What is affiliate marketing? This is a process of promoting the business of a merchant digitally (meaning that the marketing may happen on social media, in a website or through email marketing) with the intention of generating sales or leads for the merchant and the sharing formula for the profit from the sales is agreed on.
Let’s explain further, A Company which is into the production and sales of office equipment can contract an affiliate to help her promote their products online. The affiliate marketer and merchant will now agree on the terms relating to the profit sharing from the sales. Each product the affiliate sales, the merchant will pay a percentage of the profit to the affiliate. It is now the responsibility of the affiliate to work hard to promote and generate sales for the company while the merchant can help by giving advice. Companies now leveraging on the efforts of the affiliates for sales. The profit is well tracked to be able to be accurate in payments.
Any company can employ the service of affiliates even if the company renders only services and not sales of products.
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This business has basically three elements that makes it happen.
The merchant: This is the owner of the business who wants brand awareness and revenue from the business and contracted the service of the affiliates.
The affiliate marketer: This is the person who moves on with brand promotion on behalf of the owner. He promotes the brand and gets percentage of the profit in return
The consumers: These are the persons targeted to buy or purchase the service being promoted. The target audience from whom the revenue is generated from after they make purchases.
There are basically three channels for the promotion in affiliate marketing.
Social media marketing: Social media marketing is process of promoting business brands on social platforms like Facebook, Instagram, LinkedIn, X (Formerly Twitter), etc., in order to maximize sales or revenue. Affiliate marketer uses this platform to create awareness for the brand.
Search engine: Since affiliate marketing is all about creating awareness, the affiliate makes sure that the top of the marketing funnel is full by leveraging on search engine. Search engine optimization becomes the way to go. The affiliate ensures that the webpage of his promotion ranks high in Google search engine result pages.
Email marketing: Email marketing is a process by which emails are sent to market or promote goods and services. It is a way of creating brand awareness which is cost effective. Companies and affiliates use email marketing in their day-to-day business to communicate to create awareness for brands.
How much does affiliate marketer earns?
An affiliate marketer who has many followers, earning between 5% to 20 % commission from every sale can earn up the $55,000 a month. This also depends on the cost of the product the affiliate is marketing. %5 of a product with cost $2,000 is $100. If the product costs $1,000 the 5% percent of it becomes $50. The earnings varies and the more the followers, the more the income. The key is to have enough traffic coming to your website and trying to concert these traffics to paying customer.
How can I start affiliate marketing?
Pick a niche: this is important because you are to use a niche that will earn you more traffic into your website. What are people looking for everyday? Get a niche that connects to that search volume.
A blog site: This is important in affiliate marketing. You are to build a blog website where you create original and quality contents. These contents would have a lot to do with your chosen niche. Most affiliate program platforms like Amazon would want you to have original and unique contents as a requirement to approve your application for affiliate marketing.
Research and join affiliate program: You are to look for affiliate programs that has connection with your chosen niche. Look well about the requirements for joining the affiliate program. Check if you meet the legal and other requirement before applying.
Integration: Your affiliate links have to be fully integrated and in full harmony with the content. This is where you are to apply your copywriting skills. The content should be winning and engaging in a way to luring your audience towards buying the products or subscribing to the service.
Content optimization: Most times you may not have to worry yourself creating new content for the products or the service you are promoting. You can go optimizing the already built contents to have good ranking in SERPs. Your awareness creation and psychological luring of your audience to buy makes you a good affiliate marketer.
Monitor the performance of your campaign and success using appropriate analytical systems. It is good to know your progress. This will help you to know if you are performing well or not. It will help you to device other means to achieve your goals and by doing so, you gain more experience.
Every affiliate marketer knows search engine optimization, email marketing strategy and social media strategy. These are the skills you need to do well as am affiliate.
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Mode of payment for affiliate marketing
There are various modes of payment in affiliate marketing. It depends on the kind of product you are promoting.
If you are using the affiliate link to generate sales, you are paid commission for the number of items sold. As I said earlier, the commission is determined by the business owner affiliate program which is most time between 5 to 20 percent. This percentage motivates the affiliates to work towards converting many to purchase. This mode of payment is called PAY-PAR-SALE.
Another way an affiliate is paid is through PAY-PER-CLICK. In this way, using the affiliate links provided in the affiliate program, any click on this link is paid for. It does not matter if the user bought something or provided personal information for tracking or follow up. This is a case where diving traffic to the site is so important. The more traffic you drive to the site and the more these traffics are making clicks on the affiliate program links, the more your pay. Most times you click on links in the blogger`s site. These clicking is generating income to the blogger and the company that owns the affiliate program.
Next, there is PAY-PER-INSTALL. In this case, the affiliate is paid for driving users or the traffics to install a particular software provided by the affiliate system. Downloads and installation mean a lot in this mode of payment. As a result of this, the affiliate is doing so much work in creating awareness for the software and receives payment for each installation. You have visited a site owned by a blogger, downloaded and installed a software from the site. This software does not belong to the blogger but from the affiliate program running in the blogger`s site.
Two-Tier affiliate marketing is another way an affiliate promotes products and services through referral system. The affiliate gets paid in commission for the chains of referrals he ignited by posting the affiliate referral link.
In the case of email marketing affiliate, the affiliate promotes products and services through emails. Email campaign is cost effective or let me say it is free. You only have to build your email lists which does not come that easy. Email list building in treated in email marketing strategy. By using email list building strategy, you grow your email list which you can use for email marketing.
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Do I need to pay to become affiliate marketer?
In affiliate marketing, there is nothing like payment to join. You only have to meet the requirements of the affiliate program to be part of it. The requirements on how you can start affiliate marketing is listed above for your information.
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