FUNDAMENTALS OF AFFILIATE MARKETING (HOW TO BECOME A GOOD AFFILIATE MARKETER)

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Affiliate marketing is a type of performance-based online marketing strategy where a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts. Affiliate programs work by allowing individuals (affiliates) to promote and sell products or services of a company in exchange for a commission on each sale. The affiliate earns a commission each time someone makes a purchase through the unique affiliate link associated with their recommendation. Commission rates for affiliate sales vary depending on the company and the offer. On the low end, you’ll earn about 5% of the sale, but with some arrangements, you can earn as much as 50%, usually when promoting a class or event. Some affiliate marketing programs provide a flat rate per sale instead of a percentage. There are three (3) types of affiliate marketing namely:i. Unattached Affiliate Marketing: The first type of affiliate marketing is referred to as “unattached,” or when you have no authority in the niche of the product you’re advertising, i.e., There’s no connection between you and the customer. This often involves running pay-per-click (PPC) advertising campaigns with the affiliate link and hoping people will click it, buy the product, and earn a commission. Unattached affiliate marketing is attractive because you don’t need to do any legwork. Affiliate marketing businesses rely on reputation and trust with a target audience online. Some affiliate marketers don’t have the time or desire to build those relationships, so this type of marketing is their best option. ii. Related Affiliate Marketing: Related affiliate marketing is the practice of promoting products and services you don’t use but that are related to your niche. An affiliate marketer in this case has an audience, whether it’s through blogging, YouTube, TikTok, or another channel. A related affiliate marketer also has influence, which makes them a trusted source for recommending products, even if they’ve never used them before. While related affiliate marketing can generate more affiliate income, it comes with the risk of promoting something you’ve never tried before. It could be the worst product or service ever, and you wouldn’t even know. iii. Involved Affiliate Marketing: This Involved affiliate marketing refers to only recommending products and services the affiliate marketer has used and truly believes in. “Involved affiliate marketing is the way forward,” says Elise. “It’s rooted in trust and authenticity, which is best for your audience and business. ThePros of Affiliate Marketing are as follows: Easy to execute – Your side of the equation involves simply handling the digital marketing side of building and selling a product. You don’t have to worry about the harder tasks, like developing, supporting, or fulfilling the offer. Low risk: Since there’s no cost to join affiliate programs, you can start making money with an established affiliate product or service without any upfront investment. Easy to scale: Successful affiliate marketing offers the potential to significantly scale your earnings without hiring extra help. You can introduce new products to your current audience and build campaigns for additional products while your existing work continues to generate affiliate revenue in the background. The Cons of affiliate marketing are as follows: Requires patience: Affiliate marketing is not a get-rich-quick scheme. It requires time and patience to grow an audience and gain influence. Commission-based: There’s no boss handing you a weekly paycheck as an affiliate marketer. Affiliate programs work on a commission basis, whether you’re paid by lead, click, or sale. No control over program: Affiliates must obey the rules of the company for their program. You need to follow their guidelines for what you say and how you present their product or service to the public.

ASIN ‏ : ‎ B0CCF32P7F
Publication date ‏ : ‎ July 19, 2023
Language ‏ : ‎ English
File size ‏ : ‎ 2313 KB
Text-to-Speech ‏ : ‎ Enabled
Screen Reader ‏ : ‎ Supported
Enhanced typesetting ‏ : ‎ Enabled
X-Ray ‏ : ‎ Not Enabled
Word Wise ‏ : ‎ Enabled
Sticky notes ‏ : ‎ On Kindle Scribe
Print length ‏ : ‎ 28 pages

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