How To Profit From Affiliate Marketing
You may have heard that digital marketing is the best way to make money online. But what if you don’t have a product to sell? Or you can’t afford to buy licensed products? The answer – promote someone else’s products for a commission!
That Sounds A Bit Complicated!
Now, if you’re not technically minded or don’t know anything about selling online, don’t panic – affiliate marketing is a relatively simple process. Basically you look for a product in a niche that interests you, you promote it and when it sells the vendor pays you a commission. The rates can be quite generous, up to 75% in some cases. You don’t have to do any selling, all you have to do is send a prospective customer to the vendor’s website and the vendor will do the hard part (the selling in other words). Think about your hobbies and interests and look for products that appeal to you.
Where Do I Find Products To Promote?
If you go to any website with goods for sale and scroll down to the bottom of the page it’s likely that you will see the words ‘affiliate program’. If you click on this, it will tell you how their affiliate program works, commission paid, incentives and best practice for promotions. They should also provide various materials to help you with your promotion, including banners, links and so on. If these are not provided, go and look elsewhere.
What Is ClickBank?
https://www.clickbank.com is an online marketplace with literally thousands of products up for sale. These are mainly digital products such as ebooks, courses and manuals which are instantly downloadable once payment has been made. This kind of product is very popular as it appeals to those who want instant gratification; buyers are very impatient these days and don’t want to wait a week for something to arrive in the mail. They want it now!
This also means that impulse buys are more common. The prices are set so that most buyers don’t have to think too hard about whether or not to purchase something that’s caught their interest, they just get out their credit card and minutes later, they can access their ebook (or whatever it is that they have just purchased). This is good news for you as an affiliate because these items could sell in high volumes, meaning more commission for you.
Say, for example, if a vendor is selling a course on how to build muscle faster without joining the gym. This course is selling on ClickBank for $75. If the commission percentage is set at 75%, then each time someone makes a purchase you will earn $56.25. That might not sound very exciting, but imagine if you were able to send lots of prospects to the vendor’s website and they made 25 sales in a week. Your earnings would be $1,406.25. That’s more like it, right? Okay, obviously that’s with the commission at the higher end of the scale. Not all vendors offer such high rates.
But even if they were only paying 30% commission, if the same 25 sales were made, using the $75 course on muscle building again, your earnings would be $562.50 a week, or $2,250 in a month. Can you see how lucrative this could be? Remember, you don’t have to sell anything, deal with customers, make phone calls or do any of the hard work. The vendor will do that for you. Are you feeling excited yet?
How Do I Promote Products?
A blog is a popular way to tell people about the products you are promoting. You can write a short blog article on the benefits of the item, maybe adding some images in with the text and giving it a star rating. The vendor will have provided you with a unique link (these are known as hoplinks on ClickBank) and so they will know that the prospect has come from you. If a sale is made then you will be paid your commission and the vendor also gets a percentage. Win win!
Social media is an obvious platform for promotion in this day and age. You can share a link with your friends or followers and get some sales that way. Alternatively, you can set up a simple ad on something like Facebook and set a daily budget. This puts you in full control of your advertising budget, ensuring the costs won’t spiral out of control and land you with an enormous bill. You want to make money, not see it disappearing into thin air!
I hope you enjoyed this article and found it useful. Feel free to share it with your friends. Next time we will discuss dropshipping.