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“If you don’t find a way to make money while you sleep, you will work until you die.” – Warren Buffet (World’s 6th Richest Person)
According to this quote of Warren Buffet, the sixth richest person in the world –
“If you don’t find a way where you can make money while you sleep, then you will have to work until you die.”
You must be thinking that how can someone make money while sleeping or resting?
For that, one has to be active, one has to go out of the house, only then money can come.
But, in today’s digital age, this is absolutely possible, and this is called Passive Income.
Although there are many ways to generate Passive Income, but Affiliate Marketing is the most Advanced & Technology Driven method among all those methods.
So that you are aware of this new way of earning money, in today’s blog we are going to shed light on Affiliate Marketing.
We will see what is Affiliate Marketing, how it works, what are its benefits and other facts related to it.
So let's start this blog..
What is Affiliate Marketing
Affiliate Marketing is a way of selling products or services through which you earn money by selling the products of another person or company.
The most special thing about this marketing technique is that for this you do not have to create your own product or service.
Rather, you get money in the form of commission by promoting someone else's product.
There are two ways of doing Affiliate Marketing -
- First, under which you can promote the products of a company or seller by joining directly. In return, you get some commission from the company.
- Second, you can promote the products of your choice by joining an affiliate program and earn money in the form of commission.
Once you only need to create a good online presence, after that you can put your affiliate links everywhere on your website, YouTube channel, social media profiles, etc.
It is said about Affiliate Marketing that if you implement it correctly, you will keep earning even while sleeping.
This is true to a large extent.
So, it is very important for you to understand this new earning method.
So, I think that after reading this much, you must have understood the meaning of Affiliate Marketing.
Let us talk about some Affiliate Marketing terminologies before moving forward.
Understanding these will make it easier for you to understand the Affiliate Marketing Definition and Affiliate Marketing Basics will be clear for you.
Affiliate Marketing Terms and Conditions
Let us understand some basic terms of Affiliate Marketing. It is very important to know these terms well to understand this marketing method.
- Affiliates
Affiliates are people who promote an affiliate product on their online platform such as website, blog, YouTube channel, etc.
- The Merchant
Merchants are companies or brands or retailers who create their products and give some commission to affiliates for promoting them.
As an affiliate, you have to connect with these merchants and take the affiliate link of their product and put it on your online sources.
- The Consumer
The consumer is the customer who buys your affiliate products and in return gives you a chance to earn some money.
It is impossible to do affiliate marketing without a consumer or customer.
To deliver affiliate products to your consumer through content, you have to use various strategies of the digital ecosystem.
- Affiliate Link
Affiliate Link is the URL of a product which is provided by an Affiliate Program (like Amazon, Flipkart, ClickBank).
You put this link on any of your online platforms and if someone buys that product by clicking on this link, then you get money in the form of commission.
For example, if you want to become a Graphic Designer, then by using a tool like Canva, you can present your thoughts in front of people in the form of design.
- Affiliate Commission
Affiliate Commission is the price of a product which is given on the sale of that product.
All Affiliate Programs offer many different types of Commission Rates.
For example, Amazon Affiliate Program gives 0.2% – 9% Commission on its Affiliate Products. At the same time, some companies also offer 50% – 60% Commission on their products.
- Affiliate Program or Network
Affiliate Program or Network includes all those companies or marketplaces that provide affiliate links to sell their products.
For example Amazon Affiliate Program, Flipkart, ClickBank, vCommission, Reseller Club, etc.
- Payment Threshold
Payment Threshold is the minimum amount or balance which you can transfer to the bank only after completing it.
The more you sell affiliate products, the more commission you get and your account balance reaches your threshold limit.
Once you reach the threshold limit, you can transfer that amount to your bank only.
Different affiliate programs have different payment thresholds.
How Affiliate Marketing Works?
To properly execute Affiliate Marketing, it is very important to have three parties – The Affiliate, The Seller, and The Consumer.
The Affiliate: Affiliates are those people who advertise & promote Affiliate Products.
The Seller: Seller is the company or merchant or agency that gives commission to people to increase the sale of its products.
The Consumer: Consumers are those people who buy that affiliate product or service by clicking on an affiliate link.
Let us now see how affiliate marketing works with the coordination of these three parties.
Step 1: Select the product you want to promote according to your niche.
First, you have to do some research and select a niche which is profitable and in which you are interested.
Once you select the niche, you have to find those products which will give good commission on selling.
Step 2: Select Merchant or Best Affiliate Program according to your selected product and take Affiliate Link.
After selecting the niche and product, you have to become an affiliate partner with a merchant or join an affiliate program.
These affiliate programs provide you an affiliate link which is unique for each affiliate partner.
Step 3: Keep creating content and build a strong relationship with your audience
Before earning money from affiliate link, you have to earn the trust and love of your audience.
If your audience trusts you, only then will they click on your link and buy your recommended product.
To gain their trust, you have to continuously create quality content.
One thing to keep in mind here is that you can use different forms of content to advertise or promote your affiliate product.
