Are you interested in making money while doing your own thing? If so, you should consider affiliate marketing. Affiliate marketing is a simple concept where you promote the services and products of another business through your website. You earn a commission when consumers purchase items through your site. The commission rate can be anywhere from 30% to 70%, depending on the item.
For example, let’s imagine you set up an online apparel business. Would start a blog where you talk about fashion. On those blog posts, you promote the clothing line you are marketing. When a visitor clicks on your link then buys the item, you make a percentage of the sale.
If you are interested in affiliate marketing, there are a few components you need to understand.
- Merchant: the merchant is the retailer of the product you list on your site. A merchant can be any supplier. They simply need a service or product to sell.
- Affiliate: an affiliate of is also known as the publisher. They promote what the merchant is offering and work to bring in prospective customers. Though a blog is a great way to do affiliate marketing, it is not necessary.
- Consumer: consumers are necessary for affiliate marketing to be successful. The affiliate must do everything they can to bring in consumers to the merchant’s website. Typically, affiliates use social media sites or another form of content marketing to advertise the products and services. Some affiliate sites are subtle, where others are more transparent towards their consumers. The transparent ones inform consumers that they receive incentives for their work.
If you are interested in affiliate marketing, you are not merely restricted to physical services and products. You can also market e-books. You can try Amazon Kindle or Click2Sell to get started with these. There are many companies wanting to promote their services and products. You can find some of them on the site ClickBank.
Revenue sharing is the basis of affiliate marketing. If your website receives a good amount of traffic, you can talk with retailers about monetizing your site through marketing their services and products. That way, your site works for you while you sleep.