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“Affiliate Marketing Has Made Businesses Millions And Ordinary People Millionaires” – Bo Bennet
Table Of Contents
- 1 What Is Affiliate Marketing?
- 2 So, Is Affiliate Marketing Dead Or Dying?
- 3 What Is The Best Way To Start Affiliate Marketing?
- 4 What Is My Role As An Affiliate Marketer?
- 5 Deadly Mistakes To Avoid As An Affiliate Marketer
- 6 Conclusion
What Is Affiliate Marketing?
Affiliate marketing is a business model where ordinary people like you and I are able to earn money online by independently promoting other peoples products. Independently means that you are not employed by product owners to market their products.
You and the owners simply enter into a mutually beneficial relationship. You help them close more sales by bringing them customers and they reward your marketing efforts with a percentage of the sale revenue (Commission).
It is a simple model of revenue sharing between product owners and independent marketers. Affiliate Marketing remains one of the legitimate ways to earn income online.
There is more that goes into your marketing efforts than just pointing customers to the products. What I mean is that in order to be successful as an affiliate marketer you should never assume the role of salesman/saleslady.
As much as it may sound like affiliate marketers are online salespeople, my stern advice if you want to succeed is to “be a salesperson who is not a salesperson“. This is very important. It can make or break your affiliate marketing efforts. I will explain later
A Brief History Of Affiliate Marketing
The Online Affiliate marketing business model was coined back in 1989 by William J. Tobin, the founder of PC Flowers & Gifts. By 1993 PC Flowers & Gifts was able to generate over $6 million a year.
Since then affiliate marketing grown in leaps and bounds and it is not about to stop anytime soon. As you can see from the graph below, in the United States alone affiliate marketing spending keeps rising year after year.
This increasing trend is not just in the United States only. Worldwide the affiliate marketing trend is upward as more and more people prefer to shop online. Technological advancement is enabling people to do most of all their shopping in the comfort of their homes.
How Does Affiliate Marketing Work?
There are different parties involved in the process.
- The Customer /Reader
- The Affiliate (You)
- The Merchant
Watch This Short Video On How Affiliate Marketing Works
So, Is Affiliate Marketing Dead Or Dying?
Not a chance!
Affiliate Marketing is here to stay. Why? There are so many benefits to all parties involved. I will outline them here.
Benefits Of Affiliate Marketing To The Product Owner
- Find new customers
- Increase orders and traffic
- Identify new opportunities
- Gauge real-time consumer needs
- Save money on advertising campaigns which may not always be effective
- The commission is paid only after the sale
Benefits Of Affiliate Marketing To The Affiliate
- You don’t have to create complex products
- Helps create and build long-lasting relationships with readers
- Build online recognition
- Deliver great product offers to readers
- Earn Commission
- No need to deal with customer care, follow-ups or product deliveries
- Your earning possibilities are exponential
- You only work hard in the beginning when you are starting out- 1 well-executed marketing effort will keep paying off over and over
Benefits Of Affiliate Marketing To The Customer
- Makes buying process easy
- Provides ready information about products
- Customers can compare prices and go with the best deals
What Is The Best Way To Start Affiliate Marketing?
If you want to do affiliate marketing but you have no experience, the best way to start is by getting the training. I do not advise you to go at it on your own because the internet is full of information. Some of it is great and some are outright misleading.
A lot of people fail at affiliate marketing because they do things on their own. Perhaps to save on startup costs?
That’s totally understandable but when you think about it, there isn’t much value you are gaining by watching several free videos online. You may end up getting confused about who is right or wrong.
You waste so much time. Time is money!
You need a credible source of training and follow it. There are millions of those. Some are cheap and others are very expensive. What do you do?
If you have a big budget and ready to spend on your self-improvement, I say go ahead and do that. But make a thorough research to make sure that you are buying genuine training courses. There are lots of scammers out there.
I have a few courses I can recommend for beginners. I am listing them in order of preference,
Why Wealthy Affiliate As The Most Preferred?
Wealthy Affiliate is beginner-friendly in many ways.
Compared to Affiliate Marketing Mastery and Authority Hacker, Wealthy Affiliate costs much less yet it provides a lot of value. To me, this is ideal for someone just starting out.
They also allow you to try it for free to see if their training is right for you. Most importantly, Wealthy Affiliate has No Upsells. The only extra cost you will incur is buying your own domain within Wealthy Affiliate.
You don’t want to spend too much money on training courses and be left broke.
Wealthy Affiliate offers step by step training in very easy to understand manner. It is so easy to build a website with Wealthy Affiliate. There is no need to have complicated skills. You can build your affiliate website under 1 minute. No hype.
There is extra mentoring at no charge. Every Year they ask willing members to participate in their Annual Super Affiliate Challenge. They give you challenging tasks to complete within a specified period of time. These are tasks meant to grow your website rapidly and turn it into an authority site.
You will get rewarded when you achieve the Super Affiliate Status. You get an all-expenses invite to the Super Affiliate Conference in Las Vegas and get to meet other super Affiliates as well as Kyle and Carson.
Wealthy Affiliate provide support to its members in so many ways. They have a large community of over 1.5 million members. They are always ready and willing to help you when you get stuck.
