Nowadays Blog monetization, especially via affiliate marketing has never been hotter. There are almost 4 billion people online search for something, finding solutions to their problems and buying stuff at all time. That would be your customer. A Forrester Consulting study examined U.S. affiliate marketing spend and predicted that total affiliate marketing spend will grow 10.1% each year until 2020. Total affiliate spend in 2017 is predicted to be $5.3B. By 2020, that spend may rise to $6.8B. It’s everybody dream to earn passive income online and want a slide of it.
However, if you’re new to the game, you may not know where to begin. This is especially true if you’re only recently getting serious about your online business.
In this post, I am going to set the record straight and truly simplify things for you and help you comprehend the affiliate marketing space in the most concise way possible.
Just bear with me for the next couple of minutes, you are not only going to understand the affiliate marketing concept, you are going to be well versed and ready to use my article as a “springboard” to your affiliate marketing career.
Pretty cool, let’s get started!
The Affiliate Marketing Process, in a Nutshell
Affiliate marketing is the process of earning a commission by promoting other people’s (or company’s) products.
You find a product you like, promote it to others, and earn a piece of the profit for each sale that you make.
- You’re happy because you earned a commission,
- The company is happy because they have a new sale from a customer that they might not have normally been able to reach,
- And the customer is happy because they learned about a product from you that will hopefully fulfill a need or desire.
“THE BEAUTY OF AFFILIATE MARKETING IS THAT YOU WON’T HAVE TO INVEST THE TIME AND EFFORT TO CREATE A PRODUCT TO SELL. YOU CAN BEGIN SELLING SOMETHING AS AN AFFILIATE AS SOON AS YOU HAVE A PLATFORM TO SELL IT ON.”
For example, you (The Affiliate) join an affiliate program that gives you the ability to promote a subset of products/services. The Merchant then will provide you a special and unique “affiliate link” for placement in your Website, Social Media Account or attach to your Email and for tracking purpose as well.
If someone (The Customer) who make a purchase through your affiliate link, you earn a flat sale or percentage commission. These typically range from 1% – 75%, depending on the company or product/service.
Let’s say, you (the Affiliate) being an Awin affiliate, you can promote over 500 million product (it’s the amazing sheer size of opportunity). If you drive somebody to Awin through your affiliate link and they purchase something says a Branded Sports Shoe you’re promoting cost $200 and you earn 5% commission for that. You get paid $10.
Some more scenarios……
What about if 10 people bought the same item per day, you will be earning $100 per day. And if they other things as well, you will be earning more.
What is about you were promoting a more expensive item on Awin that cost $1,000 and paid $50 in commissions with every sale? If you sold 10 of those, you would be earning $500 in commissions every day. That is the reality of affiliate marketing and this is just one very tiny example.
So now that you know how the affiliate marketing process work, let’s look at a little chart breaking down the process
What is Affiliate Network
When you googled for an affiliate program, you can get millions of affiliate program that you can become an Affiliate. It’s a tedious work to choose which company or brand to promote and also difficult to track every of your sale and payment records.
Hence, Affiliate Network emerged to acts as an intermediary between the Publishers (affiliate) and the Advertiser (merchant affiliate programs). It allows the publishers to more easily find and participate in affiliate programs which are suitable for their website (and thus generate income from those programs), and allows the advertisers offering affiliate programs (typically online merchants ) to reach a larger audience by promoting their affiliate programs to all the publishers participating in the affiliate network.
There are 100’s of affiliate networks out there, with 100,000’s of companies and brands within their networks. Joining an affiliate network can save you a lot of time and is a lot less management works as an affiliate (to manage all of your passwords, links, payments, etc).
Instead of having to join 1,000’s of programs independently, you can join one affiliate network like Awin or Rakuten and promote 1,000’s of products under one management area and get paid through a single payment for all of them.
Some of the most popular affiliate networks in the world are:
- Amazon Affiliates: A lower-paying option, but one that’s perfect for high-volume affiliates.
- eBay Partner Network: A high-commission program with plenty of product categories to promote.
- Clickbank: A digital information products program, with varying commission rates.
- ShareASale: A merchant-based program, which enables you to selectively choose who you work with.
- Awin.com – Operated at 17 locations worldwide with 17,000+ Advertisers and 100,000+ Affiliate.
- Rakuten Marketing – Awarded The #1 Affiliate Marketing Network for consecutive 7 years.
- Avangate – A Software products program, with varying commission rates.
Who Can Become an Affiliate and How Does an Affiliate Program Works
Generally speaking, everyone can join an affiliate program and it’s completely free and as an affiliate, you can promote pretty much every brand/product/service you can image and earn a commission for doing so. Basically, there are 550,000,000 products that you can promote.
In some cases, the Advertiser will screen an affiliate’s application based on their criteria before approving it.
In fact, an affiliate program is, in essence, a piece of automated tracking software that track all clicks, all sales transactions, and calculate all commissions. As such, Affiliate has a great deal of control and can track their campaign and conversion quite easily.
Here is an example of what an affiliate program stats look like, these are the stats from an affiliate program I am affiliated to.
