant’s online sales force. You can sell their products through a website, blog, email list or any other marketing channel.
Performance Based Models
In affiliate marketing, commissions are performance based. You get paid whenever your prospect performs a particular action. In offline sales, this action is usually a purchase. When someone purchases the product, you get a cut. This model is called Pay Per Sale.
There are many more models in affiliate marketing. With the Pay Per Click mode, you get paid each time someone clicks the link on your site and goes to the merchant’s site. Pay Per Lead is a model in which you get paid for each new prospect you send to the merchant. There are a variety of other models as well, including Pay Per Call.
How to Do Affiliate Marketing
The first step is to sign up with an affiliate network. This is a website where merchants offer their goods to affiliates who want to sell them. The network itself acts as the middleman, paying affiliates and helping merchants manage their promotions.
To sign up, you just need to register with the site, which usually only takes a matter of minutes. In some cases, you may have to wait for a merchant to approve your application
Search the site and find products your audience would like or could use. Check out the products well beforehand and make sure they’re of high quality. Affiliate networks offer data on their products, including how many people are buying it and how many are asking for refunds. You may be able to also find online reviews. If possible, try the product out yourself so you understand its features and quality first-hand.
Selling Affiliate Products
The most common way to sell affiliate products is through a landing page. This is a simple website whose sole purpose is to sell the product. You work on driving traffic to the site through content marketing, search engine optimization, paid ads, and other traffic generation strategies.
You can also sell the product through your site or blog, in which case you’ll get the best results with product reviews.
However, you don’t have to have a website to sell affiliate products. You can market these products to the subscribers on your list. Send your list helpful content and useful information, and occasionally throw in offers for affiliate products you think they would like. You could also sell affiliate products just through YouTube videos, article marketing, or even on Pinterest.
The Pros and Cons of Affiliate Marketing
Affiliate marketing is often touted as the easiest method for making money online. It’s easy because you don’t have to create the actual products. All you’re doing is selling them.
The only downside of affiliate marketing is that you have to work with merchants and not all are trustworthy. There can be payment issues, poor customer service, or other problems. Affiliate networks help to prevent this by establishing guidelines and rules, but you’re still selling on someone else’s terms. On the other hand, if you create and market your own products, you’re the boss.
How to Achieve Affiliate Marketing Success
What it takes to succeed at affiliate marketing is good fundamental marketing skills. You need to really know your audience and what products they would like. You also need to know how to drive traffic to your site and build a good relationship with your list.