07 Aug All you need to know about Affiliate Marketing
What is Affiliate Marketing?
Affiliate marketing is a form of marketing where you refer your reader or friend to buy any online product. When he buys the product based on your recommendation, you will receive a commission, which varies as per the product which you are marketing. In simple terms, you find a product you want to buy, sign up any one of the affiliate program, get a link which will allow you to track people who clicked your link and finally you will get a commission.
How does it work?
It works by clicking on the special link provided by the particular affiliate program. The most common type of tracking is via a cookie. When the link is clicked, a cookie is stored on their computers letting the merchant know that if a sale is made, it came from you.
How to sign up?
Sign up Amazon’s affiliate program. It is an excellent starting point as you will get a lot of products to promote.
Which products to promote?
There are three types of products you can promote through affiliate marketing:
- Physical Products
- Information Products
Though physical products are easiest to sale, they generate less commissions (approx. 4%-10%) as lot of other factors contribute like manufacturing, wholesaling, shipping, etc.
Information Products have better prospects because cost of production is so much lower. You can get a commission of 30-50%.
It is also easy to make a sale on services, because you can usually expect commissions between 15-30% on service products.
Promoting the products:
There are many ways to promote the products. The most efficient way is to write a product review in your website or blog. The review should be honest and personal so that it will talk to the people reading it. You can also use banners in your sidebars. Another way is to promote is by using affiliate links to your own blog post. You can add these links in the end of the posts, thus recommending the readers to use the products. You can also make use of your email list to make affiliate sales.
These are the basic things which you need to know about affiliate marketing. If you have any suggestions, then feel free to use the comment section.