What is Affiliate Marketing?
Affiliate Marketing is a process of promoting another person’s company and earning a commission. You can choose a product from another person and promote it in your circle and you can get commission when the product is sold. It is similar to a sales person but you don’t work for the company but you will suggest a customer to that company. The best part is you don’t need to have your own and only product, you can work for many products from different people.
How does Affiliate Marketing Work?
Let us know how affiliate marketing works in simple steps.
The three main contestants in affiliate marketing are you, your company and the affiliate. The affiliate is nothing but the company you’re working for. You can work for one or more affiliate companies and promote their product. There are many difficult affiliate markets that provide ways to earn more according to the product. You will have a separate affiliate link for each product you can share it to your audience if they purchase through your link then you will earn commission for that product. Many companies have different names for the program such as partner programs, referral programs etc…
By using this process all the three members can earn profit first from the customer, By your recommendation they can get/learn new ideas/products that may be useful for them. Then the company will get a sale through many new customers. It will expand the circle and get more profit. Then you will automatically get commission from the company for the product/idea.
Affiliate marketing strategies
Create unique posts
The important thing in Affiliate marketing is to expand the circle for that you need to post some unique post so that customers can visit the page and see what you have posted. You need to post all the details. Your website should be one stop solution for all the questions of the customers. If you post all the details in your website people may share it to their friends and you may get more visitors. So have a unique and informative website.
Create more videos
The unpopular opinion is reading a text is less attractive than watching a video. So make more videos and post them on YouTube because it is one of the best search engines in the world. You can get a lot of traffic in YouTube. Make sure you should add your affiliate link below the video. You can record yourself explaining about the product and make a note it must be a short video and add the relevant keywords.
Host a Webinar
To take your affiliate product to the next level host a webinar for it. Hosting a webinar is the next level because it is live and you can answer the customers questions directly and they don’t have a feel of watching a video, they can have a feel of face to face interaction. You can have an owner of the product and explain the FAQ and clear the doubts then you can earn more valid customers.
Give away bonus
This is one of the powerful ways to attract people. In addition to promoting the affiliate product, run a giveaway for those who purchase the product through your link. You can also give an additional coupon code for some specific people so it will make them purchase again through the coupon code. It will also create trust and help to expand the circle.
Benefits of Affiliate marketing
1) Affiliate marketing is easy to start because it doesn’t need much investment. Most of the affiliate programs are free to join. You don’t need to track till the last process, you can just connect the customer with the company so you don’t have that much responsibility.
2) You’re not the owner of the product so you don’t need to worry if the product is not sold. So, there will be low risk.
3) It is a passive income so you don’t have any pressure, Affiliate marketing provides the potential for passive income.
4) You’ll have more freedom to work, when you start earning passive income you can from anytime and from anywhere at your own space.
Drawbacks of Affiliate marketing
1) It will take more time to generate the trust of the customers so you need to wait for more time to get the income.
2) You don’t have any control of the product you’re recommending, so you don’t have any idea about the quality of the product.
3) You have to do more homework before selecting the affiliate company because not all affiliate programs are done equally, some of the companies may not pay what they said.
4) You need to check your affiliate link because there is more risk of link hacking, Some may hack your link and get the commission for the product you sold.