To make money as an affiliate – Tools and resources you need to know about affiliate marketing as a Start up business
We know what a Affiliate Marketing is but for start ups, it can be a daunting task especially when you don’t know where to start and how to perform on each affiliate programs. Having driven emotions and eager to start is a great way to begin your journey joining thousands of affiliate marketers. Affiliate marketing as you might probably know, is a multi-billion dollar industry and it’s by far the best way to monetize your website or blog — unless you have your own products and services to sell.
But for start ups, let me make this clear before you continue on reading every good part of the content written on this page. An affiliate marketing program is a lot of work, and in most situations there’s a lot of competition so you’re not going to be bringing in money immediately especially if you have limited start up capital funding. Business owners and entrepreneurs suppose that all you need to do is setup a site and choose an affiliate to associate with and then just let it run its course. But according to Three Ladders Marketing, only 0.6% of affiliate marketers surveyed have been in the game since 2013. That means that affiliate marketing takes time and effort to build and make money.
The affiliate marketing business relies on fostering relationships. You foster these relationships by:
*Bringing the right partners into your program
*Seeking out better and more efficient partnerships
*Updating your content regularly to keep things new and fresh.
An affiliate program is only going to help bring traffic to your website or business; you are in charge of turning that traffic into conversions
Then what were the methods used by 0.6% of affiliate marketers (strategy) – to stay in the game ?
According to my careful research and studies, the key success factors used by 0.6 % affiliate marketers to be in the game were:
- Niche Products & services – Carefully researching what people are already purchasing online according to your niche and up selling them to clients or prospects. For example; if you are or were a painter or house builder, your should write a blog post or a video on your website. You should write a blog about’ how to paint a house without spending thousands of dollars hiring a skilled painter’ ; and then promoting your content to your targeted audience via paid campaigns and up selling resources that are needed on your niche to your list or audiences. You will attract thousands viewers in your area of target who don’t want to spend thousands of dollars to professional painters because you giving them the opportunity to do it by themselves. And then you start selling what’s needed by your viewers using your affiliate resources.
- Building a List – Do you want know what it really is? I have talked about it quite a lot of times. Creating a Campaign to promote business, website or a blog using email marketing platform or etc…and then you start building a list of your interested audiences via your marketing campaigns. For more info about how to building a list read here
- Up selling associated products and services via your lists. The best number of lists you can ever have depends on your budget and how good your contents are when promoting them in paid campaigns to build a list.
- You will continue to maintain focus and improve on your niche products to make your audiences and clients giving varieties in improved or latest style version of your services. Most of them are satisfied customers whom will do marketing campaign for you instead of you doing them.
- Monetizing your website with the right affiliate program then it can make a lot of money with little effort (of course you need a content rich website with a handsome amount of targeted traffic). If you have a content rich website then there are hundreds of thousands of affiliate programs and affiliate networks available on the web that can make you a fortune. In fact, the secret to six-figure blogging is affiliate marketing
Advantages of Affiliate Marketing
1. Online merchants get free ad space and will only pay for proven results (pay per sale, pay per click, pay per lead).
2. Affiliates, on the other hand, require only an ad-space to promote the merchants’ products, and thus can enjoy watching the beautiful sunset while earning cash.
3. Advertisers can promote a product to a vast audience, giving their brands more exposure and recognition.
4. Marketers can collaborate with affiliate networks and can pretty much take care of the execution stages, giving the merchant little to no bother during the procedure.
5. Consumers that come from the affiliate’s site can provide important information concerning the latest trends and demands.
Disadvantages of Affiliate Marketing
1. False advertising on the affiliate’s website can destroy a merchant’s reputation. More and more affiliates are engaging in this kind of scheme.
2. Merchants can suffer from commission costs. Set up and maintenance can also mean more cash outflow for the merchant from having too many affiliates.
3. Affiliates risk not getting paid. The twisted merchant may simply leave and close down the program without paying the affiliate.
4. Some affiliates are tricked into a program where they can get high commissions and then get less than what the merchant has actually promised. Some programs require the affiliate to give cash for membership.
5. There are also some unscrupulous individuals who hijack affiliate links, stealing their commission in the process.
With its high payoff potential, affiliate marketing has also become a target for scammers and devious individuals wanting to earn from other people’s hard work. These people simply take advantage of the internet’s mask of anonymity.
