Are you an opportunist looking to make some extra money on the side or a student looking for an easy way to earn a little without having to leave home?
Then behold, affiliate marketing is for you. It is the perfect job for you if are wanting to start a “work from home” business. Everything is done online so you can do it in the comfort of your own home or while sipping coffee in your favourite cafe.
But before you start day dreaming about money coming your way easy, you need to know how affiliate marketing works. Basically, you promote a company’s products/services online on your blog, social media page etc. There is a vast range of products and services which can be promoted. As a promoter, you earn money on a commission basis. The number of times the link to another website where they can buy products/services is clicked by a visitor via your website/blog is tracked and you are paid a commission. Different companies offer different commission rates. It can be calculated as a percentage or fixed rate per conversion.
Conversions and how they are tracked
Now, what are conversions and how are they tracked? Conversion is when the visitor of your webpage clicks on the link of the website you are promoting. When you sign up as a promoter for a company, you are issued a code which is your unique identifier. So when you add the link to another website on your blog, this unique code is embedded in that link. This is how your client manages to keep track of the conversions and calculate your pay.
In another case, when a visitor on your reference takes an online survey and provides their name and address or signs up for a newsletter and provide their e-mail address, you get paid a fee. How does that work? You as a promoter will be given a coupon code which you need to provide to your visitors. This is how it will be tracked.
One of the first websites to implement affiliate marketing was Amazon. This program was implemented in 1996 and has enabled the company to make billions in sales today. Working online or E-commerce was established 4 years after the World Wide Web was created. Affiliate marketing is a billion dollar industry in today’s age and it is forecasted that it will keep on climbing up the chart.
So now you know how it works and how to make money from affiliate marketing. If you can grab an opportunity, then grab this one now! With the right techniques and audience, your blog can turn into your money making machine.
Niche Market Research
Do you know what it is that a business needs to survive? Income. To make a decent income as a promoter you need to find the right niche market for your online business. What you need to do is start with market research. Get to know what you’re jumping into and be aware of the market as best as you can.
There are a number of different niche markets available. You simply need to find the right match for you. How will you know which niche market is best suited for you? Here is the way to identify it.
How to find a Niche Market
A niche can be a sub-category in a category. For example, health and fitness is a category. The sub-category you will be promoting could be a variety of health beneficial recipes. To choose the perfect niche market, you need to be well aware. Choose a category and then a sub-category when deciding between niche affiliate markets. You can even break it down further and choose an affiliate product.
If you pick golf as a category, the niche in this market could be golf tees or golf shirts. If you are looking for a specific product, you could even identify the niche market as different types of golf shirts. Once the niche is decided upon, you can now find the most suitable affiliate products to begin promoting.
But remember. Different niche markets have different commission rates. So this has to be part of your selecting and decision making process. When looking for the right product, be sure to check the commission rate. Once your niche market is decided upon, you look for matching products on website like Clickbank that promotes affiliate marketing. Once you have found a product you apply to be a promoter and wait till you have been accepted. Upon acceptance, you are officially an affiliate marketer and can get started.
Finding the perfect niche market will also help you to better market the affiliate product in turn earning more commission. It will also enable you to be more focused on the task at hand and evaluate the opportunity better. With the perfect affiliate product for your blog, you are more likely to be well versed with the sales pitch and encourage your audience to click that button. Zach Preston actually wrote a great post on “how to find a niche for affiliate marketing”.