You just have to ask for help from the community. There is active live chat, you can ask questions in relevant classrooms, or type your question. Within a few minutes, you have answers pouring in.
Any website issues you have, Site Support is so efficient in providing solutions.
What I like the most, the owners (Kyle and Carson) are very approachable. They participate in live chats and you can also send them private messages if you want help from them directly.
With the membership fee you get everything
- 25 free hosted domains
- Free Hosting for your own domains up to 25 domains
- Free SSL Certificate
- Free Keyword Research Tool
What Is My Role As An Affiliate Marketer?
Your role is to provide HELP to potential customers. That’s it! What kind of help? You may wonder.
Help your content consumers (readers) make informed buying decisions. There are many ways you can do this.
1. Write Product Reviews
This is one of the most effective strategies because people are now wiser. They want to read reviews before they can pull out their credit cards and buy something. Its what we all do right?
You should write reviews on the products that you are knowledgeable about.
Ideally you should have used the product yourself to give an informative review.
You love to workout and have set up your cool home gym with nice equipment. Treadmill, stationary bike, Ab Roller, Yoga Mat, Dumbells, Rowing Machine etc.
See where I’m going with this?
There is a lucrative, evergreen niche right there!
Surely you must be passionate about keeping your body fit, healthy and looking great! You can certainly help other people out there by providing tips on the same topic.
You already have more than a handful of products to review. Begin there, after all you really wouldn’t be able to buy every other product just to review it. You just have to be smart about this one.
How about your friends? Don’t they have other equipment you can try out and review?
2. Provide “How To” Tips
These too are in high demand.
“How to get a six-pack without going to the gym”. Write an article and produce a video tutorial. Millions of people are searching for these videos daily.
People actually prefer to watch videos more than reading a blog post. However, you need to have both. Link your Youtube video to your blog post where you have your affiliate links on relevant products you promote.
The most important aspect to help you succeed with affiliate marketing is to establish yourself as a problem solver that people can trust.
People will be at ease to click on your affiliate links if they trust you. They trust you because you provide useful information.
Remember you must not sell. Only give information and recommend products that will help solve your readers’ problems. Avoid words like Buy NOW.
Would you really buy from someone you have never met? I doubt.
Deadly Mistakes To Avoid As An Affiliate Marketer
1. Spreading Yourself Too Thin In The Beginning
There are millions of products available for affiliate marketers to promote. Getting access is mostly free. This brings the temptation to want to sign up with every other affiliate program under the sun. After all, we want to make a fortune, don’t we?
This is detrimental. You will be accepted in so many programs but you won’t achieve much if you juggle too many products at the same time if you have no experience.
You are better of focusing on one product at a time. Learn the product and the consumers. Master them and then move on to the next product.
This is the best approach because your first product will continue to earn you passive income while you try to master the next. That’s just the beauty off affiliate marketing.
2.Taking On The Role Of A Sales Person
I mentioned this in the beginning and promised to explain more.
As an affiliate marketer, your role is strictly confined to the pre-sale stage. You should be giving useful information to the reader about the product you promote.
Tell them about the benefits. Give them the pros and cons of the product (No product is 100% perfect).
Be honest and objective. Tell them why you recommend that product. It will be because of its benefits which outweigh the cons. Otherwise, why would you waste your time promoting it?
And remember, people, don’t like being sold to. They make their own minds when they are ready to buy.
3. Choosing Low Converting Products
The great thing about affiliate marketing is that you are in control of what products to choose. So you need to choose wisely. Go for products with high conversion rates so that you can make money.
Otherwise going for low converting products is not fair on you. There is a lot of work that goes into promoting a product. Shouldn’t you be compensated fairly for all your efforts?
This is one of the reasons why most beginners quit and conclude that affiliate marketing is dead or ” affiliate marketing is a scam”.
4. Having Unrealistic Expectations
As simple as it may sound, affiliate marketing involves a lot of hard work to set up. You will work really hard initially, without making any money. But once your business takes off you can expect spectacular results. You cannot produce 3 articles and 1 video and expect that to make you rich!
You need to produce a lot of quality content before seeing the money. Don’t quit keep grinding. Hard work always pays.
Treat affiliate marketing as a business because that’s what it is. With every business, you have to put in a lot of hard work and financial capital before you start making a profit.
Especially if you are a beginner, you need to invest in training and tools to get you started. There are lots of great courses out there. some are quite expensive. Luckily there are also quite affordable ones.
In my opinion, Wealthy Affiliate is the best place to start your affiliate marketing training. They give you lots of training, support, and tools for a low price.
Affiliate marketing is still alive and kicking. It is here to stay and remains the “easiest” way for ordinary people to make money online. By easiest, I mean anyone who is willing to learn can do it.
Product owners are always looking for promoters. You don’t have to pay the owner to promote their product. You don’t have to own the product yourself.
If you do it the right way, affiliate marketing can earn you beyond full-time income online.
Thanks for taking the time to read this post. I hope you got the answers to your questions. Please share this post in your network. I would love to hear from you. Share your comment below
I wish you a successful affiliate marketing journey!