I got no idea what you do for a living. What I know is that I write and make money.
Earning money through writing makes me an authorpreneur. Though books are not the mere products that bring me money.
If I were to segment my earning streams. Then, a significant one will be the amazon affiliate earnings.
My earnings are still nothing compared to the stalwarts in affiliate marketing. Though I earn much more than what I would have been earning through the corporate career that I quit years ago.
There are numerous bloggers who earn millions in a year through this unique form of earning.
A few popular names are – Michelle, Patt Flynn, and Spencer Haws.
Whenever I tweet about receiving affiliate payments. My twitter feed gets bombarded with questions.
This is the article that will answer the doubts and concerns regarding those queries.
If you have been inquisitive about starting your own independent venture. Then, you can read further.
What is Affiliate Marketing Business?
It is the business that sells products/services of another business for a commission.
The business that receives a commission is the Affiliate. While the one that gives referral commission runs the affiliate marketing programs.
In essence, the affiliate serves as a marketing arm for the Affiliates provider. Thus, the activities done by the Affiliates get termed as Affiliate Marketing Business.
Majority of the e-commerce businesses run affiliate programs to widen their scope. While the affiliates are their marketing workforce that promotes their offerings.
What Is Affiliate Marketing and How Does it Work?
The e-commerce organizations provide individual unique links to each of their affiliates. With systems built in place, the performance of affiliates gets tracked.
Thus, as long as affiliates bring in sales for the e-commerce companies. They end up receiving commissions from them.
Whenever a potential buyer uses the links by the affiliates. The e-commerce business gets a sale. Also, the respective affiliate gets a commission on that sale. Though the buyer pays nothing more than the usual price of the offering. The affiliate commission is a price that organization pays for their promotion.
Thus, the affiliate marketing ecosystem is a win-win for all.
Why Start an Affiliate Marketing Business?
The one word answer to doing affiliate marketing business is MONEY.
But my reasons to dive into earning through affiliate marketing are multi-dimensional.
They are –
1. Frustrating Corporate Career
The thought of working in an organizational set up makes me sick.
I have had my substantial share of working for others in an office set up. My resume boasts of working for global industry leaders in their niche. Also, I have worked with innovative startups.
But for some reasons, every job and every job culture were similar in disappointments. From frustrating work culture to pervert bosses to dirty washrooms. I have seen a lot of unfortunate times in my corporate career.
My unsuccessful corporate career is the #1 reason I adore affiliate marketing. The affiliate model of doing sales got none of the demerits of corporate sales profile.
2. Ease of Doing Sales
If you are in sales or ever done it, then you know what I mean. The bigger the deal size, the more physical efforts you got to put in.
This is how a typical sales pattern works in any traditional business.
But the scenario is different from Affiliate sales.
That means once your marketing and sales set up is on-point. Then, no matter how much the volume of sales increases. Your efforts in proportion to converting bigger sales numbers do not increase.
By that I mean irrespective of the size and number of deals, your efforts remain more or less the same.
For instance, when I started with Affiliate Marketing. I would spend about 10 hours/week on my website to earn pennies each month.
Today, I still spend 10 hours per week, but my income has increased 10 times.
3. Minimal Startup Expenses
The expenses to set up a traditional business is pretty high. Even the famous multi-level-marketing programs ask for a purchase to accept new applicants. On the contrary, the cost to start an affiliate marketing business is close to zilch.
By zilch, I mean 0. With the exception of a few affiliate marketing programs. Most of them require nothing to become affiliate partners with them.
That means you can start earning commissions without even spending a dime. Have you heard of any other business opportunity that gives such a privilege?
I have not. No wonder I stick to affiliate marketing to earn moolahs on an auto-pilot.
Moreover, I can market to as many businesses at one go. Plus, it is my decision to market whichever business I wish to. This kind of freedom to do business is a rare blessing.
4. No Cap on Earnings
Raise your hand if at any point in time you have not got the bonus you deserve.
