What Is Affiliate Marketing?
In this post, I’ll be explaining what affiliate marketing is. I’m going to break it down into the simplest easy to understand English for beginners. Some of the topics we’ll be looking at include, what affiliate marketing is, What an affiliate marketer is, where to find affiliate products to promote and How to become an affiliate marketer.
Affiliate marketing is the process of earning a commission by promoting someone else’s product or service. By promoting someone’s product or service using what is called “an affiliate link”, someone clicks on that link, and purchases the service or product, You get a commission.
In other words, Affiliate marketing is when you help sell other people’s products or services in exchange for a percentage or a fixed rate. When you help companies or individuals sell their products or services, You get a cut.
Company A has a Product and Needs Help Selling The Product -> You (Marketer) Promotes The Product and Bring in Sales For The Company -> Company A pays you a commission for each sale you make for them.
What Is an Affiliate Link?
An affiliate link tracks and monitors the online performance of an affiliate marketer. Since the concept of affiliate marketing is based around revenue sharing for the marketer and the product/service owner, Conversions, clicks, and sales need to be identified and tracked.
An affiliate marketer needs an affiliate link before promoting a product/service. Due to this, Vendors provide a unique Affiliate ID or tracking number to each affiliate in order for the vendor to know where and who brought in the sale.
An affiliate link is usually comprised of your URL and the Vendor’s ID or The vendor’s URL and your Unique ID. Below is an example of what an affiliate link looks like.
AN AFFILIATE LINK IS AN AFFILIATE MARKETER’S TRACKING AND IDENTIFICATION LINK.
Who Is an Affiliate Marketer?
An affiliate marketer or an Affiliate is a salesperson for a company or vendor. You help a product/service owner make sales, you get paid. The money you receive from the merchant or vendor is referred to as an affiliate commission.
How Do I Become An Affiliate Marketer?
Becoming an affiliate marketer isn’t much of a hustle. In order to become an affiliate marketer, you can either message companies privately and explain to them how great you think their product/service is and how you intend on bringing them more sales for a percentage of the item/service you want to promote. Or you can sign up to an affiliate network for free and have access to 200+ products ready for you to promote, which is what 95% of what everyone does.
Even though some affiliate offers on these networks require you to apply specifically for their product before promoting them, these vendors only do so to get to know who their affiliates are and how they intend on promoting their products.
In most cases you will get approved, If you don’t, there are a ton of other products on the network you can promote without applying for.
Can Ghanaians, Nigerians, and Africans Become Affiliate Marketers?
Yes. Affiliate marketing isn’t only limited to citizens of tier 1 and 2 countries. Africans, West Africans including Ghanaians and Nigerians can become affiliate marketers, and there is no degree required for this.
What Is An Affiliate Network?
Image Source: Smartsinsights
Affiliate Networks link publishers with Vendors or Companies. An Affiliate network acts as an intermediary between merchant affiliate programs and publishers.
By Signing Up for an affiliate network, You get access to tons of products ready for you to promote. Most Affiliate networks are free to join and do not require any signup fee.
Each product comes with an affiliate link to track your traffic, sales, and conversions to the product or service link. Payments are usually made monthly from the network to your Paypal, Payoneer or Bank account.
Some of the Top Affiliate Networks Include:
- Commission Junction (CJ Affiliate)
- Amazon Associates
Benefits of Affiliate Marketing
Affiliate Marketing is flexible, You get to choose what products/services you want to promote, how you intend to promote it and also the number of items to promote. Being an ordinary salesperson will permit you to work with one company at a time, With affiliate marketing, you can promote products from multiple companies and earn commissions from all of them.
The Best part about being an affiliate marker is that you don’t need to create your own products to sell, You get to make money from selling other people’s products and services.
Another benefit of being an affiliate is you get to work from anywhere in the world, and you choose your own preferred hours. Affiliate marketing is one of the top ways to make money online.
How Much Do Affiliate Marketers Make?
There isn’t an exact figure as to how much affiliate marketers can make. The earning potential for affiliate marketers is unlimited. Some marketers make up to $500,000 a year from just promoting other people’s products and services. Small affiliates make anywhere from $150 to $2500 a month.
Your monthly or yearly income will depend on your marketing strategies and the type of products you promote. Some merchants pay up to $700 or more per sale for selling high ticket items.
A marketer called Phat Flynn from Smart Passive Income banked in over $100,000 a year in affiliate commissions from 2016-2017. Below is a screenshot of His INCOME REPORT Data which includes the services, products, and courses he promoted during that period.
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