In today’s highly competitive world, it has become a necessity to have multiple earning streams. Affiliate marketing gives you the opportunity to make extra stream of income by simplifying the overall earning process. According to statistics, affiliate marketing accounts for 16% of all ecommerce sales worldwide. With that massive impact, the growth of affiliate marketing is steadily increasing. People tend to be active on as many networks as possible in order to reach as many affiliate programs as possible. As a result, affiliate marketing has become so important to brands throughout the world that 81% of them use it.
What is Affiliate Marketing & Why is it Important?
Affiliate Marketing is when you promote other company’s product or service in return for a commission. The commission is a certain percentage set on the sales generated. It is the company who sets the commission and pays affiliate marketers on each sale generated.
Amazon offers one of the biggest affiliate marketing programs, in which websites and bloggers place links to the Amazon page for a reviewed or discussed product in exchange for advertising money if the product is purchased. In return, it enjoys highest number of sales throughout the year. This generates revenue and creates a win-win situation for both the store and the affiliate. The approach is both innovative and profitable, and it is growing in popularity.
Benefits of Affiliate Marketing
Affiliate marketing is a way of marketing and selling products without the need for a physical store. It is an effective way to advertise products and services because you are not using your own money to promote them.
When you start a business, you’ll have to bear investment costs like merchandise, staff, equipment, rent, and so on. As a result, it is both risky and expensive. All you need for affiliate marketing is a website. Even if it doesn’t work out, you’ve only wasted a little time and money. Moreover, affiliate marketers can push products from a variety of companies and receive commissions from all of them unlike salespeople who are responsible for only one company.
Advertising with influencers is a new way to promote your products and services. These people already have a huge following so you can leverage that to advertise your brand. You do not need to use your own money or resources for this, the influencer will promote it for you in exchange for something that benefits them.
How To Get Started with Affiliate Marketing Using the Right Platforms
Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts.
It is also a great way to promote your online store and make money online. This type of marketing has been around for years and it’s still as popular as ever.
You can easily start earning through affiliate marketing using the right platforms.
These are websites that review products for a specific target market or compare a product line to its competitors. To attract an audience, you must generate content relating to the review sector and post it on a regular basis.
2. Social Media
Some of the examples of affiliate marketing through social media includes content created by bloggers, youtubers or social media influencers. They leverage their huge following and develop content that appeals to a specific audience. The idea is to expose niche products to their audience in an organic way. This improves the likelihood that they will purchase, and you will earn a commission as a result.
Blogs are a great initiative to earn through affiliate marketing. Affiliate marketers who use blogs to write about a specific niche may have a huge number of readers or a strong online traffic. This allows them to easily reach out to their audience. They can refer links to products and services from other websites and profit from each lead or sale generated.
4. Email Campaigns
Email marketing enable you to communicate directly with your audience. You’re only a click away from reaching your target audience if you want to advertise a product review. A robust email list can be a great way to connect with the right target audience and recommend products and services.
Step-by-Step Process to Make Money with Affiliate Marketing
Affiliate marketing is an excellent way to make money online.
- The first step is to decide what product you want to promote. You need to be very specific about your niche in order to target the right audience.
- The second step is to create a blog that will serve as the content of your website, which will increase the chances of getting visitors and customers. You can take help from agencies like Dexterous and build a creative web design using WordPress or Shopify for this.
- The third step is to create social media pages. A Facebook business page, Instagram and Twitter can make your website reach out to a large audience. This will allow you to market your products and services on multiple platforms hence providing you good coverage.
- The fifth step is to find affiliate programs that offer commission opportunities without charging any recurring fees or monthly charges.
- The sixth and last step is signing up with these affiliate programs and then promoting their products through your blog, website or social media platforms.
A Guide for Newcomers Starting Out
There are many ways to start affiliate marketing. You can choose a topic that interests you and build your own website around it, or you can find an existing site that offers affiliate programs and join them.
If you have a way with words and you want to make money from your passions, look into becoming an affiliate marketer. While there are many ways to make money as a writer, affiliate marketing might be the best one for those who want to work from home. Affiliate marketing is simply promoting someone else’s products in exchange for a commission. You can find products on sites like Click Bank or you can look for individual websites like Dexterous that offer a comprehensive Affiliate program.