What is it?
Affiliate Marketing today is a growing performance-based marketing method in which an online retailer pays a commission, to an affiliate or publisher, for each customer brought by the affiliate’s own marketing effort. There are many forms of Affiliate Marketing, such as Pay per Sale, Pay per Click, and Pay per Lead. Here we will discuss the most common form of Affiliate Marketing which is Pay per Sale.
Is Affiliate Marketing for me?
It really depends on your personal situation.
– If you are in a dead-end job with no expectation of advancement and want another source of income to supplement your income now and may become your full time job in the future.THEN AFFILIATE MARKETING MAY BE FOR YOU .
– If you want to be your own boss, not tied down to a fixed schedule in a dreary 9 to 5 job. If you want to work from anywhere. If you want to have your own business and are willing to work hard. THEN AFFILIATE MARKETING MAY BE FOR YOU.
– If you are young and ambitious. You see young entrepreneurs standing by luxury sports cars in YouTube infomercials. You want to have what they have. You want that lifestyle. THEN AFFILIATE MARKETING MAY BE FOR YOU.If you are this person,you do not like to wait, so click here
– If you are a Senior. Retired after a long career, but your egg nest is not sufficient to insure comfortable golden years. You want to supplement your income but do not want to work full time away from home.Maybe you must take care of your spouse at home, or you do not have the energy to deal with a daily commute again. You only want to work part-time and on your own schedule. You are retired but still want more out of life. Maybe your own business? THEN AFFILIATE MARKETING MAY BE FOR YOU.
Pros of Affiliate Marketing
These are some benefits of Affiliate Marketing.
– Your own business that can be started quickly and at low cost.
– Your choice of products to promote. You are not locked into a specific market niche. Contrary to brick and mortar stores, you can try different market niches until you find the right one for you.
– You do not need to maintain an inventory of products or deal with customer complaints.
– You do not sell a product, you recommend it. Liability stays with the seller.
– Performance based rewards. You work at your own pace. Rewards, commissions, depend on how hard you work.
– Earning potential is limitless.
– Work from home, or from anywhere as you wish.
Cons of Affiliate Marketing
– You must learn the necessary basic skills such as:
How to build a website.
How to generate visitors, or traffic, to your website
How to monetize your website.
– You need to be able to write well, in order to become an authority and develop a following of potential customers.
– You must be knowledgeable in the products promoted.
– It takes time to build a business. It is not a get-rich-quick scheme.
– It requires dedication, hard work, and persistence.
Affiliate Marketing – A Fast Growing Opportunity
Affiliate Marketing is a win-win situation for both the Manufacturer or Seller and the Affiliate.
The seller benefits from expanded marketing and wider distribution of its products at minimum cost. The seller only pays a commission on sales generated. The only expense is for advertising materials supplied to the Affiliate and the sales tracking system.
The Affiliate benefits from the commissions he receives when his recommendation results in a sale. But without the investment required to sell its own products online or from a brick and mortar store.
This win-win situation is one reason for the phenomenal worldwide expansion of Affiliate Marketing.
Affiliates typically have a very specific audience, or micro niche, to whom they market. Because the Affiliate is generally viewed as an authority in their niche, they are able to recommend products to a warm audience, very likely to buy the product recommended.
Some Statistics
But there is a more important factor in why Internet Marketing in general, and Affiliate Marketing specifically, are growing exponentially. It is the world-wide growth of the Internet.
Between 2000 and 2017, the Internet users increased more than seven fold, from 6.5% to 48% of the world’s population reaching 3.6 billion users by the end of 2016. [1]
This growth is not confined to the USA. Internet penetration in Europe reached 75% of the population. In North and South America 66%, in countries of the Asia-Pacific region 45% . [2]
In the UK in 2016, 4900 advertisers spent 1.6 billion pounds on generating sales. Of this amount 88% was defined as affiliate activity. [3].
Furthermore, this advertising activity is fueled by the growth of mobile phones, since it is now easier for everybody to access the Internet. For example in Ukraine mobile traffic in 2016 accounted for 37% of all internet traffic. [1]
The opportunity to generate sales world-wide is huge and growing. ( Do not forget the China Market ! )
How do I get Started?
Training
As mentioned earlier, you must learn the basic skills necessary to start a successful online business. Learn how to:
– Select a niche or product that you will promote
– Build a Website for your niche
– Drive traffic to your website
– Monetize your website.
You can learn the individual subjects for free online, i.e. on edex.com which is a reputable resource. Or you can check free courses on YouTube. Many of the subjects can be learned online, with the majority being taught by people who are in the business themselves and are now willing to teach you the “secrets” of Affiliate Marketing.
