What Is Affiliate Marketing
Let’s begin with the broad definition of affiliate marketing. Affiliate marketing is one of the oldest marketing practice which gains affiliates a commission in the case of sale based on the affiliate’s recommendation. It is one of the cheapest and easiest ways of marketing as you don’t need to create and sell a product. Just one thing you need to do is to enable a linked connection between buyer and seller and take your commission when the sale is made.
Many online companies that sell shoes or domain services offer an affiliate program. By signing up for the program, get your unique tracking link and use this link whenever you write about their product. There are different affiliate programs that use different payment terms.
Pay Per Click (PPC): You make money online based on the number of visitors redirected by your affiliate site to the advertiser’s website.
Pay Per Sale (PPS): You make money online when the purchase is completed. The advertiser pays you a percentage of the sale.
Pay Per Lead (PPL): You make money online when the visitor provides his/her contact info on the advertiser website.
How To Make Money In Affiliate Marketing
As you see, affiliate marketing is a passive income source. It is highly competitive as well as being easy to make money online. To be successful, you need to learn what works and what doesn’t while promoting your products.
There are many affiliate marketing works. So, you need to be patient. You can feed your website with qualified content to get high ranking positions and raise awareness, attend affiliate marketing events, seminars or webinars and join a discussion forum or online communities to meet new people. All make a great contribution to develop you.
Choose More Attractive Products
It would be a definite mistake to promote everything by registering with different affiliate programs. You can’t focus on each of them deeply and the result would be a disappointment. Instead of promoting everything, just promote a few products which are unique, profitable or can reach large masses. So, you need to understand market needs and desires and place your products accordingly.
Use Several Traffic Sources
The chance of making money online raises together with the more traffic you send to the sales page. It is not wrong to run ads on just own site, but it has some missing points. The best example belongs to Google Adwords. By making an ad in your Adwords account, your sales page gets targeted traffic from various channels.
Attract Targeted Traffic
The core function of making money is to push people to click your affiliates’ links. So, you need to attract visitors. There are four ways; paid advertising, free advertising, article marketing and email marketing.
You need to combine ad copy, graphics, and a link effectively on paid services like Google AdSense in paid advertising while placing links and advertisements on free websites like Craigslist or US Free Ads in the free advertisement method. Payment methods of both of them are PPC, that is earning money regardless of whether a reader buys the product or not.
For article marketing, you need to have a higher ranking in search engine results to be a credible source. There are many article submission websites like Ezine Articles. As a marketer, you submit your article and affiliate marketers republish your article. The marketer who published the original article gradually earns higher search engine rankings. For email marketing, affiliate marketers embed an email subscription option for website visitors.
Test, Measure, and Track
Testing any action and measuring the performance help you exploring what works and what doesn’t. According to tracking results, change or keep your actions. For example, your banner ads aren’t gain you much. So, try to be placed them in different areas and compare and contrast all results. Sure, some places earn you more.
Research Product Demand
If you remember, I said “understand market needs” at the beginning. Let’s deep into this step. If you have decent traffic, view your daily, weekly, quarterly and yearly traffic and sales chart in order to explore customers’ behaviors and choices. If not, spend a time to find out how the product you are thinking to promote meets users’ needs.
Follow New Methods and Techniques
Digital marketing trends are very dynamic. So affiliate marketing is. Try to be updated with the latest techniques and methods to be successful in a competitive environment. Getting out of date results in falling behind while staying up to date results in utilizing new techniques.
Select The Right Advertiser
The quality and service of your website are as important as the advertiser’s website. If your visitors become unhappy and dissatisfied after purchasing the product you advice, they think nothing of taking your advice, again. I mean it hurts your credibility. So, focus on choosing the ones that offer good customer service while promoting the person or company.