I wanted to take a step back today and just go over in general what affiliate marketing is and how to get started in it. Being in this industry for so many years it is some times hard to think there was a point where I didn’t even know what affiliate marketing was! This post is designed to help any beginners to affiliate marketing understand it along with a few bonus tips.
What is Affiliate Marketing?
In general what affiliate marketing is, is the selling of someones product or service and earning a commission on it. This could range anywhere from a one time payment to a monthly, weekly even daily commission earned by.
This process has been happening offline for years and is the simple exchange of recommending a product or service to someone else and for that earning a commission or percent of the sale to the person that referred them there.
*Tip – You can see by the above how key it is to be trusted in this industry. What you recommend and promote directly reflects on you as an affiliate marketer. If you recommend junk your list and people reading your posts etc will quickly turn face and run the other direction. It is very important to use or test the products and services before you recommend them to others.
The Blueprint of Affiliate Marketing
While methods of drive visitors to websites has changed over the years the core blueprint of affiliate marketing still remains.
Visitors x Click Rate = Referred Visitors
Referred Visitors x Conversion Rate x Average purchase price = Referral Revenue
Referral Revenue x Commission % = Affiliate marketers revenue
*Tip – I honestly believe that social networks and blogging have become the mainstream of affiliate revenues online. But also building an email list via your blog has proved invaluable. I have two bog posts which will help you build an email list with your blog – Email marketing plan and Maintaining your email list.
Strategies To Sell As An Affiliate
With the recent explosion of affiliate marketing it can be hard to compete with others who might be promoting the same product/services as you. Here are a few ways to get the edge and offer up more value.
- Coupon Codes – Discounts are some times granted to affiliates via a special link from the company. They often do this with larger affiliate marketers since they know they can push the numbers and want to leverage this.
- Product Review – What better way to promote a product or service then to use it yourself. Then write up a honest review on it no fluff no BS just your own personal experience the good the bad and the ugly.
- Rankings – Likely the affiliate product you are looking to promote has competition. If you test many of these you can write up a product rankings report based on all of them and show what one has over the other or does better.
Overall affiliate marketing is easy to get started with. The real trick is figuring out how to earn a profit with it. If your brand new I recommend trying some free or low cost methods first. Starting a blog for one is a very low cost way of doing this however without promotion of it don’t expect much traffic for the first few months or even year, OUCH! Remember building your email list with a program such as AWeber on the related affiliate products is a great way to build income with affiliate marketing. You will increase your reader base, build loyalty, build trust and overall increase the chances of building a strong income with affiliate marketing.