Make money while you play Fifa on the PlayStation! Eyebrows raised, dying to exclaim, “Hey, but I am not even a professional gamer then how do I make money from playing!”
Well, you got me all wrong there!
I am not asking you to make money through Playstation. But to earn a recurring & profitable stream of income while doing what you like doing the most.
Affiliate marketing: Let me try explaining it to you with a personal example. I have a Quora following of 15k plus. I mostly answer questions around Video Marketing, lifestyle, and books.
Now, for a company that is looking to market its product on Quora, the best bet will be to connect with Quora influencers who have a great authority on the subject.
Those influencers can then promote the product on their page amongst their audience. If any of their content pieces could help the company get a new paying customer, the influencer will be handsomely paid. This is affiliate marketing.
Companies/Individuals with a product that they want promoted approach influencers/affiliates- who might be bloggers, Vloggers, podcasters, etc.- and ask them to share the product’s growth story and benefits with their audience.
Every time a referral is converted into a closed deal, the affiliate marketer behind the sale is paid. It is based on a simple revenue-sharing model.
I can also say that affiliate marketing has two sides:
If you have a product you want to sell better & faster, you can approach affiliates to promote it through their content and pay them for every deal that closes.
Or, you can be someone who doesn’t have a product of their own and yet earn big money by researching, approaching, and becoming a part of one of these well-paying affiliate programs.
Now that you fully understand what affiliate marketing is, you must be wondering how does an affiliate marketer decide which products they want to promote or market?
Well, the answer is simple. Every time someone approaches with a new product they want you to market, use it personally. See if it is to your liking or not; if your audience will find value in it.
Only when you have fully tested it yourself and have realized that your audience will be definitely benefitted from it, say yes to the brand. And perchance, if the product is related to the kind of content you create, nothing’s better!
Understanding the three important Links of an Affiliate Programme
The three most important links of any affiliate program:
The Vendor: Also known as the merchant or the seller, a vendor is a big organization or an individual who has a product they want to be promoted and sold. This product could be anything. It could range from as simple as a Lipstick by Bobbi Brown to as complicated as a Software by Salesforce.
The Affiliate: Now, most people I talk to consider affiliate marketing as just another source of side income.
But you would be shocked to know that individuals and companies have already been earning millions of dollars in commission simply by partnering with the top affiliate programs.
Look at it this way! I already have an audience who believes in me and likes what I do and give them. So when I take this product to them and make them see its pros & cons, they are open to hear me and find out how this product can add massive value to their business/growth.
As an affiliate marketer, it is very important that you first check the product yourself, and only when satisfied do you go out and promote it. Because if your audience realized that you have been tricking them into buying useless services so that you can earn quick money, they won’t waste a minute in ditching you and moving on to something more reliable.
Always have a long-term vision and never let your reputation ruin for money, no matter how big!
The Consumer: A customer is a connecting link between the merchant and the affiliate. Because if there will be no consumer, there will be no product, no marketing, no growth, and no revenue sharing. That is why customers are compared to god. The affiliate marketers bring the product in the eyes of the consumers, tell them about its worth through different channels such as Blogs, videos, banners, etc. and encourage them to buy it asap.
How to Become an Affiliate Marketer (In 2020)
Here is a step by step process to how to become an affiliate marketer in any niche of your choice:
a) Review Products: Let us say you review fictional novels on your blog. In that case, you can not only review the books the writers approach you with but can also promote products that are closely associated with your niche, books i.e, on your page. Take Amazon’s Kindle for instance. The audience who is interested in reading will definitely be interested in a product that could make their reading experience more enjoyable.
So the trick is to promote not only the products that are directly related to your niche but also the ones that are tangentially related. Blogging is just one of the platforms to reach your audience. You can use Instagram, Twitter, videos and much more to talk about the product.
b) Collect Emails: People will tell you that email marketing is dying. But according to an observation by Hubspot, in the current 2020 climate, “Open rates on marketing emails have continued to rise.” What does it tell you? That as an affiliate marketer, it is very important for you to build a solid email list in order to beat the competition.
Emails are still the best way to interact with your audience, give them your message, and get more people to buy through your reference. Now, here is a tip. if you want to make your emails more personalized & effective, create and share videos instead of plain insipid text.
c) Do webinars: Webinars are an interactive way of engaging with your audience on a live platform. You can go live and can present the product’s multifaceted features, benefits, and the story behind its growth & development. The best thing about a webinar is that it enables you to answer a live audience, show your expertise on the subject, and make big sales numbers.
You can advertise the webinar in advance on social media and ask people to sign up beforehand. At the end of the video or during it you can put a clickable “Buy now” CTA and relax!
Top affiliate Programmes that Pay Handsomely
- Fiverr Affiliate Programme: you can earn up to a $150 CPA for every first-time buyer
- Wix Affiliate Programme: Wix is a website building company with a massive following of 100 million users. By becoming a part of their affiliate program, you can earn $100 per sale.
- StoryXpress Affiliate Programme: StoryXpress is a one-stop video marketing Platform. They help brands create amazing sales or marketing videos using their screen & webcam recorder. You receive a 20% recurring commission on every Closed-Deal.
- BIGCOMMERCE Affiliate Programme: Like its name, its affiliate program is big too. You can earn something along the lines of $60, $160, $250, or $1,500 per paying customer.
- Thinkfic Affiliate Programme: It is an online course program that offers a recurring 20% on every sale.
Affiliate marketing doesn’t require college degrees. It just demands a bit of street smartness and a great knack for social networking.