Introduction to Affiliate Marketing
If you are someone who likes talking about products that you normally use, affiliate marketing is a fantastic way for you to earn some side income. How does it work? Let’s say you are passionate about technology and write a lot about wearable devices. You can become an affiliate with companies that sell such devices. Write about the features of the product in detail, focused towards people who might not be able to necessarily understand the technical nuances of the product, and for each sale that you make when you refer people to the affiliate’s website, you will get a commission. The same is replicated across all industries. Here are some of the reasons why you should get into affiliate marketing.
Wikipedia defines Affiliate Marketing as a marketing practice where a business rewards one or more affiliates for each sale made by the affiliate.
The major thing in this business is that you get rewarded by helping to promote the product or service of a business. For instance, if you sign up for the affiliate program of Tips and Ticks HQ and promote its products, you get a certain percentage which is your commission whenever you send any visitor to the site and they make a purchase.
Affiliate marketing can be said to be one of the cheapest and quickest ways to make money online since it involves no products creation of any kind. All you need to do is to link up a buyer and seller; once the sale is made, you earn your commission.
You don’t have to store any inventory:
Although you get your commissions from an e-commerce site, the onus of the product, packaging, and support is entirely upon the store and not on you.
Easy to start:
The investment required to get into affiliate marketing is not much. Apart from the costs associated with buying a domain and hosting it, there is no other cost involved except for maybe a tool or two (such as benchmarking tools to test product performance, and the like) which would still not put a dent in your wallet. You can write the articles by yourself; if you think writing is not something up your alley, you can outsource the content to freelance writers.
Work from the comfort of home:
You don’t need to have any special degree or skill set to do affiliate marketing, so you can work from anywhere. All you need is a laptop and the Internet.
How to do Affiliate Marketing?
The first thing to do is to join an affiliate program then select the products you intend to sell. The owners of the products would provide you with an affiliate code you can use for referring traffic to the main site. Also, you will be offered banners, text links and several forms of creative copies in which you just copy and paste the code on your own site to refer traffic. Any interested customer who clicks on the links from your website will be redirected to the main site where the product is sold and if they pay for the product or subscribe to a program/service and indicate you as the referral, you get a certain percentage as commission.
Your performance can be tracked by sellers through your affiliate ID and other affiliate software used. You also possess a real-time access to all commission and sales stats. Also, in making commission, you don’t always need to sell products because various affiliate programs employ different terms of payment like:
Pay Per Click (PPC) – You make money online depending on the number of visitors redirected by you to the website of the Merchant from your own site, whether you make a sale or not.
Pay Per Sale (PPS) – The merchant pays you a certain percentage of the price of sales made after a purchase is completed.
Pay Per Lead (PPL) – Once a visitor provides their contact info on the merchant site, you instantly make money online.
How much you earn from affiliate marketing?
In the established affiliate community, I would say that most of us operate in the Intermediate earning category.
Note that by ‘established’, I’m talking about affiliates working full-time in the CPA space.
Just recently a poll was held on the STM Forum (I recommend you join) asking, “How much do you earn in a year?”
Here were the results:
How to Make Money Online in India from Affiliate Marketing?
By now, you should be convinced that you can make money online from affiliate marketing as a passive source of income and must be wondering how to start. As a matter of fact, India is emerging as the largest digital marketing hub and is giving a tough competition to the digitally developed nations.
But you should understand that you won’t become instantly rich by selling product. This type of business is highly competitive because there are many other people into it. How to make money online in India can be simply answered by following these hacks to gain success in the field: through affiliate marketing, you need to understand the market, know how products are promoted, and understand how it works.
7 Tips to Earn from Affiliate Marketing
Here are a few tips that can help you to make money online using affiliate marketing:
- Select a few good products
Most newbies in affiliate marketing make the mistake of registering with too many affiliate programs and try promoting everything they see. If this is the path you are treading, then it will overwhelm you and you won’t promote the products properly. Take time to understand the needs in the market and search for products that will go well with your site’s topic.
- Employ various sources of traffic to promote services or products
Another mistake affiliate marketers make is that they run ads just on their own sites. This isn’t wrong but there are just so many other sources of traffic that you have the chance to use for promotion all at the same time. The more the traffic that your sales page gets, the higher are your chances of making money online.
Google AdWords is a good way to drive traffic to your sales page. All you must do is run an ad in your AdWords account then use the associated link. You will need to measure your conversions regularly to see if the cost of the campaign is less than its profit to keep it running.
- Your Campaign must be Tested, Measured and Tracked
Using several strategies for product promotion is a very good idea because it gives you the opportunity to know which of them works better. You can do split testing and measure each campaign’s performance before taking the appropriate action. Changing a couple things would raise your profit. Banner ads should be placed on different areas on the pages of your site because there are some strategic points that will catch your reader’s attention.
The basic statistics of different affiliate programs are shown and you might need it for your campaign but you can still use a conversion tracking software of your own as well.
- Find out how much the product is desired
To make money from affiliate marketing, you need to ascertain that the product has a high demand. No matter how much efforts you make, you might make little or no sales, it totally depends on the demand of the product. You need to know if it is what your audience really needs. If you manage to get a reasonable amount of traffic on your site, then you can run a small online survey to get input from visitors.
- You should be current with new techniques and methods
This is necessary because of the competitive nature of affiliate marketing and to be able to make money online. Daily, new techniques and methods are developed; you wouldn’t want to be left behind while new trends take over.
- Look for and select the right merchant
When promoting a product, you are also promoting the person or organization that owns the product. This should be the first thing to know before selecting the product you are promoting. You surely don’t want your clients to be unhappy after purchasing the product. Trust me; they will never come back to your site again to purchase anything! This is because you have dented your credibility. Normally, any company or website with good customer service is bound to have happy customers.
- Use the necessary tools
To boost your chances to earn from affiliate marketing, various sites have various tools to make your campaign more efficient. There are a lot of tools which would be helpful out there. For example, if you use a WordPress site, then you should think of getting a plugin that is like the Affiliate Link Manager. Online money making is eased with the usage of right tools.
List of website for do affiliate marketing (India)
- Tata cliq
- Big rock
- Make my trip
- Nearbuy affiliate program
- Ebay affiliate programs
List of website for do affiliate marketing (worldwide)
- Rakuten linkshare
- Cj affiliate
- Amazon associates