Entrepreneurs in new era are thriving to generate more revenue to earn passive income ‘working from home’ taking a sip of coffee. So opting a business of recommendations or monetizing blog contents as an affiliate has become trending.
Covid-19 pandemic has changed the altitude of people who
would think that work from home is trivial or it is for them who have no
official job. So in result competition has become tougher. But affiliate
marketing can be better choice to begin.
If you have learning attitude with desire dedication and
determination then affiliate marketing will be boon to go passive income. Once you
learn its twists and turns with expertise hacks then it will become passion to
do it.
But if you are in hurry or you have no time to invest to
reach the article then it’ll remain bullshit forever.
“Yes investment of time is the only secret to learn “Rags To
Riches Ideas” of affiliate marketing that can help even newbie to earn like
pro.
Great...
Let us start with the 5 solid reasons of my failure in first
two attempts. It is guide you avoid such actions and attitude to make your
affiliate journey smooth and successful.
- Over–confidence
- Knowing everything attitude – No learning attitude
- Get rich in a month attitude
- Searching auto pilot mode
- Lack of consistency
“Undoubtedly affiliate program is one of the best technique to monetize blog or website to add extra bucks in your account without dealing with customers to sell services or products”. But learning and understanding how to begin the journey as affiliate marketer is the only key of success.
So
go through the basics here:-
Affiliate – An Introduction:
Affiliate means business and
retail relationship.
In Simple Words – Affiliates are the marketing partners or
publishers of the brand. Bloggers social media influencers, webmasters niches
content sites, mobile apps creators or owners etc may be affiliates
In affiliate marketing affiliate partner plays a significant
role in promotion of product or services of brand through assigned affiliate
link to get clicks of unique visitors or customers to
- Register
- Subscribe
- Purchase product
- Purchase service
- Testing service etc from affiliate network website
Affiliate Marketing – A Clear Cut Concept:
A performance based
advertising model in which company or individual pays the promoters (affiliate)
for visitor or sales generation as a commission.
In Simple Words – Affiliate marketing is a model or
technique to earn money as bonus (commissions) as profit fraction of sales
through the promotion of company’s products and services.
Works Ideally For:-
- Blogger
- Influencers
- YouTube Creators
- Webmasters
- Content Writers/ Guest Bloggers
- App Creators
- Social Media
- E-mail Marketers etc
Working Model of Affiliate Marketing
Step – 1 Selection of Niche: Opt a niche as per your
expertise or interest. Your interest will turn into passion with time and
growth of revenue. It’ll help to build sustainable business.
Step – 2 Joining Affiliate Program: Sign up industry reputed
and leading affiliate program as your niche after research of its history,
background. Terms and conditions. Payment methods and threshold (minimum payout)
should also be checked because it varies from countries or regions.
Step – 3 Promotions of Products & Offers: Select
products and offers wisely as per content or blog niche. Check its conversion
rate, return or cancellation rate and payout.
Step – 4 Tracking and Optimizing Conversion: Schedule weekly
or monthly traffic conversions tracking and optimize mannerly following terms
and conditions.
“Sky is the limit as revenue generation in affiliate marketing. If you have persistence, learning attitude of developing skills and passion to win”.
Pros Of Affiliate Marketing
Affiliate marketing has emerged as engaging tool giant to consumer’s
e-commerce and compelling products in past few years.
More than 84% publishers have turned monetizing their
contents with affiliate links. No boss, no fixed time disciplined routine and
independence of decision making attracts people to start but most of them quit
in lack of proper guidance and knowledge. It is because rat race of grabbing
opportunity without research and analysis to lay the foundation of any startup
its pros and cons must be clear.
- No Cost – Low Cost-Billion Dollar Business:- Affiliate marketing online business is a million dollar industry. It has been growing days and night. One can start it free or with low cost to manage basic tools to promote.
“Earning without risk. Isn’t it an excellent idea?”
- No barrier of Skill or Expertise: “Practice makes man perfect”, The saying works well in affiliate marketing. There is no barrier of prior skill or knowledge. It can be started through content marketing, e-mail marketing, blogging or social media.
- No Trivial Conditions: As affiliate marketing is performance-based business model. So no strings are attached. Affiliate networks never ask for entry fee or bounds to deliver fixed number of sales.
- Time Freedom: Affiliates are not bound to work for fixed period of time. Work as you wish to fulfill your goal.
- Global Reach with International Income: Yes it helps to open up globally to research, promote, learn and earn revenues.
Every coin has two faces. So affiliate marketing also has both pros and cons.
Cons Of Affiliate Marketing
- Not Get –Rich-In-A-Day Business: - Affiliate marketing is not a get-rich-in-a-day business program. It needs consistency time and dedication to generate income.
If you’re in need of urgent income to survive then probably affiliate marketing is not the option.
- Low Success Rate: - It needs time and efforts to become successful. Most of newbie are impressed to see the income in YouTube videos or social media influencers status and decides to start up affiliate marketing. But majority of them either quit or fail.
- Promotion of Best Competitive Products: - Generation of leads or sales are tough as affiliate have to promote the best competitive products in the market.
- Loss of Fan Customers: - In Affiliate marketing business fan customers of affiliates or publisher becomes client of merchant (vendor) by default.
- Traffic Generation: - Traffic is required to get clicks on affiliate links to generate revenue which is not an easy task.
Some Bonus Key Facts You
Should Know: -
- According to Statista in U.S. spending on affiliate marketing is expected $8.2 billion by 2022.
- The Awen report estimated $13 billion investment by advertisers in 2017.
Read More And Grow With Strategy-
Disclaimer- The Link Contains affiliate links that adds extra bucks for content writer. So click only if you want to learn more about the book or have mindset to buy it.
