The Art of Affiliate Marketing
One of the most successful generators of income on the internet is affiliate marketing. So, lets look at how to use affiliate marketing to create passive income for your business.
While it’s been around for some time, to this date, not many people understand its true potential.
What’s often viewed as a get-rich-quick-scheme is actually a sophisticated business model which can be used to create ample amounts of passive income online.
The Breakdown of Affiliate Marketing; What Kind of Affiliate Marketer Should You Be?
So, to get started, let’s break down the gist of affiliate marketing. There are three parties in this exchange; you, the company and its product, and your audience of customers.
- You are in charge of your website and the advertising campaign for the product. You have to make it captivating enough for customers to choose your website over competitors.
- The company provides you with the product to sell. They may also lay out their own guidelines you have to follow when advertising their product.
- The customers are your audience whose engagement you’re trying to achieve. The best way to do this is through building trust.
Out of the many options available, the best method for affiliate marketing is involved affiliate marketing. This means you promote products which are related to your business niche and products that you have tested yourself.
An example would be promoting fitness apps, dieting plans and supplement products on a health and wellness website.
Other methods are not so successful since they don’t involve as much transparency with the products you’re promoting. This goes to say that if you haven’t tried your advertised product yourself, potential customers can and will doubt your intentions.
Likewise, if you promote something which isn’t related to your business niche, customers who read your blog may not be interested at all.
Here’s an example about a plant-based nutrition website, and how related culinary nutrition courses and books are promoted to help readers discover products that can be useful to them.
What Does the ‘Passive Income’ Payout Look Like?
There are five common methods of payment as an affiliate marketer. A key concept to remember is you’re paid through commission, not a fixed rate.
1 – The first payment method is payment per sale. Every time the company makes a sale through your affiliate link, you’ll get a percentage of that sale.
2 – The second method is payment through action. This is simpler as all you need is to ensure customers complete certain actions, such as subscribing to a newsletter or completing a contact form. This is also called: CPA marketing for Cost Per Action.
3 – The third method is for applications and software services; payment through installs. Every time a customer installs a service through your affiliate link, you will receive a portion of the profits.
4 – Payment for every lead is a commonly noted method since it requires a customer to sign up for a company’s product. This is an easier method of payment since it ensures customer engagement and doesn’t require them to buy anything.
5 – The final payment is payment for every click. Payment per click means your affiliate link brought a customer to the company’s website, and that’s enough for you to receive your commission, no purchase required.
How to Start Affiliate Marketing for Your Business
Now if you think you’re ready to start your affiliate marketing business, then I have one more topic to discuss with you about starting up your affiliate venture.
The first step is to choose your medium and method of communication. Most people would prefer a business website as it grants flexibility. You can incorporate articles, reviews, blogs, and videos into one website which customers can navigate to find all of your affiliate links.
Next, try to establish your business niche. What overlapping topic of interest are you trying to cover, and who are you trying to advertise to?
For instance, if you want to start a website related to health and wellness, then you’re going to attract people who want to learn how to take better care of themselves and their general wellbeing.
From there, look through interesting products which relate to discussions you cover on your website, and find some products you could sell to your audience.
You can now start looking for companies that sell products related to your business niche. They can become your contractors and affiliate links that will generate income on your business website.
Discover a Training on How to Become a Top Clickbank Affiliate
Here is one of the most comprehensive courses on how to make money with Clickbank.
It’s a kick-ass course that will make you start fast in Internet marketing.
Now that you know the basics of affiliate marketing, be sure to check out my online marketing newsletter where you can receive constant assistance and tips on how to keep up with your market.
So, I really hope that you enjoyed this article on how to use affiliate marketing to create passive income for your business.
I would really appreciate if you took the time to share this article with other fellow entrepreneurs, friends and family.
I hope to see you return for more of my work at Online Elites soon!
Patrick Viana
Online Elites