Want to learn a new digital skill? Well affiliate Marketing is one of the hot niches you can think of. The good thing about affiliate marketing is that you don’t have to stress yourself much because you don’t have any products neither do you go to shop every morning. With this introduction to affiliate marketing, All you have to do is sit at home and recommend a product to some people. If they like it and purchase it, you will get a commission.
Now that I have given you a brief introduction to Affiliate marketing, let’s define Affiliate Marketing.
What is Affiliate Marketing?
Affiliate marketing is defined as the act or process of promoting a product or services and get a commission for each successful purchase.
Theses products/services are mainly owned by a company, retailers or advertisers who wants to increase their sales. These companies are hungry for sales, and as an Affiliate Marketer, its your work to bring these sales to them, then get paid a certain commission per each sales.
Affiliate marketing is a means of monetization to various platforms which includes blogging. Yes, blogging. Bloggers make a fortune through affiliate marketing. But you must not be a blogger. You can be an independent Affiliate marketer.
The main goal of Affiliate marketing is to land sales. but some companies can pay you for leads, that is: the number of clicks to a website or number of people you were able to get to download their app.
Are Affiliate programs free?
Yes, Affiliate programs are mostly free to join. So you don’t need to worry about Capital.
From a common sense, you want to help a company get more sales, why will you pay them? They are the ones to pay you and that is what you get as commission.
Anybody can join any affiliate program for free. Once you are able to get people to buy a specific product you recommend.
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Affiliate marketing can grow from a side hustle to a big business once you know what you are doing.
Who is an Affiliate marketer?
An affiliate Marketer is nobody else than a person that promotes other peoples products/services in exchange for commission.
The good news is that anybody can become an affiliate marketer. All you need to do is to find the right affiliate program to engage in. Once you meet their minimum requirement, you are set to go.
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The main thing in affiliate marketing is to know how to convince people to buy a product or services. Once you are able to convince people that a particular product or services is right for them, you will progress in affiliate marketing. You will be paid each time someone converts with your affiliate link.
Is affiliate marketing worth it?
Without doubt, Affiliate marketing is definitely worth it. With its recent growth in popularity, statistics has shown that affiliate marketing industry will reach $8.2 billion by 2022, it has grown to $7.4 billion in 2020.
It is also one of the (if not the only) low to no cost business you can venture into and profit immensely.
Benefits of Affiliate Marketing
It’s easy to execute
Your own work is to make sure you land a sales for a company. You don’t have to worry about the hard things like, production, developing, stocking, or fulfilling the offer. Your own work is just to sell and get profit from your house. You don’t even need to buy the product like most retailers do.
It’s low risk
Since there is no cost of joining the affiliate program. There is noting to risk except for your time. You can take advantage of how to make money from affiliate marketing and start it up without any cost or upfront investment.
Affiliate marketing can get you passive income, but you need to invest your time into getting a traffic source.
It’s easy to scale
Those who are already successful in affiliate marketing can add a new product to their already existing products and still do well in it. Your existing work and new work will continue to generate steady income.
Before you start jumping up, you should understand that affiliate marketing is built on trust. Before looking for all the products in the world to promote, it is advised you start from the products you use and recommend.
Even when you want to promote a product you like, becoming a great marketer takes a lot of work.
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How does affiliate marketing work?
Affiliate marketing is brought to life when someone (who is an affiliate) refers a product or service by sharing/publishing it on a blog, social meda platform, podcast, or website. a commission is awarded to the affiliate each time someone makes a purchase through their unique link associated with their recommendation.
Breaking it down:
You as an affiliate, displays an ad or a link for a particular store, lets call it Store X, on your website, blog, or social media platform.
Then a customer clicks your unique link.
The customer buys something in Store X.
The affiliate network will records the transaction.
When the purchase is confirmed by Store X.
You get paid a certain commission.
The rate given as commission vary. And this is dependent on the company and the offer. On the very low end, you’ll earn about 5% of the sale but, sometimes, you can also earn as much as 50%, this is common in cases where you promote a class or event. There are also affiliate marketing programs that provide a fixed price per sale instead of a percentage.