I recommend a safer approach. Sign up for a free course, or beginners training course, offered by an industry leader in Affiliate Marketing training. The platform I recommend is Wealthy Affiliate.
Free Introductory Membership
The free membership at Wealthy Affiliate offers you limited access to the Wealthy Affiliate Dashboard.
Premium Membership
To be honest, I believe that after you sample what is offered at Wealthy Affiliate you will want to upgrade to the premium membership.
More on Wealthy Affiliate
I strongly recommend Wealthy Affiliate because it offers everything you will need to start your Affiliate Business in one place. You do not need to buy a domain name in one place, website hosting and/or a security package elsewhere and all at a very nominal investment.
Wealthy Affiliate has been in business for 14 years. Approximately 1,400.000 members in 193 countries.
Join Affiliate Programs
After you have advanced in your training, and have created a website that generates traffic, it is time to join Affiliate Programs that have the products that you want to promote in your website. Please note that you should have sufficient traffic to your website before you will be accepted by major Affiliate Networks such as :
– Amazon Associates
– ShareASale
– CJ Affiiate
– Big Commerce
– ClickBank ( for digital products)
Please note that when selecting a product to promote, is best to choose a manufacturer or retailer that has worldwide sales. In this way you increase your potential market, since your promotion will be seen world-wide, not just in the USA or in Canada.
Along these lines I recommend that you promote Wealthy Affiliate, with members in more that 190 countries. You can reach millions of people who want to earn money online and need the training offered by Wealthy Affiliate. Furthermore, the commission earned from Wealthy Affiliate is recurring, month to month, as long as the premium member that you recruited remains a member.
Tips for Success as an Affiliate Marketer
1- In your website write content that solves people’s problems or satisfies an urgent need.
2- Establish a personal connection with your audience. Write like you would talk to a friend. Your goal is to help and recommend a few products that you like and believe in, not to make a sale.
3- Review products and services applicable to your niche. Reviews can be positive or negative, but must be honest. Only review products that you know very well. Your reputation as an authority is on the line.
4- Focus on developing one website only. Do not dilute your effort and valuable time by expanding too soon.
5- Join several Affiliate Programs from sales networks, but also programs of manufacturers of products you like. Their commission is usually higher.
6- Continue learning and work hard.
7- Believe in yourself and persevere. You can be successful.
Conclusion
The world-wide growth of the Internet, combined with the increase in Mobil phone use, is creating a great opportunity for Affiliate Sales. Do not miss this opportunity.
I recommend that you start by joining the free training program at Wealthy Affiliate. If you sign up here, clicking on my affiliate link, I get notified and I will be able to provide personal support to get you started, as a way to thank you for signing up using my affiliate link. Hope to meet you inside the Wealthy Affiliate community.
Carlos
carlos@mymonetaryfreedom.com
References
[1] Strategies for Implementation of Affiliate Projects in Marketing Activity. Maryna Chaikowska,et al. Periodik Naukowy Akademii Polonijnej. 27 (2018) nr 2
[2] Digital Marketing Landscape,2016
[3] Affiliate Marketing growth accelerates as advertisers plough 1.6 bn pounds into performance channels. Kevin Edwards,27 April 2017 . https://www.awin.com/gb/market-insights
First of all, let me say that your article is inspiring especially to people who are thinking of ways on how to earn at home or at their own pace. The cons you stated however, is not really a disadvantage. It’s much more enlightening to know that you can learn so much through trainings about affiliate marketing, setting up your own website – I mean who doesn’t want that, right?
In Asia Pacific Countries, affiliate marketing isn’t that well known yet compared to US and UK. Some developing nations should also be given a chance to do this. Unfortunately, some affiliate programs are limited to specific countries which does not include South East Asia, for example.
I think Affiliate Marketing is a good opportunity. Good news, Wealthy Affiliate welcome everyone. I just had to join clickbank because some affiliate programs does not apply for me so I can recommend products. Wealthy affiliate is meant to be shared. Thanks for doing that.
Thank you for your comment.You chose well in selecting clickbank for promoting products.They are very good but they only offer digital products.I agree that Wealthy Affiliate is to be shared.You should know that Wealthy Affiliate has members in 193 countries.So the whole world is available to you for promoting Wealthy Affiiate.If you choose to join Wealthy Affiliate,try it first for free, then you can promote it not only to your friends in your country, but worldwide.You can learn and earn.Hope to meet you inside the Wealthy Affiliate community.
