Affiliate marketing has made business millions and ordinary people millionaires – Robert Foster Bennett
One of the most popular ways to earn money online is through affiliate marketing. Not only is this helping to increase the income of online activists, it is also helping to increase the company’s sales.
Affiliate marketing is a marketing strategy where the seller pays the blogger a portion of his profits when he sells a product or service to the customers using affiliate link. It is possible to achieve success by affiliate marketing with patience and time.
Different business organizations are increasing their expenditure in affiliate marketing to increase sales of their products.
Currently The size of the global affiliate market is currently over $12 billion. and Business Insider reports that the affiliate market has been growing at an annual rate of 10% since 2015.
This shows how much importance different organizations place on affiliate marketing. So let’s know the details about affiliate marketing.
What is Affiliate Marketing
According to Investopedia, Affiliate marketing is an advertising model in which a company compensates third-party publishers to generate traffic or leads to the company’s products and services. The third-party publishers are affiliates, and the commission fee incentivizes them to find ways to promote the company.
So it can be said that, when a person uses his blog or social media to sell other company’s products or services and earn commission, it is called affiliate marketing.
How Does the Affiliate Market Work?
Suppose you have a blog on digital marketing. Or you have an account or page on social media where you have a lot of followers. on the other hand, XYZ is an IT company.
Now you go to the website of that company, open an affiliate account and share that link on your blog or social media in accordance with the conditions given by them.
The company will display pictures of their products on your blog through the link. If users of your blog or social media followers enter that link and buy a product, you will get some commission according to the price of that product. It benefits both sides. You make some money and the company sells their products or services.
How Much Money Can an Affiliate Marketer Earn?
The income of a 9 am-5 pm office person is fixed but the income of an affiliate marketer is not fixed. If your blog has a lot of readers and if they believe your writing then you can earn good amount. For example top affiliate marketer Pat Flynn reported in his December 2017 earnings report, he earned $105,619.13.
Ryan Robinson earned $36,562.95 from affiliate marketing in July 2019. Blog Ambitious has earned $4556.69, Root & Revel earned $11328.6.
There is no doubt that the income of the affiliate marketer will increase. You can understand it when you see it.
An affiliate marketer makes money in a variety of ways
Pay per sale
This is most commonly seen in affiliate programs. All businesses focus more on sales because the more sales, the more profit.
This way you will get commission when you can sell. Commissions vary from company to company. Again, the commission varies from product to product.
Such as expensive products get higher commissions because it increases the seller’s profit margin. So affiliate marketers should choose expensive products.
Pay per click
Some companies stipulate that if a customer enters their website directly from your marketing platform, they will pay you.
So the job of marketers will be to motivate their readers to go to the company’s website by describing the benefits of the company’s products.
Pay per lead
This is actually a complex affiliate system. Company compensates the affiliate based on the conversion of leads. Your first task here is to take your readers to the company’s website.
Then your customers must do something according to the terms of the company. Such as – filling out the contact form, signing up for a product trial, subscribing to their site or downloading any software, etc.
How to Start Affiliate Marketing
There are 5 steps to start affiliate marketing:
- Create a blog / social media account
- Niche Selection
- Create quality content
- Join the affiliate program
- Encourage users access to affiliate links
Create a blog / social media account
First you need to create a blog or create an account on social media. But in my opinion blog is the best for affiliate marketing. Because most of the companies prefer blogs for affiliate marketing.
There is a reason behind this, most people search on Google before shopping. And Google search results give priority to blogs.
We can get a proof from Kenshoo research paper. According to the Kenshoo research paper, 85% of people search Google before shopping.
If you can optimize your blog and bring it to the first page of search engines, then your visitors will increase a lot and the sales volume will also increase.
This is a very important step. You success depends a lot on the niche you choose.
First you need to determine the type of product you want to work with. However, there are some things to keep in mind before choosing a product type. Such as the type of product you want to market, whether buyers are interested in purchasing that type of product, or whether that product has an affiliate program.
In this case, I would say that choosing a profitable and popular niche will be good for you.
Join the affiliate program
Before joining an affiliate marketing program, you need to know the amount of commission that an organization pays for an affiliate program. In this case you will choose the company that will give you more commission.
Here are some of the most popular:
Create quality content
Your writing must be unique and informative. And if you can create quality content, your page will get good ranking in search engines, as a result you will get a lot of visitors. This will play a huge role in increasing your revenue.
And you have to remember that there are more than 2 million blog posts published daily. So there is no substitute for quality content to get good ranking in search engines by competing fiercely with them.
Encourage users access to affiliate links
It’s not just a matter of displaying pictures of your product and getting your blog readers to buy it. That’s why you have to describe the quality of the product to the readers.
You need to inform the benefits of buying the product.
You also need to keep in touch with your customers via email.
Affiliate Marketing Statistics
- Expenditure on affiliate marketing in the USA alone will increase to $8.2 billion by 2022. Statista
- In the US, 81% of advertisers and 84% of publishers use affiliate marketing strategies. Forrester report
- Between 2015 and 2020, the amount of search on affiliate marketing increased by 200%. Google Trends
Large affiliate networks have 100k+ thousand active members.
- Amazon Associates: 900,000+
- ShareASale: 700,000+
- Awin: 205,000+
- ClickBank: 100,000+
ShareASale has a market share of 55.6%.
- The biggest niche of affiliate marketing is fashion. 23.28% of total affiliate market. amnavigator
- About 50% of affiliate- generated traffic comes from mobile devices. mediakix.com
- 35% of affiliate marketers earn $20,000 per year and 12% earn $75,000. inkwelleditorial
Benefits of Affiliate Marketing
The income from affiliate marketing is one kind of passive income. Because for this income you don’t always have to be active like a regular job. Your main job is to create content and spread it through blogs, social media or advertising campaigns. Then the return will keep coming automatically from there. You can even earn while you are asleep.
Many people want to start a startup but cannot move forward due to lack of capital. But affiliate marketing is a startup where you can start a business without any capital. It is very easy to join affiliate marketing. There are no obstacles here. If you have a blog or strong presence in social media is enough. You will just sign up by entering the website of the affiliate network and share the affiliate link through your blog and social media. The more you sell, the more you get commission.
It is not Necessary to be an Expert for Affiliate Marketing
If you have minimal knowledge about affiliate marketing, you can start affiliate marketing. There is no need to be an expert for this. However, there are some strategies to promote affiliate links that you need to know. These strategies will help a lot to increase the sales of your affiliate products or services.
Earn from Home
Want to earn money from home? Doesn’t it feel good to go to the office and do a job? Then affiliate marketing is a very good option for you. Because you don’t have to go out to sell affiliate products. Simply promoting product through online is enough to sell.
Lead an Independent Life
There are many people who like to live an independent life. Affiliate marketing will give you that opportunity. You don’t have to work under anyone. You don’t have to listen to the annoying words of the office boss. No one will say anything when you do what you want. So it can be said that affiliate marketers lead an independent life.