Looking for avenues where you can earn additional income online? If you are not really interested in developing a product of your own, then it’s time to think seriously about affiliate marketing. There are even many money-making courses like the 123 Profit online training program, that you can access and learn more about affiliate marketing.
Affiliate Marketing: What It Is And How Do They Work?
Affiliate marketing is a concept where an individual termed as an affiliate refers to a company’s product or service by sharing it on his/her blog, website, or social media platform.
The affiliate earns a commission, every time a customer buys that product or service by clicking the unique link or code associated with it.
How Does An Affiliate Program Work?
There are mainly 4 steps involved in participating in an affiliate marketing program.
- Based on your goals, do thorough research on affiliate programs. Be it high commissions or more traffic generation, join a program that best suits your goals.
- The next step is to decide on the offers you want to promote.
- Now you have to get a unique link or code for every offer.
- The last step is to share those links or codes on your website, blog, or social media channels.
How To Find Affiliate Programs?
The very first step is to choose an affiliate program. Some of the businesses run their own affiliate programs whereas others utilize an affiliate network.
To find affiliate programs, the easiest option is to visit an affiliate marketplace or platform.
Check out which are the top-performing affiliate programs in your niche. Some of the leading platforms are AffiliateFuture, ClickBank, Admitad, vCommission, Resellerclub, and ShareASale.
One more option is to check out the websites of products and services you use and are quite satisfied with. See whether they have an affiliate program.
Alternatively, get in touch with the owner of an amazing product and check out whether they offer an affiliate marketing program.
Once you get an affiliate program, go through the fine print carefully. It will state the terms of service you need to follow.
A typical example of such terms includes the link that generally comes with a cookie and a specified timeframe.
Also, in some cases, the programs will not allow you to buy pay-per-click ads using the product or company’s name.
Which Platforms Can You Make Use Of For Affiliate Marketing?
To make money through affiliate marketing, you can make use of many platforms. Some of them are your own website or blog, Facebook, YouTube, Instagram, Twitter, Email, LinkedIn, and Reddit.
Before choosing a platform, first, determine the platform on which you get the highest reach. For example, if it’s a business product, LinkedIn would be the best platform for that purpose. if If you want to make money through affiliate marketing choosing the right platform is important.
On the other hand, if it’s a fashion or lifestyle product, Instagram would be more relevant.
Types Of Affiliate Marketing
Affiliate marketing usually comes in three types.
- Unattached Affiliate Marketing
Under this model, the affiliates will not have any connection with the product or service they are promoting.
In this case, they will not have the related skills or expertise to recommend the product. Hence, they stay away from recommending or advising.
- Related Affiliate Marketing
In Related Affiliate Marketing, the affiliate will be having some type of relationship with the product or service.
Though the affiliate possesses the necessary expertise and influence to generate traffic, he/she does not make any claims about using the product.
- Involved Affiliate Marketing
In this model, there will be a deeper connection between the affiliate and the product or service promoted by them.
Either they are using the product at present or they might have used it in the past. In short, they act as a trusted source of information.
The Commission Rates Earned By Affiliates
Depending on the company and the affiliate program, the commission rates also vary drastically.
However, in most cases, you will earn a minimum of 1% of the sale amount, but it can go even up to 25%. There are also cases where affiliate marketing programs offer you a flat fee per sale rather than providing a percentage.
Generally, the income earned by an affiliate marketer depends upon the product or service being marketed, the influence of the marketer, the reach of the affiliate, and the time spent on marketing products.