WHAT IS AFFILIATE MARKETING?

ONLINE BUSINESS

Affiliate Marketing is a great way to start making money online.

It's a very simple business model to get up and running with as little as a laptop and wifi.

It's also one of the best ways to earn passive income (do the work once and keep on earning for months or even years down the track).

SO WHAT IS AFFILIATE MARKETING?

Affiliate Marketing is simply promoting someone else's product - and being paid a commission when a person buys that product.

The commission paid will either be a percentage of the product price or a set rate for that product.

The different types of commissions that can be earned are:

ONE TIME PAYMENT - Sell a product once, get paid once

RECURRING - Sell a membership or subscription once, get paid each time the customer pays their membership or subscription fee.

TIERED - Get paid a commission when someone you refer to the business, makes their own affiliate sale

Affiliate commissions are often classed as either high-ticket or low-ticket

HIGH TICKET

Earn into the hundreds or thousands per sale. You could replace your 9-5 income with just 1-2 sales per week

LOW TICKET

I class this as earning under $100 per sale, it could be as little as $1. It takes a lot of low-ticket sales to create a decent income.

If you're looking to create a full-time income with affiliate marketing, high-ticket is the way to go... or a mix of both with high-ticket being your main income stream.

HOW DOES IT WORK?

When you sign up to an affiliate program, the company will provide you with your own unique product link.

When someone clicks on your link and buys, the company knows that the sale came from you.

Your link will also attach a cookie to the person's browser when they click the link.

This means that if they don't buy straight away - you will still get a commission if they decide to buy at a later date, as long as it is before the cookie's expiry date.

The expiry date is different for every company - usually between 30 - 365 days.

(For anyone who fears all the techy stuff - don't stress, this cookie biz is all taken care of by the affiliate company!)

WHY BECOME AN AFFILIATE MARKETER?

There are SO many reasons why... some of the big ones are:

  • Earning passive income and free up your time

  • Replacing your 9-5 and working whenever & wherever you want

  • You get to focus on growing your marketing skills without having to worry about product development, delivery and support (although you might like to assist those who buy through you)

  • The product owner will have already established credibility

The reason I chose affiliate marketing and the company I'm an affiliate for - is that they teach you the skills to become an affiliate marketer and pay up to $5,000 commission for their highest-priced product package. From just 1 sale I can earn the equivalent to working 7 weeks in my part-time job.

There are some things to be mindful of when choosing affiliate marketing as your business model:

  • Because you don't own the product - the price, customer service or product quality can change at any time.

  • The company could even close without any notice.

To avoid any big loss of income, choose a company and products that are well established and consider creating multiple income streams.

HOW TO GET STARTED

The most important things you need to get started are:

  1. Digital Marketing skills

  2. A Personal Brand

  3. Affiliate programs/products or services to promote

  4. Platforms to promote on

LEARNING DIGITAL MARKETING SKILLS

The NUMBER ONE requirement to be a successful Affiliate Marketer is - to learn digital marketing skills.

Although I mentioned earlier that Affiliate Marketing is the simplest and fastest way to get started online, the speed and level of success you have depends on how good you are at marketing & selling products.

If you don't get that part right, no one will be clicking on those links.

Now there is a tonne of free information available on the internet that will teach you how to get started.

But if you are really serious about making a full-time income from it, and you don't want to waste heaps of time trying to piece it all together, then I highly recommend investing in some training & guidance.

Learning from someone who has achieved what you want to achieve, having a step-by-step process to follow, and having someone to ask for help when you get stuck... is the fast-track to success.

Click here if you want to check out the digital marketing training that started my affiliate marketing journey!

CREATE A PERSONAL BRAND

Did you know you already have a personal brand?

It’s everything about you!

  • Your personality

  • Your values

  • Your interests

  • Your lifestyle

When you share these things about yourself it connects with people who share the same traits, values, interests and lifestyle as you.

Over time you build trust with them and they may want to buy what you are offering.

Think about how many times you have bought something because a friend or someone you follow on social media shared a product or service that they love. When you trust that person you trust that it will be a good product.

To get clear on your personal brand, ask yourself or write down the following:

  • What are your values? (Example: humour, transparency, authenticity)

  • What are your interests?

  • What are the things you are good at?

  • What do people always ask for your help with?

  • What areas do you already have skills in?

  • What kind of lifestyle do you live? (Example: Travel, camping, health & fitness)

Then look around on social media for other entrepreneurs & influencers with similar personal brands. Take notice of the type of content they are sharing for inspiration (do NOT copy)

FIND AN AFFILIATE PROGRAM & PRODUCTS/SERVICES

Finding affiliate programs in any industry or niche is fairly easy to do. Once you know what types of products or services you want to promote, it's as simple as googling 'the product' + 'affiliate program'

Another way to find them is by thinking about a product or service that suits your interests that you have heard of or have maybe even used yourself. If you head to the website check the main menu or the menu at the bottom of the site (in the footer) if they have an affiliate program.

When researching affiliate programs the MOST IMPORTANT thing to consider is whether the company and its products or services will be the right fit for your audience.

WAYS TO PROMOTE PRODUCTS OR SERVICES

There are 2 different approaches you can take to get people clicking your links - free advertising & paid advertising - and they each have various platforms to create content on.

Free Advertising

  • Blogging

  • Facebook

  • Instagram

  • TikTok

  • LinkedIn

  • Pinterest

  • Youtube

  • Email Marketing

Paid Advertising

  • Facebook & Instagram Ads

  • Pinterest Ads

  • YouTube Ads

  • Google Ads

It is important when getting started to work out which approach will best you.

If you have time available - but not a lot of money, then creating content for free advertising is going to be your best option.

If you don't have a lot of time but you do have money to spend, then paid advertising might be the way to go for you.

Keep reading...