What is Affiliate Marketing?
Affiliate Marketing is a kind of big deal! Giving free promotion to other people’s products you love and get a commission once the same product is purchased by someone based on your recommendation.
With Patience, Persistence, and Perspiration ordinary people became millionaires using Affiliate Marketing.
Passive income, a dream for many, but a reality for few, right?
Who doesn’t like to make money while sleeping?
Affiliate Marketing is an ethical and most lucrative way of making Passive Income Online.
Different stages of Affiliate Marketing:
- A Person wants to purchase an item online. He searches for that product in search engines like Google, Bing etc.
- He lands on a page where something is written about that product. It may be a “review” or a technical “how to” article. This is called as Affiliate page.
- This page will have Affiliate links spread across the page, by clicking one of these links he is redirected to merchant sites like Bluehost, Themify, Amazon and Flipkart etc.
- Finally, the person buys the item in the merchant site, And Affiliate marketer gets a commission for the same from the merchant.
How merchants track the source of their sales? They track using a unique link called affiliate link, which is given to you by the product company after registration. This is used to keep track of all the traffic generated and sales made by you using promotional techniques.
Most common terms of Affiliate Marketing:
Affiliate: People like you and me who promotes products using affiliate links and earns commission from the sales made.
Affiliate Software: A software used by the merchant to create an affiliate program for their product. iDevaffiliate is one of the most popular of this kind.
Affiliate Link: A unique tracking link given to you by the merchant company to track the progress of your affiliate promotion.
Affiliate ID: Some merchant companies provide a unique ID instead of a unique link, which after appending it to the URL of the page can be used as an Affiliate link.
Affiliate Manager: Many a time we need support from experts to earn maximum money in the areas like the best place to put the affiliate link in the web page, Track the placement which is helping you earn maximum money and other optimization tips and tricks. To facilitate these many merchants will assign dedicated affiliate managers to affiliate marketers.
Payment Mode: There are a number of different payment methods available of which each affiliate program will support at least one. Most common payment methods used widely across the network are Check transfer, Wire/Bank transfer and PayPal transfer.
Commission Percentage: The percentage of money shared by the merchant with the affiliate for each and every successful sale.
Two-tier Affiliate Marketing/Sub-Affiliate Commission: Some merchants will allow you to refer other people to join affiliate programs called Sub-affiliate. Whenever Sub-affiliate makes a sale you will also receive commission similar to multi-level marketing. This is like an added bonus on top of the regular affiliate commission.
Custom Affiliate Income: Many merchants will provide custom affiliate income to affiliates making the maximum sales for them, unlike a standard affiliate income.
Landing Pages: A unique web page used to describe the product features in the most intuitive way, which will eventually increase the sales of the product. Most of the affiliate programs will have multiple landing pages, we can find the best-converting page upon running A/B testing.
Link Cloaking: Affiliate tracking links from most of the merchants are ugly. We can make them human readable and memorable using Link Cloaking techniques like URL Shortens, Thirsty Affiliates etc.
Custom Coupons: For some successful Affiliates, many merchants will provide the ability to create custom coupons themselves, which can be used to track the sales. These coupons will help you to further increase the affiliate sales. Few merchants will use this as a best way to receive free promotion, which in turn saving extensively on advertising. Most of the times when you see a coupon or discount, there will be an affiliate link underneath, when you make a purchase affiliates will make some money.
Frequently Asked Questions about Affiliate Marketing:
Is Affiliate Marketing legal? Yes, it is unquestionably legal to do Affiliate Marketing, as you will be using the Affiliate tracking link provided to you by the merchant for marketing.
Can we use both Affiliate Marketing and Google AdSense together? Yes, Google AdSense Terms of Service will allow you to do Affiliate Marketing alongside. In fact, many bloggers would prefer having multiple Affiliate links in a web page together with 1 or 2 Google AdSense slots.
How to find Affiliate programs and their tracking links? Only a few companies will entertain Affiliate programs, the best way to find such companies is to scan through their website. If you find any product company offering an affiliate program, don't forget to check their terms and conditions or FAQ page. A simple google search is another way to find these programs, An example search phrase could be "bluehost + affiliate program" which will land you to their affiliate program landing page. Some companies prefer using an affiliate marketplace like Shareasale, CJ, and Clickbank etc., You can count these as starting point to research your niche and find the top performing affiiate programs. Last but not the least is to keep an eye on your competitor blogs and find the best converting products.
Do we need to have blog or website for Affiliate promotion? There is absolutely no need to have a blog or website for promoting affiliate products. But as per my knowledge having a blog is the best way to make most out of your affiliate marketing opportunities.
What would be the cost to join an affiliate program? There is literally no charge involved for joining an affiliate program. But your promotion technique will decide the cost of your promotion, Like a blog article is always free but there are various price tags involved for PPC marketing, Email marketing, and Advertising.
What is the qualification required to become an affiliate marketer? No formal qualification is required to become an affiliate marketer. But having good copywriting and marketing skills will give you a good edge for your growth as an affiliate marketer.
How much money can one make from affiliate marketing? This is the most important question that would run in one's mind before starting affiliate marketing. Even I pass through the same stage. I would say there is no limit to the amount of money one can earn from affiliate programs. It all depends on which niche market you're targeting and how many lead conversions you are making. I started with $4 as my first affiliate income, but now I make more than $1k per month by promoting products which I love.