HOW AFFILIATE MARKETING WORKS
Before I go to how affiliate marketing works, let’s discuss AFFILIATE MARKETING under the following sub-topics for better understanding.
1) HISTORY OF AFFILIATE MARKETING
2) WHAT IS AFFILIATE MARKETING
3) TOP-RATED AFFILIATE MARKETING PLATFORMS
4) HOW TO BECOME AFFILIATE MARKETER
5) HOW AFFILIATE MARKETING WORKS.
Let’s start discussing these sub-topics one after the other.
1) HISTORY OF AFFILIATE MARKETING
It is no news that the world is evolving fast. The internet and tech are taking over, and most business ventures are doing everything possible to grab their space and lay a good foundation online.
So many e-commerce websites and businesses became more popular after the emergence of covid19 due to the lockdown laws.
Lately, most people have become comfortable shopping online, creating more opportunities for online business ventures.
Brands and businesses go as far as paying heavily for ads and influencing. They do all this for visibility and to gain the trust of prospects and customers.
Marketing is a tool for any business and can be traced as far back as man-kind with upgrades here and there.
Affiliate marketing is a popular marketing tool. It is a common phrase. Some people understand it, and others do not.
2) WHAT EXACTLY IS AFFILIATE MARKETING?
I would explain affiliate marketing with a simple story of my friend’s mother.
While growing up in the village, my friend’s mother had a thing for selling. She was uneducated but, at the same time, wanted to make ends meet. She never liked being a full-time housewife with little or nothing to help herself and her children.
On a few occasions when she could lay her hands on farm produce, she went to the market to sell them. One day she had an idea.
Since people trusted her and would always want to buy things from her because of her personality and honest reputation, she decided to take advantage of that fact.
My friend’s mum decided she would go closer to the farmers since she didn’t have money to purchase goods. She decided to strike a deal with the owners of the goods.
The farmers would give her some of their goods on credit while she was to take the goods to the market, add some amount to the initial prices and sell.
After making sales for the day, she takes the extra profit she made and returns the big chunk of money to her partners. She did this for a while and saved enough money.
She later started purchasing goods directly and selling on her terms.
In a nutshell, this story summarizes what affiliate marketing is.
The practice of affiliate marketing is also common everywhere. So many big shop owners you see today started like that, they advertise and sell goods of other sellers, make money and improve themselves.
Affiliate marketing means you endorse or suggest products to people who need them. You may not have a product to sell or a service to render, but you have a website, blog, page, social network, or community that can drive traffic. Rather than simply using it for fun and entertainment, you can direct people or traffic from your page to the site, store, or page of a retailer. When these people you refer make a purchase, you get commissions.
On most occasions, the affiliate marketing platform or program you register with, traces the traffic, or people you send to the retailer’s site using links.
Whenever a sale is initiated using your link, you earn a percentage also known as an affiliate sales commission.
3) TOP-RATED AFFILIATE MARKETING PLATFORMS
There are so many affiliate marketing platforms and programs in the world. But will be focusing on the top-rated legit programs.
1. Jumia affiliate program
2. Konga affiliate program
3. Payporte affiliate program
4. Expertnaire affiliate marketing program
5. Wakanow affiliate program
6. Travelstart affiliate program
7. MTN affiliate program
8. Bluehost affiliate program
9. Amazon affiliate program
10. Clickfunnels affiliate marketing program.
There are lots more, and most of these programs and platforms have their terms and conditions, advantages, and disadvantages.
4) HOW TO BECOME AFFILIATE MARKETER
1. The first thing you can do when you decide to do affiliate marketing is to pick a niche. The online market is a big one. One good move would be you deciding to refer products or services in a particular industry.
It is faster to build the trust of your audience doing that. Niches can range from real estate companies, health and fitness products and services, software and tech, crypto, and travel agencies, etc. It is left for you to decide on the particular niche you want.
2. Secondly, you join top affiliate marketing programs or platforms. You can join any of the listed ones or search for other.
