Do you have any passive source of income?
Affiliate marketing is the passive income source and many are taking the advantage.
Affiliate marketing is one of the ways to make money with promoting and branding other people’s product through the affiliate network and getting some commission over the sell. Marketing is like asking someone out on a date and branding is the reason they say yes. Presenting the content in a way that they click over the provided link and convinced to buy the product is the key strategy for affiliate marketing.
People often search for Affiliate Marketing on Amazon. Amazon affiliate is the largest affiliate program globally. Content creators, publishers and bloggers can monetize their traffic with Amazon Associate program. There are different ways one can earn with affiliate marketing.
There are 4 parties involved in affiliate marketing. Before that, it is necessary to understand how it works. There are two major components which are involved in the process. One is the creator and seller of the product while the Second is the affiliate marketer. The process starts with the seller or the merchant, affiliate networks are the mediators who promote the product which is to be purchased by the consumer.
The seller or the manufacturer of the product who intends to sell the product and earns a direct profit. A merchant is a party who creates the product.
A merchant party can a big shot company or a small business owner who is manufacturing a product.
Affiliates are the one who promotes the product. They can be an individual or a company who is dedicatedly generating revenue through affiliate marketing.
Affiliates do their job with social networking sites, by creating SEO content or through captivating videos. They can give product reviews or write appealing content which will convince the consumer the buy a product.
Not everyone considers the affiliate network an important part of the chain. In my opinion, the affiliate network plays a vital role in affiliate marketing.
Affiliate networks are intermediaries that connect bloggers and entrepreneurs (“publishers”) or the affiliates to businesses (“merchants”) that offer affiliate programme opportunities for their products or services.
It is the last and most important party involved in affiliate marketing. All of the efforts will go in vain if the affiliate or affiliate network fails to attract and convince the potential customer.
The content should be convincing so that the consumer ends up buying the product. A review blog can be an excellent way to start with.
I am afraid that I won’t say what you want to hear. Affiliate marketing isn’t easy but with more traffic, more clicks and conversions, you can generate revenue.
If you are a newbie and want to get started with affiliate marketing you should start finding the problems people face while buying a product. The information helps the user solve a problem. Offer them a perfect, presentable solution for the issue, and there you have your first customer.
Choose a category or a niche for the blog or video, and expand it eventually. The affiliates or affiliate networks earn hundreds to tons of dollars with affiliate marketing programs.
To become a merchant you have to come up with a new innovative idea for creating a product. To become an affiliate marketer you need to choose a niche, collect some customer information, present it well and finally get paid.
Register yourself with a merchant or a company as an affiliate marketer. Every company pays a variable amount for every product. It is generally percentage-based and they provide you with a link which you need to use while promoting the product.
Every sell with that link will add some money in your pocket.
Begin with reviewing the product through a blog or a YouTube video. More the visitors or subscribers more are the chances to earn.
Next, you can collect details like the email of the visitors for the follow-up. It is good to do email marketing and follow your leads.
Third, you can invite leads to live webinars and do a live product review. You can promote your webinars on social media platforms. Many sources are available for conducting live sessions.
Lastly, you can promote your products through referral marketing. Refer and Earn plays the trick.
Affiliate marketing and referral marketing program can be beneficial for the merchants, manufacturers, sellers and vendors. They can generate more revenue by offering some commissions over the products an affiliate sells.
There are affiliate marketing tools available for PrestaShop and Magento stores on Knowband. In my previous blog, I have discussed how you can acquire new customers with referral and affiliate marketing tool for PrestaShop store. A merchant can boost conversions and increase brand awareness with affiliate marketing.
The Affiliate and Referral Program- PrestaShop module helps you in many ways. You can refer to the blog post or the user manual for its features and benefits. The extension for affiliate marketing is also available for Magento and Magento 2 platforms.
The affiliate marketing or passive income sources will not make you a billionaire overnight. With extra efforts, meaningful content and a strategic approach you can at least make decent money in some time. With reinvesting the money in blogs or website you will increase the chances of earning more with the expansion of your audience.
If you are looking for something which can help you earn money even in your sleep then affiliate marketing can be something you should start with.
- How Affiliate and Referral program helps online businesses?
- Start a Blog to Increase eCommerce Sales
- 6 Ecommerce Marketing Strategies to Grow your Business
- A Guide to Referral Marketing