Making online Money in 2020 isn’t as easy as early days because nowadays there is too much competition in every Industry. But If you will ask me the best way to make money online? I’m one gonna say only one thing that is Affiliate Marketing.
But there still comes a question that Why is affiliate marketing?
So, Affiliate Marketing is one of the best opportunities to get started with as an online business is because it’s free to start. You don’t have to have money to buy products and then sell products. I see a lot of people who want to start an online business or they want to start generating money and they think that they need to have money to make money. But the truth be told it is easier to make money when you already have money but with affiliate marketing, you don’t have to have anything.
So, in this article, I’m gonna give you a step by step practical guide about Affiliate Marketing.
What is Affiliate Marketing and how does it work?
Affiliate Marketing is a way of promoting other people’s products or services and you get a commission if someone buys it through an affiliate link. In other words, you find the product or service you are interested in, advertise it to other people through a blog or any platform, and get a commission of the profit when it is sold.
The cost of buying a service or product through a partner is similar to the cost of buying directly from the owner of the product.
It turns out that the latter will have to pay partners a percentage of sales as a commission, that is, the sale will bring him less money than if he sold himself.
But if you do not forget that the partner helps them attract far more customers (and make more sales) than they could do on their own, then it becomes clear that such a model allows product owners to earn even more.
Being in the status of a partner, you can receive a commission for each transaction concluded on your tip or provide yourself with a constant income by promoting a membership or service subscription.
Partnership, as a rule, is represented by two main parties: the author or owner of the product (it is often called the seller) and a marketing partner.
However, for successful cooperation, the participation of a third party is also required.
So. The first side of this equation is represented by the seller. Under the seller may mean the advertiser, brand, creator of the product.
The author of the product can be either an individual or a Fortune 500 company.
Anyone can be a seller.
However, it is not at all necessary that he be actively involved in the sales process itself. It requires only a product or service that is available for sale.
The second side is the partner. An affiliate can also be an ordinary person or an entire company. Partners can earn on commissions from a few hundred to millions of dollars per month.
A partner takes on marketing tasks by promoting one or more products. He attracts and convinces potential buyers of the value of the product so that they decide to ultimately purchase it.
The third party is the buyer. It is the customers who provide the entire affiliate system. There will be no sales – there will be no income, part of which in the form of a reward will go to the partner’s pocket.
In an attempt to attract the attention of the audience to the product, the affiliate will use any available and suitable channel to advertise it and it doesn’t matter if it’s advertising on search engines, social networks or blogs.
At the core of what successful affiliate marketing looks like is this: There’s an audience, a target market, a niche, and they have specific needs and wants and problems and pains and desires. Then over here, there are the products that already exist in that space, that fulfill those needs, wants, desires, help solve those problems. Then there’s you in the middle, who will
be the connector. That’s what a successful affiliate marketer does. They connect the audience to the products that make sense, and when you make that connection, you earn a commission.
So, you gotta know what is affiliate marketing but here comes a question: How Affiliate Marketing work? What do you do in this process?
So I’m gonna tell you that in three steps:
- You’re going to help this audience understand that these products exist.
- You’re going to help this audience learn how these products can help them. First, you introduce those products and then secondly you show them how they can help.
- Finally, you will make it easy for them to make that buying decision. As a result, if that audience goes through that special link that you have, which is an affiliate link, you will earn a commission. That’s the company or person’s way of rewarding you and thanking you for helping to refer to this new customer easily.
What are affiliate networks?
Networks act as intermediaries between advertisers and affiliates. They are not essential, but they strengthen the bond of trust between the two parties.
They manage relationships between advertisers and affiliates and have independent monitoring and verification structures essential to reducing fraud rates. Two of the most popular networks are ClickBank and ShareASale.
Some advertisers use a network because they lack the time or resources to monitor, manage, and report the compensation of their affiliates. Composed of a wide selection of affiliates, the network also allows them to multiply collaborations.
AFFILIATE MARKETING EARNING MODELS
There are many ways to make money through affiliate marketing. Some of the Common ways are mentioned below:
1. Pay per click (PPC)
The affiliate is paid for all clicks generated, whether the click ends or not by the creation of a lead or by a sale. This model is rarely used because only the advertiser takes a risk.
2. Payment by lead (PPL)
The affiliate is paid for each lead generated, whether it be an online form submission, registration for a free trial, or a pre-sale. The risk-taking is here fairly shared between the advertiser and the affiliate.
3. Payment by sale (PPV)
The affiliate is paid for each sale generated. This is the most common model because only the affiliate takes a risk.
How to choose an Affiliate Program?
There are two very common misconceptions about affiliate marketing that this article should address.
- Affiliate marketing is outdated: Whether SEO, advertising, or mobile, one of the characteristic facets of the world of online marketing seems every year doomed to obsolescence. However, if an activity stands the test of time and continues to prove itself, it is probably because it is intended for certain longevity. This longevity, however, requires a capacity for evolution, and affiliate marketing is no exception to the rule. From a system focused on the generation of quick wins, affiliation is now a model requiring the development of relationships of trust to bear fruit.
- Affiliate marketing is easy to set up: Affiliate marketing is a task that requires time and effort to be profitable. In particular, it involves choosing a relevant product to promote, making a judicious choice of collaboration, developing relationships of trust, and offering constantly renewed content.
Affiliate marketing revolves around two basic rules:
- As an affiliate, you should only promote products that you know extremely well and whose value and interest to end users is beyond doubt for you.
- Do not tell a user directly to buy a product, but recommend it to a user based on your own experience and what it has helped you achieve.
To promote relevant products, it is advisable to take into account the following three elements:
- The audience: Does the product you have chosen meet their expectations and will they be grateful that you are promoting it?
- The quality and value of the product: Would you recommend it to your friends?
- Profitability: Does the selected product benefit from a competitive conversion rate and is it likely to generate sufficient income?
Your membership in an affiliate program will only bear fruit if you master the fundamentals of marketing and ensure the development of an authentic brand.
If you promote products without consideration for the value they generate for your audience, you can never take full advantage of the program you join. For this, the choice of products that you decide to promote must be based on real convictions about its value and its usefulness.
To ensure a stable source of passive income, you must therefore develop your brand, select products that you are passionate about and create authentic content.
How to start affiliate marketing in 6 simple steps?
I assume that by now you have a pretty good understanding of what affiliate marketing is and how it works. If not, now you will find out specific actions, where to start.
First of all, let’s say that you do not have a presence on social networks. You are not an Instagram model, not a YouTube blogger, or something in between – you are just a simple guy or girl who is looking for a way to earn extra money.
Remember when we talked about what an affiliate program is? Once you find such a program and determine that you want to participate in it, you can proceed to the real steps.
So, one of the best way to start affiliate marketing is start your own blog and promote your content. I’ve mentioned 6 simple steps to to start an Affiliate Marketing Blog.
Step #1: Create a Blog
Step #2: Choose your Blog Niche and Name
Step #3: Research Products in Your Industry
Step #4: Create Quality Content
Step #5: Optimize Your Blog
Step #6: Start Promoting and get Visitors
If you want to go in-depth you can read our article about how to start a blog. That would help you in starting your Blog.
Affiliate marketing is not an easy task. Over time, more and more people want to work without leaving home or to receive passive income on the side. And affiliate marketing is just one of the most famous ways to do this.
Immerse yourself in affiliate marketing with your head, and your life will be transformed. Your high conversions!
Wrapping up & this is the end of the article. In other words, I hope this Affiliate Marketing guide for beginners has been helpful to you!