Can You Still Make Money With Affiliate Marketing In 2019?
The simple answer to this question is YES. Within reason, you can Make Money With Affiliate Marketing where ever you are in the World and you can definitely Make Money With Affiliate Marketing in 2019.
Affiliate Marketing is one of the best ways to make money online and it often the area that many people start when they begin their online income generating journey. Affiliate marketing is a quick and inexpensive method of making money without the hassle of having to hold stock, actually selling a product, or filling an order.
This article will discuss the basics of affiliate marketing and show you how you can get started and begin earning passive income online.
What Is Affiliate Marketing?
Most people who are interested in making money online and generating passive income, have come across the term affiliate marketing. If you are new to making money online, you may not have a complete grasp of exactly what this term means.
In its simplest form, affiliate marketing is the process where an affiliate (YOU) earns a commission for marketing another person’s or company’s products. That’s it, pretty simple hey.
The affiliate marketing we are detailing here relates to online affiliate marketing.
As you can see, the concept of affiliate marketing is very simple, you are paid for a referral from your site or ad. The image below illustrates this process.
Why Wouldn’t A Company Just Advertise And Sell Directly Themselves?
That’s a good question and one many people ask. If the product is so good, why not just save the commission and sell their own product directly to the public, without having to use a middle person in the process.
There are a few reasons why it is more effective for a company to use affiliates to help sell their products and services.
- Performance based – Affiliates provide marketing for the product and are rewarded based on an agreed response.
- Cost effective – Affiliates essentially provide free marketing to the company; even if they don’t make a sale, they are still providing advertising for the companies products.
- The marketing is spread across different platforms, using different channels and skill sets, providing a wider audience for the company than it could achieve itself.
There are 3 entities involved in the process of affiliate marketing.
- The seller
- The affiliate
- The customer
There can also be other entities involved in the process, such as affiliate networks and payment processors, but they are secondary to the actual process.
I’ll flesh our the details to clarify the relationship between each of these entities.
1. Seller, Company, Product Creator
The seller, whether an individual or large enterprise, is a vendor, merchant, retailer, or product creator with a product to market. The product can be a physical object, or a service, like tutorials.
2. The Affiliate Or Publisher
Also known as a publisher, the affiliate can be either an individual or a company that markets the seller’s product in an appealing way to potential consumers. In other words, the affiliate promotes the product to persuade consumers that it is valuable or beneficial to them and convince them to purchase the product. If the consumer does end up buying the product, the affiliate receives a portion of the revenue made.
Affiliates often have a very specific audience to whom they market, generally adhering to that audience’s interests. This creates a defined niche or personal brand that helps the affiliate attract consumers who will be most likely to act on the promotion.
3. The Customer
The customer is the reason for affiliate marketing, they are what drives the affiliate to market products, through the various methods used to generate income.
When customers buy the product, the seller and the affiliate share the profits. In the past, the affiliate could choose to be upfront with the consumer by disclosing that they are receiving commission for the sales they make. But often, the customer was completely oblivious to the affiliate marketing infrastructure behind their purchase.
This has now changed, with many countries making it compulsory to disclose affiliate links.
The customer rarely pays more for the product purchased through affiliate marketing; the affiliate’s share of the profit is included in the retail price. The customer will complete the purchase process and receive the product as normal, unaffected by the affiliate marketing system in which they are a significant part.
How Do Affiliate Marketers Get Paid?
There are a few different results in which affiliates are paid, not all of them require a sale for the affiliate to receive a commission.
1. Pay per sale
This is the most basic affiliate structure; the seller pays the affiliate a percentage of the sale price of each sale, after the customer purchases the product as a result of the affiliate’s marketing strategies. In other words, the affiliate must actually get the customer to buy the product before they are paid.
2. Pay per lead
Another affiliate system is the pay per lead structure. This is often used by companies, who intend to develop a relationship with a customer over a longer period of time and often involves larger sums of money, as an example, a Dentist or Lawyer may use the pay per lead method.
Typically, the customer clicks on the affiliate link and visits a company’s website and completes a desired action, which could be filling out a contact form, signing up for a trial of a product, subscribing to a newsletter, or downloading software or files.
3. Pay per click
This program focuses on incentivizing the affiliate to redirect consumers from their marketing platform to the merchant’s website. This means the affiliate must engage the consumer to the extent that they will move from the affiliate’s site to the merchant’s site. The affiliate is paid based on the increase in web traffic.
Benefits Of Affiliate Marketing In 2019?
Affiliate marketing is an effective method of earning money and allows you to do so, without having to deal with the additional logistics of other online business models. Listed below are some of the benefits.
1. Earn passive income
This is one of the prized dream lifestyle benefits you would see advertised on numerous make money online blogs, the ability to earn money without any effort.
While there is effort required to set up and maintain your affiliate marketing efforts, the ability to earn passive income is genuine. With affiliate marketing, you really can make money while your sleep
Unlike a regular job, where you get paid for the time you work, with affiliate marketing, once you have completed your initial work on your affiliate campaign, you can continue earning money, sometimes indefinitely, without any additional effort on your part.
