Affiliate Marketing – Getting Others To Sell For You
Getting more visitors to your website to purchase your products/services can be made easier with affiliate marketing. We have compiled this article to assist you in your pursuit.
Get Others To Promote You!
The idea behind it is that you promote other people’s products, often through an affiliate network, earning a commission if people actually buy thanks to your marketing.
It’s based on revenue sharing. If you have a product and want to sell more, you can offer promoters a financial incentive through an affiliate program. If you have no product and want to make money, you can promote a product you feel has value and earn an income from it as an affiliate marketer.
I’ve talked a little about it before, but today I want to dive deeper into what affiliate marketing actually is, what sides there are to it, and how to get started. So, let’s dive into my affiliate marketing guide. Ready?
How Does Affiliate Marketing Work?
To participate in an affiliate marketing program, you’ll need to take these five simple steps:
- Find and join an affiliate program.
- Choose which offers to promote
- Obtain a unique affiliate link for each offer
- Share those links on your blog, social media platforms, or website.
- Collect a commission anytime someone uses your links to make a purchase
Commission rates vary dramatically, depending on the company and the offer. You’ll earn about 5% of the sale on the low end, but with some arrangements, you can earn as much as 50%, usually when promoting a class or event. There are also affiliate marketing programs that provide a flat rate per sale instead of a percentage.
How To Find Affiliate Programs
If you’re wondering how to get your feet wet in affiliate marketing, you’ve got a few options. Not every company offers affiliate programs—some businesses manage their own affiliate programs while others use an affiliate network.
Earning money with affiliate marketing programs can be a rewarding way to add a new revenue stream without taking too much risk. All it will cost you is your time. By investing the hours upfront, you can continue to reap the rewards.
There are several ways to promote affiliate products. Based on the resources available to you, you can experiment with some of the following tactics:
- Run social media campaigns
- Use blogging to educate your audience about the products.
- Use your social accounts/ pages to create micro-content about the products.
- Send monthly emails or newsletters as recommendations to your subscribers.
- Create helpful videos around the product or a problem that they can solve
- Add banners and buttons to your site.
- Offer promos, coupons, incentives, or loyalty rewards to consumers
You do not need money to sign up for being an affiliate to any brand. You also do not need to have a lot of money to promote your affiliate links; all you need is a strategy to reach the right audience – it can be through organic social media, communities, groups, and even your network.
Affiliate marketing is a popular tactic to drive sales and generate significant online revenue. Extremely beneficial to both brands and affiliate marketers, the new push towards less traditional marketing tactics has paid off. In fact:
- 81% of brands and 84% of publishers leverage the power of affiliate marketing, a statistic that will continue to increase as affiliate marketing spending increases every year in the United States.
- There is a 10.1% increase in affiliate marketing spending in the United States each year, meaning that by 2020, that number will reach $6.8 billion.
- In 2018, content marketing costs were gauged to be 62% of traditional marketing schemes while simultaneously generating three times the leads of traditional methods. In fact, 16% of all orders made online can be attributed to the impact of affiliate marketing.
- In March of 2017, Amazon’s affiliate structure changed, offering rates of 1-10% of product revenue for creators, providing the opportunity for affiliates to dramatically increase their passive income based on the vertical they’re selling on.
- The affiliate marketing of Jason Stone, otherwise known as Millionaire Mentor, was responsible for as much as $7 million in retailer sales just in June and July in 2017.
What You Need to Start Affiliate Marketing
There are 2 things you need to get started with affiliate marketing:
- Create a website or blog in your niche
- Choose affiliate products to promote
To make money with affiliate marketing, the first thing you need is a website.
When it comes to building your website, you have tons of options. But we highly recommend using WordPress.
With WordPress, anyone can quickly build a professional-looking website in minutes.
Plus, WordPress has more tools to help their sites perform at a higher level than other website builders. That means more functionality across your site and a better user experience (UX) for your visitors.
If you’re interested in making money with affiliate marketing, WordPress is definitely your way to go.
Now that your website is built, you’ll need to determine which products you want to promote. That takes us to the second prerequisite for starting with affiliate marketing.
If you’ve done the work to choose a niche, choosing affiliate products to promote should be easy. Choose products that fit your niche and relate to your content.
One of the best ways to select your affiliate products is by joining an affiliate network.
Affiliate networks are businesses that connect merchants and affiliate marketers so both can earn more money. Affiliate marketers use affiliate networks to make better product selections to promote on their site.
Higher commission = Easier to find affiliates
How much commission you offer your affiliates is up to you. Higher rates will be more attractive to potential partners in affiliate marketing but will, of course, eat into your profit margins. Generally, the highest commission rates are offered on information products. This is because you, as the owner of the product, can produce as many of them as you want at little or no additional cost after the initial development of the product, and also because you have no overheads in terms of maintaining stock or shipping – for a product like an ebook or other downloadable, you can keep on selling as long as there is demand. Of course, because you only pay a commission on sales made, the return on investment from this marketing type is always good.
If you have any questions on how affiliate marketing can help your online sales, or should you need help in the installation and setup of an affiliate marketing plugin for your WordPress Website, please call RapidPage.ca today.
RapidPage.ca has compiled this article, and all reference links are listed below.