WHAT IS AFFILIATE MARKETING?
Affiliate marketing is a billion-dollar industry. It’s huge
and growing.
Essentially, you promote products on your website, YouTube
channel, social media profile, etc. If one of your readers/viewers/followers
clicks the link and makes a purchase, you make a commission. It’s a very simple
concept but it’s not necessarily easy to be successful.
First, you have to have a website, YouTube channel, or
social media following. Then you’ll need quality content to attract visitors to
your site, channel, or profile.
And, in order to make any of that work, you’ll need to know
your target audience, pick a niche, and drive traffic to your links.
Overwhelmed? Don’t be.
These blogposts in a series of 5 will break down everything
you need to know to be successful and profitable using affiliate marketing.
HOW DOES AFFILIATE MARKETING WORK?
The global affiliate marketing industry is currently valued
at over $17 billion and by 2027, it is expected to grow to a size of $27.78
billion. For more information on
affiliate marketing spending in the United States, see Statista.
So there is certainly money to be made in the affiliate
marketing space.
The only way you can grab your share of that market is by
knowing exactly how affiliate marketing works and how you can position yourself
to get maximum results.
Affiliate marketing is really a simple process:
● You show
an ad or provide a link to a product sold by a store/brand.
● A customer
clicks on your link (which is unique to you so the brand knows who to send the
commission to.)
● The
customer makes a purchase using the link.
● The
affiliate network records the transaction.
● The
purchase is confirmed by the brand.
● You get
paid a commission.
Commissions can range from 5% to 50% depending on the site
and the product. Some companies will offer a flat rate.
As with any business, affiliate marketing requires hard work
and dedication. The more work you put in, the more you’re likely to get in
terms of profits. There are many people taking advantage of affiliate marketing
who are making five figures per month.
But there are also those making less than $100 per month.
Your dedication will determine your income level.
IS AFFILIATE MARKETING WORTH IT?
So many people make the decision to try affiliate marketing,
only to never quite reach the level of income they’d hoped for. This is mainly
because they don’t take the time to fully understand how it works and the level
of commitment it takes to be successful.
The truth is that affiliate marketing is worth it but you
have to be willing to invest in educating yourself.
Why is it worth it? Here are a few reasons:
● You don’t
have to create a product. Creating products is risky and time-consuming. You
have the advantage as an affiliate of choosing products that you know work,
that you believe in, and/or match up with your values.
● You don’t
have to pay any fees. There are generally no fees associated with becoming an
affiliate and you have virtually no overhead, so what you make is what you
keep.
● You don’t
have to deal with customers. Some of your followers may ask a question here or
there but generally, you don’t have to deal with any customer-related issues.
● It’s fast.
You don’t have to spend weeks or even months creating a product to market and
sell. You can simply post to social media, write a blog post, or send an email.
Just be sure to include your affiliate links.
● It’s
profitable. If you create your own product, you have a set amount of overhead
costs, like product development, marketing, and so forth. With affiliate
marketing, you get to keep everything you make.
● Work when
you want. You aren’t beholden to any clients. All you have to do is create
content with those affiliate links.
