Affiliate Marketing is a popular source for generating income from the blog, social media and other high authority sites. It is the easiest way to monetize the blog or website and make money online. In this Affiliate Marketing guide, learn its meaning, working and process to earn money through it. Now let’s understand its meaning in detail.
What is Affiliate Marketing and How does it Work?
Affiliate Marketing is a channel of making money by promoting the products of advertisers and earning a commission based on an online model. Advertisers upload their products or services on the Affiliate Network. An Affiliate Network is a bridge between an advertiser and affiliates as they choose the products and promote them on different channels of marketing to make money. Advertisers can also contact affiliates or bloggers to promote their products and earn a share of profit through each sale or lead they generate for them. Here is the pictorial representation of this process.
How to Make Money with Affiliate Marketing for Beginners
Here is the step by step process for beginners on how to make money with Affiliate Marketing.
Step 1- Create a website or a Blog
The first step of this affiliate marketing guide is to create a website or a blog. Although products can be promoted by social media or other marketing channels, a blog is the best way to make money. Nobody likes direct promotion and through the blog, you can make the audience understand the utility of products. Think about your favorite topic or hobby and create a site today on India’s best and affordable hosting platform. For an instance, if you like traveling and adventure then create a travel blog and promote the products related to travel. Must check How to make a website and make money.
Step 2- Choose an Affiliate Network
Depending on your niche, choose the right Affiliate Network which you can relate to your site. Here is the list of the five best Affiliate Networks which have a wide range of products or services for promotion.
Step 3- Join Affiliate Network
Almost all the affiliate networks are free to join. First of all, you have to apply for Affiliate Network by filling sign up form. They will then approve your registration if they think you fulfill their criteria. Once your account is approved then you can select the payment options such as Payoneer, PayPal or direct transfer. Payment option should be selected properly as single penny matters to you when you receive money. Check Why Payoneer is the best Online Payment System
After filling the payment details, you can start promoting the products on your site or social media channel.
Step 4- Select Online Ad Model
There is mainly six type of online Ad models in Affiliate Marketing. Based on your site niche, you can select the right online Ad model to make money.
1. CPA or cost per acquisition- It means an amount paid by an advertiser to an affiliate for specific action or acquisition such as lead, newsletter sign up, sale etc.
2. CPS or cost per sale- It is the amount paid to an affiliate for the sale of the product. Advertiser gives a certain percent of a commission to an affiliate for the sale. For an instance, advertiser sells a product at 100$ and can give 40% commission i.e. 40$ for each sale.
3. CPL or cost per lead- It’s an amount earned by an affiliate for each lead he provides to an advertiser. Suppose a sign-up form is filled through affiliate promotion then a fixed amount is paid by an advertiser say 5$.
4. CPC or cost per click- It’s an amount paid to an affiliate for every click to the banner or a link.
5. CPI or cost per install- It means the amount is given to an affiliate when someone installs an app on the smartphone or mobile devices.
6. CPM or cost per mile or cost per thousand impressions- It is the price earned by an affiliate for 1000 impressions of an ad.
So choose the right online ad model and promote it to earn money online.
Step 5- Product Promotion
This is the most important step of this affiliate marketing guide. Select the right products or services and an online ad model to promote them on your blog or site. Choose the prominent position on your website where there is maximum visibility. Add the code for promoting banner and start earning money based on an online ad model. Sidebars are the good place to add the banner. But the best way to make money online is to write a post explaining utility and benefits of products or services and add links on a banner inside the post. This is a natural way to add links and thus maximize the chances of making money online. It’s recommended to use cloaking for affiliate links so that Google doesn’t penalize your site. Promote your posts or affiliate links on the social media channels such as Facebook, LinkedIn, Twitter and other authoritative sites.
Step 6- Measure Your Success
The last step of this affiliate marketing guide is to measure the results of affiliate marketing to know the strategies which are working and which aren’t. It is important to study the reports and plan the affiliate marketing plan to make money online. Google Analytics is the best tool to know the type and activity of audience to your site. According to the audience based on gender, age and interest, you can promote the products or services. This way you can maximize your earnings by promoting the right products to the right people.
I hope this affiliate marketing guide will help you to make money online by using right tactics of marketing.
Over to You
Now that you know about making money through affiliate marketing, create a blog today and start earning a handsome income.