We have to admit that recently more than ever, you have a wide range of opportunities for making money without really doing much. Every day, more and more people are looking for ways to make a passive income, not only that but every day the amount of people who want to make money out of blogging and content creation increases exponentially.
If you have a blog and are not making money out of it, you are doing it wrong. There are many techniques and strategies you can use to monetize your activities online. One of these ways is through affiliate marketing. You might not know much about what it is or how it works, and you definitely don’t know how to make money with affiliate marketing even if you are a beginner. But don’t worry, you are about to learn everything there is to know about it, including how you, a beginner, can make a hell lot of money from it.
First, we’ll go through the basics, and then we’ll start talking about money-making.
What is affiliate marketing?
If you want to know how to make money with affiliate marketing even if you are a beginner, you first need to understand what affiliate marketing is, and especially, how does it work. So, let’s get to it.
The whole idea of this marketing strategy is that you are promoting products essentially created by someone else. You can do this either through an affiliate network (which is recommended) or with the company or seller directly. You make the money out of promoting when one of the persons you recommended the product to actually decides to buy it. Out of the profit of the product they bought, you’ll get a commission, meaning a percentage of the revenue the purchase brought.
It is based on the principle of revenue sharing. A person creates a product and wants to increase the sale of that product, what you are doing is promoting the product in order to increase the number of people who buy the product. The advantage of this is that, otherwise, the seller would have to do other forms of marketing, such as paying for a campaign, and usually, you don’t know if those are going to yield. When it comes to affiliate marketing, the product creator would only be paying you if the recommendations you make actually earn him some extra sales. A seller will probably be constantly monitoring their sales to see if the percentage they are paying you is worth how much extra money you are bringing them. The truth is, if you have a good campaign and engaged audience, it totally does.
As the person who promotes, you are called an affiliate. Affiliates usually don’t have a product and want to monetize a platform they own, such as a social media page, website, blog, and other similar things. An affiliate needs to have an audience to recommend the product to, so you can make extra money from them purchasing the product.
How does affiliate marketing work?
Before we get to how to make money with affiliate marketing even if you are a beginner, let’s explain how affiliate marketing works, and how you can make it work for you.
Essentially, affiliate marketing works through the essential participation of three parties.
Two of these three parties divide among themselves the responsibilities or merchandising and creating a new product. The strategy makes the specific abilities of each party play to their advantage and as leverage so that the strategy and marketing are much more effective. They, finally, share the profit after they have sold the product. The third parties are the one that makes the purchase and therefore allows for the other two parties to make a profit out of the product.
Sellers or creators are the ones who have the product and are looking to merchandise them. They are essential because you can promote or buy something that doesn’t exist. It is not important whether this part is a solo entrepreneur or a bigger company, or if they are known as vendor, merchant, or retailer, what matters is that they have a product you are able to sell to your audience and that they want you to do so. Products you promote can either be physical, like actual objects such as household items, or they can be a service, like a fitness training online plan.
Then, there is the affiliate who is going to make sure these extra sales happen. They are also called publishers since they tend to publish content from where they gather the audience they are going to sell to. The affiliate can be an individual or a company too as long as it is looking to market the product the seller is offering. The affiliate has to look for a way to do this that appeals to their audience and persuades them into becoming potential, or actual buyers. A good affiliate will often be trusted by their audience because this way the chance of them buying what they promote is higher. When promoting something, it is common to recommend it and convince the audience as to why they should buy it, how does it benefit them, this is the first step on learning how to make money with affiliate marketing, even if you are a beginner you’ll need to make sure your audience trusts you. You’ll get a commission when one of your readers/watchers/consumers makes a purchase. To make sure that a person is buying something because you are recommending it, you have an affiliate link. The commission will be awarded to you when a purchase is made through that link.
Another thing that is very important to affiliates is that they need a very specific audience to which they promote. They have to choose the products carefully and trying to appeal to the interests of their consumers. That’s when affiliate marketing becomes beneficial for all three parties. Seller’s sell more products, affiliates make a commission out of it and maybe even gain more audience engagement, and consumers are introduced to products that interest them.
