Affiliate Marketing pertains to promoting an Advertiser’s Online business. In this case, an individual or company who is not related to the Advertiser, is paid commissions for every subscriber, visitor, customer, sale generated or leads through him or her.
Amazon.com was one of the first to prominently showcase these Affiliate Marketing strategies. Today, there are millions of affiliates who send billions of visitors to thousands of companies and get paid handsomely for it.
Benefits of Affiliate Marketing are:
- No need to develop any product
- No manufacturing or storing of inventories
- Get paid on a percentage basis on sales with no handling of payments or shipments
- No interacting with the customers or dealing with enquiries etc
- Free to join
- Flexible timings and with low budget costs
- Potential for massive earnings on an ongoing basis
Now, there are lots of confusions about the success of Affiliate Marketing, whether genuine or scam etc. Suffice to say, the tremendous success rate of this program speaks for itself! Of course, like any other business, when you start as a newbie, it is very essential to know the basics and be prepared to make the effort to get going.
Generally, once you join a program with a minimal fee, it is your own persistence and willingness to learn that determines your success. You may find the going slow initially, but once you get the hang of it and be patient, you will soon start seeing good results.
Browsing the review sites. Affiliate forums, buying eBooks that offer step by step instructions on how to become successful at Affiliate Marketing, learning about the success stories and thereby gaining more knowledge and some useful tips too, can all pave the way for better performance.
Tips on Effective Affiliate Marketing Includes:
- Target a niche market – identifying the niche markets, one which suits you and your level of expertise, is always a very important factor for becoming successful. In other words, the niche or topic you choose to promote should be unique and could contain information that is very individual and yours alone.
- Claim niche partners – finding niche partners who have viewers who are interested in your niche market with good traffic and who can benefit from your orders.
- Developing a compelling and convincing promotional page – your promotional materials should be compelling enough to attract all those affiliate partners.
- Constantly looking for new niche partners can greatly help in earning more commissions
- Maintain goodwill with your niche partners and ensure you have a good rapport with them by sending updates, regular communications and some marketing tips about your product and last, but not the least, pay them on time.
Pay-Per-Sale, Pay-Per-Lead, Pay-Per Click are some of the Affiliate Marketing programs that are available, and are explained below:
- Pay-Per-Sale refers to receiving commissions for every sale generated by you, when you promote a product through article writing or blogs, emails lists, through advertisements etc.
- Pay-Per-Lead refers to the filling up of application forms by visitors that the affiliate refers, though purchasing the product is not mandatory.
- Pay-Per-Click refers to the Affiliates earning a commission from the merchants whenever somebody clicks on his website that promotes the product. The good news is you get paid even if the visitor does not buy the product. Generally, you get paid $1 per click, but considering the ocean that is called the internet with its millions of traffic from world over, this can accumulate to huge amounts daily. This means if there are around 50 clicks per day, you get paid $50, which is very cool!
There are also Residual Affiliate Marketing Programs, one tier, two tiers programs where you form a pyramid type of members and earn commissions through them. Browsing online can greatly help in viewing the various options and choosing the best Affiliate Marketing type for you.