With the basic terms clarified, let’s get an overview of how you can best get started with building your affiliate marketing business.
For example, if you’re going to start a blog, you’re going to need hosting, a website and an email marketing tool to start with – so your costs will be under $100 to start with.
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One of the biggest marketplaces to find digital products (e-books, courses and software). Clickbank is where I found Venus Factor. A lot of the best affiliate marketers in the world promote products available on Clickbank. So they’re a legit start. They have multiple payout options, Payoneer (one of my favorite companies – I’ll write a post about them soon), direct bank transfer and even physical cheques. The usual payout threshold is USD10, which means that you’ll need at least USD10 in commissions before they make the payment.
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Then they hope to skim off affiliate commissions from naive searchers reading their fake product reviews and clicking their affiliate links.
There are two ways in which you can start. You can start as a merchant and have affiliates promoting your products or you can start as an affiliate and promote products.
So now that you have a basic understanding of what affiliate marketing is, as well as some common terms used in the industry, you should now learn why you need become one too. 1. Affiliate Marketing is Profitable Affiliate marketing is perhaps, one of the most profitable online money-making opportunities in the world. In Nigeria, affiliate marketing is also very profitable, as there are many merchant companies and web-savvy online marketers. Click To Tweet
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However, YouTube isn’t the only way. Implementing affiliate marketing successfully via other social media channels such as Facebook or Instagram is also possible. Let’s explore all these options!
I have never used this method to promote affiliate products, but forums provide you with better opportunities to promote affiliate offers. People search and ask in discussion forums about their needs for a particular product.
Chris’ Empire Building Kit is a great example of an information product. As is Location Rebel Academy. Often they are higher priced, which means higher commissions They can have a personality behind them, which builds trust and makes them easier to sell There are often full marketing funnels behind them aiding in sales They solve a problem or provide a solution that your readers are looking for
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The BookRetreats affiliate program earns affiliates up to a 6% commission, bringing in $200 to $300 per referral on big ticket bookings.
With a variety of products and merchants, ClickBank is a perfect ground for affiliate beginners.
So if you have a course or product that you’ve personally used and seen a lot of success from, check and see if there’s an affiliate program – because if you’re going to recommend it anyway, you might as well get paid for it!
One more trick is to sell cheaper products. Earphones will sell easier than mobile phones. Cheaper products have higher conversion and lowest chances of product order cancelations. With more sales, you can earn higher. This is somehow the core concept of Amazon Affiliate Marketing. I sold over 1100 under $9 items this Black Friday. As you are just a blogger and not a celebrity — people can only take your words for $9 to $90 and not for $900. Even if you are a pro-pro-blogger, you’re not IGN or CNET(even these sites fail to sell high), if you are thinking high of yourself.
It’s estimated that more than 80% of marketers and almost 85% of publishers leverage the power of affiliate marketing. According to Forbes, affiliate marketing is now responsible for more than 15% of e-commerce sales. That puts it in the same league as email marketing and ahead of social commerce and display advertising—whoa!