We’ve heard, read and got curious about Affiliate Marketing and how to get a crack on it. To learn affiliate marketing is not rocket science but it needs a lot of patience and time to have a full grasp of how Affiliate Marketing works and become truly successful on it. Most of the successful blogs and online entrepreneurs are earning mostly from Affiliate Marketing and offer courses to learn affiliate marketing. If you don’t have a product or service to offer your audience, definitely affiliate marketing is a good way to achieve the dream of earning from passive income.
Now, I’m going to give you the layman terms of affiliate marketing.
What Is Affiliate Marketing?
Affiliate marketing is simple. It is promoting and recommending other people’s or other company’s products in exchange for a
commission. Affiliate marketing is an amazing process. But, it is still completely underutilized. The great thing about affiliate marketing is that you don’t have to invest time in creating the products that will be serving your followers and audience, because, guess what? Those products likely already exist.
3 Players of Successful Affiliate Marketing
There are three main things you need to a successful affiliate marketing: a niche, target market and a product or service. In a nutshell, affiliate marketing looks like this – a niche with a specific target market, and they have specific wants and needs. Most cases, they have some pains and problems they want to get resolved. At the other end of the spectrum, there are these products and services that already created and existed that will full answer to those problems.
The exciting part of the chain is – who will connect these products to this group of people who are looking for it. Yep, it’s the affiliate marketers. They are the middleman, the connector, the bridge between the two. If the connection is successful, affiliate marketers will earn a commission.
Let’s Really Make a Connection
Learning affiliate marketing is learning how to make a real connection between the audience and the product sounds simple but there is more than pasting an affiliate link and let the audience find out about it. As an affiliate marketer, the first role is to introduce these products to the audience and let them know that they exist. The next thing is to help the audience learn about these products and how they work and how they can help them. Once these products are introduced and had sunk into your audience, you will make it easy for them to make that buying decision.
If your audience is convinced that they need the product, they will go through that special link called an affiliate link, and you will earn a commission in return. The company or the person who created the product or service will give you a reward for making the connection to the new customer.
Isn’t it straightforward?
Affiliate Programs or Referral Programs
Affiliate programs, also known sometimes as “referral programs” or “partnership programs,” that’s how they work. The company who’s offering the product will provide a link to a product or specific set of products. If you can send traffic through that link, this company will reward you by paying you a commission, again, as a reward or a thank you. It’s at no extra cost to the customer. It’s essentially a share of that overall price.
Now, the percentage that you get paid depends on the product and the deal that you make, or whatever the program says the percentage is. It can be anywhere between 3%, which is on the low end, to 50% or even higher the total cost of the product. Example, Amazon Affiliates pays 12% for each sale while Clickfunnels pays 50%. There is no extra cost to the buyer as this will come from the company as a thank you for referring the customers to them. If you share the right and good products in the right and good way, affiliate marketing can become very, very lucrative for you.
Don’t Be a Lazy Affiliate Marketer
Oh surely, lazy affiliate marketers exist and it is bad for business. These lazy affiliate marketers will recommend a product that pays a really high commission, unknowingly that the products will provide a bad experience for your audience. As a middleman, the responsibility falls under your shoulders to ensure that the products you are recommending are great and will solve their problems.
Now, the trust is broken.
It’s really important that you believe and truly understand that the products that you are recommending are ones that can actually help your audience. Because of the internet and how easy it is to sign up for affiliate programs and recommend products to an audience, people have been taking major advantage of that in a way that actually leaves people with a bad taste in their mouth, and I don’t want that to be you. I want you to understand, you’re going to have a lot of power here with this audience that you’ve built and the products that you find, and also as you begin to grow, even more, there’s going to be other products and people who want to get their product in front of your audience. You really have to have that mindset of, “No, this is my way of serving my audience, just with products that aren’t mine, but are somebody else’s.”
Affiliate Marketing is the best and simple way of making money online but it does serve a purpose. You should always think of how to serve your audience and just simply taking money from them for rubbish products or services.
I hope that this provides full understanding as your first step in learning affiliate marketing.