Do you want to earn while you are sleeping? Do you want to earn passive income?
Who don’t want to, who don’t want to earn money while they are sleeping, It is most of the persons dream to print bills while they are sleeping. That is what affiliate marketing is all about. Affiliate marketing is the idea where you get paid or earn money for promoting other’s goods and services if people end up buying the product, all thanks to your marketing and promoting of the product.
The best definition of Affiliate Marketing can be– Affiliate marketing is a method of income, earning commission by promoting or marketing other people’s products. You find a product you think it has value and will have demand in public you go and promote and earn commission.
CORE PLAYERS OF THE AFFILIATING MARKET INDUSTRY-
If we study in detail there are 4 core players of the marketing industry
- The Merchant– the main creator of the product, retailer, brand or the person who wants to sell the product.
- The Network– platform where the affiliates are chosen from the options and the payments are taken care of the affiliates.
- The Affiliate– person who promotes the products in order to earn commission if the product is sold by his promotion. The affiliate can also be known as the publisher.
- The Customer– person who buys the product.
- But in actual affiliate marketing the only main players in the affiliate marketing are the merchant, affiliate and the customer.
- The merchant can be an individual or can be a multinational company, who are the creator or manufacturer or retailer of the product. Any person creating a products and want to sell can be known as merchant. Affiliate marketing is no risk to their business as there are no expenses on their side they only have to pay commission to the affiliates when there is a result. Only after sale of the product they have to pay commission.
- The affiliate can also be an individual or a team with large numbers or also can be a website. An affiliate can earn from few hundreds to millions in a month. An affiliate is where all the marketing and promoting of the product happens, it is up to the affiliate potential , capability and strategy how to promote the product and sell them to earn commission. The strategy and approach should be attracting to attract the customers towards the product.
- Customers, without customers there is no point of doing the whole affiliate marketing operation as there would be no commission or products if there are no consumers. As said customers are the kings of the markets, there would be no income to any business without customers. The affiliate will try various techniques to approach customers, they will track and study the customer behaviour. An affiliate cannot charge more for the product from the customer as their part of commission is already decided in the retail price.
- The Network can also be somewhere useful in the affiliate marketing as it also provides platform to the affiliates. It works as the intermediate between the merchant and affiliate as it manages the payments and affiliate networks can also help in promoting of the products.
As the market is grown in competition, the requirement of the key players are now more than ever, affiliate marketing help both the merchant and affiliates in the era of competition and modern ways are required to remain at top. Affiliate management agencies, third party vendors and all other ways are needed by the business. In affiliate marketing there is not only scope as being a affiliate or publisher but also as a merchant one can also be a merchant as they both have benefits in their respected field.
- BENEFITS AS A MERCHANT-
- PERFORMANCE BASED– The affiliate program is performance based as they are paid on commission for promoting and selling through targeted customers which will drive them to focus better on marketing. As a result a merchant will gain more demand for the product.
- BROAD AUDIENCE– Affiliates can be found for any product category whether for handcraft or any other products. Affiliates are linked with many partnerships with broad audience which will help a merchant to approach large audience and new markets for the sale of their product.
- BOOSTING REPUTATION– By linking with well reputed and skilled affiliates which has numerous contacts with trusted websites and markets which will as a result boost the merchant’s reputation through their quality products.
- COST EFFECTIVE– A merchant doesn’t have to add expenses of the affiliate without the selling of the products through the affiliate. The commission is only paid if there are results of sale through the affiliate. However recruiting of the affiliate is also cost effective as using his services.
BENEFITS AS AFFILIATE-
- FAR REACH– Affiliate marketing is a wide field and in such a field there are number of products categories than an affiliate can approach for marketing and promotion of the product in there targeted audience.
- LOW-COST OPPORTUNITY– Everyone desires to start a business with less capital and affiliate marketing is a right platform for that. It is 100% tech dependent business one can only start with basic knowledge and a laptop and can earn from hundreds to millions.
- LOW EXPERIENCE– One can start as a fresher too as there is low expertise required in this field only a basic knowledge can help you startup. That is up to the affiliate that what strategy and campaigns he follows to get better at trade and marketing of the selected product category. In this field practice makes the man perfect.
- NO NEED TO QUIT REGULAR JOB– Another benefit of affiliate marketing is one doesn’t need to quit job to get into affiliate marketing. It’s the person’s choice if he wants to dedicate full time in this and want to quit his regular job. Affiliate marketing is as good as a primary job one can earn more than a job with full dedication and proper marketing strategy.
- INDEPENDENT AND FLEXIBLE- Affiliate marketing is as independent and flexible as a passive income. One can work at any schedule whenever it suits and work according to will and don’t need to handle any after sale queries as these are with merchant’s department. The only department of a publisher is to target audience and promote the merchant’s product.
Affiliate marketing is all benefits with a large scope and a very small risk as there is not much capital required to get a start up in the field of affiliate marketing neither to be a publisher nor by a merchant to recruit a publisher. All the advanced ideas and ways are needed in to overcome business obstacles and competition.
STEP BY STEP GUIDE TO BE A PUBLISHER OR AFFILIATE
The first thing to start a startup is to focus, dedication and confidence. Things don’t get at work in first try. Slow and steady wins the race. The step by step guide will guide you how to start your own affiliation marketing web.
- CHOOSE AND REVIEW PRODUCTS IN YOUR NICHE
The very first step is to choose and review the products you are interested in and will be easier for you to promote according to your knowledge and target audience. They key points to keep in mind while choosing your niche should be-
- Is there enough demand for this niche?
- Is there money in these products?
- If there is abnormal competition in this niche?
- If you have enough knowledge about the products?
- CHOOSE AN AFFILIATE PROGRAM
After deciding your niche your other research should be on choosing an appropriate affiliate program. Affiliate programs will pay you commission by sending traffic to their website programs. Key points to keep in mind are
- What type of merchants are on the affiliate program
- How much commission they pay and how much you want
- Support the program provide
- BUILD A WEBSITE
After research of your niches and affiliate programs now you have to build a website and little investment will be required to build the website and to buy the domain name. This website will be where you will promote your products. It should be properly themed and with a good content and details.
- WRITING CONTENT AND BUILDING AUDIENCE
Now you have to write a good content on reviews of the products in your selected niche. This is some time consuming step as in this you have to write time a very good quality content to attract customers.
- Review products
- Write good quality blogs
- Product information.
After building website and content now you have to target audience for your promotions and attract them. An interested audience will provide you traffic to your website and increase in sale of the products through your promoting. You can promote your website through-
- Social media
- Paid advertising
- SEO techniques for search engine.
- PROMOTION OF THE AFFILIATE OFFERS
The last step from where you will start earning commissions for the promotion of the products. After listing your niche with valuable products you can promote them by the following ways-
- Honest product reviews which will make the audience to trust you and get attracted to the product and from your affiliation program id link they can jump to the buying option to buy which will earn you commission.
- Banner ads are also useful ways on your website that will take the customers to the buying site
- Email promotions
- Discounts and giveaways offers that are placed by the affiliate program will also attract the customers on valuable products.
All these steps will help you to be an affiliate and earn commission form hundred to millions without losing your actual job as it is flexible and independent source of earning. All you need is proper strategy and dedication towards affiliate marketing