These are some common questions that newcomers to the field of internet marketing ask. Being an online marketer for over 2 years now, I thought of sharing my thoughts and experiences about affiliate marketing with you. Hope this blog gives you some clarity on what all you can expect from affiliate marketing programs.
Let us first understand what affiliate marketing is…
Affiliate marketing is a business deal between an online marketer and a website owner. Here the online merchant and the website owner agree to share their revenue. The website owner places advertisements on his website to promote the sale of the products for the online merchant and to attract potential customers to the merchant’s website.
The merchant in turn gives a share of his profits to the website owner. In simple words, in affiliate marketing you are promoting a product that is NOT your own and in return earning commission out of it.
The compensation that the affiliate earns may be based on pay per lead or pay per sale/revenue share. In pay per lead the money earned by the affiliate is based on every new introduction of a potential client to the merchants product. In case of pay per sale or revenue share, the compensation is a percentage of the product sold.
One area where affiliate marketing scores is you do not have your own product so you are spared of the headaches involved with the inventory, taking orders, shipping and handling of products. All you have to do is promote the product on your website.
However, it is not that simple as it sounds and mastering the art of affiliate marketing takes time. So what are the tips and tricks that can help a newcomer become a star affiliate?
- Research & Choose your Niche: The very first step would be to do a fair amount of research to decide on a niche that is profitable but at the same time not very competitive. You need to thoroughly study your niche and the keywords that will bring you the maximum traffic. The trick is to find a sub niche of a very popular niche.
- Promote Quality products: When promoting a product or service on your website, make sure the product is good. Many affiliate marketers recommend products to customers without even knowing about them and this affects the trust factor of your audience. If you lose trust once, it is difficult to rebuild it.
- Understand Search Engine Optimization: Search Engine Optimization or SEO is important to understand as you would want your website to rank high when someone searches on your keywords. Your website in turn will then showcase the products and services you advertise to customers and help you earn revenue.
- Effective Copy-writing: The language you use on your website should bind readers. A smart copywriter will ensure that your copy is interesting as well as valuable to the visitor reading it which will ultimately lead him to buy your product.
So if you ask me…there is NO SUCH THING as Affiliate Marketing for Dummies. Websites that promise to make you a master of affiliate marketing in a week are probably bordering an overstatement and are simply fooling you.
There are no magic formulae attached to it and as in any other business, you need to put in your hard work, dedication and thorough research to become a successful affiliate marketer.