There are necessary registration steps you need to take before you can start promoting products or services for a company.
3. Thirdly set up your marketing platforms. It applies to you if you do not have one. It could be a channel or page. Whatever platform you are comfortable with.
4. Next, you can begin to market yourself, make your platform exciting. Deliberately drop important and value-adding content to increase your traffic. It will help you build your audience and increase traffic to your channel, network, or page.
5. Target your market. For example, if you want to promote health-related products or services, you can build your audience using content related to health. It could be educational or entertaining content, but it should center on your niche for the right audience to visit or follow your platform.
6. Finally, you can begin to promote the product of other retailers using your channel page blog, etc.
One misconception people have about affiliate marketing is that they think you must own a website or blog to participate, but that is not the case. Yes, it works better and faster when you have good traffic visiting your website, blog, or page. But you can start from somewhere using social media channels like Instagram, Facebook, and YouTube to promote your affiliate links.
It may shock you to know that many people with an online presence are taking advantage of affiliate marketing programs and are making good money from it.
5) HOW AFFILIATE MARKETING WORKS
Interested in how some of the biggest social media influencers, bloggers, and streamers make money online but not sure how affiliate marketing works? You’re in the right place.
Affiliate marketing isn’t too complicated if you look at it from its basic premise:
– A company has a product or service
– A person partners with the company
– Sales generate income for both parties
It’s no different than recommending your favorite restaurant or a cool website. Except, if that person decides to visit and spend money then you get a kick-back (commission).
When you’re able to create an audience drawn by your passion for your niche or topic you’ll provide a helpful, referral service. Affiliating yourself with respectable brands provides a reward for your hard work and passion.
Affiliate marketing is promoting other people’s products in exchange for a commission
Affiliate programs and networks offer different types of product, services, and promotions
Affiliate campaigns are created and paired with relevant content to improve awareness and sales
Affiliate managers work with you to improve conversions (sales) and to adhere to guidelines
There are 4 main parts of affiliate marketing:
1) The Merchant – The company that’s providing a product or service
2) The Affiliate – The person doing the promotion
3) The Program – The arrangement affiliates make with the merchant (and vice versa)
4) The Network – The collection of programs with unique tools for tracking and promotion
Joining an affiliate program is free (never pay to join!) since you’re trading your time and reach to an audience in exchange for a commission. The commission rates depend on the program with many often being 5-10% of the total sale with others upward of 75%+!
Within the affiliate networks and programs, you’ll discover and qualify offers based on performance and how well they match with your audience.
These links do not increase the total price of what’s being promoted.
The links will continue to generate a passive income for the longevity of the program, offer demand, and if your content remains visible to your community.
You can take a proactive approach to affiliate marketing by doing campaigns.
This flips the process into being active meaning you’re out there promoting affiliate products in real-time whether that’s sending recommendations to your social media followers, email list, or linking directly to the offer when someone asks for a suggestion.
Basically:
If there’s a need for a product and you find a good offer, then you’ll earn a percentage of the sale. The person is happy to get a helpful product – you get a cut – and the company makes a profit without the additional work of sales and marketing.
Affiliate Marketing is sweet
Yes!
But it’s no child’s play
If you have not yet understood how the system works then don’t be deceived by anyone to just jump into it
All in the name of I want to be cashing out on Friday
Yes! It’s a good vibe and I love it
But for every wise investment you make, ensure you do this:
1) Make a good research about what you want to start
2) Follow someone that will truly guide you and give you not one who will promise you heaven and earth then leave you in the trenches
3) Never rush into any business just because of the money you will make
4) Don’t jump into people that just want to give you discount because some of them are after the money they will make through you (this applies to all businesses)
My advice once again is settle down and understand whatever business you want to get started with.
SEE ALSO : CRYPTOCURRENCIES TO INVEST IN OR BUY IN APRIL 2022
There are a lot of opportunities online to make money. Affiliate marketing happens to be one of the legit ones. What are you going to do with this information? Would you take advantage and begin the process or look away.
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