What is Affiliate Marketing?
Affiliate Marketing is a performance-based marketing process by which marketers earn commissions through promoting products or services belonging to other people or companies online.
When you identify a product or a service that you like, you can find out if the seller has an established affiliate marketing program and join. If they don’t, you can approach them directly to see if it is possible for you to enter into an affiliate marketing agreement with them.
With such an arrangement in place, you’ll be earning a certain percentage of the sale revenue generated from the sales made through your referrals. In most cases, you need to have a website or a blog where you’ll be advertising the merchant’s products and posting their corresponding links and ads for your audience to follow and possibly make a purchase.
How to Make Money with Affiliate Marketing
There are various ways in which you can make money with this form of marketing.
The first one is by completing sales to earn a commission. It follows the fundamentals of the traditional sales approach. You are paid a certain percentage of the amount of revenue that your merchant gets from every sale you complete. This is the most common affiliate marketing model. In some cases, you may earn from your promotional effort even when your merchant hasn’t closed a sale from it.
However, normally, your merchant will have to be really convinced that the lead you’ve created is highly likely to lead to a sale. They will use the information provided by the relevant potential customer to assess that. This type of affiliate marketing is used by companies that are more likely to make sales offline than online. Car dealers and real estate agents are good examples of such companies.
You can also make affiliate earnings through pay-per-click. In this model, your merchant pays you a certain amount of money when a person visits your website and clicks on their ad or a link to their products. Another option is to enroll in a multi-tier program with a company or business. Initially, your commission is based on the goal you agree on with your merchant. Then, you start earning from recruiting other affiliates into the program. You may get paid from every affiliate you bring on board or be given a certain percentage of their profits. This is where you can earn commissions without lifting a finger.
Hopefully, you now have a good idea of what affiliate marketing is all about and how you can earn a living from it.
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