Is becoming an affiliate marketer right for me? Of course it is! If you have a product that someone would pay money for then why not make some extra cash by selling it on your site? An affiliate program will allow you to sell products without having to spend any time promoting them and all you need to get started is an internet connection and a few dollars in your bank account.
Affiliate programs work very well because they provide many opportunities to earn passive income from home. They also offer great flexibility as you don't really know who your customers are so there's no limit to where you could go with them. The key thing though is finding the correct affiliate partners and getting paid quickly once you've made a sale.
The first step towards making this happen is to find out more about affiliate marketing. This post should give you a good overview but here are just a few points to consider when looking at whether to join an affiliate network or set up one independently.
There are two ways to approach setting up an affiliate program. You can sign-up with an existing company such as Commission Junction or ClickBank which both offer hundreds of thousands of products to choose from. Alternatively, you can create your own affiliate program and promote whatever products you like. It's important to note that you'll only receive payment from sales generated through your links so if you're planning on launching your own program then ensure you understand exactly what happens after the customer makes their purchase.
One advantage of joining an established network is that they handle everything including payments (if you want) and managing affiliates. In addition, these companies often have tools available to help you manage your business more efficiently and keep tabs on your statistics which is helpful information to have.
Of course you can! However, you will probably find that most people aren't prepared to take on the responsibility of running an online store themselves. For example, if you were to launch your own eBay shop you'd need to deal with shipping charges, returns, taxes etc. Not only that but you'd need to learn about SEO, affiliate management software and website security among other things. Plus, you'd need to run regular promotions to drive traffic to your site and build credibility before anyone would buy anything off you.
It might seem daunting but it doesn't have to be. There are plenty of excellent resources available to new marketers and even seasoned pros who want to branch into affiliate promotion will benefit greatly by using them. One option is to hire an experienced person to do this for you. Affiliates usually charge anywhere between $50 - $100 per hour depending on experience and expertise. Another way is to use affiliate networks and platforms such as ShareASale, CJ, Amazon Associates and Google AdSense. These services essentially act as middlemen between you and your customers and automatically process orders for you.
To begin with, you'll need to decide what type of relationship you want to have with your customers. Do you want to treat them like friends and let them come back regularly? Or do you prefer to push your wares on them whenever possible? Both approaches have advantages and disadvantages. With the second method you won't always have access to your customers' contact details so you may struggle to send follow-ups and reminders. On the flip side, pushing too hard could cause your customers to switch over to another retailer.
Another factor to think about is how long you plan to stay involved with affiliate marketing. Will you leave the day you close down your first successful campaign or will you continue working until your last customer has been converted? A common misconception amongst beginner marketers is that they shouldn't try to convert every single visitor to a paying member of their list. But remember that each sale represents potential revenue which means it pays to focus your efforts on attracting loyal customers rather than chasing visitors away.
You'll also need to determine how much effort you feel comfortable putting in. Some people simply enjoy doing nothing while others love writing articles and creating videos. Either way, affiliate marketing requires commitment. You must dedicate yourself to learning as much as possible about your chosen niche and building relationships with other members of the community. Don't worry if you haven't got enough ideas yet, there are still loads of places to research and lots of free training courses available to supplement your education.
As mentioned above, you will need to have a web presence in order to successfully engage in affiliate marketing. Whether you host your own blog or use WordPress.com as a platform it's essential to have some sort of'shop'. Unless you have a large budget, it's best to avoid buying domain names unless you intend to sell something. Even then, you'll save money by purchasing hosting instead.
Once you've decided on a name for your site you'll also need to pick a theme and make sure it looks professional. Most themes cost around $20 and you'll easily find dozens of options on ThemeForest. Once you've picked one, install it onto your server and configure it according to your needs. Make sure you read reviews and check the support forums for any issues users encounter.
Finally, you'll need to write content. Blogging is ideal because you can add links to related products within your posts. However, video tutorials are also popular since they tend to grab attention better than text alone. Whatever you choose, make sure your audience can relate to your style of writing. Remember that search engines value unique content so don't copy other bloggers. Above all else, never forget your readers when coming up with your next piece of material.
An affiliate partnership involves signing up with multiple retailers and agreeing to link their products to yours. When someone buys something via your link, you'll receive a commission based on the amount spent. Your payout depends entirely on the terms agreed upon during negotiations and you should thoroughly familiarise yourself with those before starting out.
When working with an affiliate network you will typically be required to fill out forms detailing your demographics and interests. From there you'll be assigned various campaigns based on your preferences and offered opportunities to promote different products. As you gain momentum you can increase your exposure by offering additional incentives to attract new customers. Keep track of the results you achieve and adjust accordingly.
The main difference between working with an affiliate network and setting up your own network is that you will generally have control over your earnings whereas with the former you'll be dealing with a third party. That said, some reputable organizations include commissions from their own affiliates in their overall compensation packages. So if you decide to team up with them, there's little reason to fear being taken advantage of.
