How to Start Affiliate Marketing?
Earning Opportunities are high in Affiliate Marketing!!!
Many of us come across the buzzword “Affiliate Marketing” and lots of webinars are there and they conveyed that we can easily make money without any prerequisites.
Is it true?
What is affiliate marketing?
You can earn money as a commission for promoting the products or services of someone. It is completely performance-based marketing and your earnings depend upon how much traffic you able to drive for their business.
From a merchant point of view, they always want to expand their market and increase revenue through multiple resources.
Affiliate is one such resource that helps them to get more business. Based on the additional sales generated by the affiliate, the merchant paid the commission to them.
If any individual wants to start a business and build a brand, it incurs a huge investment of money and time.
Instead, if they choose to act as an affiliate for someone, they can earn money easily but not immediately for beginners.
How big the affiliate market is?
Affiliate marketing spends in the US alone is going to reach about 8.2 Billion US dollars by 2022 (Source: research expert A. Guttmann)
In India, there is a growth of about 30% every year and it is the next big thing in the future to boost the marketing and sales for established giants as well as newcomers.
How does Affiliate Marketing work?
Both of the below models exist in the market and it depends upon the company and their policies.
- Merchant Networks Affiliate Customer
- Merchant Affiliate Customer
How to become an affiliate?
You can approach a network or a merchant directly to enroll in an affiliate program. Before you approach them, you must have a strong digital presence to attract and influence a set of audience.
To understand this digital presence in a better way, the below scenario will give an idea.
If you are interested to watch movies, then you can create a blog and write a review about the movie.
The way you narrate is supposed to be likable to many visitors, initially, you have to drive traffic into your blog either in an organic way or you can spend money to reach your targeted audience.
Slowly you can build your audience. If any new releases the audience will visit your blog and spread a word a mouth about your review and you get a new audience to follow up and it will grow.
Now you can choose a product to promote and embed affiliate links in your content.
Many organizations will support you with large creative inventory such as demo videos, banners, and copy examples designed to help you earn the most commission possible.
How you get revenue is the other question right?
It depends upon the company and how they offer you at the time of sign up for the Affiliate Program.
Cost per Click (CPC): If the audience gets attracted by the link and clicked it, then they directed into your partner website and you helped them to create traffic to their website. They pay for it as per the terms.
Cost per Action (CPA): If the Click helped your partner for conversion as a sale, this action will generate revenue and as per the agreement you will get your commission.
Recurring: Commission is paid again and again in this model as the name suggested. If the reference link converts into action and sale is made under subscription type then for every renewal you will get a commission.
If you promote hosting services, then every year they will renew and commission you will get accordingly.
Could I summarize the steps involved?
Blog Writing
Promoting a Blog
Build an audience
Sign up for affiliate Program
Create content to promote a product
Optimize and track the audience and their actions.
Get Paid
To get a lump sum amount into your account, you need to work hard with proper mentoring and clear directions.
Patience is highly required during the process and it is a continuous journey.
If you are ready for this then you can earn a regular income.
How much can you earn from this?
Rs 5000 – Rs500000 and more, it depends upon how much you involved in the business.
Budgeting: Promotion always helps us to penetrate in the market.
Just to understand in a better way, all of us have experience with coupons and their offers.
Normally if we buy through coupons, the offer is high but we purchase it directly the price might be slightly higher than the offer.
The promoter is ready to share his revenue with the customer from the commission they get from the partner.
Offer to the customer + Promotion cost should be lesser than the commission we earned, there is a chance if the expected sales not happened as per the plan then the budget will go high and chances are there for incurring losses.
So complete understanding of the nuances of Affiliate marketing is a must before we sign up for the program.
Earning an income through affiliate marketing requires
1) Deep research on Products
2) Understanding Web Traffic Patterns
3) Interest of the Followers
Who are the Key Players in Affiliate Marketing in India?
Who are the key Global Players in Affiliate Marketing?
Who are the top affiliate Marketers that you should follow?
In our next article, we are going into deep about these key players and marketers and how they got success in this platform.
Following the strategies and their experiences will give you a clear picture of how to move forward to earn a passive income from Affiliate Marketing.
Now I ask the First question again
Is it true? We can earn money easily in Affiliate Marketing?
Opportunities are high and wide but the way needs to be finding out.
Under clear mentoring, you can start to earn
Are you ready to learn and earn more?
Give your comments below……