How To Be Successful In Affiliate Marketing – For many people, the holy grail of internet marketing is earning you significant passive income. Once you’ve done a little upfront work, you can sit back and wait for the money to roll in. Of course, for most people, it’s not as easy as that, and like King Arthur’s knights, many never find their nirvana.
But some people manage to make a decent passive income. The most common method to reach is affiliate marketing. You promote other people’s products, make sales and get to keep a portion of the profits. Other people make the products; you promote them and get paid for your efforts.
How To Be Successful In Affiliate Marketing
Of course, there are some pitfalls along the way. It’s hard to sell online if no one knows you exist. But if you already have a sizable online following—perhaps you already qualify as an influencer, for example—you have the potential to earn a lucrative and sought-after passive income.
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In many ways, affiliate marketing is a modern version of traditional commission sales. Brands (affiliate merchants) pay a percentage for every sale an influencer (affiliate marketer) generates.
Affiliates promote the products using a unique link on the brand’s website. When buyers purchase the product from their link, the affiliate earns a commission as a reward. Websites use cookies to track the buyer’s visits so that even if they decide to buy later, the sale is still credited to the affiliate.
Affiliate marketing is a form of income sharing. People who have products, but not a captive audience, can expand their market by working with people who have an audience, but not a product.
Affiliate marketing involves either three or four parties, depending on each individual’s circumstances. The consumer pays the money. Each of the other parties takes a cut of that money. The relevant groups in this transaction are:
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Product manufacturers produce, import or acquire products to sell. They decide to share a percentage of the sales revenue with the people who sell their products.
Depending on the size of each author, they will decide to either work directly with affiliate marketers or work through an affiliate network.
When someone decides to work as an affiliate marketer, they usually sign up with one or more authors or affiliate networks. At this point, affiliate marketers often decide what products they want to sell.
The author or affiliate network will give a custom code to each affiliate marketer. This means the affiliate marketer can insert their code into the URL when linking to products they want to promote and the creator/affiliate will know who sent each customer who makes a purchase.
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Affiliate marketing is a lucrative business that can earn you a lot of passive income when done right. The promise of this “earning while you sleep” is what draws many people to try their hand at affiliate marketing.
There is a wide variety of people who choose to become an affiliate. Some of the most common are:
On the surface, affiliate marketing seems like an easy way for someone to make money. The problem is, unless you already have a sizable online audience, it can take a lot of time and a lot of work to build a large enough audience that you can sell your products to.
But there is one notable exception to this rule. Influencers already have a sizeable audience. And by definition, influencers have enough power over their audience to convince them that buying those products would be a good idea.
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When you’re an influencer, your followers already trust you and value your authenticity. They know you won’t risk your reputation by accepting a bad product. Followers will almost immediately buy anything an influencer uses and specifically endorses.
Merchants can expect their product sales to skyrocket if they get an influencer as an affiliate. On the other hand, influencers can expect a steady stream of income. Unlike a sponsored campaign where they earn only for a limited time, being an affiliate allows them to earn for life as long as the product continues to sell.
A Business Insider interview revealed that influencers earn anywhere from $50 per month to more than $25 per month for affiliate links alone. Industries can range from finance to skin care, with followers ranging from 2,700 to 1.7 million.
Here are some influencers who have built engaged audiences and are now running successful affiliate businesses. The income of these influencers was confirmed by Business Insider.
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Influencers with all audience sizes can earn affiliate marketing. If you are already using the products and these are products that you know would appeal to your audience, then feel free to reach out to these brands. You’d be surprised how many people are willing to work with influencers and share the profits.
More than 80% of brands use affiliate marketing and more than 40% of marketers agree that it is an effective way to attract new customers. Here are some great examples of brands using affiliate marketing to grow their business.
Canva is a design platform that allows affiliates to earn $36 for every new Canva Pro subscriber. They support their partners with an easy-to-use dashboard, simple and timely payments, and priority customer service.
Canva is a growing platform that is already used by more than 18 million users worldwide. It helps users create stunning and intuitive designs that they can use for social media posts, website graphics, and even printed content. Users can do everything from graphic design to image editing.
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Canva’s best partners are influential designers, design educators, and just about anyone with a large target audience. The brand’s goal is to become a household name in design software. Currently, Canva has more than 8,000 affiliates worldwide and affiliates can earn up to $3,000 monthly in commissions.
Get Response is an online marketing software solution that is perfect for small and medium businesses that need help running an online marketing strategy. Their free-to-join affiliate program is great for bloggers and influencers who specialize in small business consulting and digital marketing strategies.
Get Response has two attractive affiliate programs – a recurring program and a one-time advance program. Affiliates can decide whether they want to earn a recurring 33% commission for each payment a referred user makes or receive an upfront $100 per signup. Get Response pricing starts at $15.58 per month.
To help its affiliates earn, Get Response offers free marketing materials such as sales copy, videos and web banners. They also provide detailed referral statistics to help affiliates know how much they have earned.
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Affiliate marketing works well even for non-digital brands like those in the cosmetics industry. If you are a beauty influencer, you can sign up for the BH Cosmetics affiliate program and earn a 6% commission on every sale generated through your link. The average value of an order on their site is $38.
BH Cosmetics offers vegan and cruelty-free products, making them a popular choice among sustainable consumers. To help their affiliates, they offer web banners, monthly newsletters, coupons and other creative content.
More and more people are pursuing lifelong learning through online learning platforms. Coursera is a great platform that offers more than 4000 courses from various universities and colleges around the world. They pay a 10%-45% commission on all eligible purchases made through an affiliate link. These can be courses purchased by new or existing Coursera users. There can also be multiple courses made by one user.
Coursera offers web banners, weekly newsletters and text links to help affiliates promote the brand. They also provide access to their product sales section where partners can see eligible and available courses.
Affiliate Program Strategy
More and more entrepreneurs are creating online stores and joining e-commerce to cater to their customers. This means that platforms like Shopify will continue to be popular. If you’re an influencer who inspires your audience to pursue their entrepreneurial goals, then you should consider becoming a Shopify Partner.
It’s free to join, but Shopify has a careful selection process that can take up to 15 days. You need to show a track record of producing original content and an established audience for them to accept your application.
Shopify pays affiliates an upfront payment equal to 2x the monthly plan price for each successful referral. The user must be active for two months to be considered successful. Shopify monthly plans start at $29 and can go up to $2000.
Most brands use a pay-per-sale affiliate model. Tripadvisor is different – they use a pay-per-click model. Partners earn a commission from each visitor who lands on the Tripadvisor site and then clicks through to one of their hotel booking partners. Even if the user does not complete the booking, the affiliate earns a commission.
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Tripadvisor pays 50% of the commissions they receive from hotel partners to their affiliates. However, CPC rates vary by booking agent, seasonality and length of stay.
For travel influencers, this can be a great affiliate program as there is no pressure on visitors to complete a sale. It is also great for beginners as there is no minimum traffic required to join the program.
Many affiliate merchants
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