What is Affiliate Marketing? What are the benefits of this Business model? How to make Money online with Affiliate Marketing? Affiliate Marketing can be described as an arrangement between an online merchant and affiliate whereby the affiliate is rewarded for generating sales, leads or clicks for the Seller’s website. In other words, it is the process of earning revenue by promoting other peoples products. This arrangement is beneficial for both the merchant and affiliate. Affiliate Marketing gives the Merchant more exposure to his products or services. By using the affiliate marketing method, the merchant can reach out to a wider audience to market his products and services at a cheaper cost. This increases the chances of selling his products. More exposure to the sales pages brings in more sales and leads to the Merchant. Most Affiliates use their trust and reputation when promoting other peoples products. So the chances of people buying are more comparable to the Seller promoting his services alone. Also when someone buys a product by clicking on the affiliate link, he may also recommend it to others who may need it. This way the merchant leverage his chances of earning.
On the other hand, Affiliate Marketing is also beneficial for the affiliate marketer as he makes money from every customer who clicks on the affiliate link and purchases the product or services provided by the merchant. The affiliate gets rewarded for sales made through affiliate links. The compensation for Affiliates could be pay per sale (PPS), cost per action (CPA), cost per click (CPC) or cost per mille (CPM, cost per estimated 1000 views). The best part of this arrangement is that most affiliate programs are free to join and won’t cost anything. However, if you wish to be a successful Affiliate marketer and make money online it is important that you follow some basic steps while promoting a product/service.
Tips to Make Money Online with Affiliate Marketing
1) Identify a Good Niche: It is important that you don’t just promote anything. Pick a product from a niche you are interested in or passionate about. It is easy to promote products you are convinced about or what you are personally using.
2) Profitable Products: You won’t make money with Affiliate marketing if no one wants the products you are promoting. No matter how passionate you are about the niche product, if it does not convert well, you won’t be able to profit from it. It is important to do a research on the product you want to promote. Doing a Google search of the product can be helpful in knowing if a product is worth promoting. Also, most affiliate networks can give you information on the most profitable products and best paying merchants.
3) Create a Website/Blog: A Niche Website or Blog is the best place to promote affiliate offers. You may use free blog platforms to promote affiliate offers, but having a TLD site is more beneficial when promoting affiliate offers. Make a list of the best converting and on demand offers and promote them on your site. Google and Facebook Ads, Article Marketing, Video Marketing and mailing lists can also be used to promote products.
4) Reputation of Seller: Apart from picking up high converting products, also make sure that the merchant has a good reputation. You would not want to promote poor products or scams to your visitors. When choosing the products, you must also consider the support from the seller for Customers and Affiliates. Most of the reputed Merchants provides promotional material to their Affiliates to promote the products.
Now that you have decided which products to promote and how to promote, you are ready to make money with affiliate marketing. With affiliate marketing, it is possible to earn large sums of money in a short span of time. However, the success of an Affiliate Marketer depends on a lot of factors such as traffic, authority of the affiliate, demand for the product, the quality of the product and sales copy promoting the product to name a few. In short, Affiliate marketing can be quite rewarding, but it involves a great deal of hard work and persistence.