Affiliate marketing is a referral marketing type. When you refer a new customer to a business that has an affiliate program, you get paid. For example, if you’re an Amazon or Clickbank affiliate and you recommend a product, when people buy that product through your affiliate link, Amazon or Clickbank will pay you a percentage of the sale. (Commission).
The Pros and the Cons of Affiliate Marketing
Pros of Affiliate Marketing
Low start-up costs: Most affiliate programs are free to join. Since the affiliate company takes care of providing the service or product, there is no inventory or supplies for you to worry about.
No product creation or service provides. The company takes care of everything. All you have to do is deliver the clients and customers.
Fast to join. Most affiliate programs have a simple sign-up form and then you can start posting links and ads within a few minutes. Others might have more stringent acceptance into their programs.
No shipping or hassling with returns.
Like any online business, you can make money 24/7 while you sleep or play.
No special license or training is required, but it helps to know how to market and the best ways to promote affiliate programs.
Cons of Affiliate Marketing
It can take time to generate enough referrals to make any significant amount of money.
Success comes from generating targeted traffic. If you don’t know you’ll struggle with affiliate marketing.
Many Internet affiliate programs require that you make a certain amount of money (threshold) before they will release any funds to you.
Some programs have advertising restrictions, such as not allowing you to buy PPC ads under certain keywords or prohibiting email marketing.
How to Start Your Affiliate Marketing Business
Affiliate marketing is one of the easiest businesses to start. While most successful affiliate marketers have a website or blog, you don’t actually need one. To get started:
Choose a niche. Most successful affiliate marketers focus on popular niches to promote a product or service. If you already have a website or blog, that can be your niche.
Research potential affiliate products and services that fit in your niche or with your website. Don’t simply choose a program for profit potential. Check out the program to ensure its quality and that it has a good reputation.
Decide how you’ll promote the affiliate products. As mentioned, the easiest way is through a website or blog. Other successful affiliate marketers set up a squeeze page designed to build an email list, and then promote affiliate products to subscribers.
Of course, your list should provide other non-sales information as people don’t want to be sold all the time. Some affiliate marketers don’t use a website at all, and instead use social media such as Facebook, Instagram, Pinterest, or Twitter.
Many affiliate marketers use a combination of several marketing tactics.
Learn Internet marketing and begin sharing your website, blog, squeeze page or affiliate links.
Attention! Affiliate Marketing Needs Hard Work
There are “gurus” and programs that suggest affiliate marketing is a set-it-and-forget-it system to turn the Internet into a cash machine. While affiliate marketing can be done part-time, it’s not automatic. It requires research and a plan.
You have to know and understand your target market (audience) and you need to reach them so they can click on your affiliate links.
Also, you need to give value, help, and solutions to your target audience to gain trust. If they don’t trust you they will never buy from you. Very Simple!
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