In this digital world, to make money online, you don’t need to create a product or service.
There are millions of products out there on the internet. You need to help them to get extra sales.
You can do this from the comfort of your home.
According to Bigcommerce:
- 81% of brands and 84% of publishers leverage the power of affiliate marketing, a statistic that will continue to increase as affiliate marketing spending rises 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.
These numbers will increase day by day. So Affiliate Marketing is the best online business to start as a beginner.
Are you excited?
I know you have some questions on your mind. Like, How much can I make? Where to signup for Affiliate programs?...
I will answer all your questions in this article.
Alright, let’s dive in.
What is Affiliate Marketing?
Affiliate marketing is the process of promoting other products or services to get commission via targeted action (click, lead, or sale) through link…
You make money by promoting someone’s product.
The best thing about affiliate marketing is you can promote as many products and services.
The sales are tracked using the unique affiliate link.
Every time a company makes a sale, they give you a piece of the profit (maybe even more).
Anyone with a decent IQ will make at least $5000 per month in 8 -10 months.
Passive income allows you to make recurring commissions without extra work. We’ll talk about this later.
How does Affiliate Marketing work?
When you sign up for an affiliate program, they will share your unique affiliate link.
After you started promoting the product or service, the affiliate marketing link tracks the clicks you got, the sales you made, and commissions.
Here is an example of how it works!
Imagine you wrote a post called “Clickfunnels review.”
Someone searched Clickfunnels review on google; then, your page appears (which is full of affiliate links from Clickfunnels).
The visitor clicked on your affiliate link and redirected to Clickfunnels website cookie stored on their device.
Cookie has a time limit, for example, ten days. If the person purchases the product within ten days, you get a commission.
How do Affiliates get paid?
There are different ways an Affiliate gets paid based on the Affiliate program.
List of Steps
Pay per sale
For every sale you made using your affiliate link you get a commission.
This is the most common and profitable way to earn a passive commission.
Pay per lead
Leads are the second common way an affiliate program provides commission.
This type of payment method is used by specific industries like Real Estate, Banking, and finance industries.
Their main goal is to collect a lead who is interested in their product.
Of course, commissions will be low compared to Pay per sale based on the industry.
There are many affiliate programs that pay you for lead.
Pay per click
Yes, you will get paid when someone just clicks your affiliate link.
The main goal of the company is branding and to increase their website traffic.
Commissions are way less when compared to both.
Why Do You Want To Become An Affiliate Marketer?
You are reading this article because one of these following reasons:
Am I right?
However, by doing affiliate marketing you will get:
I started affiliate marketing for financial freedom.
I wouldn't say I like to live my life for the weekends. And I don't have to wait until the 1st of every month to pay my bills.
If you are here for one of the above reasons, you can start affiliate marketing right now.
Steps to Become an Affiliate Marketer
Huh, it looks like a lot of work.
Yeah, kind of… but you have to do this process just once.
Enough excuses, you can do this!
Step 1: Choosing a niche
If you are a beginner, choosing a niche is confusing. It is a crucial step for any online business.
I’ll make it simple for you.
Note down your interests, passions, hobbies, and anything that makes you excited. Remember, you need to create content continuously to make sure to pick the right niche.
Suppose the niche is broad-one try sub-niche. The Sports niche is the broad one, hence too much competition. Try niching down. You can blog about baseball.
Alright, you pick a niche. Now you have to validate if that niche is profitable or not.
Watch this video to get a clear idea about choosing the niche.
Step 2: Finding an affiliate program
Alright you selected your niche, you need to find affiliate programs that will pay you for promoting their products.
There are many affiliate networks you can join. Here the trusted affiliate networks you can Signup:
After signup affiliate networks,
For example, you joined an Affiliate program called Clickbank.
Try searching for Baseball. You will find some affiliate programs. Select one, get your unique affiliate link.
Do some research about the product. If it is possible to purchase the product, review it, then promote it.
It is the recommended process. I promoted some products without knowing about it. Guess what? I lose the trust of my customers. It might affect your business.
Step 3: Building your platform and create content
Huh, you have selected your niche and get your affiliate link.
You have to build a platform to promote your affiliate link. Whether its a website, Youtube channel, or an Instagram page.
I highly recommend creating a website might cost you 3-5 dollars per month. Then use social media to drive traffic.
Creating content is the hardest part of affiliate marketing.
Don't worry about the competition. Just create content consistently. That's why niche selection is essential.
Step 4: Drive Traffic
There are many ways to drive traffic to your website, which include free and paid methods.
If you expect results quickly and profitably, implement both free traffic and paid traffic strategies. Free traffic takes a long time and effort when compared to paid traffic.
Step 5: Collecting leads
Okay, storytime: When I started affiliate marketing through youtube, I created a video and placed an affiliate link in the description. Guess what. I got 175 clicks in a month and 0 sales.
Not even a single sale. Because I didn’t collect any leads to follow-up with my customers.
Email marketing is the best way to generate passive income in any online business. That’s why every marketer says, “money is in the list.”
There is a less chance a visitor clicks your affiliate link then purchase instantly. You need to nurture them and give a great value then offer your affiliate product.
Now you understand why collecting leads is essential.
Step 6: Generate your first Affiliate sale.
You build websites, drive traffic, and collect leads. Then what?
Before you offer a product, you need to give the customer great value and build trust, showing the testimonials and then offering the product.
It would be best if you put a lot of effort upfront then automate the process.
Affiliate marketing is a billion-dollar industry. People are creating thousands of commissions every day.
You don't need miilions of visitors to make money. You need 1000 true fans who trust you.
It is easy to get a piece of the pie in this massive industry.
Patience and consistency play a massive part in any online business. An average affiliate marketer $30,000 - $1.5M per year.
Alright, I bet you get a clear idea about affiliate marketing.