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Affiliate Marketing is one of the booming spaces on the world wide web at the moment to earn money online.
Due to the recent pandemic which is caused due to Covid-19 virus, many people have lost their job and most of the businesses have died.
Also, at the same time, many have moved their business online. It is a great opportunity for anyone to earn a good amount of money by promoting products of different businesses around the world with the power of the internet.
Affiliate marketing is easy and beneficial. It has earning potential when the rules are applied correctly.
It is one of the most used and rewarding online business strategies.
So let us go ahead and understand how affiliate marketing can be beneficial for you.
Affiliate marketing is the same as it was in 1996 when amazon started its amazon associates program.
What changed is the strategies in affiliate marketing.
The big reason for the change in strategy was due to the change in traffic source.
In the last 2 decades, there is a surge in social media platforms that are considered to be one of the most sorted sources of organic traffic.
The lead player is not unknown to anyone and that is Facebook.
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Before we understand what affiliate marketing is, we must understand that most of the times you read, listen or learn about the definition of affiliate marketing, it is generally influenced by the most successful strategy implemented by the writer or vlogger. So there can be several ways you can be successful with this type of Marketing.
I have been building websites since 2008 so I know and been trying to do it for a very long time but I must tell you that doing does not mean that I was successful all the time. I have made a lot of mistakes and learned from them.
So, it is a business model in which you promote or refer a product which belongs to someone else and when that product is sold by your efforts (your referral or your link whose tracking is done by the affiliate program owners) you will be rewarded for that. The reward is generally some percentage of the sale value, for instance, you may get 50% of a sale value of software which was sold with your affiliate link. There are various ways by which you can promote the product like by making a tutorial of software on youtube etc.
Tip: Treat Affiliate Marketing as a business and as a business owner there will be a dire need to invest time in your business. Without the efforts, one will not see any results whatsoever in affiliate marketing.
Step 1 – The first and foremost is to create a page or a website or a video ( can be on youtube) so that you get the medium for people to reach you. The reason for making a presence is to collect leads or emails. In layman language, I can say to collect information about the customer and if it is a video it can be either for collecting information as I have mentioned above or directly sending the viewer to your affiliate link.
Step 2 – Once you have a presence online, you need to build trust and offer a value to your reader or the viewer. Generally in affiliate marketing terminology, it is called a Lead Magnet.
Step 3 – Once you get the information of your viewer or reader, you prepare yourself to send them the products you recommend. The recommendations can be in the form of emails, Facebook messages, Instagram posts etc.
Step 4 – When the link is clicked by someone he/she is taken to the product page where he/she can make the purchase. The affiliate program tracks the purchase.
Step 5 – Following step 4, the affiliate program pays you the commission after successful completion of the purchase which includes.
So, the above 5 steps constitute the affiliate lifecycle.
There are key things you have to keep in mind before jumping into the affiliate marketing world.
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To become a successful affiliate marketer one needs to ensure that he or she picks up the right affiliate program for him/her to be a successful affiliate marketing professional. The selection of niche is again an important factor for a successful affiliate marketing as a niche should be such that generates high rate conversion system. Also, it is important to drive your traffic to your funnel (TO GET FREE FUNNEL BUILDER CLICK HERE) so that you earn maximum commission.
Organic traffic is also an important factor in terms of getting approval from the affiliate system. Most of the times it has been seen that lot of applications get rejected because the applicant is unable to convince the affiliate program manager the ability to promote the product. There can also be a rejection of application if the program manager feels that one may use spam methods to promote their product. It is highly recommended to stay away from spam activities as one may permanently get banned from the affiliate program or from the industry if they get use illegal method to promote the product.
It is also important for being successful in affiliate marketing is to keep oneself updated with the latest trends and technologies and keep the funnel tune to the best performance and high return metrics.
With the above insights, I hope I was able to give you basic insights about what affiliate marketing is and what you need to do to be a successful affiliate marketer. Furthermore, there is a detailed post explaining more about affiliate marketing keys and strategies.