How to Get Started With Affiliate Marketing in 2020
Getting out of bed at an unfavorable hour, driving to the office through total gridlock, streets jammed with other half-asleep commuters. Grind through email after mind-numbing email until the sweet release at five o’clock.
Does it sound terrible?
What if instead of dealing with the boredom and daze of the rat race to earn a few bucks, you could make money at any time, from anywhere — even while you sleep?
That’s the simple concept behind affiliate marketing.
Generally, affiliate marketing is said to be a popular tactic to drive great sales and generate significant online revenue. It is extremely beneficial to both brands and affiliate marketers.
What Is Affiliate Marketing?
It is said to be the process by which an affiliate earns a commission for marketing another person or company’s product/s.
The affiliate marketer simply searches for a product they enjoy, then promotes that product and earns a piece of the profit from each sale the owner or company makes. All sales are tracked via affiliate links from one website to another.
How Does Affiliate Marketing Work?
Affiliate marketing works by spreading the responsibilities of each product marketing and creation across parties. It manages to leverage the abilities of a variety of individuals for a more effective marketing strategy while providing affiliates (participants) with a share of the profit.
If you want to make this work, three different parties must be involved:
- First is the seller and product creators.
- Second is the affiliate or advertiser.
- Third is the consumer.
Now let’s dive into the complex relationship these three parties share to ensure affiliate marketing results in success.
1. Seller and product creators.
The stockist, whether a solo entrepreneur or a large enterprise, is a vendor, merchant, product creator, or retailer with a product to market/sell.
The product can be a physical object, like household goods, or virtual service, like tutorials.
The seller is also known as the brand, the seller does not need to be actively involved in all the marketing process but they may also be the advertiser and gain from the revenue sharing associated with affiliate marketing.
For example, the seller could be an e-commerce broker that started a dropshipping business and wants to reach a new global audience by paying affiliate websites to promote their products. Or if the seller is a SaaS company that leverages affiliates to help sell their marketing software.
2. The affiliate or publisher.
The said affiliate can be either an individual or a company that markets the seller’s product in an appealing way to potential consumers.
In short, the affiliate promotes the product to persuade consumers that it is valuable or beneficial to them and convince them to purchase the product.
If hopefully, the consumer does end up buying the product, the affiliate receives a portion of the revenue made. (“SaaS” stands for Software as a Service)
Affiliate marketers often have a very specific audience to whom they market, generally adhering to that audience’s interests.
This certainly creates a defined niche or personal brand that helps the affiliate attract consumers who will be most likely to act on the promotion.
3. The consumer.
If the consumer knows it or not, they (and their purchases) are the core drivers of affiliate marketing. Affiliate marketers share these products with them on social media, blogs, and websites and every possible medium.
When a consumer buys a product, the seller and the affiliate marketer share the profits. and sometimes the affiliate will choose to be upfront with the consumer by disclosing that they are receiving commission for the sales they make.
And some times the consumer may be completely oblivious to the affiliate marketing infrastructure behind their purchase.
Either way it goes, they will rarely pay more for the product purchased through affiliate marketing; the affiliate marketer’s share of the profit is included in the retail price.
in most cases the consumer then completes the purchase process and receive the product as normal, unaffected by the affiliate marketing system in which they are a significant part.
How Do Affiliate Marketers Get Paid?
A very quick and less expensive method of making money without the hot hassle of actually selling a product, affiliate marketing has an undeniable draw for those looking to increase their income online. But in reality, how does an affiliate get paid after linking the seller to the consumer?
Pay attention as the answer can get complicated.
Because the consumer doesn’t always need to buy the product for the affiliate to get a kickback. Based on the program, the affiliate’s contribution to the seller’s sales will be measured differently.
The affiliate’s payment may be measured in various ways below:
1. Pay per sale.
Pay per sale is the standard affiliate marketing structure. In this type of program, the merchant pays the affiliate marketer a percentage of the sale price of the product after the consumer purchases the product as a result of the affiliate’s marketing strategies.
Moreover, the affiliate must actually get the investor to invest in the product before they are compensated.
