Setting up your own media buy is actually pretty easy. You can try doing a direct media buy with a website owner or you can go through a network that brokers out the display traffic of other websites. For my next media buy I plan to go through a network.
What is Affiliate Marketing?
Affiliate marketing involves having your own site and sending your traffic to someone else’s site to buy their products or services. For every sale initiated by a link from your site, you earn a percentage–an affiliate sales commission.
How Does Affiliate Marketing Work?
Affiliate marketing is basically when you are rewarded for helping a business promote and sell its product.
If you sign up for Konga affiliate program and promote its product, then you will get a commission when the visitor you send from your site, blog or Facebook page makes a purchase.
When you join Konga Affiliate program and choose the products that you want to sell, Konga will provide you with a unique affiliate code that you can use to refer traffic to their website.
When interested customers click on these links from your site, blog or Facebook page, they get redirected to Konga and if they purchase a product or subscribe to a service you as the referrers make a commission.
Do you want to know the exciting part of affiliate marketing?
You don’t need to sell products all the time to make a commission.
Yes… you really do not have to sell all the time to make a commission.
This is basically because different affiliate programs can use different payment terms such as:
Pay per Sale: In this program, a product owner pays you a percentage of the sale price when the purchase is completed.
Pay per Click: In this program, you get paid based on the number of visitors you redirect to the products owner website from your affiliate site, whether or not a sale is made.
Pay per Lead: You get paid once the referred visitors provide their contact information on the target site by filling out a simple contact form.
With that said,
Let’s look at the benefits of affiliate marketing in more closely.
What are the benefits or advantages of affiliate marketing?
Here are some of the importance of affiliate marketing and why you should invest in it.
1. Low Startup Cost
Other startups require huge startup cost, you don’t need to spend 1 year raising a large capital investment from investors before your business can function.
In affiliate marketing;
You only need to spend $3/month on hosting plus $7 for a domain in order to launch a website.
Sometimes you don’t even need a website!
You can start affiliate marketing without a website, on Facebook, on Twitter, on Youtube and so on.
Perhaps, to make the most out of affiliate marketing, it’s recommended that you have a website where you promote and review affiliate products.
We offer cheap hosting services for your website or blog if you intend to create a blog from scratch (click here to see our hosting and domain packages).
From then on,
Your only true costs are content (which you should be able to write yourself), choosing a nice CMS and website design (you can use WordPress, which is free) and then writing a blog post to help generate traffic and sales to your site.
Even once you start earning an income with your site, your overheads will still remain low. You don’t need to hire an expensive office to meet clients in, you don’t need to hire anyone to deal with customer support (like you would in an e-commerce venture).
You don’t need to hire an expensive office to meet clients in, you don’t need to hire anyone to deal with customer support (like you would in an e-commerce venture).
2. Earn An Income Quickly
Earn An Income Quickly
With affiliate marketing, you can literally start making money almost straight away.
If you work in popular niches such as technology and fashion for instance, then you can earn lots of money for every customer you refer to buy.
You only need to refer a few customers every month to make huge money.
This strategy is how I started my own affiliate marketing business around studying at college. I then kept re-investing and doubling my income to the point where I was making enough money to pursue it full time as a career. It really can scale quickly once you start to see your first sales.
Remember, you don’t need to provide any ongoing support or services to your referred customers.
Once you’ve referred them, the operator/merchant will take care of the customer loyalty and upsell marketing campaigns.
3. You Can Make Millions From Affiliate Marketing
One of the misconceptions of affiliate marketing is that it’s only for small businesses.
However, there are plenty of cases where affiliates have gone on to build multi-million-pound brands and ventures.
Some Nigeria blogger like Mr Pascal Okafor, the owner of www.naijatechguide.com has hit a jackpot with Konga.com affiliate program. He won N1,000,000 as the best affiliate marketer of konga.com.
The truth is,
Affiliate marketing has no limits, the more traffic you garnered, the more money you make. It’s your affiliate marketing strategy that matters most.