I have raised both my hands right now.
I have come across a few bizarre reasons for not receiving the sales bonus. But my personal favorite has been – a single deal that met the quarterly targets.
Yes. instead of rewarding with privileges for a single power deal. The company denied a sales bonus because the single deal reflected poor on their number of sales.
When compared to affiliate marketing. Such a scenario could have rewarded the respective affiliate some privileged goodies.
5. A Legitimate Means to Earn a Living
I do not know about you. But I have tried my hands at a number of professions.
From a corporate slave to a slave of my own business. Between my own career and careers of the people around me. I have observed a wide range of businesses.
From cajoling your superiors to bribing the government. Running a successful brick and mortar business brings in a few immoral consequences.
I do not judge the choices of others. But on a personal level, I cannot justify illegal measures to boost business.
That is a major reason why I am in deep love with affiliate marketing. As an affiliate, I earn a living that guarantees me a peace of mind.
If these reasons to start an affiliate marketing business resonate with you. Then, I lead you the important question –
How to Start Affiliate Marketing for Beginners?
As affiliate sales happen through unique links. So, you need a platform to promote those links.
That platform can be the emails, social media or your own website.
Once you get an access as an affiliate to an affiliate business program. Then, the next step is to write content to facilitate sale through affiliate links.
Sounds Easy? Yes, it is that easy. But much like life, you need some experience to get it right.
With years into earning through various affiliates. I can share the few pointers that have helped me hone the process.
They are –
Affiliate Marketing Tips for Beginners
1. Do Not Become a Desperate Affiliate Marketer
This one is not difficult to understand. But still, many rookie affiliate marketers are guilty of committing this mistake.
Would you consider the words of a salesman who endorses every product in the market?
Of course NO.
Isn’t that most of us consider salesmen who endorse limited chosen brands?
Of course YES.
So, the next time you get the temptation to be a part of a new affiliate marketing program. Then, remember this adage – A bird in the hand is worth thousands in the bush.
2. Do Understand the Business Process
If you understand how businesses operate. Then, you would not commit the above two mistakes.
Once you understand how business workflow happens. Then, you would only market those brands that you believe in. The ones that you know help issues of your target market.
As a rule of thumb, I stick to marketing only the brands that I myself use. Thus, I know in and out of those products which further makes selling them easy.
3. Do Maintain Professional Standards
If there is one takeaway from this post, then it is this one. Without your own website, you and brand have no identity.
By this I mean you should have your own self-hosted website. No free sub-domains from Bloggers and WordPress.
I understand the temptation of flooding your Facebook and Instagram with affiliate links. But sorry, that is a gamble.
Moreover, some of the affiliate programs are stringent on using websites for promotion.
So, instead of using free sources to test your affiliate links. You should rather build a business website equipped with a blog.
Thanks to companies like Siteground. It is easy and economical to start and maintain a robust website with them. They cost less than 50 $ a year. Plus, they have a phenomenal technical support service. Because of that, I do not have to make an investment to troubleshoot technical glitches. All I do is write them a mail, and within minutes my technical issues resolve.
After using a number of hosts, I have become loyal to Siteground. These are the ones that give me an absolute peace of mind. That is how I am able to concentrate my efforts on building my blog content.
If you wish to have affiliate marketing websites that earn you a living. I urge you to check them out.
Affiliate marketing is a boon to online businesses. It is worth the efforts you put into it.
Because of it, your website need not chase page views to become profitable. Rather you can reap benefits even when your page views are less than 10,000 per month.
No wonder affiliate marketing is the preferred choice of monetization for seasoned bloggers.
Like any business opportunity, it comes with its caveats. But as long as you employ legal means of generating sales. You can assure yourself a lifetime of passive income earning potential.
All you need is to start an affiliate marketing business. That is the stepping stone to upgrade your career and lifestyle.
Header Image Courtesy: Pixabay