There are a lot of myths surrounding affiliate marketing, the most bizarre one being, Affiliate Marketing is dead. Folks, Affiliate Marketing is a business strategy/model and not a living being, so there is no question of it being dead or alive!
What is Affiliate Marketing?
Affiliate Marketing is promoting others’ products or services for a commission.
It simply means sharing the products or services you have enjoyed, with your audience.
In Affiliate Marketing, you would be recommending products or services to your audience which you feel would help them solve their problems.
Please note that in Affiliate Marketing you do not need to make or create a product.
You do not need to stock inventory. Therefore there is no question of cash being blocked and therefore there is minimal risk involved.
How Does Affiliate Marketing Work?
You would have to sign up to affiliate programs, to start promoting somebody else’s products and services.
There are 3 parties involved in Affiliate Marketing:
Affiliate: The person promoting the product or service on their blog (which is you). The affiliate can also be known as a publisher.
Product creator: This is the person whose product or service you are going to be promoting. Product creator can also be called a Merchant.
Consumer: The consumer is your audience or the follower of your blog who would click on your affiliate link and purchase the product that you have recommended to them.
Steps to Affiliate Marketing
1. Select a niche (topic ) for your blog- something you know or are passionate about.
2. Give value or helpful content in the form of blog posts which will bring traffic(audience) to your website.
3. Sign up for affiliate programs related to your niche.
4. Recommend products/services to your audience.
5. When your audience/customer clicks on your affiliate links and buys the product, you will earn a commission (as per the terms and conditions of your affiliate program).
What do you need for Affiliate Marketing?
1. For Affiliate Marketing, you will need a laptop/desktop with an internet connection.
2. Next, you will need to set up your blog with the affiliate marketing tools.
Benefits of Affiliate Marketing
· Provides flexible working, you can work at any time of the day or night from the comforts of your home. Affiliate Marketing is ideal for people who cannot work 9-5. For example, parents looking for flexible work.
· You can work as many hours as you want (minimum of 5 hours a week). The more hours you work, the faster are your chances of success.
· No need for a warehouse as you won’t be stocking any inventory.
· There is no requirement for staff.
· An office is not required either as you can work from home.
· Can provide a source of extra income or can be a side hustle and can grow into a full-time business.
· You can provide value to your audience and help them with their problems through your blog posts.
· Entrepreneurship at a low cost. This is the best era of entrepreneurship. You can easily set up a home-based online business with a minimal investment with Affiliate Marketing.
Things to Remember Before You Start Affiliate Marketing:
1. This is not a quick-rich scheme. Success will not come overnight.
2. Affiliate Marketing requires a lot of hard work patience and perseverance.
3. Promote a few products as a beginner. A beginner might not able to focus on too many products at a time.
4. Stay away from expensive affiliate marketing training courses which have got bad reviews. Do your research.
5. Do not sign up for affiliate programs which are not free.
6. Dive deep and commit to your business. Every business takes time to succeed and so does affiliate marketing.
7. Be focussed and believe in yourself and your business. Through Affiliate Marketing, it is possible to establish a long term sustainable business for yourself.
8. Be open-minded in your learning so that you can grow.
9. Network with other bloggers and affiliate marketers.
10. Be resilient.
Affiliate Marketing is a great business for people looking for flexibility and side income. Do you know of anyone who is into affiliate marketing? What are your thoughts on Affiliate Marketing? Please let me know via comment box.
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