How to Make Money with Affiliate Marketing?
Some people think that affiliate marketing can give them easy money but that’s not true. You can earn well by using affiliate marketing but it depends on number of factors. These factors are your commitment, website traffic, experience and how much time you are willing to spend. This article will help you understanding following aspects of affiliate marketing:
- What does it mean and what are its different types?
- Some tips and tricks to do successful affiliate marketing
What is Affiliate Marketing?
It is basically a marketing practice in which an affiliate offers marketing to a business and the business rewards the affiliate if any customer or visitor takes any action due to his marketing efforts. You perform the role of marketing publisher and promote services or products of any company. You will be rewarded when the business makes sales due to your promotion techniques.
For example, you have signed up for Amazon affiliate program and every time a visitor from your site makes a purchase on Amazon, you will get reward in form of commission. This is probably one of the cheapest and quickest but not the easiest ways to begin your online earning as you don’t need to produce any products yourself. You are merely providing a link between a seller and its potential buyers and you get commission every time a customer is referred through your website.
How Does It Work?
When you sign up for any affiliate program or network and select the products you are going to promote, you will get an affiliate code by the seller. You can use this code to refer visitors to the seller’s site. Majority of the affiliate programs will provide you banners, text links and other types of content copy. So you only need to copy that unique code and place it on the site to start affiliate marketing. When your visitors clink on this code they will be redirected to the seller’s site. If they make a purchase or subscribe for the service you are referring, you will get a commission.
You will have an affiliate ID and the seller will use this ID to track your marketing performance. There are number of affiliate software such as WP Affiliate Platform for this purpose. You also get complete access to all the sales you made and the statistics related to your commission.
You don’t have to sell these services or products all the time to get a commission. There are different programs which have different payment terms like following:
- Pay-per-Click: When you sign up for this type of program, you will get commission on the basis of number of visitors redirected from your site to seller’s site, whether or not they make a purchase.
- Pay-per-Sale: In this type of affiliate program, seller pays a percentage of the price as commission when visitor completes a purchase.
- Pay-per-Lead: You will get commission if your referred visitors signed up on the seller’s site and provide their contact information such as an email ID for newsletter.
How to Become a Successful Affiliate Marketer?
After you have known how affiliate marketing, you would think: Hey! It’s an easy way to start generating revenues online. It will make me rich overnight. Your thinking is wrong. Affiliate marketing is beyond any doubt a wonderful way to start earning online income but there is lots of competition in this field. If you want to be successful in it, you should know your visitors’ needs; learn how to do marketing, what works in affiliate marketing and what does not. Here are few tips and tricks to become successful as an affiliate marketer:
Be Selective in Products and Services
Majority of affiliate marketers make some mistakes. They sign up for plenty of affiliate programs and start marketing every products and service available. If you want to pursue your career as affiliate marketer on these lines, it will become very bothersome and you cannot do properly marketing for any of the product. To be successful in the field, you have to sign up for few good performing products. First, you should learn about the market needs and search for those products which match with your site’s niche.
Use Several Traffic Sources for Marketing
Another mistake done by most marketers is that they promote ads only on their own site. It is not a wrong practice but you should search for other traffic sources as well. There are many sources which you can successfully use to promote your signed up products. Your chances of making online income will become higher if you send more targeted traffic on the seller’s site.
You can use Google Adwords for driving targeted traffic to the product page. You just have to create an ad in adwords account then place the affiliate link in the page URL of this ad. Off course, you have to measure the conversions on continuous basis and you have to analyze the success. The adword campaign cost should be less than the commission you are going to earn in order to keep running the campaign.
Test and Measure the Campaign Success
It is a really good marketing practice to implement different product marketing strategies. It helps you figuring out what is successful and what is not. You can perform split testing to measure which campaign is performing well. Then you can take actions according to the results. You can dramatically increase your profit by changing a few things here and there. Place the ads on different pages and areas of website pages. Some ad positions get more attention than others.
Most affiliate programs will provide you basic statistics about your conversions. But you can use your own tracking software as well. You will find many conversions tracking software available online which you can use to track your campaign.
Research Product Demand
No matter how hard you try, if you have signed up for a low demand product, you are not going to make any considerable money. So we would suggest you to research as much as possible before signing up for the product or service promotion; this research will help you in finding product what your visitors need and it is high in demand. You can also conduct an online survey to know the needs of your users.
Use New Techniques and Methods
As we have said earlier that it is a very competitive field so affiliate marketers are devising new methods and techniques to get more success. Try to stay up to date with these trends so you won’t fall behind.
Affiliate Marketing may not be an easy way to make income online but with some efforts and time you can earn well. All you need is commitment to the practice.
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