Affiliate Programs: What You Need To Know?
Different affiliate programs (in-house and the ones on various affiliate networks) follows different models. An affiliate program model can be: Cost Per Action (CPA), Cost Per Lead (CPL), Cost Per Sale (CPS), or even Cost Per Click (CPC).
•Cost Per Action (CPA) model pays you for specific actions and it can be simple form submissions, downloads, surveys, etc.
•Cost Per Lead (CPL) model pays for leads and it’s usually a “signup” that involves email or credit card verification (because it makes the lead more valuable).
•Cost Per Sale (CPS) model pays for actual sales and it means they share a percentage of sale value with you.
•Cost Per Click (CPC) model as you probably know pays for “clicks” — no matter whether your referral traffic helped them generate a lead/sale or not.
Some Lists of Affiliate Network You Can Join In.
- Amazon Central – Amazon.com needs no introduction. Amazon is an American electronic commerce and cloud computing company with headquarters in Seattle, Washington. It is the largest Internet-based retailer in the United States. It’s affiliate network, called Amazon Associates, allows you to tap into over a million products to advertise to your customers.
- eBay– Many marketers don’t even know that eBay has an affiliate network. eBay has now been online for over 20 years. The eBay Partner Network provides first class tools, tracking, and reporting.
- CJ Affiliate by Conversant-Formerly Commission Junction, CJ Affiliate by Conversant reaches millions of consumers shopping online through their affiliate marketing network.
- Rakuten – Formerly Buy.com, Rakuten.com has grown into a monster. Rakuten ranks among the top three e-commerce companies in the world with over 90,000 products from 38,500 shop owners and more than 18 million customers. Among its numerous online properties, its flagship B2B2C (business-to-business-to-consumer) model e-commerce site Rakuten Ichiba is the largest e-commerce site in Japan and among the world’s largest by sales.
- Clickbank is huge. And it’s been in the game for over 17 years. ClickBank’s focus is digital information products. As one of the largest online retailers, ClickBank has a vast library of over 6 million unique products in order to reach 200 million customers around the world.
- (CPS)Cost-Per-Sale – CPS, also referred to as PPS (Pay Per Sale), is a low-risk, high-profit, revenue-sharing model used by marketers to lure an unlimited number of new customers to their product or service. Cost-Per-Sale pays a set commission to the affiliate marketer who refers a lead that results in a purchase. Marketers love the CPS model since they only pay a commission after they get paid first by the purchasing customer. It’s in essence free marketing and advertising since the affiliate is the one who produces the lead without any up-front cost to them. This is also why CPS payout commission percentages are so high.
- ShareASale has been in business for 15 years, exclusively as an affiliate marketing network. Their technology receives accolades for speed, efficiency, and accuracy and their reputation as a fair and honest business is well known within the industry.
- Commission Factory – The purpose of Commission Factory was to make performance-based marketing available to everyone and not require a steep learning curve in order to get involved and be successful. The platform has been designed to foster a spirit of collaboration between Merchants, Affiliates and Agencies in order to grow mutually beneficial and prosperous relationships. Because they have little to no barriers to entry Commission Factory has an enormously fast growing user base that enables companies of all sizes to discover the power of performance marketing.
- Terraleads – It is the world’s first CPA Hub and a direct advertiser of nutra offers represented in the following categories: beauty, diet, health, and adult. TerraLeads works by a COD model and provides the highest approval rates thanks to the local call-centers with native speakers on-board. TerraLeads distinguishing features are the in-house production and local warehouses in unique geos in Europe and Asia. After becoming TerraLeads partner, one gets 24/7 multilingual support, free translation services, possibility to track leads in real time, use the cutting-edge technologies, and withdraw money daily via multiple e-payment system.
- CPA)Cost-Per-Action – CPA marketing programs pay affiliates when a specific action is taken by the referral or lead. Common actions include clicks, impressions, form submits, sign-ups, registrations, or opt-ins. Since Cost-Per-Action models don’t necessarily involve a direct sale (and involve more risk taking) the payout percentages are far smaller than they are in Cost-Per-Sale.
There are hundreds more not listed here. You will have to google search what’s suitable in your area or country in order to master your earning potential with those of affiliate products and services.
Note: Thanks for reading. I earn little commission from my affiliates too if a product listed on this page is purchased.