Simply stated, affiliate marketing is when an internet business owner markets another person’s product and gets paid a one-time or recurring commission each time someone takes a specified action. Many times that specified action is making a purchase, but a product owner or advertiser may also pay out money when you get someone to sign up for their email list or click on a landing page link. Affiliate marketing has become popular in the internet marketing community because it allows for mutually beneficial relationship where product creators can get more exposure for their products without having to do all of the work and marketers can get paid for selling products that they did not create. While affiliate marketing programs have their detractors, it is important to note that it has been a great starting point for many marketers, some who have gone on to create six or seven-figure affiliate marketing businesses.
Promoting As An Affiliate
If you promote someone else’s product as an affiliate, you will get paid every time someone buys the product through your link (or takes another action that the product owner has specified). In order to make sure that you get credit for the sales you generate, each affiliate often gets their own special link (which they can disguise with anchor text or a link shortener) that operates in conjunction with tracking software. Some marketers believe that this type of marketing simply isn’t worth it because you won’t usually get paid as much as you would if you had created the product (except in some top affiliate programs where you get a fifty percent or greater commission), but it can be a great place to get your feet wet in the marketing world without investing too much time and money on creating a product that may not convert well. If you choose to go this route with your business, here are a few tips to help you make it work:
1. Sign up for a variety of affiliate networks so that your offers are never limited.
2. Get to know the policies of each affiliate network and the boundaries for each product. If a product creator does not want you to do PPC or email marketing, you must adhere to that or risk losing your affiliate status.
3. Once you have made some sales, consider applying for a top tier affiliate marketing program. The pay is often better, but they also require some proven marketing experience.
4. If you aren’t ready to dive into product creation just yet, think about affiliate licensing programs. These allow you to purchase a license to a product so you can market a product as your own (with specific rules), which means you keep 100% of the profits.
Starting Your Own Affiliate Program
If you’re a product owner, you may want to consider starting your own affiliate marketing programs. This will not only help you get exposure and sales for your product, but it will give you a chance to work with other marketers to brainstorm strategies for improving your brand based on customer feedback. If you choose to do so, make sure you start slow with just a few affiliates so that you get a chance to test the system and refine it before you invite more people to promote.
Whether you choose it because it’s newbie-friendly or you’re a seasoned marketer who prefers not to delve into product creation, an Affiliate Marketing Business can provide a great source of income. Be sure to take it into consideration as you search for the perfect home