Learn How To Earn Money By Doing Affiliate Marketing?
Affiliate Marketing is hottest Marketing term in Online Business. Whenever I use the term in my communication, almost 90% people reply to me asking what is Affiliate Marketing? Bloggers, Marketing students, and Internet marketers who have been studied or involved are familiar with affiliate marketing, and also with the fact that it is the most effortless way to earn money online. In this article, I will try to make you all understand Affiliate Marketing and all the details you need to know in order to understand how affiliate marketing works.
So the first question is what is affiliate marketing?
Affiliate marketing is the form of marketing wherein you refer someone to any online product and when that person buys the product based on your recommendation, you receive a commission. This commission varies from ₹100 to ₹10,000 depending on what product you are promoting. Remember different companies have different policies and strategies and also product categories have different commission rate. For Example, if someone buys electronic products then the commission would be nearly 18%. Whereas if someone buys apparel based on your recommendation then the commission would be nearly 10%.
The second question is how companies track the record of who is sending the traffic and making the sale?
The most common question often asked by people who are all set to become associate users(Affiliate Marketers) for the online business. The answer is simple, companies track the traffic record with the help of a tracking URL (a unique link given to associate users by the affiliate company or product company). This URL is used to keep track of all the traffic and sales you are making through your website or other promotional tools.
The third question is, is it chargeable to be an associate user? Can we sell only tangible products?
Companies are not only offer Affiliate program for tangible products, but also they offer the same for intangible services. Many online companies who sell intangible services such as web-hosting spaces, or some other service. There is no charges for being an associate user. You can simply sign up for the program and get your unique tracking link. Now, whenever you are writing about their product, you can simply use this special tracking affiliate link which was given to you by the company to recommend the company’s site. If someone buys anything, you will get a commission.
What are terms and condition companies set to their associate users?
Every affiliate program has a set Terms of Service(TOS). Companies provide cookie period to their associate users, cookie period means number of days offers to consider sale’s commission. Most of the companies offer 60-day cookie period. For example, if a person uses your special affiliate link to land on the sales page of the site and buys something within the next 60 days, you will be entitled to the sale’s commission.
Also payment terms are different from company to company. Some companies will pay you right after the product gets sold and some companies take a week or 15 days time.
_Here are some of the common terms associated with affiliate marketing:_
Affiliates: Publishers like you and me who are using affiliate program links to promote and make sales.
Affiliate marketplace: There are many marketplaces like Sharesale, Clickbank, etc. These work as central databases for affiliate programs in different niches.
Affiliate software: Software used by companies to create an affiliate program for their product.
Affiliate link: Special tracking link offered by your affiliate program to track the progress of your affiliate promotion.
Affiliate ID: Similar to the affiliate link, but many affiliate programs offer a unique ID which you can add to any page of the product site.
Payment mode: Different affiliate programs offer different methods of payment.
Example: Cheque, wire transfer, PayPal, and others.
Affiliate Manager/OPM: Many companies have dedicated affiliate managers to help publishers earn more by giving them optimization tips.
Commission percentage/amount: The amount or percentage you will be receiving in affiliate income from every sale.
2-tier affiliate marketing: This is a great way of making money from an affiliate program. With this method, you recommend that others join affiliate programs, and you receive a commission when a sub-affiliate makes a sale (similar to MLM or multi-level marketing). This income is also known as a sub-affiliate commission.
Landing pages: A unique product sales or demo page used for the purpose of increasing sales. Most of the programs that you will be promoting have many landing pages, and you can run A/B testing to see which pages convert best for you.
Custom affiliate income/account: Unlike a generic affiliate account, many companies offer custom affiliate income to people making the most affiliate sales for them.
Link clocking: Most of the affiliate tracking links are ugly. Using a link clocking technique like URL shortness, Thirsty Affiliates, etc., you can turn ugly links into links that can be read and understood by your readers.
Custom coupons: Many programs allow affiliates to create custom coupons which are also used to track sales. Custom discount coupons help you to increase affiliate sales as well.
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