Affiliate marketing is the main practice by which you can earn while blogging or from your website. To earn a handsome amount from affiliate marketing, first you have to learn about the affiliate marketing so you can do it like pro.
In affiliate marketing, product owner or seller provides the links with unique affiliate ids and tracking code with you, so that the sales generated can be tracked easily and effectively. Next, affiliates (bloggers and website owners) have to share these links or use marketing tactics to generate leads via these affiliate links to earn commission per lead generated.
What is Affiliate Marketing?
Affiliate marketing is a type of marketing, in which a third party (or an Affiliate), gets leads for the product seller and generate revenue. An affiliate marketer gets commission on leads generated.
Core of Affiliate Marketing
Affiliate Marketing has four core players, these are:
- The Merchant
- The Network
- The Publisher
- The Customer
In Simple Words-
The Merchant – Merchant is the product owner or seller, whom produces or sells the product, i.e. Companies like Maruti, Cadbury or Websites like Amazon, Flipkart etc.
The Publisher – Publisher is also known as an affiliate. They get the product links with their unique affiliate id and tracking code . They perform various marketing tactics to generate leads to earn commission.
The Network – Network is a platform where the merchant and the publisher meets with each other. Merchants are here to find affiliates to generate more leads and affiliate to tie-up with merchants to earn commission.
The Customer – Customers, also known as the end user, is the one who buys the product from the merchant via your affiliate link.
How Affiliate Marketing Works?
Let us assume a scenario, an online store or a website started, and drive traffic from various mediums like search engines (Google and Bing etc), Social Media platforms, Ads of Faceb0ok, Instagram and Search Engines etc. and other sources like community and forums.
Now, they have executed all the sources to drive the traffic to website. At that time, they need affiliates to drive more traffic to generate sales and revenue. Website owner provides unique links to affiliates to track leads generated from them.
Sample format of Affiliate link is-
www.website.com?aff=2 and so on.
Now, we take an example and understand how you can earn a commission by affiliate marketing.
There are two affiliates, first one is Affiliate 1 and second one is Affiliate 2. Both of them send the traffic to the website but the sale is made through the link of affiliate 1, so the website gives commission to the affiliate 1 as the traffic coming from its link is converted into sales/leads. Website Owner track your traffic with the help of unique affiliate link ie. www.website.com?aff=1.
How to Start Earning with Affiliate Marketing
To start earning with Affiliate Marketing, just follow the simple steps:-
Look For Affiliate Links
Most of the companies give affiliate links on their website’s footer, check it out. Now, click on it, register with them as an affiliate. Here in your affiliate dashboard, you’ll get your unique affiliate links. Promote their products and services with your unique links and get commission.
Note: Must read their affiliate program details first.
Register on Affiliate Network
Affiliate network is a type of online platform where merchants and affiliates register to link up with each other. Some of the affiliate network platforms are Impact radius, Commission Junction, Amazon Associates etc.
Apply for Hidden Programs
Some of the companies have hidden affiliate program which they do not reveal publicly on their websites. So, you can just send them the email inquiring about their affiliate programs, if they have one and find you eligible, they will accept you as an affiliate.
Remember one thing, opportunities are endless. You will find a lot of affiliate programs and platforms on internet.
Mistakes you have to Avoid
Now, you’ve learn a lot about affiliate marketing and how to start. While doing affiliate marketing, a lot of publishers make mistakes, which lowers their confidence and no lead generation. Here are some mistakes which you have to avoid while doing affiliate marketing.
Choosing a Niche that doesn’t fit you
Affiliate Marketing is a narrow field having a lot of competition. Your competitors may also be promoting the same or identical products like you. It is quite hard to stand out among them. You have to devote all of yourself to achieve success in this field.
Wrong Selection of Products
Right choice of products will increase your conversion rates. Select the products for marketing on the basis of you audience and what would be valuable for them.
Depend on One Traffic Source
Every affiliate marketer understands the value of quality traffic. Higher the quality traffic means higher conversion rates which will award you. Good quality audience is spread over the internet. You just need to explore continuously and involve a new quality traffic source.
Don’t expect that you’ll become a super affiliate marketer in the first month or six months. Its take time to make a path of success. It will not happen in just few days, it requires patience. The people who become super affiliate marketers are the ones who show the most patience.
Not Building a List
Emails are one of the most personal way to contact your audience and build a close relationship with them. List building is the most important job you have to do as an affiliate marketer. So as soon as you start affiliate marketing, create an email list. You can create and implement email subscription opt-ins on your site to build a list.
To gain success in affiliate marketing, you need commitment, passion, and knowledge of products, market trends, quality traffic and building relationships with clients. Now you know what the most common mistakes in affiliate marketing are.