All affiliate programs/networks pay differently. They all have different pay schedules and minimum threshold to meet before a payment is made. Typically, an affiliate company will offer multiple forms of payment such as PayPal, Bank Wire Transfer, Payoneer, Cheque Payment and Cryptocurrency.
Affiliate programs typically offer promotional materials such as banners, widgets, or even plugins that you (the affiliate) can leverage on your website or social platforms. The more comprehensive the affiliate program is, the better-equipped affiliates are to promote that given product/service, so it is advantageous for a company to offer a high-quality experience for their affiliates.
Where Do You Go to Start an Affiliate Marketing Business?
The luxury being in Affiliate marketing space is that you don’t have to create a product or service, there is no customer services, there is no dealing with payment. It all has been taken care of typically by the Company that you’re promoting or recommending.
But you don’t know where to get started within the affiliate marketing world or lacking the knowledge. It is tough these days with the influx of programs and education that are claiming to be best. The problem with many of the services out there is the fact that they are not actually even “affiliate marketing”. This is especially true when it comes to anything internet based because there’s just so much information out there and a lot of it is crap!
Getting the right affiliate marketing training is essential to your success. That’s why I feel so strongly about what I write about on this blog. I want to empower you with the skills that enable you to make a change in your life. Skills that you can use in any industry to sell products and generate an income for yourself.
There is an elite platform in the affiliate marketing space, which I happen to be a Premium Member (and that I can coach you within) called Wealthy Affiliate. This is the one platform that you must have if you plan on learning via but also if you want an environment where you can get all the tools, websites, hosting, training, coaching and interact support to create and grow a business within the affiliate marketing world. I’ve written a lengthy review about the Wealthy Affiliate program and you can check them out here.
The best way to learn affiliate marketing, hand down, is to implement the information while you train. Learning and implementing hand-in-hand exposes you to the knowledge you require and empowers you with the practical skills as you implement the training immediately.
The platform also has its own affiliate program which enable you to earn while you’re learning.
Basically, there are two type of memberships within Wealthy Affiliate, a completely free Starter membership (free to try) and a cost-efficient, more advanced Premium option (as low as $29 per month).
I recommend that you get rolling on the Free Starter membership, as I don’t want you to spend a single cent before you tried the program first.
Within the first few lessons, you are going to have your own affiliate coach, chosen a direction for your business, your own Free Affiliate Website (with Hosting), and access to training that will truly take you from a beginner to become an Affiliate Marketing Expert.
Fortunately, affiliate programs make it easy even for beginners to monetize their blogs. In short, affiliate programs are set up to promote sales for a business, typically through the affiliate’s blog or review site. When an affiliate marketer links to the business on their site and a sale is made through that link, both the business and the marketer make money. A win-win situation.
Having the right training and support truly makes all the difference, especially when first getting started online.
Here is some tips for Affiliate Marketing (By Pat Flynn – Creator of SmartPassiveIncome.com)
1. Be extremely confident in your recommendation.
If possible, use or do a thorough research on the product before you recommend them to your audience.
2. Be honest and open with your audience that you’re sharing an affiliate link.
Let them know you will earn a commission and its will not cost them more if they use your affiliate link.
3. Treat the product you’re promoting as if it was your own.
Unbox that product, show the insides of it (using images or screen capture software). People like to see what they’re going to buy before they buy it. Offer to answer any questions and be there to help if they need it.
4. Find your key product
My number one earning affiliate product is for affiliate marketing called Wealthy Affiliate. It’s one that I’ve used, still use, and am confident in my recommendation for those just want to learn Affiliate Marketing
5. Create a landing page.
My landing page is the most profitable page on my blog, and all the sales on that page, which are primarily through an affiliate products, are completely passive.
6. Helpful affiliate marketing tool
1. PrettyLink: This WordPress plugin allows you to turn those long, ugly affiliate links into a nicer looking, easy to remember and share “pretty link.” This tool also helps you keep track of the number of clicks for each link you create, and it allows you to update those links that people redirect to, without having to go in and change every single instance of that link on your website.
2. ClickMagick is the next-generation funnel tracking and marketing optimization
platform that helps you generate more leads, conversions and revenues
from the same traffic you’re already getting. Get A 14-Day Free Trial
7. Cross-pollinate your affiliate links.
In other words, don’t be afraid to mention or share your recommendations more than once, and in different ways. For example, you may create a blog post showing the insides of a particular product (where you’d include your a liate link), and you could also create a “Top 5 Tools You Use” post, which includes the same product in it as well.
8. Offer bonuses alongside your recommendations.
A great way to stand out and make sure people use your affiliate link by offer bonus such discount coupons.
9. Build relationships with the product owners.
Before or after you become an affiliate for a product, reach out to that product owner and start a conversation with them. Over time, that relationship can become mutually beneficial.
10. Think openly about what kinds of products or programs you could become an affiliate for.
There are all kinds of products you can promote as an affiliate. But remember to promote or recommend those products that helps or solve user problems in some ways and earn trust from there on.
I hope you’ve learn something about affiliate marketing, please feel free to leave a comment below if you have any questions, I will get back to you soonest possible:)