Affiliate Marketing ~ An Extremely Effective Way to Earn Online

Affiliate marketing is an aspect of internet marketing that has seen rapid growth throughout the past decade. As it continues to grow, especially as a result of the Covid-19 pandemic, affiliate marketing is set to continue generating revenue for those able to get involved seriously.

There’s no doubt that affiliate marketing is here to stay. The affiliate marketing industry is set to hit the $8 billion level by 2022, nearly double what it was worth in 2015.

Affiliate marketing is an extremely effective way to earn an income online, drive sales for the manufacturers and increase brand awareness for the retailers. I’m going to discuss how affiliate marketing can work for you in 2021, where the industry is going over the next five years and how you can get started as an affiliate marketer.

How Does Affiliate Marketing Work?

It is unique in internet marketing techniques because it operates as a distributor based system. That means that manufacturers spread out the responsibility of promoting products or services to third parties, i.e. you and me. Your reward is a share of the proceeds of the sale.

Typically, there are three parties involved in the process, each of these are vitally important and must be understood so that you get a clear picture of the technique.

1. The manufacturer/creator: Often known as the vendor, the manufacturer/creator is a business or brand that offers a product or service and shares income with affiliates.

2. The affiliate: The affiliate (you and me), is a business or individual who promotes the creator’s product or service and receives a share of the income of each sale made through the affiliate programme.

3. The consumer: The consumer or customer is the person who buys the product or service via the affiliate marketer’s promotion media, typically a website.

Before I go further, a word of caution. There are no rules or regulations that make affiliates disclose their relationship with the seller. Many affiliates aren’t always upfront about the relationship they share with the vendor but I firmly believe that you should disclose your position*. Why? Repeat business!

Consumers will trust you more if they know from the outset that you are earning from their purchase BUT it is important to explain that they are not paying more than shopping direct.

Products or services purchased via affiliate marketing typically cost no more to the consumer than they otherwise would by any other channel. The sales commission is calculated into the retail price of the product or service.

How Do You Get Paid As An Affiliate?

Affiliate marketing programmes can differ considerably. In general, though, there are three payment structures. Which one you choose depends on your personal preference.

a. Pay Per Click (PPC): You are paid a flat rate for every individual that you direct to the provider’s website.

b. Per Lead: You are paid for every prospective customer who visits the provider’s website and performs a desired action, such as signing up for a mailing list or a free trial.

c. Per Sale: The most common of the three payment structures, you are paid a simple commission, generally a fixed percentage, of every sale via your unique affiliate link.

How To Get Started With Affiliate Marketing

Are you a content creator or influencer with a growing audience? Are you a lifestyle brand, e-commerce store or small business looking to drive more sales? Are you an individual looking for an alternative to traditional income generating methods, i.e. employment?

Whichever you may be, affiliate marketing is a safe bet for the 2020’s and beyond. Here’s how to get started:

i. Like anything in life, if you want to do something, you have to learn ~ you went to school, didn’t you? The best place that I know of and highly recommend is Wealthy Affiliate. Why? I’ve tried a lot of different programmes over the years and WA is the only one from which I have mad and continue to make a solid, regular income.

ii. You’re already a content creators but not making a money from your efforts. To get the ball rolling, sign up for the free Wealthy Affiliate account. You will quickly learn how to monetise your blog and, when it comes to affiliate marketing, how to find products relevant to your topics.

iii. Stores and manufacturers. If you already have a product or service ready for sale, you can start by promoting your offerings from the teaching at Wealthy Affiliate, then launch your own affiliate programme to promote your product/service. Affiliate marketers can hasten the process of putting you in contact with new customers on a global basis.

Affiliate Marketing Is A Safe Bet In The 2020’s

So no matter what your position, you stand to gain from the power of affiliate marketing. There’s a bright future for affiliate marketing in the years ahead, so be part of it, learn how to go about it at Wealthy Affiliate.

By working with a seller, affiliate marketers can gain a passive and highly lucrative income stream. Affiliate marketing is a proven clear win-win business, just commit yourself to the learning and the comprehensive training at Wealthy Affiliate and you can’t lose.

* As a longstanding member of Wealthy Affiliate, I am now an Affiliate, so should you take up my offer I will be paid a small commission. This doesn’t increase the cost to you, in fact you can start for free, which I highly recommend. The free account offers a lot of value, it’s not a teaser.

Additional reading: Four Free Business Tools For Affiliate Marketers

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