Hi Carlos
This is a really good article describing affiliate marketing; one of the better ones I’ve seen actually.
I think getting people interested in it can be difficult, especially if they’ve been bitten by get-rich-quick schemes. it’s difficult to convince them that this is NOT one of them. 🙁
I’ve found that being open-minded, but careful is a critical part of AM. Being discerning and willing to do research is also very important. I’ve seen AM sites that have a lot of gimmicky stuff is problematic; too much randomness; remaining focused on the niche is also critical (no scatter-brained).
Sometimes, those can be very challenging personality traits.
Cheers,
Dave
Hi Dave,Thank you for the comment.I agree that we should always be skeptical of potential get-rich-quick schemes.That is why I always recommend that a person interested in Affiliate Marketing sign up first for a free membership such as offered in Wealthy Affiliate. We should always check out what is offered and see for ourselves if what is offered will be of value.In the case of Wealthy Affiliate I am sure the visitor will find value.
You sure are right when you say that profit in affiliate marketing does not come overnight and takes time and hard work. With Asia-Pacific still not that in the game, I think that affiliate marketing still has quite alot of potential. As long as the internet will continue to grow affiliate marketing will grow, and even then, affiliate marketing is based on the idea that there are millions of niches out there that are still open and people don’t think about. I guess one thing which frightens people is that unlike with local jobs you-competing with the whole world (even though that isn’t necessarily 100% true, since you can really lock down a niche in your own language). It’s exactly this fear which will be an advantage for us, because the average person will be too afraid to begin, whereas those who aren’t will make it. I mean, let’s be honest, how many people do you personally know who have an internet business?
You are right to point out that affiliate marketing will grow as the internet grows.Currently access to the internet is rapidly increasing with the explosion in mobile phone use.You can access the internet, and make buying decisions,from your phone 24/7 . I am not familiar with the affiliate marketing situation in Asia-Pacific.Furthermore most of the opportunities are in English speaking countries or countries where a large percentage of the population speaks English. This is a limitation in promotion of the Wealthy Affiliate training. However, for selling products our offers can be seen world-wide since automatic translation is available on Google.Furthermore , programs like Amazon sales are widely available through the world. So with further growth of Internet Marketing in non-english speaking countries the sales opportunities will continue to grow. The market is huge with opportunities for those that are patient and persevere. Thank you for your thoughtful comments. I would like to learn more about the Asia-Pacific Market. Maybe you could shed some light in this area.
There are many persons searching the internet trying to find a legitimate way to build a successful online business. Details are important when trying to make such an important decision.
Thera are so many sites out there today that are misleading persons, claiming to deliver the impossible. In the past while I was looking for a way to earn an extra income online, I was mislead which caused me to waste not only my time but also my money. On a positive note though, thanks to someone who shared an article as helpful and informative as you’ve shared, I came across Wealthy Affiliate and I was impressed. The best thing about it is that it’s free to Join. Hence if one is not sure, there’s an opportunity to try out before a decision is made.
I would recommend the Wealthy Affiliate platform to anyone interested in Affiliate Marketing. The training is so helpful and easy to follow and the community is very supportive. What you see is what you get. Patience, hard work and dedication is however essential to succeeding.
Thanks for sharing this detailed article !
You are correct in pointing out that there are many unethical websites offering training that would lead to quick profits.We have to be careful. That is why,like you mention,it is advisable to try a training program for free first to see if it offers value. Wealthy Affiliate offers that opportunity. What I like at Wealthy Affiliate most is that the content is constantly upgraded to include new trends.An example is the new platform that helps in selecting niches and finding suitable affiliate programs. The Affiliate Sales market is huge and still growing so there is ample opportunity for success for those who work hard and persevere.Thank you for your thoughtful comment.
Thanks a lot, Carlos for the in-depth information on affiliate marketing. I have created a website already and I ‘m trying to get some good quality contents into it. I desire to promote some products in my niche. Please are there any pitfalls I must avoid in order to be a successful as an affiliate marketer? How does one get manufacturers to promote their products? I wish you could throw some light on this. Thanks.
Hello Seth, There are many pitfalls in starting into Affiliate Sales.That is why it is best to get a comprehensive training such as offered at Wealthy Affiliate. However the first step to select your niche is the most important.If you build in sand the building will collapse.The niche is the foundation of your building.I recommend you take a look at my article ” Affiliate Marketing secrets” .After that first step just follow the detailed training offered at Wealthy Affiliate and if you persevere you can have success.Good luck!