One of the lessons to be learned here is to launch an affiliate marketing business in a high-growth industry in Nigeria or one where you can add your own unique value to your Nigerian visitors. This is what will help you scale your site quicker and reach that dream of retiring at 21…hehe.
This is what will help you scale your site quicker and reach that dream of retiring at 21…hehe.
4. It’s Easy To Scale An Affiliate Marketing Business
It’s Easy To Scale An Affiliate Marketing Business
Many successful affiliate marketers have discovered that scaling their businesses into the white label, dropshipping or wholesale operations was not a terribly difficult task.
An increasingly common thing I’m seeing successful affiliates do nowadays to scale their operations is to launch their own white-label operation or skin
The advantages of starting your own white label are that you can increase your conversions by reducing traffic leakage as well as recruiting other affiliates to promote your brand on your behalf.
It also is very easy to scale an affiliate marketing site in eCommerce by venturing into dropshipping or wholesale.
5. Many Monetization Sources
Many Monetization Sources
One of the reasons one should focus on affiliate marketing is:
Affiliate marketing lends itself really well to different marketing channels and sources of customer acquisition.
RightCasino managed to monetize traffic through industry and entertainment news, Twitter, PPC (we’ve just translated our site into foreign languages to take advantage of cheaper sources of traffic in other countries), email marketing and others. (We will show you how you ways to promote your affiliate products faster if you click here to join our digital marketing training)
Some brands even let you advertise your affiliate links directly on media and PPC networks such as Facebook. This means you don’t even need your own website to start affiliate marketing.
These 5 reasons are the most important factors why you should start affiliate marketing today.
But, are there cons of affiliate marketing?
Affiliate marketing can be a great and successful venture that one undertakes. It clearly has its disadvantages too.
Disadvantages of affiliate marketing
1. Take time to establish
In spite of all the goodies attached with starting an affiliate business. Bear in mind that, it is not a get rich quick scheme.
Just like every other business, affiliate marketing takes time to establish.
On average, it takes between 18 to 36 months to start earning a real income from affiliate marketing sites, and that is if you work on the site just about every day.
Building an audience, getting ranked in search engines, gaining the trust of readers, and finding lucrative affiliate partnerships takes a while.
2. Requires self-discipline
It is not like other traditional jobs that require you to follow a set routine tasks and agenda.
Affiliate marketing can be carried out at your own time when convenient.
And for this to be achieved, it requires a lot of self-discipline to get to the top.
3. You may run into bad affiliate partnership
When you search on google for top affiliate marketing programs, you will find so many.
But the truth is;
Not all of them are paying with high commission.
Your affiliate partner will decide not to pay you for your work or may even change leadership or go out of business.
4. No control over pricing and commission
Another one of the big industry disadvantages of affiliate marketing is that you usually can’t negotiate product pricing.
This also ties into having very little control over commission rates, which are often set by the company.
These two factors are controlled by the affiliate company you’re in partnership with.
5. Huge Competition
This is one of the biggest industry advantages but also fit into disadvantages of affiliate marketing list.
What makes affiliate marketing so attractive is it has a low barrier of entry. Unlike other entrepreneurial activities, you don’t have to have a lot of startup capital or skills or training to become an affiliate marketer.
That’s why people are signing up for different affiliate programs to sell one thing or the other.
Affiliate marketing has big competition and you should always have that at the back of your head.
You just have to take advantage of this competition and to do that, when first starting out, finding the right niche for your affiliate business is so crucial and it all starts by choosing the right domain name.
Now that you have seen the meaning, advantages and disadvantages of affiliate marketing,
I’m sure you want me to tackle questions such as:
How do I start?
What level of literacy/skills do you need?
Which are best-paying ones?
What is the commission model like?
How can you promote your affiliate link?
How do you get an affiliate link?
How do you monitor the clicks on the link?
Calm, take a chilled Fanta as I’m about to take you for a ride.
So, let’s get down to business real quick!