What is affiliate marketing?
If you are new to this, read on. Affiliate marketing is a common way people make money online. It is done by recommending a product or service to the people you know/or your followers, and earning a commission when they buy/signup for it (or complete some other action associated with it).
Misconception About Affiliate Commissions
Many have misunderstanding about the commission. The commissions earned by affiliate marketers actually comes from the company that they promote, and it does Not add up to the total price paid by the buyers. In other words, the buyers still pay the original price.
How does affiliate marketing work?
The steps are really simple and straightforward.
- Recommend a product or service to your followers or the people you know.
- Your followers purchase the product or sign up for the service based on your recommendation.
- When purchase/signup is complete, you get paid a commission for those sales.
Types of Rewards
Pay per action: Affiliates are paid when a customer completes a specific action. For example, a company pays you every time someone subscribes to its email list.
Commission: A percentage of the purchase price as a payout to affiliate. Exabytes Affiliate Program payout is among the HIGHEST — 25% recurring commission as long as customers renew their hosting.
Prizes: Some affiliate programs add benefits and perks such as physical items or cash vouchers to affiliates who perform the best in a particular promotion.
Credits: This method is very common. Some affiliate programs compensate affiliates in the form of store credits.
We now know the basics of affiliate marketing, so the next question will be how to start as an affiliate marketer? Is affiliate marketing right for you?
How to Earn PASSIVE INCOME as an affiliate marketer?
- Create a way to communicate with your audience
There are a lot of ways to communicate with your audience, for example, writing a blog, email, etc. Read our article on 10 ways to promote your affiliate products to get to know the way that suits you best.
- After you have found ways to communicate with your audience, produce high quality content for them on a regular basis. We understand that many are eager to get commission, however, constantly blasting your affiliate products to your audience will not get you anywhere. Instead, it will annoy your audience more. People don’t like to get promoted with products all the time, instead the majority of us prefer to get information or tips that are useful to us. Producing high quality content means giving/sharing information or knowledge that can help your audience in a way.
- Affiliate marketing is all about trust. Would you buy something that is recommended by someone you do not trust? As an affiliate marketer, sharing practical, useful or inspiring content/information to your audience will help you increase credibility and gain trust. Once your audience trust you, they would really consider buying something that is recommended by you.
- Offering solutions is where the product or service comes in. For example, you can share a potential problem and suggest an affiliate link which offers a solution to your audience. Explain to them how this product or service can help them solve the problem. Even better, guide them along on how to use it. When your audience or readers purchase/signup by clicking on your affiliate link, you will earn a commission.
- When your audience have trust in you and start buying/signing up using your affiliate link, you will then need to repeat the whole process again to increase your audience size. Don’t forget to monitor and track your results. Constantly engage with your audience to understand how you are doing and what they need.
We hope this beginner’s guide on affiliate marketing is useful to you.
When you go deeper into affiliate marketing, there are more to be explored and tested. There will be more channels to take care of, and more tools to help you achieve better results. Are you ready to Start Now?
