The Complete Affiliate Marketing Guide: How To Get Your First Money
4 sides of affiliate marketing
This will help you quickly understand how the system works and who you can be in this type of marketing. Many sources are inclined to believe that affiliate marketing has 3 sides. But we will consider a familiar 4-member scheme:
1. Product creator
Other names: trader, brand, seller. This title is awarded to a company or even an individual who provides the product. In fact, the creator can be anyone: from Apple to a person who has recorded a cool weight loss technique on video.
Basically, the involvement of the product creator in affiliate marketing ends there. Its task is to simply make and provide a product that goes further through the system to the next representatives.
2. Partner
This is also a controversial side. Depending on the level of development and workload, a partner can be one person earning up to $ 1,000 per month on commissions. But sometimes there are entire affiliate networks on the market that generate millions of dollars by promoting products of different brands.
Sometimes partners use very cool and unconventional marketing. Of course, this is paying off, and companies generate tens of thousands of customers every month.
An example of a cool partner is any successful cashback service. Such companies earn on commissions. They provide customers with cashback for purchases in different stores, which is several percent lower than the commission itself.
Outcome:
- sellers and brands get customers;
- cashback service earns money on commission;
- buyers receive cashback.
Another option for a successful partner is reviews of different products in different formats. For example, you might have a blog where you describe products distributed across different topics. But, given the trends of the modern market, I recommend paying attention to the possibility of conducting a video blog. The so-called reviewers gather a large audience. You can recommend what you review in videos and give a link with an affiliate tag.
Wylsacom is the most successful Russian-language YouTube channel covering technology. The audience exceeds 3.5 million subscribers. Valentin Petukhov is reviewing various technologies that are interesting to viewers (mainly Apple technology).
When the channel reaches this scale, earnings from affiliate deductions recede into the background. Advertisers themselves contact channel managers and propose joint projects. For example, an electronics store might provide a reviewer with a technician and pay to encourage viewers to buy it. Advertising costs vary. It can reach 500,000 rubles per video. It all depends on the specific type of advertising.
3. Client
These are the participants in the system who make it work. It's clear that without sales, affiliate marketing will simply stop. Nobody makes money, which means that such a promotion does not make sense.
The partner communicates to the client the idea to buy the brand's product through different channels:
- contextual advertising in Google and Yandex;
- targeted advertising on Facebook, VKontakte, Instagram;
- integrated advertising on YouTube videos;
- Recommendations in a blog or video blog;
- promotion through famous personalities and opinion leaders.
Strong partners actually use many more ways. And the client does not always realize that he is part of the partner system. Many affiliates hide carefully that they receive commissions from brands and product creators.
Is it bad?
More likely no than yes. But only in those cases when the client either wins (as is the case with the cashback service) or simply does not lose anything. If a partner makes their mark-up on a brand's product and greatly inflates the cost for the end consumer, sooner or later his reputation will greatly deteriorate.
The advantage is that many single product creators and big brands already include affiliate deductions in the retail price of the product. This means that the partner has a fixed price, from which it is better not to deviate. Due to this, the cost of the same product in the entire market is approximately the same, and all trading platforms can compete with each other.
4. Affiliate network
It is a service that brings together product creators and partners. Moreover, networks allow these parties not to contact each other at all.
How the process goes for the product creator:
- Registers in the partner network.
- Loads products that are going to sell through partners.
- Indicates the commission percentage.
- Creates an affiliate program.
- Affiliates sell products via links and receive commissions.
- How the process goes for a partner:
- Registers in the partner network as a partner.
- Selects an affiliate program by topic, commission percentage, conditions.
- Registers in the affiliate program receive links.
- Distributes affiliate links to customers.
- Receives a commission for products sold.
Everyone is in black. The main advantage of using an affiliate network is guaranteed. Affiliates are confident that they will receive their commissions and will not be cheated.
How to become a partner: 4 steps to making big money on other people's products
If you are looking for an effective way to make money, then affiliate marketing is a great option. Moreover, you practice and gain experience, thanks to which you can actively promote your own business in the future.
The main skill of every successful entrepreneur is the ability to sell. If you master affiliate marketing perfectly and can be successful in selling other people's products, then your own products will definitely not be difficult.
So, to become a good partner, you need to take 4 big steps:
1. Choose a niche and specific product to sell
The advantage of participating in affiliate marketing as an affiliate is that you skip the steps of finding an idea and creating a product. You can literally during the day choose from ready-made options what your heart is in and get to work.
You can choose any product. If it was created, then there is a demand. That is, you can definitely find an audience.
2. Collect a subscription base for sale
Having a large subscription base, the audience of which is related by subject, you can always sell affiliate products from the chosen niche.
To collect email addresses, you need a lead magnet. This is a free informational (most often) product that you provide to users for their contact information.
3. Host webinars and live broadcasts to increase audience loyalty
There is a false opinion among Russian-speaking entrepreneurs: webinars are held only by those who are engaged in the information business.
This is not true!
Yes, with online masterclasses it is convenient to sell different courses and training programs, but the goal is NOT always direct selling. Sometimes webinars are held to give the audience more valuable free content and significantly increase consumer confidence in the brand.
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