It’s everyone’s dream to make money whenever and wherever they want to while doing the absolute minimal thing.
Well…there is a way that you can make consistent money without a lot of stress and hassle and no…it’s not scam or yahoo.
It’s simply Affiliate Marketing.
A person who is normally known as an affiliate marketer makes a decent commission for marketing someone else’s products. You don’t have to be involved in the creation of the product or service but, you still get to make money from it.
Amazing isn’t it? All you have to do is use your influence and authority to market the products to your already existing audience and if you are convincing enough to get people to buy what you’re marketing, you gain a commission.
What is Affiliate Marketing?
Affiliate marketing is a process of digital marketing which involves a party referring products or services to their target audience in the hope of making a decent commission.
The person/party who markets these products/services is known as an affiliate and they will naturally earn a specific commission each time they successfully market a product to people.
Still a bit confused? No problem.
Read on to know exactly how it works.
This Is How Affiliate Marketing Works
For Affiliate marketing to work, there are individuals that are present in every step.
These 3 parties involved are;
There is no affiliate marketing without a seller. They are the products creators and the first step stage to affiliate marketing. The seller could be a normal online vendor, a one man entrepreneur, or a really big enterprise. The products or service could also be anything.
During the period of the affiliate marketing, the sellers don’t be assume have to be a part of the marketing campaigns since they are counting on the affiliates to do the job.
For example, the seller could be an ecommerce merchant that started a drop shipping business and wants larger target audience by paying affiliate sites to promote their products.
The second party involved is the Affiliate. An affiliate, like was earlier described is the main individual who markets the products and services of the seller and in the end makes a commission based off the products they sell.
An Affiliate is the gum that holds every aspect of Affiliate Marketing together. They are also sometimes known as influencers because they influence individuals to get the product or service that they want to sell.
The Affiliate is responsible for product promotion and they also have to make sure that they are convincing enough to sell to people.
Affiliates normally already have a specific audience or defined niche which might resonate with the brand they’re marketing for. This makes it an easy process for them to reach the target audience and boost sales for the brand.
Finally! This is the last party involved in Affiliate marketing.
Look at it this way, what’s the point of a seller and an affiliate without a consumer? A consumer is the person that the affiliate markets the products to in hope that they are sold enough by the benefits to want to buy it.
The consumer makes the sales and helps both the affiliate and seller realize sales.
The affiliate will market the product/service to consumers through the necessary channel(s), whether it be social media, a blog or a YouTube video, and if the consumer feels like the product is valuable, then they can follow the affiliate link and checkout on the merchant’s website.
Now that you have gotten introduced to the 3 parties involved an Affiliate marketing, there is one tiny but important thing that you should note;
As an affiliate marketer, you must let your customers know that you are receiving a commission for each product they buy.
This has been stated clearly by the FTC Federal Trade Commission which states that
‘An affiliate marketer must clearly and conspicuously disclose their relationship to the retailer, thus allowing the consumer to decide how much weight to give your endorsement.
This gives your audience as an affiliate marketer a choice. For example if you are an affiliate marketer for a brand and your audience has a negative opinion on the supposed brand, they will most probably not buy any products you advertise to them no matter how much they trust your judgement as an affiliate marketer.
This way, your customers are able to make more informed decisions as opposed to being left in the dark.
Types of Affiliate Marketing
While various kinds of affiliate marketing might exist, for the purpose of these content, there are just 3 kinds of Affiliate Marketing.
1. Unattached affiliate marketing,
2. Related affiliate marketing,
3. Involved affiliate marketing.
Let’s go over each one now shall we?
Unattached Affiliate Marketing
This is a kind of affiliate marketing where the affiliate has no relationship with the product or service that they are promoting.
They do not have an already existing target audience for the product, their niche has absolutely nothing to do with the product and they have no related skills on the product that they’re advertising.
This means that when speaking or influencing for the product, they will not be seen as having authority because they are removed from it. This is an uninformed form of affiliate marketing.
They do not advise or recommend the product to anyone personally, they only market it and leverage their platforms to promote it. It’s an almost impersonal form of marketing and it is mostly used by influencers with large followings who have no specific affinity for the product or service.
Related Affiliate Marketing
Just like the name suggests, Related affiliate marketing is a kind of marketing where the affiliate has a relationship with the product or service that they are marketing.
The affiliate has a thorough understanding of what they’re selling to their audience and most times also have an already existing audience that they will sell to.
This connection to the products establishes them as an authority and a trusted source which will likely spur the target audience tot take action and get the product.
Involved Affiliate Marketing
This is a deeper form of the related affiliate marketing. The individual involved has a really deep connection with the product that they’re marketing.
They have most likely used the product or service or are currently using it so they have a more personal relationship with the brand.
An example is skincare bloggers who promote specific skincare products that they have used. People will naturally believe them more because they have used it and can testify to the benefits.
Their experiences with the products/services are the advertisements, and they serve as trusted sources of information.
On the flip side, Involved Affiliate marketing can also be damaging for an affiliate’s reputation if the products that they are promoting based on their personal experience is problematic.
How Do I Become an Affiliate Marketer?
If you decide that you want to become an affiliate marketer then there are some things you should take into consideration first.
You have to consider the platform you will use to promote products and/or services. Blogs are an effective channel for advertising and promoting as it allows the blogger, serving as an expert, to express an opinion about the offering.
After identifying a platform, find a specific category that you are comfortable with or interested in. A focused segment can better help you attract a dedicated consumer base. Research affiliate programs and choose one or more based on your needs, whether it be earning high commissions or generating more traffic. Lastly, develop solid and interesting content around the offerings and work to increase traffic to your site.