Affiliate marketing is a type of marketing effort wherein the affiliate customers get paid for his efforts on marketing other firm or company products. There could be any number of affiliates involved in this performance-based marketing. To understand more specifically there are 4 important players in marketing scenario.
- Advertiser: It could any firm or business like insurance company, or a company selling products like electronics, clothes etc. The only condition is that the advertiser must be willing to pay to sell and promote business.
- Network: A good network always promotes a business and takes to reaches where other forms of brand advertising are not feasible.
- Publisher: They promote the business through banner ads, text ads etc.
- Consumer: The final end to this transaction that sees the ads views the banners and then purchases the products completing the chain, commonly referred to as a conversion.
The steps outlined further will guide on how to start out.
- Research affiliates programs. Which are scams and which are legit. Do searches such as “Is CJ a scam?” “Show me wealthy affiliate success stories?”
- Join an affiliate program.
- Promote an affiliate program through website.
- Make your website content relevant. This is important as you want to be ‘niche specific’
- Drive targeted traffic through your website.
The 2 rules, which are very important for affiliate program, are
- Only recommend products as an affiliate that you are extremely very familiar with.
- Always recommend products based on your experience and in the context of your understanding.
But if the program is good still there are myths attached to it. They are
- It is very difficult to get involved with affiliate marketing because virtually everyone gets involved with it but only few get the work done.
- Affiliate website do not require much time management and one can get away with posting any kind of banner ad or text content.
- What maybe true for others it will cause failure for you. In affiliate marketing understanding the niche is very essential to being successful.
- Working with just one affiliate marketing program would not give you the desired the output because the customer would often compare different program on same context.
- Customer would not go beyond the specified hurdle and only limit itself to one program. For example customer purchasing from Amazon or eBay would definitely need to visit the website.
- This type of selling will not last longer is most popular myth just because Google is changing its algorithms and content-based ads. The web space is universes where things exist and last.
- Affiliate marketing needs to better understood beyond the realms of management. Rather it should in right customers, seek out better partnerships and updating the content regularly.
The following points should be kept in mind to avoid any issues
- The product should sell and get genuine reviews instead or just helping others to address their needs.
- The affiliate programs should be chose carefully and there is not point in cultivating multiple streams.
- Keeping a track of our customer data points like demographic, race, sex, gender etc. will help build the marketing more genuine and efficient.
- Comparing the products before buying is the roots of affiliate marketing.
Affiliate marketing is a business that requires self-motivation and focus. For majority of us, these are learned skills. Once you are aware of the mistakes that can cause a lack of profits and productivity, you will be better able to grow your business and be profitable long-term.