2. Pay per lead.
Here’s a more complex system, pay per lead affiliate programs compensates the affiliate based on the conversion of leads. Here, the affiliate must persuade the consumer to visit the merchant’s website and complete the desired action .
Whether it is filling out a contact/feedback form, signing up for a trial of a product, subscribing to a newsletter, or downloading software or files.
3. Pay per click.
This certain program focuses on incentivizing the affiliate to redirect consumers from their marketing platform to the merchant’s website. This simply means the affiliate must engage the consumer to the extent that they will move from the affiliate’s site to the merchant’s site. At this point, the affiliate is paid based on the increase in web traffic.
A popular example of this is “Adsense“
Why Be an Affiliate Marketer?
What are some reasons you might want to consider to become an affiliate marketer?
1. Passive income.
While a “regular” job requires you to be at work to make money, affiliate marketing offers you the flexibility and ability to make money anywhere you are (even while you sleep).
By investing an amount of time into a campaign, you will see continuous returns on that effort as consumers purchase the product over the following days and weeks. You will receive money for your work long after you’ve finished it.
Even when you’re not in front of your computer, your marketing skills will be earning you a steady flow of income for a long time.
2. No customer support.
All Individual sellers and companies offering products or services have to deal with their consumers and ensure they are very satisfied with what they have purchased.
And thanks to the affiliate marketing structure, you’ll never have to be concerned with customer support or customer satisfaction. The entire job of an affiliate marketer is to link the seller with the consumer. This makes the seller/company deals with any consumer complaints after you receive your commission from the sale.
3. You can Work from home.
If probably you’re someone who hates going to the office, then affiliate marketing is the perfect solution for you. You will be able to launch campaigns and receive revenue from the products that sellers create while working from the comfort of your own home. This is something you can do without ever getting out of your pajamas.
Some businesses require startup fees as well as a cash flow to finance the products being sold. But, affiliate marketing can be done at a very low cost, meaning you can get started quickly and without much hassle. There are little or no affiliate program fees to worry about and no need to create a product. Venturing into this program is relatively straightforward.
5. Performance-Based rewards.
With most office jobs, you could work an 80+ hour week and still earn the same salary. However, affiliate marketing is purely based on your performance. What you get will depend on what you put into it. Making good use of your reviewing skills and writing engaging campaigns will translate to direct improvements in your revenue. You will surely get paid for the outstanding work you do!
6. Do Not Underestimate the Power of SEO.
There are tons of organic traffic you can get from search engines if you do SEO properly. Back in the days when Search Engine Optimization was about cheating Google are gone. Right where we are today, it is more about making your website better for visitors. Lots of people naturally look for information online.
This is the reason why you should learn the basics of on-page SEO, keyword research and link building to be the information source they find first. Who wouldn’t be happy to rank #1 for terms such as “best product” or “product review” in Google or another search engine?
Common Types of Affiliate Marketing Channels
Many affiliates share common practices to ensure that their audience is engaged and receptive to purchasing promoted products. But not all affiliate marketers advertise the products in the same way. In fact, there are many different marketing channels they may leverage.
As defined, an influencer is an individual or person who holds the power to impact the purchasing decisions of a large segment of the population. A person who is in a great position to benefit from affiliate marketing.
Influencers boast an impressive fan base, so that makes it easy for them to direct consumers to the seller’s products through social media posts, blogs, and other interactions with their followers and Influencers then receive a share of the profits they helped to create as i mentioned before.
With the exceptional ability to rank organically in search engine queries, bloggers excel at increasing any seller’s conversions.
A blogger checks out the product or service and then writes a comprehensive review that exclusively promotes the brand in a compelling way, driving traffic back to the seller’s site.
The said blogger is awarded for his or her influence. Spreading the word about the value of the product, and helping to improve the seller’s sales.
3. Paid search focused microsites.
Working on developing and monetizing microsites can also bring about a serious amount of sales. Because these sites are advertised within a partner site or on the sponsored listings of a search engine. They are so distinct and separate from the organization’s main site.
