In today’s hyper digitalized world, if you aspire to start a passive income stream from your online activity to complement your monthly paycheck or simply wonder how you could make money online without really worrying about developing a product of your own, you are not alone. One of the most efficient ways to do this is to collaborate with businesses to help them reach a wider customer base and start an income source in the process. Crucially, this collaboration is irrespective of whether or not you have your own business.
If you aren’t participating in affiliate marketing, it’s time to consider taking advantage of this lucrative revenue stream.
Affiliate marketing is a great way to drive sales and generate significant online revenue. Extremely beneficial to both brands and affiliate marketers, the new push toward less traditional marketing tactics has certainly paid off.
In fact, affiliate marketing spend in the United States increased from $5.4 billion in 2017 to $8.2 billion in 2022 which means there’s plenty of room for those looking to get a piece of the pie
So, if you have been planning to try affiliate marketing then here are the things you must know about making money online through affiliate marketing.
Table Of Content
- What is Affiliate Marketing or Affiliate Programs? The Complete Understanding.
- How does affiliate marketing work?
- How much you can earn through online affiliate marketing
- How To Earn Big Money In Affiliate Marketing? The Best Possible Ways to Earn Big Money
- Some Best Affiliate Programs Must to Join
What is Affiliate Marketing or Affiliate Programs? The Complete Understanding.
- Affiliate marketing is an advertising model in which a company compensates third-party publishers to generate traffic or leads to the company’s products and services. The third-party publishers are affiliates, and the commission fee incentivizes them to find ways to promote the company.
- Affiliate marketing predates the Internet, but in the world of digital marketing, analytics, and cookies made it a billion-dollar industry. A company running an affiliate marketing program can track the links that bring in leads and, through internal analytics, see how many convert to sales.
- An e-commerce merchant wanting to reach a wider base of internet users and shoppers may hire an affiliate. An affiliate could be the owner of multiple websites or email marketing lists; the more websites or email lists that an affiliate has, the wider its network. The hired affiliate then communicates and promotes the products offered on the e-commerce platform to their network. The affiliate does this by running banner ads, text ads, posting links on its websites, or sending emails to clientele. Firms use advertisements in the form of articles, videos, and images to draw an audience’s attention to a service or product.
- Visitors who click the ads or links are redirected to the e-commerce site. If they purchase the product or service, the e-commerce merchant credits the affiliate’s account with the agreed-upon commission, which could be 5% to 10% of the sales price.
How does affiliate marketing work?
To participate in an affiliate marketing program, you’ll need to
- Find and join an affiliate program
- Choose which offers to promote
- Obtain a unique affiliate link or code for each offer
- Share those links or codes on your blog, social media platforms, YouTube channel or website.
And you collect a commission anytime someone uses your links or codes to make a purchase. Commission rates vary dramatically, depending on the company and the affiliate program. At the low end, you’ll earn about 5% of the sale but, with some arrangements, you can earn as much as 25%. In some cases, affiliate marketing programs provide a flat fee per sale instead of a percentage.
How To Earn Big Money In Affiliate Marketing? The Best Possible Ways to Earn Big Money
As you see, affiliate marketing is a passive income source. It is highly competitive it is true but still it may be so easy to make money online with affiliate marketing. To be successful, you need to learn what works and what doesn’t while promoting your products.
Here, are some Best Ways to get success in Affiliate Marketing.
- Be Patient
- Know Your Audience
- Network & Build Relationships
- Attract Targeted Traffic
- Track Your Data
- Select The Right Advertiser
- Always Be Testing
- Follow New Methods and Techniques
- Determine Your Hottest Offers (80/20 Rule)
- Research Product Demand
- Know What Types of Landing Pages Convert Best with Your Traffic
- 1. Be Patient
There are many affiliate marketing works. So, you need to be patient. You can feed your website with qualified content to get high-ranking positions and raise awareness, attend affiliate marketing events, seminars or webinars and join a discussion forum or online communities to meet new people. All make a great contribution to develop you. Naturally, after these contributions, you will be more passionate to make money from affiliate programs. If you are patient enough you will make money with affiliate programs.
- 2. Know Your Audience
Taking the time to understand your audience & traffic and learn about their unique needs and interests will help you be more successful and ultimately more profitable because you will have a better understanding of who they are and what products they are likely to buy.
- 3. Network & Build Relationships
Especially in the direct response marketing space, people like to do business with people they like, so make sure to network as much as possible and build relationships with vendors and even other affiliates. Just like with your affiliate promotions, instead of just trying to sell, do your best to build personal connections and most importantly, GIVE VALUE!
Pro tip: The two must-attend annual events for affiliates are Affiliate Summit West, held in Las Vegas, NV and the Traffic & Conversion Summit, held in San Diego, CA.
