How does affiliate marketing work?
Now that
you’ve got an idea of the basics, let’s take a closer look at how affiliate
marketing works. Here’s a quick look at what we’re going
to cover in this section:
- Affiliate marketing models: Most
programs pay commissions for each transaction but there are other models
you may come across.
- Tracking: How
merchants know you are responsible for the sale and the limitations of tracking.
- Getting paid: When is your
commission money going to hit your bank account?
- Your
expenses: You have to spend money to make money in
this game – so what expenses should you expect?
- Step-by-step
process: A quick overview of the entire process for
affiliate marketers.
Affiliate marketing payment
models
In most
cases, affiliates earn a commission when one of their visitors clicks through
to a merchant’s website and purchases one of their products. However, there are
other affiliate marketing models you might come across:
- Pay-Per-Sale (PPS): The
affiliate gets paid for every sale they generate. This is the most common
model as it places all responsibility and risk on the affiliate
- Pay-Per-Lead (PPL): The
affiliate gets paid for every lead generated: online form submissions,
trial creations, free demo signups, or any pre-purchase.
- Pay-Per-Click (PPC): The affiliate
gets paid for all clicks/traffic generated, regardless of whether visitors
turn into leads or customers. This model is quite rare, though, as all the
risk lies with the merchant.
How
to become an affiliate marketer
To become
a successful affiliate marketer, you’re going to need the following:
- A collection
of products to review, recommend or mention within your regular
content.
- Platforms where you can recommend these products
(your blog, YouTube, email, etc.).
- A
large enough audience to generate serious affiliate income.
- An
affiliate marketing strategy to maximize reach and profit.
Choose
the products you want to promote
Now it’s
time to choose the products you’re going to promote in your affiliate marketing
strategy.
With so
much choice out there it can be difficult to narrow down your options but, once
again, you have to take a strategic approach to choose the right
products.
Promote
the products you already know and love
Generally
speaking, you should only consider promoting products you already know and have
enthusiasm for.
Don’t try
and recommend web design software to professional designers if you’ve never
designed a site yourself.
You’ll never
be able to talk about the product in enough detail to make valid
recommendations.
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