- Business and Employment
Making Money Online with Affiliate Marketing
Affiliate marketing is a quick and simple way to make money online by helping sell other people’s stuff. You can literally start from scratch, and make quick money online, without your own product, website or writing an ad, just by doing affiliate marketing.
To put it differently affiliate marketing is a lazy man’s way of making money online.
Affiliate marketing is one of the legitimate ways of making money online. I can assure you it is not a scam. In fact Affiliate marketing is one the easiest ways (if not THE easiest ways) for beginners to start earning money online
What is Affiliate Marketing ?
Wikipedia defines Affiliate Marketing as “an Internet-based marketing practice in which a business rewards one or more affiliates for each visitor or customer brought about by the affiliate's marketing efforts.” In other words you get paid money each time you refer somebody and they buy something.
In order to be an affiliate for other people’s products, you must join an affiliate network, or the company’s affiliate program directly if they run one in house.
Affiliate networks are online companies which act as intermediaries between affiliates (also called publishers) and the product owners (otherwise known as merchants). They facilitate the task of finding suitable affiliate programs for affiliates (publishers). All the affiliate networks I know are free to join.
There are several reputable affiliate networks which you can join for free.Some very popular ones include:Commission Junction - www.cj.comClickbank - www.clickbank.comAffiliate future – www.affiliatefuture.co.ukAffiliatewindow - www.affiliatewindow.comPaydotcom - www. paydotcom.com
How to become a Super Affiliate
In order to make the most money out of affiliate marketing, there are certain best practices you need to follow. I will outline these below:
Identify and pinpoint the correct market with a purchasing power.
That is to say you seek a target group of people who already want to buy – you need to find a niche and sell to the niche.
A very practical way to do this would be to find people who are already seeking for products to solve their problems. You can find ready and willing buyers by using qualifiers like: “learn” , “buy”, “find”, “how to” , “what”, “get rid of”, “cure”, etc in keyword research tools.
A keyword research tool (like Google’s free keyword tool) will tell you exactly what these people are searching for.
Once you’ve got this information ask this question:
“What do these people want more than anything else?”
if you know a company that is selling such a solution, then join their affiliate program and start promoting their products to the niche.
Build a list
You should create a list of potential customers in each niche you are serving and market relevant products to that list. The advantage of having a list is that you can cross sell similar products to your list or market other products to the list at a later date.
One easy way of building a list is to create a website, where you give a free gift in exchange for name and email addresses.
Only promote promising products.
You can’t and shouldn’t try to promote every product. Only promote products that are worth your time and effort. Only promote the best paying products for which there is a market.
Notice that there are two factors to take into consideration here – reward & size of market - for example if you are promoting Click bank products, use the 30/100 rule to pick products to promote.
Let me explain, pick products with a payout of $30 or above and a gravity of 100 or above. The gravity gives you an indication of the number of buyers.
Affiliate Marketing Tips
Try as much as possible to promote products which you’ve used yourself.Apart from screening the products, you may also want to vet the seller based on the following criteria:
- Sales/offer page quality,
- Availability of promotional material.
For each product you promote, you must be able to answer the questions:
- “what problem does the this problem solve" ?
- “what needs does the product/service fulfill ” ?
If possible look for products that pay recurring commissions.
This is just a simple introduction to affiliate marketing for beginners, in order for you to fully profit from the huge potential of affiliate marketing and be able to make the very large sums of money you hear of, you need more education than what is contained in this simple introductory guide.
It’s easy to earn very large sums of money from affiliate marketing if you know what you are doing. There are courses out there which will do a very good job of educating you on affiliate marketing.
It’s important that you learn the nuts and bolts of affiliate marketing from these courses before you jump right in. Otherwise you might not make any money or worse still you will get burnt.