And by offering more focused, relevant content to a specific audience, microsites lead to increased conversions due to their simple and straightforward call to action/s.
4. Email lists.
Despite the older origin of email marketing, it is still a valuable and viable source of affiliate marketing income. Some affiliates marketers have email lists they can use to promote the seller’s products. Others can use and leverage email newsletters that include hyperlinks to products, earning a commission after the consumer purchases the product.
Another good method is for the affiliate marketer to build an email list over time. Unsing their various campaigns to collect emails en masse, then send out emails regarding any products they are promoting.
5. Large media websites.
This platforms are designed to create a huge amount of traffic at all times, these sites focus on building an audience in millions. Media websites promote products to their massive audience through the use of banners and contextual affiliate links.
This specific method offers superior exposure and improves conversion rates, resulting in a top-notch revenue for both the seller and the affiliate.
Six Tips to Help You Become A Successful Affiliate Marketer
1. Develop a good rapport.
When starting your affiliate marketing career, you will want to cultivate an audience that has very specific interests. This will allows you to tailor your affiliate marketing campaigns to that niche, increasing the chances that you’ll convert.
When you establish yourself as an expert in one area instead of promoting a large array of products, you will be able to market to the people most interested people who are likely to buy the product.
2. Make it personal.
There is no limit to the products you’ll be able to promote. You will have the ability to pick and choose products that you personally believe in.
You will need to make sure that your campaigns center around truly valuable. Products that consumers will enjoy because you’ll achieve an impressive conversion rate while establishing the reliability of your personal brand.
On the long run, you will also want to get really good at email outreach to work with other bloggers and influencers.
You can use a tool like ContactOut or Voila Norbert to gather people’s contact information and send personalized emails to work on guest blogging and affiliate opportunities. But mind you, try as much as possible to bel less spammy!
3. Start reviewing products and services.
You will have to focus on reviewing products and services that fall within your niche. From there you can start leveraging the rapport you have created with your audience and your knowledge as an expert, explain to your readers why they would benefit from purchasing the product or service you are promoting.
Today, almost all things sold online can be reviewed if there is an affiliate program attached so you can review physical products, software, or even services booked online, like travel resort booking.
This is specifically effective to compare this product to others in the same category. And most importantly, make sure you are generating detailed, articulate content to improve and get more conversions.
4. Use several sources.
Instead of just focusing on email campaigns, try to spend some time making money with a blog as well, reach out to your audience on social media, and even looking into many more cross-channel promotion options.
You should test a variety of marketing strategies to see which one your audience will respond to the most and make frequent use of this technique.
5. Choose your campaigns with care.
No matter how good you think your marketing skills are if you choose a bad product, you will definitely make less money. Take time to study the demand rate or percentage for a product before promoting it.
Make sure to also research the seller with care before teaming up. Your time is valuable, and you really want to be sure you’re spending that time on a product that is profitable and a seller you can rely on and believe in.
6. Stay up-to-date current with trends.
There is high competition in the affiliate marketing line. You will have to make sure you stay on top of any new trends to ensure you remain competitive. Also, you will likely be able to benefit from at least a few of the new marketing techniques that are constantly being created.
The most important point is to be sure you’re keeping up to date on all these new strategies, updates to guarantee that your conversion rates, and therefore revenue, will be as high as possible.
Affiliate marketing is a real-time ideal solution for those who are looking to gain control of their own income or financial stability by focusing on performance-based revenue options.
Working in cooperation with a seller, a motivated and goal-driven affiliate marketer will be able to achieve a passive income from the comfort of their home without worrying about producing their own product or service.
Even though the success of the job also depends on the affiliate’s skills, it has also been proven to be an effective way to meet your income goals as either a primary career or a profitable second job.
With a very straightforward process, affiliate marketing via reviews, blogs, social media, webinar software, and other platforms is a new frontier in marketing that is simply waiting to be utilized the right way.
If you are able to follow the tips included in this article, you will be able to engage your potential audience, convert passive readers/visitors into active consumers, and enhance your paycheck in a very short period of time.