- 4. Attract Targeted Traffic
The core function of making money is to push people to click your affiliates’ links. So, you need to attract visitors. There are four ways; paid advertising, free advertising, article marketing, and email marketing.
You need to combine ad copy, graphics, and a link effectively on paid services like Google AdSense in paid advertising while placing links and advertisements on free websites like Craigslist or US Free Ads in the free advertisement method. Payment methods of both of them are PPC, which is earning money regardless of whether a reader buys the product or not.
For article marketing, you need to have a higher ranking in search engine results to be a credible source. There are many article submission websites like Ezine Articles. As a marketer, you submit your article and affiliate marketers republish your article. The marketer who published the original article gradually earns higher search engine rankings. For email marketing, affiliate marketers embed an email subscription option for website visitors.
- 5. Track Your Data
It is important to track all of your numbers including revenue, clicks, conversions, and earnings per click (EPC). unique tracking promolinks that you can customize for all of your affiliate promotions, and our Business Cockpit and Reports sections will help you streamline your reporting to ensure you are never leaving money on the table.
- 6. Select The Right Advertiser
The quality and service of your website are as important as the advertiser’s website. If your visitors become unhappy and dissatisfied after purchasing the product you advise, they think nothing of taking your advice, again. I mean it hurts your credibility. So, focus on choosing the ones that offer good customer service while promoting the person or company.
- 7. Always Be Testing
Testing and comparing the success rate of different ad copy, email swipes, offer types, and even different campaign times is absolutely critical. Don’t allow yourself to be complacent; always be testing because small changes can often go a long way toward helping you make a big increase in affiliate marketing sales.
- 8. Follow New Methods and Techniques
Everybody is typing to Google: How to make money affiliate marketing. Everyone wants to make money with affiliate programs. Digital marketing trends are very dynamic. So affiliate marketing is. Try to be updated with the latest techniques and methods to be successful in a competitive environment. Getting out of date results in falling behind while staying up to date results in utilizing new techniques.
- 9. Determine Your Hottest Offers (80/20 Rule)
It is likely that 20% (or less) of the offers you promote will account for 80% of your affiliate revenue. That said, make sure you know exactly which offers (or types of offers) do best with your audience or traffic. The Marketplace features offers from multiple verticals, with a variety of different offers within each vertical.
- 10. Research Product Demand
If you remember, I said “understand market needs” at the beginning. Let’s deep into this step. If you have decent traffic, view your daily, weekly, quarterly, and yearly traffic and sales chart in order to explore customers’ behaviors and choices. If not, spend time to find out how the product you are thinking to promote meets users’ needs.
- 11. Know What Types of Landing Pages Convert Best with Your Traffic
There are so many different types of landing pages from text-only pages to video sales letter (VSL) pages, long-form presell pages, advertorials, and short form sales pages. Experiment with different types to determine which convert best with your traffic.
How much you can earn through online affiliate marketing
- Most of the prominent ecommerce players are known to run big affiliate marketing programs. For instance, Amazon under Amazon Associates programes pays a commission typically in the range of 0.2%-10%. eBay Affiliate pays a 12% commission on every sale while Flipkart Affiliate pays up to 15%. Godaddy Affiliate pays up to 100% commission on a successful sale.
- USA being the leader of online affiliate programs offers very attractive earnings for online affiliate partners. As per Payscale.com the average income which an average affiliate marketer is making is $52,590 as per the date updated on July 2, 2022. US web hosting company Hostinger has one of the highest remunerative affiliate programs where it pays up to 60% commission.
- Whereas SEMrush, an all-in-one marketing platform, pays $200 for every successful subscription. So, any person working on international brands in USA can target higher earnings though it will also mean higher competition.
Some Best Affiliate Programs Must to Join
- One of the biggest challenges you’ll face when building an affiliate marketing business is finding the best affiliate programs for beginners.
- After all, there are thousands of high paying affiliate programs to choose from.
- Choosing the wrong affiliate program could potentially set you back months, whereas the right one could see you generating your first affiliate buckaroos before your site is even “finished”.
Let’s get to it.
- Best Affiliate Marketing Programs For Beginners
- Amazon Associates Affiliate Program
- CJ (Commission Junction) Affiliate Program
- ShareASale Affiliate Program
- ClickBank Affiliate Program
- Rakuten Advertising Affiliate Program
- Impact Affiliate Program
- Awin Affiliate Program
- Etsy Affiliate Program
- eBay Partner Network Affiliate Program
- Fiverr Affiliate Program
- Refersion Marketplace
- PepperJam Network
- FlexOffers Affiliate Program
- Avangate Affiliate Program
- MaxBounty Affiliate Program
- LinkConnector Affiliate Program