What is So Good About Affiliate Marketing?
If you’ve been dabbling in the Internet marketing scene for awhile now, you’ve probably heard about how you can make money through affiliate marketing. But can a person really earn a decent income online promoting products, services and brands?
An Overview of Affiliate Marketing
In affiliate marketing, businesses (affiliate merchants) and salespeople (affiliates) work together to generate revenue. Affiliate marketing includes various methods including hosting of particular links and banners on your website or blog.
Writing reviews of the affiliate merchant’s products or simply providing information. You get paid a percentage of a sale whenever someone clicks on the affiliate links on your website and makes a purchase on the affiliate merchant’s website.
Affiliate Marketing Benefits
I’ve been an affiliate marketer for over years now and I’ll share with you the benefits and advantages I’ve had doing it:
#1 You don’t need much to get started. You just need a website to refer potential customers to.
#2 It’s easy to track and analyze your site’s performance with the reports provided by the affiliate program or merchant.
#3 There is no limit to how much you can earn with affiliate marketing. Some people make a hundred dollars a month doing affiliate marketing, while others make tens of thousands of dollars monthly.
#4 There is no need to design or develop products. You will simply promote a brand’s products and you can even pick which ones to market.
#5 You can work as much or as little as you like. You can work an hour a day, or 8 hours a day – it’s really up to you. Take note however that to succeed in affiliate marketing, you have to put in hours working on your website and developing your strategies.
#6 Signing up for a program has no financial risks. When you choose a time tested network or program, you really do not have to worry that you’re getting scammed. A lot of affiliate offers out there do not even cost anything for you to join, while others offer free trial periods.
Can You Really Make Money with It?
There are programs being offered by major networks like Wealthy Affiliate that are giving bloggers the chance to make hundreds and even thousands of dollars per month. Their annual payments given to affiliates total more than a million dollars and they have been around for more than a decade.
I’ve been using them for quite a while now and I’m steadily making close to $1,000 from one website alone using their affiliate offers.
But of course, it’s not all smooth-sailing. The main issue with this method is that, as with other online money making endeavors, there are self proclaimed gurus who would tell naïve marketers that they can start making money quickly with little to no effort. It’s not a get-rich-quick program and the sooner you understand that, the lesser your frustration will be.
In the end, it’s not really whether or not affiliate marketing is a viable source of income for you, but rather, if you can make it work for you. Here are some tips to help you get started:
#1 Before you create a blog or a website, learn as much as you can about affiliate marketing. Read up on how others became successful.
#2 Pick affiliate products and services with excellent track record and feedback from their customers. You can even buy them so you can evaluate their quality first.
#3 Do due diligence on the programs so you’ll know all about payments, and if the program is a good fit.
#4 Select products that match the niche of your website or where your interests lie.
#5 Remember that content links have higher click through rates than image links.
#6 To win your readers’ trust, disclose that you have an affiliate relationship with the brand you’re promoting.
#7 Market your website. Don’t rely solely on SEO or social media to get more visitors to your site. Know who your target readers are, where you can find them and how you can get them to visit your website.
#8 Keep track of the performance of your affiliate programs especially if you’re using several.
Various Types of Affiliate Marketing
These programs are now more popular than ever. Why? Because this marketing method works. Merchants perceive affiliate marketing as the opportunity to advertise products at a fraction of the cost of traditional advertising. Affiliates meanwhile see this as an opportunity to make money without the typical start-up costs.
So the question now is, which kind of affiliate marketing will be a good fit for you?
There are different classes of affiliate marketing. The most basic fall under 2 groups: pay per performance (PPP) and pay per click (PPC). There are also tier-level programs
- Pay for Performance (PPP)
This is the most popular and is also the most profitable for marketers or affiliates. In this kind of program, you’re paid only when your referral results into an action, such as a purchase of the merchant’s product. Commissions usually range from 5% to 20% or more of the price of the product.
- Pay Per Click (PPC)
If you have a small website then PPC is probably the easiest way for you to make money online. You’re paid whenever a visitor clicks on the banner ads and text ads and visits the merchant’s site, even they do not buy anything from their site. Typical payments (fees) are small, usually less than a dollar per click.
Before jumping into Affiliate Marketing, you should first get to know all that is needed for you to succeed in this venture. More importantly, understand that it’s not easy, fast or automatic. You will need a strategy and daily involvement for this to work.
The good news is, if you are willing to work hard on your blog and market it day in and day out, then there is no doubt in my mind that you can make money with affiliate marketing.
The choice is really up to you and what I really like about afiliate marketing is I’m able to choose the niche I’m passion into it. Meaning said that, you’re not only helping people that into your niche but also generating income while doing so.
Let me know your thought by leaving your comments below.
Thank you for your time in reading this.