Well, what is affiliate marketing? Affiliate marketing is becoming a great source for making passive money. People who are not able to make extra money at their places of work or are denied their long-awaited promotions – they want that something extra to make ends meet. They want to pay up their bills. At the same time, they want to use the passive income to make their kids study at prestigious institutes of the globe. Here is where affiliate marketing comes to help. Affiliate marketers and affiliate merchants benefit immensely via this form of marketing. Housewives, college students and retired pensioners too can take up affiliate marketing to earn handsome commissions, cash bonuses, and sales incentives.
What is Affiliate Marketing?
The exact definition of Affiliate marketing is as follows:
“Affiliate marketing is the process of earning a commission by promoting other people’s or company’s products. You find a product you like, promote it to others, and earn a piece of profit on each sale you make”- By Pat Flynn.
You don’t have to produce a product or create one of your own. You just promote a brand or an established niche of products already developed by the creator. This way, you earn lump sum commissions, bonuses, or incentives adding to a substantial deal of passive income. Here, we are going to have a look at four ways to become a successful affiliate merchant and four steps to become an affiliate marketer too. Shall we go down the lane?
Four-step method to become a successful affiliate merchant
Coming up with a Product Idea
As stated above, affiliate marketing is always done through a chain. It is not something that is handled by an individual or an independent entity. So you can come up with a product idea that matches customers’ expectations. You can google on the kind of products consumers use. These can be vacuum cleaners or even daily use shampoos.
Now, you create more innovative ways of using them. Say, you are a home-maker, you can devise a product that can make household chores a lot easier. You can look for remote control models on vacuum cleaners or dishwashers — review on the pros and cons of available products. You can now think of a device that can eradicate the cons. Robot vacuum cleaners do a great job, but they do not have firewalls on where to go and where to end. You can devise a mechanism or fire-walls to let the robot cleaner do the job within pre-defined premises. Ideas can, therefore, be camouflaged with the products, and consumers use on a day to day basis.
Validate your idea
Once your toy in on your product ideas, the second step is to validate them. You need to sell your ideas in a way people would want to buy them. Invest your time and efforts on whom to approach. Suppose you create your fun-video series on sandcastle building; you can ask two vital questions:
- Did you love watching our videos?
- Would you love paying a small subscription fee towards more of such fun-filled videos?
Here, you just don’t want people to say something nice about your product or service. You also want them to subscribe to your niche. Hence at this step, you look for serious buyers than mere watchers!
You need a genius mind and years of research on creating a product or service first-hand. To get into the entrepreneurship vibe faster, you can take a look at some of the trending digital products. You will get fantastic ideas on how to improvise on them. Or create tools to make them work better. You can create online launch pads on
- How to become rich before you turn 40?
- Online guide on top-notch freelancing jobs
- How to earn your 1 million USD by just creating e-books?
Finding affiliate partners
For people to click through your site and get to a payment junction, you need an affiliate partner. Clickbank or Citibank Click are great options. You can think of partnering with your products via other channels as well. You need to research on this well in advance. Even before you launch your range of products/services.
Now comes the four-step guide towards successful affiliate marketing
You are not the merchant anymore. The merchant has already endorsed his products or services to the brand audience. Your role here is to market the products. You, therefore, act as an intermediary between the merchant and the consumer. These are four steps by which you can become a successful e-marketer:
Use Products and Start Reviewing Them
You don’t have to be a marketing associate of the product from day 1. Suppose you love using Avon products, you can look for ways to sharing your experiences with audiences. You can write review blogs or make fun videos on what you felt after using them. You can read e-kindle books. And narrate the experiences you have had. You can create audio podcasts or videos relating to the same. These reviews if watched by companies, can get you into an income-generating model.
You can use Email marketing to your best advantage. Use header notes or sale notes at the beginning or end of the video or review session. Else you can use digital billboards too. To cascade customer info or their email addresses.
Send them blogs or updates details on your latest launch of products. You can offer discount codes so that they subscribe to your emails, newsletters, or Facebook campaigns. If they refer their friends or too, you can hand over freebies like shampoo sachets, hand creams, headphones and so on. Depending on the product niche you are into.
Hold webinars or group discussions
You can hold online webinars or live discussions so that you comprehensively create product awareness. You can ask people to sign up for live webinars at least ten days in advance. You can give away online tutorials or e-books to subscribers who sign up for your webinars or social media launch events on a first cum first-served basis.
This way, you can throw more light into products or services you wish affiliating with. You can create videos or blogs into how products like skin-care or cosmetics can be used. Avon and Oriflame are affiliate marketing companies that affiliates love associating themselves with.
Pay Per Click Advertising
Concentrate on the first three. Like holding webinar meets, email or digital marketing and review blogging. Pay per click is a paid form of advertising. So plan up PPC efforts only if you know that the method can translate results into actual money. You need to pay your advertisers or sponsors for this type of marketing. Google AdWords search is a compatible form of paid advertising. You will have more subscribers who search via Google Ads.
The guide on what is affiliate marketing covers definition, evaluation, and four-step methodology. Concerning how one can become successful at affiliate marketing or as a merchandiser. You get a comprehensive overview of the concept. Plus valuable ideas on how you earn a handsome passive income with the help of this.