Are you looking for passive income i.e earning when you are sleeping?
Then you are at the right place, I will be sharing about affiliate marketing which will help you earn passive income, and also about top affiliate marketing programs which will help you earn money.
Many people are searching about what it means by affiliate marketing, Now I will explain in simple words so that you can start the journey with affiliate marketing.
Affiliate Marketing is a process of earning money by promoting company products or services and drive a sale for that company. So, with the help of affiliates, you will get a commission on products and services whenever you drive a sale.
How did affiliate marketing work?
Affiliate marketing works by giving the responsibilities of promoting the products or services across various parties, it manages to leverage the abilities of individual marketing strategy while providing the contributors with a share of profit. To have effective affiliate marketing three parties are involved.
- Seller or Product Creators.
- Affiliate Marketer or Advertiser.
- The Consumer.
Let’s learn about these three parties and how it works in affiliate marketing.
1. Seller or Product Creator:
The seller is the one who is the entrepreneur which can design a product and launch the product in the market. The product can be anything that is needed in the market like the household product, physical product, or a service like mentoring the people.
The seller is not actively involved in marketing but they can be advertisers and profit from the revenue sharing associated with affiliate marketing.
For example, the seller of the eCommerce company started dropshipping services and wants to reach the audience by doing affiliate marketing for its services.
2. Affiliate marketer:
An affiliate marketer can be an individual or company that markets a product that is appealing to potential consumers. The affiliate promotes the product to persuade consumers that is valuable and beneficial to them and convince them to purchase the product. If an affiliate converts the consumer, the affiliate will get the commission for the consumer’s product.
Affiliates often market to a specific audience adhering to the audience’s interest. This creates a defined niche and personal brand that helps the affiliate attract consumers who will most likely add for promotion.
3. The Consumer:
The consumer is the driver of affiliate marketing. Affiliate shares the products with them on social media, blogs, and websites.
When consumers buy the products, the seller and the affiliate share a profit. Sometimes affiliate is upfront that there are sharing a profit with the sales they make. And sometimes the consumer is not knowing about the affiliate market structure during the purchase.
In another way, there will rarely pay more for the product purchased through affiliate marketing, the profit of the affiliate is included in the retail price. The consumer will purchase the process and receive the product as normal unaffected by the marketing structure in which there is a significant part. Learn more about Affiliate marketing for beginners.
How does Affiliate marketing get paid?
Affiliate Marketer gets paid by selling the product online by social media, blog, etc without actually Selling the product.
The consumer doesn’t always need to buy the product from the affiliate for their profit. The consumer can buy without the affiliate marketer and depending on the product the affiliate share is measured differently.
The affiliate gets paid in 3 ways:
1. Pay Per Sale:
This is a standard affiliate marketing structure. The product creator pays the affiliate a percentage of the sale in this program after the consumer purchases the product by the affiliate marketing structure. In other words, the affiliate should get the investor for the product before they are compensated.
2. Pay Per Lead:
A complex structure, pay per lead affiliate program is paid based on the conversion of leads. This consumer should persuade through an affiliate link and complete the desired action whether it may sign up form, subscription, or trying a product for a trial.
3. Pay per click:
In this program, affiliates redirect the consumer from their marketing platform to the merchant’s website. This requires an affiliate to engage the consumer so that they redirect to the merchant website. This affiliate is paid to get the website traffic.
Top 5 affiliate programs to start with affiliate marketing:
- ShareASale :
ShareASale is the largest affiliate network and also beginners Friendly affiliate network. The ShareASale has access to around 16,550+ merchants, 225000 publishers, and 182 million sales are generated in 2020.
Benefits of ShareASale affiliate program:
ShareASale is in Business for around 18 years and gives you access to thousands of merchants who offer you hundreds and thousands of products and services you can use this money as an affiliate.
The great thing about the ShareASale is that it give the required information of the affiliate product
- Earning per click
- Reversal rates
- Average sale amount
- Average commission
2. Commission Junction:
Compared to other popular affiliate marketing networks, Commission Junction does two things better than others it offers a wide range of products and services and the other is that it gives access to tools for dashboards, charts, graphs, and so on to increase sales.
The Biggest Benefit of joining the Commission Junction affiliate marketing network is that every biggest website is tied up with them. From fitness to the real estate industry, every small and authority industry is related to CJ.
So as an affiliate marketer you can promote every product in your industry for free.
Get started and promote the CJ products is easier. Once you are approved to promote an affiliate offer, you can literally promote lots of affiliate products promoting on your site and social media platform.
3. Rakuten Affiliate Network:
Rakuten Affiliate network is one of the oldest affiliate market networks which is founded out way back in 1996 which claims out to be the largest performing affiliate network on the internet right now.
It is very easy to promote the products using the Rakuten affiliate network using the following key metric for the month, top advertisers, trailing 30-day commission trends, and payment information of the products you promote.
4. Amazon Associates:
Amazon Associates is the no 1 online platform that gives you access to products from more than 2 million sellers. Amazon Associates is one of the online affiliate marketing launched in 1996.
When you are an amazon associates affiliate, you can promote a range of products ranging from toys to electronic products. You can promote a range of products from every industry.
5. eBay Affiliates:
eBay has an in-house affiliate program called eBay affiliate program which you can use to monetize your websites, social media pages, mobile apps, and so on to promote products from the eBay network.
eBay is one of the biggest online platforms that have access to 175 million buyers purchasing $23.6 billion gross merchandise annually.
eBay partner network has a wide global reach which is currently operating in 13 countries worldwide. They have over 1.1 billion listings that include 80% new items, 89% fixed-priced items, and 70% offer free shipping.
This is all about affiliate marketing, I hope so this blog was useful. So, Let’s start investing in affiliate marketing and earn passive income. Affiliate marketing is a very important aspect of digital marketing that help you earn money by promoting product or services and understand the blueprint of digital marketing in detail.