What is affiliate marketing all about? If you’re asking this, you probably already know something about what affiliate marketing is. Affiliate marketing is a business model where third parties earn commissions by selling other people’s products, mostly online.
Anyone can become an affiliate by joining an affiliate program. Once they have joined an affiliate program they learn how to promote their affiliate links somehow. This can be done in a number of ways and is mostly done online through marketing methods such as blogging, paid advertising, social media, email marketing and through the use of video.
When someone buys a product through an affiliate link, the affiliate who referred that customer gets paid a commission based on the sale. Because affiliate marketing can be done from anywhere globally, it’s gaining popularity as a method of earning money online. You don’t need any of your own products and it’s relatively cheap to learn affiliate marketing. It’s one of the most popular methods of earning income online.
What Is Affiliate Marketing All About – Amazon
Amazon, for example, has one of the most popular affiliate programs and many new affiliates will join Amazon’s partner program (affiliate program) and earn money by promoting products from the site. Since Amazon is well trusted, a large percentage of consumers are likely to buy from them. A recent study showed that 89% of consumers would rather buy from Amazon than from other e-commerce sites.
But while Amazon is good for consumers, it’s not so great for affiliates who typically earn only between 1% and 10% commissions for products they have sold. Other affiliate products pay much more, such as digital products which typically pay between 30% and 40% commission on sales.
What Is Affiliate Marketing All About – Clickbank
Clickbank.com is a “digital product marketplace” where many affiliates will find products to promote. Unlike Amazon, Clickbank promotes digital products which generally are better payers for affiliates. You can find thousands of products on the Clickbank marketplace which makes it a simple choice if you have an existing website for a means of making money through product promotion.
To promote any affiliate product you must first join a program associated with that particular product. Not all online products and services have an affiliate program, but many do. So you can find things to sell in almost any given topic.
Digital products are good for affiliates for a couple of reasons. You can earn larger commissions typically with digital products and they can be downloaded from anywhere digitally, so there’s no need for postage. The most profitable digital products are those which carry a high value or have recurring commissions attached to them. These are things like software products which have subscription charges or memberships.
High Ticket & Subscription Affiliate Products
With a high ticket product you can earn considerably more than with most other products you can find online. High ticket affiliate products are worth much more than your standard products. As such you can earn larger amounts from their sale. A good high ticket item can give affiliates commissions of $500 and above per sale.
The highest paying digital products are either super expensive physical products or digital education products which give huge value. The most profitable products include items which pay both high ticket and recurring commissions.
With such a business model, affiliates can quickly replace an existing income if they use paid advertising and sell to a scalable audience.
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Why Is Affiliate Marketing So Popular?
Affiliate marketing is a popular online business model because pretty much anyone can do it and there’s a very low bar to entry. You can learn affiliate marketing on a shoestring and although it isn’t easy to be consistently profitable with affiliate marketing, those who stick at it can see large financial rewards and a passive income over time.
The drop out rate in affiliate marketing is pretty high and only around 5% of those who start will continue to make it their full time income. But this is partly because it’s so accessible. Anyone can become an affiliate from anywhere globally. All you need is a laptop and internet connection. But being successful is another matter entirely because affiliate marketing is a performance based business model. This means if you don’t make any sales, you don’t get paid! So even though there is the potential for uncapped earnings, getting your affiliate business off the ground can be tough.
If you’re serious about earning an income through affiliate marketing it can be done alongside a job and in your spare time too. The versatility of affiliate marketing makes it a very appealing business model. Access an online training resource here.