If you are thinking of starting a business or you may already have one, but if you don’t have a lot of money to spend on marketing…, What should you do…? If that’s what your problem is, then I have a great solution for it i.e., Affiliate Marketing. So, what exactly is Affiliate Marketing and how to leverage it to see some really really good profits…?
Well, let’s dive into the details.
The cool part about Affiliate Marketing is that it is performance-based marketing. If someone drives you a lead or sale, you pay them out. You pay them on a cost per acquisition. An acquisition may be a lead or a sale, you can decide whatever suits you. And you also get to decide what to pay them.
For example, if your product sells for 500$ and your margin on it is 250$, then you are operating on a 50% margin and if you feel like if anyone gets you a sale you are willing to give them a 100$ then you can offer the same to the affiliates to boost your sales.
The affiliates may drive sales or traffic whatever you decide, to your website by using SEO techniques, PPC advertising or Facebook advertisements and what not… All you have to do is make a deal that would work out with the affiliates and the rest will be taken care of by them.
That’s what affiliate marketing is all about.
Now, there are a few things that you need to know about affiliate marketing.
How does affiliate marketing work?
The retailer supplies each affiliate a unique link to monitor who had been accountable for a purchase. The connection will usually appear something like this:
Whenever someone clicks this link, a small file known as a cookie becomes saved in your device.
An affiliate cookie does just two things:
- It enables the merchant to feature the purchase back to the Ideal individual;
- It (usually) retains an expiry date, which means you get paid if the purchaser waits for their buy.
Here is a good illustration of how it works.
Imagine a reader visits your article about the very best winter coats. They click on on one of the affiliate links, causing them to merchandise on Amazon.
Nevertheless, they understood they must pick their daughter up out of college. They leave their residence, pick up their kid, have dinner, then eventually return to Amazon, where they locate the item again.
Since they are currently buying Amazon, they opt to buy some ski equipment also.
Here is fantastic news. Before they clicked on your affiliate website along with a cookie cutter has been saved in your device. Since Amazon has a 24-hour cookie length, you get paid for the winter coat and ski equipment –although you did not market the latter.
How much cash could I earn as an affiliate marketer?
The easy answer is there is not any limit. It is dependent upon your specialty and the quantity of work you put in.
The most prosperous affiliate marketers earn seven or six figures per month.
For instance, in Smart Passive Income, Pat Flynn created over $100,000 in affiliate commissions in December 2017.
Ryan Robinson, an affiliate marketer, also reported $19,000 in affiliate sales in October 2019. Another thriving affiliate site –The Wirecutter–created the estimated $10 million in earnings and was finally sold into the New York Times for about $30 million.
Remember, though, that these individuals have done a superb job creating their brand new.
If you are starting, your tests may seem more like that for some time:
You have to supervise your preferences. You won’t get the big bucks straight off the bat, however, do not let this dissuade you.
The others’ achievement informs you that with hard labor, time, and the perfect understanding, you also can achieve those amounts.
Recruitment of affiliates
It is really not so easy to recruit an affiliate. You can just search for affiliates online and make a deal with them. It’s just not that simple. In order to find affiliates, it is better for you to join networks like Clickbank, so when you join these affiliate networks and talk to them, they can guide you through pricing your product for CPA and the amount you need to pay to the affiliates every time they generate sales for your store.
They do all this in a way that neither of both parties i.e., you and the affiliates should end up in loss. For example, if you decide to pay 10$ for every sale you get but the affiliates need to spend 20$ to drive that sale to you…, then it doesn’t make sense. So, in order to avoid all these confusions, it is better for you to hire affiliates through an affiliate network.
Optimize your website
Okay, you have successfully hired an affiliate for your business. But don’t yet sit back. It doesn’t end there. The second important thing you need to do is continuously optimize your website. If your affiliates are driving traffic and that traffic is not converting into customers, then there might have two reasons behind it.
One possible reason is your affiliates might have drawn unworthy or false traffic to your website. But this rarely happens because almost all the affiliates are good at what they do.
Another possibility is an unoptimized landing page. Yes, even if there are a lot of visitors to your store, the count of buyers would be terribly less if your landing page is not good enough. You can optimize your website by conducting surveys on how to improve your website and what do users want to see on your website.
You might wanna use tools like Crazyegg, which shows the heat map of your site and this helps to have an idea of how most of the users interact with your website so that you can optimize your site accordingly.
So, what are you waiting for…? Boost your business online with affiliate marketing.