Affiliate Marketing – It is one of the oldest methods with the help of which you can generate passive income sitting at home. In affiliate marketing, an online retailer pays you a commission for traffic or sales generated from your referrals. Let say Amazon that offer affiliate links, you share and if people buy from the referral links, you get your commission.
Here is how affiliate marketing works
- You recommend a product or service to your followers on social media, website, email list etc.
- Using your affiliate links, your followers purchase the product or service.
- The company pay you a commission for the sales made using your affiliate link.
Step by step guide to making money with affiliate marketing
Different types of affiliate programs use different payment terms:
- Pay Per Click (PPC) – based on the number of visitors redirected by your affiliate site to the advertiser’s website, you make money.
- Pay Per Sale (PPS) – The advertiser pays you a percentage of a sale whenever a visitor buys something with your affiliate link.
- Pay Per Lead (PPL) – You get paid when a visitor provides his/her contact info on the advertiser website.
To be successful in affiliate marketing, follow the following steps:
- Feed your website with high-quality content – High-quality contents get high ranking positions and raise awareness.
- Attend affiliate marketing events, seminars or webinars.
- Discussion forums or online communities are a great place to share affiliate links.
Choose attractive products that are unique, profitable or can reach large masses. To make money as an affiliate, you need to understand market needs and desires. According to that, place your products.
How to make your first sale?
Making your first affiliate sale though is very exciting, yet is a very difficult task to do. You need to follow the below steps that will surely help you.
- First of all, you need to understand your niche and audience. Understand the emotions and trigger points of your audience so that they will buy from you.
- Start with something you love the most, example: electronics gadgets. Go for diverse niche once you are done with one niche.
- Initially, just go with best traffic sources like Instagram and Facebook. You can make some decent sales if you have a good number of followers.
- Start writing blogs. It is one of the best and easiest way to share your affiliate links. It though takes some time to reach to the peak point but is highly profitable with high traffic.
Affiliate marketing is a great method of earning money online by selling products on online platforms where you can gather your audience. It has a very good future as lots of organisations will eventually adopt it soon. To gain success in the field, you need to understand the market, how products are promoted, and understand how it works.