What is affiliate marketing business?
Affiliate marketing business is the type of business model that allows you to earn a commission for recommending products or services. Affiliate marketing involves setting up a website and sending the traffics that come to your website to other people’s website to buy their products or services. For every sales originated from the link from your website, you earn a commission. In some cases, you don’t need to sell products to earn a commission. There are different affiliate programs with their different payment terms such as pay per sale, pay per lead and pay per click. Let me explain these terms further.
Cost Per Sale: This affiliate marketing business pays you for each sale generated from your link
Pay Per Lead: In this type of affiliate marketing business, you are paid a specific amount for creating a lead for an advertiser. This may require that visitors provide their contact information on the merchant’s website by filling out a simple contact form
Pay Per Click: In this type of affiliate marketing business, you are paid based on the number of visitors that come from your website to the Merchant’s website. It does not matter whether or not a sale is made..
Why Affiliate Marketing Business?
- You don’t need to incur any production costs.
- You can sell to the entire world.
- Joining affiliate programme is free.
- Merchants take care of storage and shipping.
- In affiliate marketing business, you don’t handle customer complaints. These are handled directly by the merchant.
- You can operate affiliate marketing business as a side business.
- Affiliate marketing business can be operated from home. It is a home based business.
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How do you start affiliate marketing business?
Create a Website
You need a platform through which you can promote your affiliate marketing business. Your website should be loaded with good content relating to your product. In another word, you have to create a niche website. That is the only way to succeed in affiliate marketing business.
Choose a product or service you want to promote
The starting point is for you to select a particular product or service that you want to promote. Selecting the right product or service is very crucial to your success in affiliate marketing business. How can you determine the right product or service? These are my suggestions:
- Choose a product you use by yourself. It is easier to promote a product you use or have used before. If you want somebody to buy a particular product, you should be able to market it effectively. Remember the name: Affiliate marketing business. It requires marketing. For your marketing to be real, genuine and not theoretical, you should be familiar with the features of the product you are promoting.
- If you are considering starting affiliate marketing business, you need to consider whether the product will benefit your readers. It will be a wasted effort promoting a product that is totally off your niche.
- Choose a product with a good affiliate commission. In affiliate marketing business, your income is dependent on the commission you receive. Therefore, if you want to make it big in affiliate marketing business, you need to choose a product with high commission.
Choose a good affiliate network and sign up for affiliate program
Having selected a product that is right for your affiliate marketing business, you need to find a good affiliate network. The popular ones include Commission Junction(CJ), Linkshare, ClickBank, ShareASale, Affiliate Window, Amazon, TradeDoubler and LinkConnector etc.
It is important to mention that reputable affiliate networks will not ask you to pay a fee before you could join. If you are being asked to pay a fee before you can be allowed to join, it can be a scam. Be warned! The beauty of affiliate marketing business is that you don’t need to pay any fee to get started.
Get a special link that allows the merchant to track clicks
It is the link the affiliate network gives you that you will use to promote your product. If people buy the product from your link, you get a commission. Links can be a text link or in form of a banner.
Market the Product
In affiliate marketing business, marketing plays a vital role. Marketing may not necessarily involve spending extra bucks. You can leverage on your existing resources. You can market your product by adding affiliate links into your content. However, the product you are marketing should be relevant to your content.
You can also include banners on your sidebar. This must be placed in a strategic location where people can easily see it.
Product review is also a good way to promote your product. If you can write a good review on the product you are promoting, this can generate good sales for you.
The last one I like to mention here as a way of promoting your affiliate marketing business is email marketing. This can be the most effective way of selling your product. The success rate is high because they must have indicated interest to your product niche through their subscription. Please avoid spamming.
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