You can write a blog, write a product review, make a YouTube video, and post some promotional content related to that product on Instagram and Facebook.
You can use a designing tool like Canva to create visual content.
Step 4: Generate Commission by placing Affiliate Links on your various Online Platforms
Now if you have a website then it is a very good thing, because it will work as a digital asset for you.
However, even if you do not have a website, it is not difficult for you to do affiliate marketing.
After clicking on the link given by you, some cookies are created in the browser of the person which do not expire for some time.
Let's understand this through an example:
Let's assume that you put an affiliate link on your website, YouTube description, WhatsApp, or any social media platform.
Now if a visitor clicks on that link, cookies will be created in his browser for some time.
The expiration time of these cookies ranges from 24 hours to 30 days.
Let's make it more simple.
A visitor wanted to buy goods by clicking on your Amazon affiliate link, but in the meantime he went away without making a transaction.
Now if he buys anything from Amazon again within 24 hours, you will get whatever commission is there on those products.
Affiliate Marketing Benefits
I think that after reading this blog, you must have got good information about what is Affiliate Marketing, how to do Affiliate Marketing, etc. and you must have come to know the meaning of Affiliate Marketing.
Now let's talk about what are the benefits of Affiliate Marketing and how your side-hustle can take the form of a profitable business.
You don't need to create your own products.
Before starting any business, you have to think about your product development.
You have to see what your target audience needs. According to that, you have to design your products or services.
But in Affiliate Marketing, you do not need to think about product development at all.
You just decide your niche and join the best affiliate programs and from there you also get the link of your affiliate product.
For example, if you want to convert leads through email marketing, then for this you will need to develop a software or email marketing tool.
But, ConvertKit removes this problem of yours and works as an excellent lead converter for you.
This is a cost-effective and low-risk business
To start any business or start-up, you have to invest a lot of money.
But, you can start Affiliate Marketing with less money and make your Affiliate Marketing Business profitable in a short time.
One thing to keep in mind here is that to start this, you do not need to pay any money to any Affiliate Program or Affiliate Company.
To set up any company, you have to take care of Space Rent, Manpower Cost, etc.
But, here you do not need many people. Rather, in the beginning, you can do this work alone from your home and earn money.
It is the best passive income source of today's time.
In a regular job, you need to be present in front of your desk to earn money or you need to be actively involved.
But, in this business, you can generate income even while sleeping.
Once you start, you just need to create your digital presence and earn people’s trust.
Gradually, your campaigns start running well and your links start getting more clicks.
More clicks mean more conversions and ultimately more profit.
You don't have to think about customer support.
In Affiliate Marketing Business, your job is to advertise and sell the right Affiliate Product to your audience.
Here you do not have to deal with things like Customer Support or Customer Satisfaction.
For this, whatever Affiliate Programs or Affiliate Companies you have selected, they deal with your Customers.
In this way you work as a bridge between Seller & Customer.
It is a flexible business that can be done anywhere and at any time
If you want to start a business where you get time freedom as well as location freedom, then Affiliate Marketing is for you.
This is a flexible business in which you can start a new income stream by devoting a little of your time.
If we talk about beginners, they can start it along with their regular job.
As good results come through campaigns, the business will become profitable and will become an additional source of income for you.
Best Affiliate Marketing Programs to Join
As the reach of internet is reaching every home nowadays, new sellers are also paying good commission for selling their digital products.
But, every seller or merchant who is offering good commission rate is not necessarily providing quality product and best customer support.
Therefore, we have mentioned some popular affiliate networks below, which are quite old in the affiliate marketing field and offer good commission rate as well as good customer support.
Amazon Associates
Amazon is the world's largest e-commerce store, which sells more than 350 million products every year.
Amazon offers 0.2% - 9% commission on its affiliate products.
To join this, you have to create your Amazon account and become an Amazon affiliate partner.
Amazon provides you three different types of affiliate links - Text Links, Text & Image Links, Image Only Links
Flipkart Affiliate
Flipkart is also one of the largest e-commerce stores in India which delivers everyday items to every home.
Flipkart offers 0.1% - 18% commission rate on its products, which differs according to Desktop, Mobiles & Apps.
Flipkart also offers a real-time report of your affiliate links where you can track the performance of your referral links.
vCommission Affiliate
vCommission is an Indian Affiliate Network that provides an opportunity to promote many digital products.
Many advertisers are associated with it like - GoIbibo Affiliate, Yatra.com, Axis Bank Home Loan, Tata AIG Insurance, etc.
To join this Affiliate Program, you have to create your account which can take about 3-7 days to get approved.
vCommission offers commission based on its different categories and advertisers.
ResellerClub Affiliate
ResellerClub is an Affiliate Program that gives commission to affiliates for promoting its reseller products and hosting.
You can promote Reseller Affiliate Link through your Website, Blog, Forum, Social Media Platform, and Email Marketing.
When a visitor clicks on your reseller affiliate link, cookies are stored in their browser for 60 days.