The consumers are the last but not less important part of the affiliate marketing strategy. The purchases they make are the ones that make the strategy possible. Doesn’t matter if they know what they are doing the moment they buy or not. A consumer will get offered a product through social media, a blog, or a website. If they decide this product could be interesting and useful for them and buy it, then they start all the process that was explained above. Sometimes a consumer is conscious that their purchase is helping an affiliate since the affiliates are honest about receiving a commission. However, most of the times the consumer will be completely oblivious of the contribution he is making.
Usually, affiliate marketing won’t work through charging higher prices to consumers, they’ll get the same price through the affiliate link as they would if they went directly to the seller’s website. So, the consumer benefits from a much larger process the likely don’t know exists.
The process through which the affiliate receives money can vary. Though it is usually through every time a consumer makes a purchase, they might also get paid if the consumer completes an action, like filling out a survey or subscribing for a free trial. They can also get paid by the click, every time a consumer goes in a link, they receive money. The amount received by the other two options is usually significantly smaller.
Why should you learn about affiliate marketing?
If you are seeking to learn how to make money with affiliate marketing even if you are a beginner, you probably want to know why this is a good way to make money. The main reason to learn about affiliate marketing is probably that you can monetize your online platforms. And you can do this sooner and more easily than if you created your own products. You can also learn what kind of products your audience is into, in case you want to create your own in the future. And you get your audience used to buying things from you and trusting your opinion when it comes to products. All these if you do affiliate marketing correctly, obviously.
Affiliate marketing is easy to implement since the only thing you have to worry about is sharing a link and recommending the product, everything else will be handled by the seller. You won’t need a specialized marketing team, or to be an expert yourself. You do have to make an effort, but it is minimal and you won’t need to invest your own money. The only thing that could be at risk when it comes to affiliate marketing is your credibility, however, if you only promote things you believe in, that won’t be a problem.
How can beginners make money with affiliate marketing?
Now let’s get to the part you’ve been expecting, how to make money with affiliate marketing even if you are a beginner.
So, the first thing you have to do is join a merchant’s program or an affiliate network. Once you choose a product you want to work with you’ll be provided with a unique link, your affiliate link. You’ll have to include this link in your posts, or your marketing emails, inviting your audience to click the link and learn more about the product. Now, if you are a beginner there are some important steps you need to follow to make money out of it.
Step one: Know your audience. You need to know what they are already buying, what they have been asking you to talk about or similar things. Research the products in this category thoroughly in order to make recommendations. If you do your homework correctly, you’ll offer them products they will want to purchase. So, ask them, what products do they like, what they buy often, what products they have been looking for. They’ll often give you very interesting answers.
Step two: Choose your product. If you are a beginner, chances are you are not able to get access to a wide variety of products you can actually recommend, since you haven’t tried them yourself, or they are not available for affiliate, or they are not a good fit for your audience. So, you either choose to promote products you know and love, or you find products through a network and research them. The investigation and fact that you believe in a product are crucial, not only for you to keep on being able to do affiliate marketing, but also to keep your audience engaged.
Step three: Set yourself up. As an affiliate, you’ll need to provide some information in order to get paid. Once you have registered you could even receive some material like guides, tools, or ongoing communication for promotions and new products form the seller.
Step four: Go out and start promoting. Make a recommendation and make it so it is trustworthy. You can either create a resource page on your platform, like a special section where you recommend things (and mention it once in a while so people visit it). You can also create content that is focused on promoting, either reviews, content on the topic, interviews, or whatever comes to your imagination.
Common mistakes beginners do when it comes to affiliate marketing
Now you know how to make money with affiliate marketing even if you are a beginner. No, let’s talk about what not to do.
1. Don’t think you are going to start earning $1,000 immediately. Some do, but you probably won’t. You need to make an effort and engage your audience on buying your products before you start making a significant amount of money.
2. Don’t bombard your audience. We get it you want money, but that will only get them sick of you and confused. Pick a few good partners and stick to them.
3. Not measuring the performance of your campaigns. If you don’t do this you don’t know what products are working and which ones aren’t. You won’t be able to grow into affiliate marketing either.
4. Not researching your products. You need your audience to trust you and to keep coming back for recommendations, not only that but apart from good products, you need to give good content.
5. Overselling to your audience. Just don’t, nobody likes a pushy salesperson. Engage your audience, show them you care about them making good purchases and their sales will just happen.
To YOUR Success,