The online world has steamrolled its way into today’s market. With the massive upsurge of social media, a lot of marketers have started taking up online businesses, which not only prove to be less haywire than the usual day-to-day job but are also more rewarding and easier to start with.
There are umpteen ways to earn and make a living online, but one such method which is very popular and successful is affiliate marketing.
If you’re a blogger and struggling with the income, then you should associate yourself with an affiliate network. Affiliate marketing is a diverse field and many strategies can work for you.
You just have to recognize where you’d want to step in. In this type of marketing, you become an ally with businesses, eCommerce websites and you promote their products, goods, or services on your blog and other social media platforms to attract readers and visitors.
You get a little commission each time a buyer purchases on the eCommerce website through your affiliate link.
Now, if you have a desire to become an affiliate marketer, there are certain aspects that you need to know before starting your venture. Let’s discuss these important elements of affiliate marketing and how they impact your journey.
What is Affiliate Marketing?
Let’s start with the basics. Affiliate marketing is simply a form of marketing or arrangement between an affiliate and the company, by which the affiliate earns commission by collaborating with their brand and selling their products.
Therefore, it is based on revenue sharing, which means that each time a customer makes a successful purchase through your affiliate link, you will get some commission.
For example, you’re totally in love with the Eco Bottles that your kids use. You don’t want to keep the wondrous product for yourself, but also want to tell your friends and acquaintances about it.
So, you visit the website from which you bought the eco bottles, and you observe that they also have an affiliate program. You want to join it, so you apply for the program, and let’s say your application is approved. You will get a unique referral URL (e.g. moonshotjr.com/myuniquecode).
You post a blog listing down the benefits of Eco Bottles and therefore, promoting it. People who read your blog and other posts on your social media platforms, end up liking the product and buying it through your link. Now, you will receive a percentage of collection from each transaction. This is basically what affiliate marketing is.
What is an Affiliate Link and How do They Work?
An affiliate link is a unique link that contains specific identifies/trackers such as your username, a set of digits and letters, or any other means of identification.
Every affiliate marketer gets a unique link for the same product. The customer makes a purchase through your affiliate link and you get the commission.
Now, how do these links work? Let’s break it down in 5 simple steps.
Selecting the Right Affiliate Programs
The affiliate network is vast, and you need to be clear about the kind of products you want to promote on your platforms and what’s their value and popularity ratio in the market. Selecting the right affiliate network and the product is essential to your success in this particular field.
Choosing a wrong affiliate program may turn out to be very unsuccessful for your venture. There are certain points that you need to check before you enroll in any affiliate program.
Apart from that, you also need to take care of the kind of products that you want to promote as an affiliate. Make sure you choose products with a proven record and always check the sales page of the product.
Do not simply choose your product based on the price alone, and at the same time, always look for high commission products to make good revenue.
Disclose Your Links and Relationship Properly
If you are well indulged in affiliate marketing and you sponsor posts for various brands and companies, then you need to disclose your relationship with the merchants to your audience.
What this means is that you need to have a disclosure statement in every post and page where you are carrying out a promotional activity associating any brand or product.
What the law suggests is that the statement needs to be “clear and conspicuous”, so you cannot really hide somewhere in the middle of the post. It is best that you include the statement at the top of every post or page that you promote.
Another important factor is to add a sponsor tag to your affiliate links. According to Google, all affiliate or paid links should be added to the sponsored tag in order to prevent search engine penalties.
Pros and Cons of Affiliate Marketing
As we all know, everything comes with advantages and disadvantages, and affiliate marketing is no different.
Pros of Affiliate Marketing
Cons of Affiliate Marketing
Affiliate marketing is a key strategy in today’s business world and it shares the profits with the affiliates quickly. However, understanding it and using it in the right way is of prime importance for affiliate marketers. The best practices and tips explained above will help them become a successful affiliate marketer.