Ultimately, choosing the route you wish to pursue is completely dependent on your personal circumstances and goals. No matter which path you opt for, affiliate marketing offers endless possibilities for earning an income from home. And as you progress along the journey, you'll soon realize that it's actually quite enjoyable.
The first thing that comes to mind when people think about becoming a part of the world of affiliate marketing is joining an agency and working with other affiliates on projects. However, there's another way to get involved in affiliate marketing called being an "affiliate marketer." What exactly is it though? And why would someone want to join your company as opposed to going through an agency? Let us explain!
One word - leverage. There's so much potential to grow revenue by leveraging existing relationships and networks online. If you don't already have one then you need to start building them now. The best place to begin is by making contacts with other marketers who could potentially share their products or services with yours. You can also ask customers directly for referrals (yes, just like any offline business). These two methods will allow you to create a list of leads which you can follow up with over time. Follow these steps below to learn more about how to build an effective list.
1) Write down all of the names from both sources and put them into excel spreadsheet. 2) Make sure they're not duplicates. 3) Add notes next to each name indicating whether they've purchased anything from you before or not. 4) Sort by most recent purchase date first. 5) Then go from top to bottom adding new information until you reach the end of the list where you add the last sale made. 6) Use the same process above to gather contact info for everyone else in your list. 7) Send out emails asking for referrals. 8) Do whatever it takes to bring back those leads. 9) Repeat step #7 again and again until you feel comfortable sending cold-emails/cold calls (depending on your preference.) 10) Keep track of everything with Google Analytics. 11) Once you have enough data analyze it using tools such as Excel or Google Spreadsheet. 12) Now you know who has bought from you previously AND who hasn't. It's time to find out what they might buy from YOU!
Now let's look at some statistics regarding affiliate marketing managers. According to PayScale.com, the median annual income of an affiliate marketing manager was $57,000. That's right -- no matter what kind of experience or education level you have, you still won't earn nearly half a million dollars per year unless you work for Amazon. Even then, you'll only see around $50k-$60k depending on location and years of service. While it seems that many people love earning money from home, it can take quite awhile to achieve success with affiliate marketing. So how long does it take to succeed? Well according to HubSpot, the average person spends 1 hour every day doing research related to his or her niche industry. In addition, he or she spends 25 hours researching various ways to promote their product. They spend 15 minutes writing a blog post and 20 minutes creating social media content. All told, that amounts to roughly 300 hours spent promoting their website every month. Not bad! But even better news is that once you decide to quit your full-time job and pursue an affiliate marketing career you will likely save anywhere between 50% and 90% of your previous earnings.
So what exactly does an affiliate marketing manager do? An affiliate marketing manager works closely with the owner of a particular brand. He typically helps set up deals within specific niches and markets. For example, an ecommerce site sells shirts and t-shirts, but doesn't sell ties. Instead, the manager would work with the owner of the shirt manufacturer to develop a deal whereby whenever a customer buys a shirt from the store, the buyer receives free shipping on a tie.
In order to successfully manage an affiliate program, you must possess several skill sets. First, you must understand the psychology behind sales. Next, you must be able to communicate effectively with others and persuade them to listen to your ideas. Lastly, you must always keep abreast of current trends in the marketplace since changes occur very quickly. One minute you're talking about a new trend and the next minute you're selling old style merchandise that nobody wants anymore.
There's no denying that internet marketing is growing exponentially everyday. With millions of websites vying for attention, finding new ways to gain exposure is essential to staying relevant. Affiliate marketing allows anyone to participate in this ever expanding arena without having to invest thousands of dollars upfront. As mentioned earlier, however, it can take months of hard work to turn a profit.
Once you've decided to become an affiliate marketer, you'll probably face one major challenge: deciding which platform to choose. Some platforms offer high commissions while others pay low. Others charge fees for certain types of traffic. Still others require you to sign up for a special membership plan. Before choosing a network, you should consider a few factors:
Do they offer good training materials? A lot of programs claim to provide great instruction but fail miserably when it comes to delivering quality resources. Take a close look at what they say you'll receive after signing up. Is it worth the price tag? Are they willing to give away valuable information for free? Does the program contain downloadable PDFs, videos, presentations, etc.?
Have they been in existence for a long period of time? This means that they've had plenty of time to perfect their system. Ask yourself if the company has grown organically rather than taking shortcuts as soon as possible. Have they survived tough economic times? Did they lose members during recessions? Were they forced to cut costs during difficult times? How well did they survive natural disasters?
Are they backed by reputable companies? Look for brands that have earned credibility throughout the Internet. Brands that have been featured on CNN, Fox News, CBS Evening News, MSNBC, NPR, Bloomberg Businessweek, Forbes Magazine, Time magazine, Fortune 500 companies, Harvard University, Stanford University, MIT, Columbia University, Yale University, Duke University, UCLA, USC, etc., are usually safe bets.
