These days, there are several ways of making money online from anywhere in the world. If you’re thinking of an inexpensive and easy way to augment your income online, then affiliate marketing is your best option. Affiliate marketers earn commissions by promoting products using affiliate links on their sites or social media platforms. The New York Times in 2017 described it as the art of telling stories so enthralling that people lose what is in their wallets”.
Here are a couple of terms you should familiarize yourself with as a newbie before delving into how affiliate marketing works.
Affiliate: An affiliate is also known as the publisher or marketer, and they range from single individuals to an entire company. They earn commissions for marketing other people’s products or services online. They monetize their blog or social media posts by adding affiliate links.
Affiliate link: A link that leads to a product or service being marketed by a merchant. Every affiliate link is unique to an affiliate marketer, making it easier to track which product they’ve sold and how much money they’ve earned. An affiliate program or network generates these links.
Consumer: Consumers are the visitors who purchase a product by clicking an affiliate link on a publisher’s site or platform.
Merchant: This is the company or individual whose service or product is being marketed by the affiliate through the program.
The network: These are the third-party platforms that run an affiliate program. They are the bridge between marketers and merchant or service providers. The network provides the affiliate links, and they ensure that an affiliate marketer gets paid their commissions. There are different affiliate programs out there, but it’s best to work with one that has a trusted and reliable network. Clickbank has a reputation of being trustworthy with timely payments and some of the highest-paid commissions as high as 90% in affiliate marketing. That’s why their network keeps growing, spanning over 200 countries worldwide.
How does affiliate marketing work?
Businesses that use an affiliate marketer’s service share the responsibilities of product marketing by leveraging various individuals’ abilities for a more effective marketing strategy while providing contributors with a profit share. Here’s how it’s done:
- An affiliate shares a post on their site or social relating to a product.
- Within the post is an affiliate link that leads to the product’s page.
- Consumers read the post and click on the affiliate link.
- Once a purchase is made on the merchant’s website, the affiliate marketer earns their commission.
Affiliates either get paid using the pay per sale method, the pay per lead method, or the pay per click method. These methods are either based on the affiliate’s ability to convince the consumer to visit the merchant’s website where the desired action can be completed. When a page’s visitor patronizes a product or service based on an affiliate’s referral, they earn a commission on that purchase. An affiliate can make a few hundred dollars in commissions each month by promoting multiple affiliate products and convincing potential customers to purchase.
RELATED POST: Content quality and selection of the right product is crucial for affiliate marketers. Check out our article on THE BEST GUIDE TO AFFILIATE MARKETING (Add the article’s link)
Why should anyone consider Affiliate marketing?
- Affiliate marketing is the perfect side hustle; it is low risk and easy to start because you don’t need much cash up front to start this business.
- It’s a lucrative way to make money without any special skills or sophisticated technology.
- You can start with just a website or your social media platforms as a medium for marketing.
- The freedom to choose what to market and full control of what gets featured on your site.
For decades, Clickbank has been the affiliate market choice for global entrepreneurs looking for innovative ways to enable growth in their business. If you’re ready to make your first sale as an affiliate or transition your business online, you can sign up for Clickbank’s Learn with Spark to gain the right knowledge to jumpstart your business.
Hendrickson, Megan. A Beginner’s Guide to Affiliate Marketing. 19 December 2019. 10 December 2020 <https://www.dreamhost.com/blog/beginners-guide-to-affiliate-marketing/>.
Ong, Si Quan. Affiliate Marketing for Beginners. 26 August 2020. 10 December 2020 <https://ahrefs.com/blog/affiliate-marketing/>.