Affiliate marketing is scarcely a new thing under the sun, it has been in existence ever since money and products were made. If your goal is to make good money then you would like to take your chances with affiliate marketing.
These days, it has merely taken a new form of manifestation like every other thing in line with evolution. The internet made affiliate marketing go completely remote with the potential of earnings ranging from nothing to unlimited potential.
Few facts about affiliate marketing
- It is not expensive to finance
This is because a huge amount of the work you do as an affiliate requires absolutely nothing to start. Asides from money spent on data for marketing, which isn’t such a big deal considering you get rewarded with decent commissions.
- Focuses on marketing
Marketing is something a lot of businesses fail to take seriously until it becomes a dire need, so if you consider building a startup in the nearest future, affiliate marketing is a great way to hone the skills of marketing and make handsome cash along the way.
- Flexible work hours
In affiliate marketing, there are no rigid work hours, you get to drop off and pick up where you left whenever you want. The amount of money you make is reliant on the amount of smart work you put in, so you determine your fate.
There are a lot of reasons to dive into affiliate marketing but this should be enough to spike your curiosity on the subject of discussion.
What is AFFILIATE MARKETING?
Affiliate marketing is a form of marketing or advertisement where you get compensated for publicizing someone else’s products.
This is usually done with the use of unique links or codes which are given to you (the affiliate) for the purchase of a product from the company. You then get a commission whenever your links or codes are used to make a purchase.
At the end of the day, the customer is pleased, the vendor (company) is pleased, the affiliate is pleased.
It’s as easy as that, zero stress and a fatter bank account on your end.
See also: Making millions with COMPOUND INTEREST
How does it work?
As I earlier said, when you sign up to be a brand affiliate to a vendor, you get a link or code which is unique to you alone. All purchases made through the link gets you an agreed commission.
However, the link contains a code that helps track the origin of the clicker (potential customer or interest party). After clicking the link, a cookie is saved on their browser.
This cookie helps to indicate to the vendor that the customer came from you and it also lasts for a few days on the customer’s phone, just in case they come back a few days later to make the purchase.
The beautiful thing about the link and cookie relationship is that you still get a commission if the person ends up purchasing another product with that same link.
For instance, Timi clicks on your affiliate link and purchases items worth 1,000. If your affiliate commission was 10%, I just made 100 off Timi’s purchase.
How much can be earned from affiliate marketing?
I’m sure a lot of people have this question lingering somewhere on their minds, it’s a valid one.
The amount you can earn from affiliate marketing is relative to how much work you put into building the right audience.
An audience can be built through organic and paid systems of marketing, but for beginners, it’s money-wise to approach affiliate marketing through organic means.
Organic audiences are built through immediate contacts and mutuals.
How to start affiliate marketing?
Decide on a platform
While affiliate marketing can be done on a variety of platforms, it’s better to start with one then expand your reach as far as you can.
Remember, No limits.
After setting up a platform (could be Facebook, Twitter, and the likes or even a blog like Insideye), OPTIMIZE it… this means you would need to make it look as professional as possible, while your content remains customer-oriented.
Remember, you’re not selling a product, you’re merely giving them options.
Pick a product niche
If you’re not familiar with the word, a niche is an area of specialty. Although, It’s better if you already had a niche or an interest you were willing to make money from, nevertheless make sure you have one in mind before going further.
- Pick a niche you’re passionate about: This will stop you from giving up during periods of low earning. Especially if you have to grow an audience from almost none at the beginning.
- The niche must be a profitable one: There are millions of profitable niches out there, you don’t want to be undecided because you’re blinded by how much you can make from each one.
- Find medium to low competition niches: The goal of affiliate marketing is to make money through other people’s products, but you don’t want to be competing with big brands that work broad niches.
For example, the Health niche is bound to be a saturated one. Instead, break it down to something easier like the health supplement niche. Remember, your goal is to have a good piece of the cake, not to steal the cake factory(which would be impossible for a beginner).
- Solve people’s problems. The more problems your content and products solve. The better you perform.
Some affiliate programs and How to pick the best one for you
- Amazon associates
- Jumia Kol program
- Commission junction
- ClickFunnels and so on.
Due to Amazon being the largest e-commerce store on earth, it’s only normal for them to have a personal affiliate program(amazon associates).
They offer up to 10% in affiliate fees from individual purchases. It is also quite easy to sign up for their affiliate program. After registration and depending on how well you perform in the first few months, you are issued a certification from Amazon.
Jumia Kol program:
Formerly known as the Jumia affiliate program, operates as the largest e-commerce store in Africa. They deal in physical products and offer their affiliates up to 13% in affiliate commission.
JVZoo affiliate program is known for partnering with small businesses to market software and other online programs via affiliates. They payout via PayPal and Payoneer.
This is a Nigeria-based affiliate program for Nigerians (or anyone living in Nigeria). Expertnaire allows her affiliates to market various digital courses and also offers very high commissions up to 50% per purchase. The commissions are paid directly into the affiliate’s bank account.
This platform is a sales funnel that can be used to promote anything. ClickFunnels is an all-in-one platform. They offer up to 40% in affiliate commissions.
How to pick the best affiliate program for you
Firstly, know their commission percentages. Various affiliate programs offer a different percentage of commission so you want to make sure you are getting enough value for your work.
Secondly, pick an affiliate program that has the type of content you want, which could be digital(e.g courses, ebooks, software, and so on) or physical products(e.g clothes, accessories, and so on).
Some companies have their affiliate programs(e.g Teachable has various courses). So if the courses you’d like to be affiliated to are sufficient on such platforms. Then go for it, If not keep searching.
Another easy way to find the right affiliate program for you would be to simply google your niche + affiliate program.
For example, “Finance + affiliate program”
This would give you more specific results of such affiliate programs.
Affiliate marketing is one of the best ways to make money both online and offline, with a rapidly growing fanbase. I hope you found this post useful in getting clarity on affiliate marketing and how to start your journey.