These earnings continue, without you having to do anything else, that is the beauty of passive income and the goal for many in affiliate marketing.
2. No customer support
If you are just beginning your making money online journey, you may have considered selling products or services yourself. While that can be a profitable avenue, it also comes with the requirement of having to deal with customers, customer support, product returns, shipping, payment processing and ordering products. This can be daunting to many people.
With affiliate marketing, you don’t have to deal with any of this. All you have to do, is send a customer to a seller. The seller deals with any customer complaints and all the other processing issues. All you do, is sit back and take the money.
3. Work from home
Working from home is a huge attraction for many people; no longer having to get up early and travel to work each day allows them to work when it suits them, from where it suits them.
Obviously most people start slowly, while continuing to work their regular job. This is also easy to do, spending time of an evening and weekend establishing your affiliate website or campaign, until you get to the point where you can give up your day job.
4. Low set up cost
It is also very cheap and easy to get started earning with affiliate marketing. You don’t even need a Website, although I recommend having one, as you will learn many additional skills that will be beneficial for your online income generation.
Unlike a regular business, which requires startup fees as well as a cash flow to finance the products being sold, affiliate marketing can be done at a low cost, meaning you can get started quickly and easily. There are no affiliate program fees to worry about and no need to create a product.
5. Highly flexible
As with working from home, affiliate marketing allows you to have flexibility in your life. You can go on holidays, without having to worry about shipping customer orders, or losing money by shutting your store. You can continue to earn the same amount of money while cruising the ocean, or sitting on a beach.
You can set your own hours and your effort, to suit your lifestyle.
Types of Affiliate Marketing Channels
There are several ways to do affiliate marketing, with each having their benefits, depending on your interest and skills.
Blogging is a tried and proven method for affiliate marketing. Typically this method involves the blogger writing a post about the product, or service. The post can be a general information post, or a comprehensive review, that promotes the product and provides an affiliate link to the product page.
This technique leverages SEO to rank high in search engines, meaning minimal financial outlay on the part of the blogger.
2. Social Media Influencing
This is quite a popular method and has shown success, if implemented correctly. A Social Media Influencer is typically a person who has a large, engaged social media following (the Kardashians are an extreme example of this). This person is in a great position to benefit from affiliate marketing. They already boast an impressive following, so it’s easy for them to direct consumers to the seller’s products through social media posts, blogs, and other interactions with their followers. The influencers then receive a share of the profits they helped to create.
3. Email marketing
This is an old method, but is still effective, if you have a proven list. We are not talking about spam email marketing here.
Some affiliates have email lists they can use to promote the seller’s products. Others may leverage email newsletters that include hyperlinks to products, earning a commission after the consumer purchases the product. Another method is for the affiliate to build an email list over time. They use their various campaigns to collect emails en masse, then send out emails regarding the products they are promoting.
5. Youtube videos
This method continues to gain popularity and is another proven method for generating affiliate marketing. Youtube videos, when used in conjunction with blogging greatly increases your potential reach in search engines.
Affiliate Marketing Strategies For 2019?
1. Only recommend products you are extremely familiar with
The ultimate goal with your affiliate marketing should be to create a sound, long term business. As with any business, generating trust with your customer, in this case, your audience is to only recommend products that you are familiar with and either use yourself, or are confident that they provide value and are a good fit for your audience.
The more trust and authority you develop, the more people will continue to visit your site for updates/other recommendations.
2. Promote products from many different vendors
Don’t build your affiliate marketing on one product or company alone, you need to promote a range of products, from a range of companies that are relevant to your target market; promoting related products from other companies is a great way to do this.
This affiliate marketing strategy allows you to diversify your recommendations and the amount of commissions you make and create a steady stream of revenue when building an affiliate website.
3. Focus on where your affiliate traffic sources
It’s important to know where your traffic is coming from and the demographics of your audience. This will allow you to customise your messaging so that you can provide the best affiliate product recommendations. You shouldn’t just focus on the vertical you’re in, but on the traffic sources and audience that’s visiting your site.
For example, say your are blogging in the make money online vertical and promoting website hosting services as one of your affiliate marketing campaigns. You may find that much of your traffic has come from associated sources looking for hosting for food blogs. If you see this, you can start to create affiliate marketing content, specifically related to food bloggers hosting.
You can use Google Analytics to view your traffic source data for things such as time on page, bounce rate, geo location, age, gender, time of day, devices (mobile vs. desktop), and more so that you can focus your effort on the highest converting traffic. This analytics data is crucial to making informed decisions, increasing your conversion rates, and making more affiliate sales.
Where To From Here?
This post has given a brief introduction to affiliate marketing and how this is something that you can do right now. In future posts, I’ll delve more into the nuts and bolts of affiliate marketing, showing you how to do get started, with real examples that you can follow.
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