|Through affiliate marketing, you can have someone else sell your products for you and split the profits! Learn how to bring this passive income idea to life.
Working from home is a plus for people looking to make money on the side. That’s why affiliate marketing has appealed to so many. But in an age where business terms are thrown left and right, it’s easy to get lost and not understand what affiliate marketing stands for. So let’s dive into that world and see where this passive income business can lead you.
What is Affiliate Marketing?
Websites have different ways of earning money – from ad placement down to sponsorship. Affiliate marketing is one more method that’s gaining momentum as advertisers seek more cost-effective, revenue-generating ideas.
The general idea is to place a link from your site going to the advertiser’s site. This can be done through in-content linking or through banner placement. After a reader clicks on the ad, they’re redirected to the advertiser’s page. The advertiser then determines what site the reader came from through tags embedded on the link they clicked – thereby identifying your site as the source. When the reader makes a purchase from the advertiser, you’re given a commission. In this way, advertisers would only need to pay when they make money.
The idea of not being able earn a guaranteed sum may turn you off but if you’re working with a reputable company with great products to offer, you can rake in serious money. It can work well for both parties.
The wonderful thing about affiliate marketing is that it can be done without having to spend on anything. Sites like Blogger
are blogging platforms you can use for free. Once you have a site, think about a niche. Having a niche makes your demographic less random.
Once established, look for affiliate programs for products and services your audience would most likely need. If your blog is about hunting, for example, companies that sell outdoor equipment would be a great choice. Lots of companies have affiliate programs. Search and see which ones fit your site best.
Commission would differ from retailer to retailer – from a low 1% all the way to 30%. Don’t settle for the first offer given to you. Marketers are often flexible. You can make a case for higher commission if you can prove that your site generates enough traffic to warrant a bigger slice of the pie. You can use Google Analytics to back your claims with hard data.
Establish a good relationship you’re your affiliate partners. Make sure that you’re easy to get in touch with. When in doubt, find a mentor who can help you learn the ropes. Do not spend money on pay-per-click advertising for your site and focus instead on free channels until you get your footing in this business.
Put in enough effort and you could be on your way to a successful career through affiliate marketing.
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