Affiliate Marketing: Why You Should Get on Board
This guest post was written by Kyle Kam.
The Internet comes not just with better communication and information sharing, but also with a great potential to earn online. Thank the heavens for the World Wide Web. Without it, I would not have found out about a venture with this much potential for high returns. And for someone who wishes to earn a lot, that sounds really, really appealing.
What is Affiliate Marketing and How Does it Work?
When I decided to establish an online business venture, a friend recommended affiliate marketing. If this is a new term for you, I suggest that you spend time studying the concept, although it is fairly easy to understand.
Affiliate marketing is basically earning online through the promotion of another person’s (merchant) products or services. Then you earn through a commission percentage based solely on the translations you make (e.g. registrations, downloads, clicks, etc.). If you want to be part of this, you will then be called an “affiliate.”
Affiliates or publishers usually promote their chosen merchant’s products or services through their websites, social media accounts and blogs. To earn through this online venture, you can opt for any of these three methods:
- Pay-per-lead, where affiliates earn for every visitor that enters information or signs up on the affiliate link;
- Pay-per-click (PPC), where affiliates earn through each visitor’s click on the merchant’s link or banner; and
- Pay-per-sale, where affiliates earn for every product or service a visitor buys through their website.
When I was choosing a merchant, I picked a company that is relevant to my niche market. In doing so, I had higher translations as my followers can relate to the product I was promoting. I suggest you do the same. Also, make sure that the merchant has a good reputation in the market.
How to Become an Affiliate?
Affiliate marketing seems fairly easy, isn’t it? Here is a step-by-step guide to become one:
Choose your affiliate program.
You cannot simply choose a merchant through fishbowl method. This process requires careful selection, which includes these two steps:
- Research. Whether you’ve decided to stay within your niche market or to promote anything under the sun, you need to do some research on which products or services have a high conversion rate. Check out the seller’s website. Generally, a five percent conversion rate is already good.
- Join an affiliate program. Once you have settled on a particular merchant, you can now choose an affiliate program. Most online companies offer free signups, while others require a certain fee. It is advisable to sign up for a program with recurring commissions that will continue to add up with every referral.
Promote the product or service.
Once you have already signed up for an affiliate program, you can proceed on getting your affiliate links. Affiliate links will help you track the translations that you have. Afterwards, you can:
- Promote them on your website. If you don’t already have one, create a blog or a website where you will promote your affiliate link. What I did was search online for sources on how to create professional-looking websites. It will also help to look at other websites that you think have a really good structure.
- Write relevant content. If the merchant sells a particular product (e.g. e-book), it would be good to write an article that’s relevant to the affiliate link. In doing so, it would also be easier for you to recommend the product/service to your readers.
Generate more traffic to your website.
Of course, you need to actually have followers, in order to sell whatever it is that you are promoting. You can do this through:
- Article marketing, which involves submitting your articles to article directories. Don’t forget to include a link to your own website.
- Commenting on forums. Make sure to post messages that are relevant and not spam. Otherwise, the webmaster will ban you. On your profile signature, again, include a link to your website.
- Learn SEO. Search engine optimization is one of the most effective ways of generating traffic to your website. You can either hire a specialist or learn the tricks of the trade yourself.
What Affiliate Marketing has in Store for You?
The appeal of affiliate marketing is becoming more apparent, as plenty of bloggers and website owners are now venturing into it. Just what exactly can this strategy offer you?
- Internet-based business venture. You don’t have to go out of the house; you don’t even need to spend hours going door-to-door. You just need your computer and an Internet connection.
- High returns. According to reports, affiliates in the UK earned $2 billion in 2006. I told you, the returns are high. Affiliates can earn as much as $20/week or over a million dollars in a year.
- You get paid for what you do. The pay-for performance characteristic of affiliate marketing ensures that you will earn commissions from registrations, sales, or clicks.
Reasons to Become an Affiliate
So why did I become an affiliate? After asking around and doing my own research, here are the reasons that finally made me decide to engage in this kind of venture:
- You Have Choices
The good thing about affiliate marketing is that you have a lot of choices. You can join a lot of affiliate programs that suit your preferences and you can promote more than one product or service. Moreover, affiliates can put up different websites for promoting different merchants. This is how they earn a lot.
- Less Risk, High Returns
Affiliate programs are free. You can start on this venture with very minimal capital, as you only need to pay for hosting and the domain name. That is, if you choose to have you own website. If not, there are a lot of free hosting sites out there.As an affiliate, you don’t need to invest on developing the product or the service, which would take thousands of dollars. You only need to find a way to effectively promote it. And as stated above, the returns can potentially give you a million every year.
- You Don’t Need to be a Pro to Succeed
Unlike with applying for office jobs, merchants don’t require a sterling resume or an IT genius before accepting affiliates. This is open to anyone who wishes to earn money online.
- No Hassle of Delivery
You also don’t need to worry about the mechanics of delivering products. This is between the buyer and the merchant.
- You’re the Boss.
This is my favorite. The good thing about working online is that you work in your own time. You choose the amount of effort you give and decide how much you want to earn in a month. When you handle your own time, instead of working on a fixed schedule, you can devote it to other tasks like spending time with family and friends. Moreover, this has the potential to generate passive income, effectively giving you more free time in your hands.
Although affiliate marketing has the potential to give you a million dollars per year, this is definitely not an overnight success. Contrary to popular belief, you don’t just sit around and expect the money to come in. You also have to do your part to attract more visitors to your site. With perseverance, I believe that you will be among the ranks of the top affiliates in the world.
Kyle Kam is a marketing consultant for Affilorama, an affiliate marketing portal. You can also check their affiliate marketing blog and affiliate marketing forum for more tips and information about affiliate marketing. They also offer, free affiliate marketing lessons for beginning and advance affiliates.