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Affiliate marketing is about selling products or services that you neither created nor bought. I like the way Wikipedia explained this concept; it says affiliate marketing is a kind of performance-based marketing in which business owner’s rewards affiliate for introducing a customer to their business.
Affiliate marketers are not placed on monthly salaries; rather their mode of earning money online is via commission which depends on the company’s policy. There are various types of company policies and modes of payment. You can get paid for generating a lead, this is called Pay per Lead, and you can earn a commission based on the number of clicks – Pay per Clicks, and of course the general mode of payment – Pay-per Sale.
Using Amazon as an example, while searching for a product, you walk into Xyz.com. They conducted a review of your selected product with a link to the product on the Amazon website. On purchasing this product, the owner of the website where you read the review is qualified to earn what we call an affiliate commission.
Just before I take a look at five unique characteristics of affiliate marketing, I know you are here because you have been asking yourself this question – How do I Start Affiliate Marketing? The lines of this page will not be sufficient for me to teach the whole concept of affiliate marketing. Kindly use this link to access my free Ebook -A comprehensive Guide on Affiliate Marketing.
Characteristics of Affiliate Marketing
- Set-up Time: Affiliate marketing is not a get rich scheme; it takes time to establish this business. As start-ups, I advise you to project your mind to nine (9) months before you start earning a real income.
- Start-up cost: is very low when compared to other businesses, your basic cost is the cost of setting up a website, which is less than $100. You can start affiliate marketing without a website, but I prefer and recommend that you start with a website.
- Product Pricing: Affiliate marketers do not influence the price of products or services they promote, nor do they determine the commission they are paid. Both price and commission are set by the company.
- Highly-Scalable Business Model: the business model is designed in such a way that you can scale it into other businesses.
- How much can you make From Affiliate Marketing: I am taking this as the last characteristics, but not the least. Like I said earlier your affiliate income is on commission bases. The more traffic you get, the higher your commission, and the more money you are likely to make.
We have seen what affiliate marketing is and the characteristic features of this form of marketing, I think it is gone we address the golden question – How do I start affiliate marketing?
We have seen what affiliate marketing is and the characteristic features of this form of marketing, it is time we consider the intricacy in starting affiliate marketing.
Starting up as an affiliate marketer requires proper planning, and deciding on what you want to promote and how do you intend to go about it.
There are diverse products out there, but having a niche will help you concentrate on a particular market. Finding a niche can be very simple, and at the same time very complicated.
The following are basic steps you can follow to pick a niche:
Find out what interests you: how much do you always want to know about this topic and how much background knowledge do you have on this topic.
How large is the market: Let me share my experience with you, I started with a little large niche. At the time I started, I felt it was a small niche, but as I began to research and write articles, I discovered smaller niches within my niche.
Who are the players in this niche: many of the popular niches like to make money online, health niche, are heavily saturated. Working and succeeding there will need a lot of effort and tactics, I advise looking at small niches.
To select a niche you can check it out on ClickBank or Amazon. I always use amazon, check the category and you can narrow it down as you pick the arrow in line of your interest. Click on this link to access a comprehensive training on Niche selection.
Build a Website
Building a website can sound so complicated, you can decide to hire someone or do it yourself. I prefer the do it yourself style, I have never contracted anyone to build for me, I do it myself. Although I do it myself, there is a platform where you can learn – Wealthy Affiliate.
It is a robust platform where you can start from as a beginner and become a professional. They have one of the best hosting platforms where your website can be hosted; I have my entire website on this platform. They have built a community of not less than 40,000 online marketing professional that is always ready to help, top of it is their keyword research tool – Jaaxy.
Every website has a focus, and this is delivering valuable content. Alongside there are three important pages that must come alongside your content.
- About me: it is an introduction to your person. Who are you?
Content, this is what I call the Online Marketing Business Currency. It is the currency we spend in online business; content is the same thing as your blog post or article. To enjoy a good online presence, there is a need to create quality content. It takes consistency and dedication; many online marketers start strong but gets frustrated. They feel they are running out of ideas, but no, there are ideas every day and everywhere.
Some affiliate networks will not accept your application, except you have built your site with good content and generated well enough traffic to your blog. Not to say that you must have 50 or more posts but I recommend you to have at least 10 articles on your website before you start promoting products
Build an Email List
Email marketing is a type of marketing that involves keeping in touch with customers and prospects via e-mails. When effectively engaged this method of marketing builds prospects that are converted to clients. Your email list is a personal portfolio of your clients. I strongly advise every internet marketer to use an email list. Click here to read more about building your e-mail list.
Promote Affiliate Product
The number one key to promoting affiliate products is to promote products you have used. I promote Wealthy Affiliate on all my materials because I have used the training, the hosting, the community, and even the keyword tool; it has been a pleasant experience.
Promote products that are related to your niche from trusted vendors, I have other vendors whose products I also promote. I promote products related to building traffic, creating YouTube videos, but I ensure they are from vendors I trust their jobs and likewise their customer service.