It is quite normal to wake up early in the morning and go to work for making money, but have you ever heard of people making enormous wealth while they are sleeping?
If your answer is no, then you don’t know anything about “affiliate marketing“!
Affiliate marketing is the process of earning a commission by promoting products of other people (or companies). You find a product you like, promote it, and earn a part of the profit for every sale made.
Digital Marketing Through Affiliate Marketing
In general, you can think of affiliate marketing as “brokerage”, but in new style and with the aid of the Internet. The marketer here becomes a broker, who facilitates the process of buying and selling a service or product.
As the marketer gets a part of the profits, the idea is about a company that sells products or services and then looks for other people to help in this process.
Example: A company promotes its products on Amazon, and in order to sell more of these products, Amazon asks people to advertise them on their sites to increase sales. In return, they take a specific commission for each sale in general.
In the United States, 81% of brands and 84% of marketers take advantage from affiliate marketing, a statistic that is estimated to increase with the increased interest about affiliate marketing every year.
The main parts of a successful affiliate marketing process:
Product + Marketer + Customer = Commission
This simple formula guarantees getting a passive income while sitting on your couch and watching your favorite TV show, or having a nice walk with your family. This can be done with conducting strategic planning between:
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The product:
A product could be a physical object, such as a mobile phone, or a specific service, like a medical advice.
The seller (the owner of the product or service) does not need to participate in this marketing activity directly.
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The affiliate or publisher:
The marketer can be either an individual or a company that is marketing the product in an attractive manner to address potential customers. Persuading customers to buy the product, this affiliate (whether an individual or a company) promotes the product to convince buyers that it is of value and offers some benefits to them. If the consumer ends up purchasing the product, then the affiliate receives a part of the generated revenue.
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The customer:
When the consumer purchases the promoted product or service, the seller and the marketer share the profits of this deal. Sometimes, marketers choose to disclose that they receive a commission for the sales they make.
How to profit from affiliate marketing
Simply, the selling process goes through three stages:
- The buyer visits your website or the platform on which you are marketing the product.
- And then he/she browses the recommendations for the products or services that you offer via specific affiliate links.
- When the buyer clicks or purchases via these links, you will receive an agreed upon commission.
How will this visitor reach the service or product you recommend?
Or the most important question asked… How does the owner of the product or service know that the purchase process for a customer was done via your promotion?
The secret is affiliate links!
After agreeing with the owner of the product or service electronically, you will receive a specific link that contains the details and the username. Then you will use this link with the product that you are promoting on your website or on other platforms, such as social media, it is up to you and you to choose the platform you like.
This link is for consumers and people who want to purchase the product or service through the advertisement you share with them, so when one of your audience clicks on your affiliate link, a cookie is dropped in their browser to track them. When they buy this service or product, congratulations, the company knows that it has received this customer from you and adds the commission to your account.
So far so good?
I think that there is a very important question that you need an answer for, right?
Let me guess what it is!
I feel that you need to know more about the details of obtaining a commission, or in other words the types of payment, i.e. Will you get paid after each purchase process made only? In fact, there are four types for which you will receive a commission, these types are:
Types of profit from affiliate marketing
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Pay per click:
This type focuses on bloggers who have high-traffic websites. It takes visitors to click on the links that take them to the page of the brand,
and every time this happens, the blogger receives some money for each click. In this case, no sale or purchase has taken place. Rather, the owner of the product pays money for the visits, hoping it will lead to new customers. When the owner discovers that the blogger clicks on the link himself or through automated technologies that do not generate any new customers, no money should be paid.
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Pay per impression:
With this type, companies (the owners of the product or service) pay for clicks on their website ads.
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Pay per action:
There are several methods that you can benefit from with this type, but the most famous of them remains to obtain a portion of the profits as a result of purchasing a product or registering to benefit from a service, such as: an appointment for getting a specific advice.
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Pay per lead:
The marketer gets a commission for being able to send companies new leads. This type of payment is considered the most expensive as companies are always striving to reach more potential customers every day. Firms that use this model include: law firms, doctors, accounting solutions, and advisory agencies in general.
This model doesn’t work with all types of websites, but it can be incredibly lucrative when mixed with the proper content and target audience.
Affiliate marketing is very competitive, but if mastered properly, it will be a great source of income. The beauty of this type of marketing is that you get money without needing a capital to start with.
Finally, be passionate! Only by perseverance you will be able to achieve the best results. Be prepared to deal with problems, to face days without income and the ever-changing challenges that Google might throw. In case you face any problem, contact Shibly Marketing, which will provide you with the marketing solutions your business needs.
Read More:
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Digital marketing. The strategy of today and tomorrow. What is it?
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The key to make search engines love your website! (SEO)
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Content marketing and the power of the word!
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Emails… The well-proven marketing trend!
*Resources:
- tipalti.com
- neilpatel.com
- The essential guide to marketing in a digital world, by Rob Stokes Book.