Not only this, by promoting ResellerClub's products and hosting, you can earn up to Rs. 8000 on every sale.
BigRock Affiliate
BigRock is an affiliate program that allows you to promote its digital products such as domain and hosting.
By promoting their products, you can earn up to Rs. 10,000 commission on every sale.
They provide affiliate links or banners to promote their products, which you can advertise and earn money.
ClickBank Affiliate
Clickbank is one of the best affiliate programs for beginners with its 6 million products.
ClickBank offers up to 75% commission to its affiliates and hence it is also called High Ticket Affiliate Marketing Program.
So here we talked about some popular & Most Loved Affiliate Marketing Programs.
Apart from these, there are many other programs which you can join and become their affiliate partner.
These include – GoDaddy Affiliate, Hostinger Affiliate, eBay Affiliate, Bluehost Affiliate, etc.
Affiliate Marketing Mistakes To Avoid
Are you a beginner and hearing Affiliate Marketing Terms for the first time?
If yes, then you may face some difficulties in starting this business.
But you do not need to worry about it at all.
Affiliate Marketing is also a part of Digital Marketing for which you have to take learning.
For this, you will have to learn Digital Marketing well and apply the things mentioned in it practically.
Apart from this, you have to avoid some mistakes while starting Affiliate Marketing Business.
Let us know what are those mistakes which are made by Beginner Affiliate Marketers.
Creating Poor Quality Content
Affiliate sales depend on how many people have clicked on your affiliate link.
Therefore, to attract more and more people, you have to provide value through your content.
You have to win the trust of your audience and always avoid poor quality content.
Putting your affiliate link in various places
Whenever you use affiliate link on your website, do not repeat it again and again.
Many people repeat the same affiliate link several times on their website page, due to which your content seems less informative and more promotional.
By doing this, the user experience also gets spoiled and gradually the traffic of your website starts decreasing and there is no sale.
Promoting affiliate products that are not useful for the audience in pursuit of more commission
Most of the new affiliates, in pursuit of extra commission, start promoting such products which the customer does not even need.
The thing to keep in mind in affiliate marketing is that you have to focus on quality serving while paying less attention to your earnings.
By doing this, you win the trust of your audience.
So advertise only such products which can benefit your consumer.
Not giving honest opinion while reviewing the product
You will be able to build your strong customer base only when you give them your honest opinion for anything.
Your audience values & respects you and believes in what you say.
So try to try any product yourself before recommending it.
It is possible that whatever promises are being made by that product are not meeting the expectations.
Ignoring the Payout Threshold
We have already discussed about the Payment Threshold above.
Different affiliate programs have their own limits.
Beginner affiliate marketers do not read about this limit, due to which they have to face problems later.
Not taking product feedback from your audience
When your customers use the product recommended by you, it is not necessary that everyone has a good experience.
It is possible that the product is not meeting the expectations that you had promised.
In such a situation, it becomes important for you to take feedback from them.
Frequently Asked Questions
1.How to select your niche for doing affiliate marketing?
Whether you are a blogger, YouTuber or a content creator, you have to select a niche according to your interest and public demand.
You have to see what is the market & public demand of the field in which you are interested and how is its future growth.
Once you have done this research, you can select products in your selected niche.
2. Where and how to promote your affiliate product links?
You can use your website, blog, YouTube channel, or your various social media platforms to advertise your affiliate links.
Many affiliate programs provide you links in textual or image form on which you can write a complete review article or make a promotional video.
3. Can you start affiliate marketing without a website?
This question is the most bothersome in the mind of a beginner affiliate marketer.
The answer to this is that if you have a website, then it becomes a little easier for you to do affiliate marketing.
However, it is not at all true that affiliate marketing cannot be done without a website.
You can use platforms like YouTube, Instagram, Facebook, LinkedIn, Pinterest, etc.
4. Which is more profitable among affiliate marketing and Google AdSense?
Although both the methods are considered to be an excellent income generating asset.
But, it is a bit difficult to tell which of the two methods is more profitable.
If your website is getting a lot of traffic, then in such a situation Google AdSense can generate more income for you.
On the other hand, in the case of affiliate marketing, more traffic does not matter, but what matters is how many sales you make.
The most important thing is that both these methods can be used together on the website and both the methods can generate multiple sources of income for you.
5. Is it necessary to have your own product to do affiliate marketing?
As we have already read above in this blog, you do not need your product at all to do affiliate marketing.
You just join a good and trusted affiliate program and earn money in the form of commission by advertising their products.
6. Do you have to do any special course to learn affiliate marketing?
No! You just need to have basic knowledge. Along with this, if you have knowledge of digital marketing, then it will be very easy to learn and do it.
You will make fewer mistakes and will be able to grow faster than others.
By learning digital marketing, you will be able to create multiple sources of income for yourself.
In Digital Marketing, you will not only get to learn Affiliate Marketing but also trending skills like Social Media Marketing, Social Media Optimization, Copywriting.
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