What’s Affiliate Marketing Explained – A Shorter Version
This is going to be a lot shorter than my other post on what affiliate marketing is... Have you noticed when you look online for affiliate marketing information, there's just too much of it and 90% of is pure fantasy island, they may as well have Tattoo voicing the video intro!
Stay clear of the red flags, you'll find some companies promising affiliate marketing will change your life "in days", and systems masking operating as affiliate training programs that are pure scams.
Bottom line, it can be a bit of a maze if searching online for trustworthy information.
I'm going to clear the mist and set the record straight on exactly what affiliate marketing is in the easiest way I know. So start the clock - In the next few minutes I'm going to show you how affiliate marketing works, and from there you'll have all you need to start your own affiliate business which = #ptjobftincome.
You ready? Coolio, let’s go!
The affiliate marketing process, broken down
Affiliate marketing has three parties involved. 1) You've the affiliate (that's you), then there's 2) affiliate program (product or company you are recommending) and 3) all important customer (the person who's buying).
As an affiliate you can join an affiliate program and they'll allow you to promote their product/s or service/s. All affiliate programs will give you your own “affiliate link” unique to you when you join their program. This will give you the ability to promote their services or product, and have everything tracked through your unique link.
If you as the affiliate, send someone to a product website and they buy something, you earn flat rate sale or percentage commission. Usually between 4% – 75%, depending on the product or service.
An affiliate marketing business in action
Let’s say you join the Amazon affiliate program, which is really easy. As an Amazon associate you can promote anything on Amazon. Which is actually kinda huge when you consider the countless items there are on Amazon.
To get paid...
It goes like this: Your buyer searches for some information on an item. They find your website through a social media post, a google search or maybe an email you sent out.
You'll then direct them to Amazon through your affiliate link. At Amazon anything they buy, you'll get a commission on - not just the item they were thinking of buying.
Sell these; I do on my niche sites
Although that may not sound like a lot, you'll get 4.5% commission each copper pan set sold. That works out at $99 or $134.96 to you per set cold. Imagine selling 2, 3 or 4 a day, selling four sets gives you an average of $467 per day.
It's totally achievable to hit those numbers, and most affiliates I know have at least 2 or 3 nice and steady niche sites.
How much & who can be an affiliate?
IMO affiliate programs should always be free, they shouldn’t charge you to promote their products. Chances are programs are charging you to join are not legitimate affiliate programs, more like a MLM or something similar.
Anyone can be an affiliate - In my experience 99% of affiliate programs will allow anyone to join and are completely free. A very small group of affiliate programs may charge a fee to put off dishonest affiliates, but it's rare enough that you'll probably never come across them.
Virtually 85% products purchased online can be bought through an affiliate link. Holidays, childrens clothes to pet food - if a brand or merchant wants more market share, allowing affiliates to promote their goods furthers their reach, it's a win for all parties.
How Affiliate Programs Work
At the heart of any affiliate program is tracking software that allows the affiliate (you) to promote vendor (the company) and earn a commission. The affiliate program will track all clicks, all sales transactions, and calculate all commissions. They also allow you to manage your payment details and personal details.
Here is an example of what an affiliate program stats look like from Amazon affiliate program.
As technology advances so do the affiliate program tracking systems. There are no worries about not getting credited for sending your leads. You can even get into the nitty gritty and see exactly what links are bringing you the most traffic and sales, todays tracking software is well advanced.
A good affiliate program will usually have promotional material for you to use to help promote their products. Banners, videos and sometimes email scripts are included.
The more comprehensive the promotional materials are, the better equipped affiliates are to promote the product or service, so it benefits a company to offer a quality assets to their affiliates.
What is an affiliate network?
An affiliate network has a group of affiliate programs all under one roof. Some affiliate networks operate in just over vertical ie: Health niche, and others that have a whole variety of different affiliate programs associated with it.
There's no hard and and fast rule with which network is best, you've just got to see what they offer. I've also found that some networks can often offer better commissions on the same product!
A few affiliate networks I like to use are:
The Affiliate Opportunity & How to Get Paid.
All affiliate programs will pay you slightly differently, either on a special day, when a threshold is reached or you just withdraw when you like. Usually they'll will offer you different ways to get your payment.
It quite common a program or network to pay their affiliates in US dollars, but some companies will certainly pay you in your own currency if you request it. Most will pay you in one of the following ways:
Smart affiliate programs won’t make it hard to get paid, if they did, They'd soon get a reputation for it online and no affiliates would be willing to promote them.
Do you want to run an affiliate business?
It's a great idea - but like I said in the very first paragraph of this post, it's hard to know who to trust, try it on your own and you've a 1-10 chance of finding a program that works. The issue with many of the programs out there is they don't actually show you how to succeed in “affiliate marketing”. So where do you start your search?
Well I am going to make sure you don't get duped. There's a top class platform in the affiliate marketing space, which I happen to be involved with (and I can help you inside) called Wealthy Affiliate.
I began my online journey almost 10 years ago, a lot of my affiliate buddies hang out. In fact, not only hang out there, but they run their onlines businesses from there too.
This is the one place I'd steer you if you plan on learning affiliate marketing, but also if you want an place where you can get all the training, websites, tools, hosting, coaching and support you need to create and grow a business in the affiliate marketing world.
There are two membership options, a completely free (yep I said it completely gratis) starter membership not even a credit card needed, or the great value for money, advanced premium option ($29 per month at its lowest). I recommend that you get started with the starter membership, I always suggest you 'try' before you buy anything!
Within the first few lessons you will have chosen a direction for your business, have your own affiliate website (with hosting), your own affiliate coach, and access to training that will honestly take you from a pure novice to an affiliate marketing expert.