It goes without saying that affiliate marketing requires patience and perseverance. Afterall, you're dealing with real human beings instead of computer algorithms. Your goal is to convince people that you're offering something worthwhile. To accomplish this task, you must constantly monitor your results and adjust accordingly. When used correctly, affiliate marketing offers countless opportunities for growth and expansion. Just remember that if you aren't patient and consistent, you'll never reap the rewards.
When it comes to your online business and revenue generation there's no substitute for having someone who understands that part of your operation in place. That person could be your web developer, accountant, bookkeeper, social media guru, etc. But when it comes to making money from internet sales, you need someone with specific knowledge about the world of affiliate marketing.
An affiliate marketer (or "affiliate" as they're sometimes known) works closely with merchants on their behalf. They provide them with links to products that they want people to purchase through those sites. The merchant then pays commission on every sale made by customers via these links. It doesn't matter whether the product was purchased directly from the merchant or not - all that matters is that it was bought via one of the affiliate links provided by the affiliate.
So what exactly does an affiliate marketing manager do? That will depend on the size of your company and its structure but typically the role involves managing affiliates' accounts so that they generate commissions for you. There are many different types of companies out there offering affiliate programs but most involve selling advertising space on websites. So let's take a look at some of the more common ones.
There are two main ways to go into affiliate marketing. You can either join a network where you'll work with other marketers who have similar interests and offer services such as content creation, website building, SEO, copywriting, etc., or you can try starting out working independently.
The former approach has advantages over the latter because you get exposure to lots of different skills and experiences which would otherwise only come together once you've joined up with another team of marketers. However, you don't always get paid immediately and it takes time before you can establish relationships with advertisers.
Working independently means you can focus entirely on growing your own list of potential clients and getting paid quickly whenever someone purchases a product using one of your links. But you won't learn anything new or build any connections until you actually begin working with others. And even after joining a group, it might be hard to find enough people to form a profitable team.
It really depends on what kind of experience you already have and what level of commitment you feel comfortable providing to a project. If you know nothing about affiliate marketing, consider taking steps towards becoming qualified first. Then you can decide whether to continue on your own or join an existing organization.
Many affiliate networks also offer free training courses to teach you everything you need to know about running successful campaigns. These usually include things like keyword research techniques, finding relevant ads, promoting products effectively, etc.
This varies depending on what type of affiliate management service you choose to sign up for. Some charge per-click while others pay based on monthly subscription fees. In general though, you can expect to earn anywhere between $25-$50 per click, but obviously your earnings will increase with quality traffic.
You also stand to benefit from economies of scale since larger organizations tend to spend more on ad placements than smaller ones. So if you manage 100 affiliates for example, each paying around $30 per month, you'll see bigger returns overall than if you were responsible for just 10 affiliates who paid less.
Some companies offer bonuses for achieving certain goals, including increasing revenues. For instance, Commission Junction offers a 50% bonus payout for those signing up 500 affiliates within six months.
In addition to being responsible for managing individual affiliate accounts, an affiliate program manager needs to ensure that the whole system runs smoothly. A poorly managed campaign can result in lost income due to low conversion rates. Or worse still, it could lead to fraud and penalties being levied against the advertiser.
That's why experienced affiliate managers often have extensive backgrounds in digital marketing. Their expertise allows them to spot problems early and fix them before they develop further.
A very useful skill for affiliate managers to cultivate is the ability to recognize bad data. Bad data is information that isn't accurate, incomplete or simply wrong. Sometimes it happens accidentally but more often than not, it's intentional. An affiliate manager must therefore keep an eye on the numbers coming in and identify discrepancies early.
They also need to understand how to interpret results. Many times affiliate managers will receive reports showing high conversions but little actual profit. Asking pertinent questions could reveal reasons behind this discrepancy. Is the site receiving too many visitors? Are the keywords used driving too few clicks? Does the landing page convert better than expected?
Once they've identified the problem(s), the best course of action is to improve upon the situation. By doing so, you give yourself an opportunity to maximize profits rather than lose money unnecessarily.
As we mentioned above, you need to be familiar with digital marketing tactics in order to succeed in this field. Your familiarity with search engine optimization and AdWords will allow you to monitor keyword performance and optimize ad placement accordingly.
Additionally, it helps to have strong communication skills. Not everyone likes talking to strangers on the phone or emailing back and forth with customers. Fortunately, it's easy to overcome this hurdle thanks to tools like Skype and Google Hangouts. Even so, it's important you're able to articulate your ideas clearly and answer customer queries promptly.
Finally, you need to be passionate about affiliate marketing. When you love what you do, it becomes easier to stick with it despite setbacks along the way. Plus, it gives you energy to tackle new challenges and discover new opportunities.
All in all, the position of affiliate marketing manager requires a blend of technical proficiency and interpersonal skills. Ideally, candidates will possess both areas of competence. But if you're looking to break into this industry, you need to realize it's going to require patience and persistence. In other words, if you want to achieve success, you need to put in the effort now!
Just follow our battle-tested guidelines and rake in the profits.