Today we will show you all about earning money with affiliate marketing, and how this business has become a pivotal element of the online marketing industry. Internet which became available to the public in the 1990s has enabled the emergence of several billions dollars industries. Early pioneers in e commerce and online payment like Amazon and PayPal respectively knew how to seize the opportunities. Eventually as the internet was democratized over the years, there were more companies which had an online presence. Some were traditional companies who shifted online to surf the wave of technological changes.
Others were new online companies which popped up as a result of the growing demand for business support services from established online companies. One highly demanded business support service is online advertising and which is deemed crucial for many companies. Affiliate marketing is one type of online marketing which play an important role in the e commerce ecosystem.
Earning money with affiliate marketing – What is it like?
Affiliate marketing is a type of online marketing where the marketer earns a commission by generating traffics or leads to a company’s products or services. The individual or company generating traffics is also known as publisher/affiliate. The affiliate marketing business model usually involve 3 parties; the merchant, the publisher and the customer. The publisher usually promotes the merchant’s product by creating contents generating traffics which turn to be potential customers.
Affiliate marketing is often claimed as a winning situation for all the parties concerned. The publisher(or affiliate) educate and inform the potential customer about the benefits of the merchant’s product, through the contents he generates. This can be in the form of a blog article, a video, an instagram page, a podcast or even through ebooks! Therefore while earning money with affiliate marketing when generating a sale, the publisher help the customer make a judicious purchase worth his/her hard-earned money. Furthermore the merchant get his producr sold and earn some profits.
Usually leads generated by affiliate marketers have a very high probability of converting into a sale. This is because one of the cornerstones of affiliate marketing is organic traffics. This is when visitors discover the affiliate marketer’s website while using search engine like Google or Bing to find things in which they are interested. The website will usually contain curated unique contents about the things (or products!) which searched for, and be listed on the search engine result pages. Hence affiliate marketing is like some sort of funnel which generate sales leads with high conversation rate.
The biggest advantage for this type of marketing is that you may start with very little or no money at all! If you start a blog promoting specific products you may only need to pay an annual fee for the domain name and website hosting
How affiliate marketing is boosting the ecommerce businesses
It has been proven that affiliate marketing can boost sales in any industry like healthcare, sports equipments, consumer electronics and books. Moreover statistics show that it generates 16% of global ecommerce sales. As per Mediakik, a leading influencer marketing agency, 80% of brands around the world use affiliate marketing as part of their sales strategy. Statista has forecasted that the affiliate marketing industry will generate around $8 billions of sales by 2022.
All these things show how affiliate marketing became prominent industry and gained credibility. With the advent of new online platforms like Instagram, facebook, youtube and tiktok , there are more people starting to become an affiliate marketer to generate extra income.
A new form of marketers
The affiliate business has also encouraged some new form of marketers; social media influencers! They are individuals who are very popular on social media platforms, sometime having hundred thousands or millions of followers. Influencers are very active online and include bloggers, instagram users and youtubers, they can easily generates sales leads by promoting products to their followers, usually through great visual impacts.
Over time affiliate marketers have refined and improve their marketing methods; today many of them focus on specific niches. Niches are specific target market and can be on any topic; chocolate, coffee, heathcare, wine etc. The affiliate marketer will promote products of a niche he has chosen through different contents; product reviews, blog articles and promotional videos.
Is earning money with affiliate marketing difficult?
Nowadays there have been many technological advancement and earning money with affiliate marketing is not complicated.There are many resources available and your many website hosting providers allow you to create your brand new website in a few click.
Moreover almost every brands provide affiliate program for their products, one trick I use to find a new affiliate program for my nice is to google the product together with the words affiliate marketing
An even better way is to join affiliate marketing networks which give you exposure to many difference programs. Networks like Shareasale, Commission junciton and Clickbank act like a platfrom berween merchants and affiliate marketers. This make things more interesting as they help you centrally manage your affiliate programs; from application to join the program, providing marketing materials like banners, to payment of commissions.
The giant of online retail, Amazon, also offfer have an affiliate programs giving you the opportunity to market miliions of products. An average affiliate marketer can earn around $1,600 per month, however those who are very serious at it can earn astronomical amounts. For example Pat Flyn a famous affiliate marketer scaled up his earnings from $8000 to $100.000 a month!
Though many facilities are available, you will not start money instantly when starting affiliate marketing. It requires a bit of patience; you have to create unique contents that will be ranked on search engines and attract visitors. With new algorithm developed by search engines like Google ensure that high ranked are quality contents that benefits the visitors. If you are a hard worker, consistent and perserverent you will definitely stand out and become an authority in your niche.
I personally find that earning money with affiliate marketing is genuine and achievable. For many online entrepreuneur it has been a way to start their online adventure, it provides passive income which lead to financial freedom and generates extra funds which can be invested elsewhere.Futheremore it is one of the most affordable lucrative business model that needs around 95% sweat equity and 5% of money investment. And finally you can chose a niche about which you are interested about, which make the work become more pleasant!
If you are dreaming of financieal freedom and looking for a business idea, now is the time to start affiliate marketing!
I hope you enjoyed this article and will be glad to hear about your views on earning money with affiliate marketing.