What Is Affiliate Marketing?

by Elizabeth Redd
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what is affiliate marketing

Affiliate marketing is the marketing strategy of the future. ‘Affiliates’ promote a product that they love and earn commission from the sales conducted from their affiliate link. Essentially, the affiliate promotes another person’s product and earns a portion of the sale. These portions are normally a set percentage.

How Does It Work?

This marketing strategy works because the affiliates are promoting products to their readership or followers. The affiliate understands their readership’s interests or niche. An affiliate can use this understanding to promote products that their readership will be attracted to.

Affiliates may disclose that they receive a profit from the sales made through the link, or they may not. The decision is completely up to them. Either way, when an affiliate’s reader, or follower, follows the link to purchase the marketed product, the affiliate will receive a portion of the sale.

The Benefits of Affiliate Marketing

There are quite a few benefits to affiliate marketing. Once you obtain a solid readership, you can easily market the products that you believe they will enjoy. Marketing products that your following will deem useful or enjoyable will allow you to earn a larger income.

Performance Based Income

The amount of money that you earn for marketing products is completely up to you. The system is entirely performance based. You will not earn an hourly wage for the time you put into marketing the products. Instead, you control the amount of money you earn. The more persuasive you are and the harder you work, the larger the number of sales you will generate.

No Financial Risk

As an affiliate, you will never be required to invest in the companies that you promote. In fact, becoming an affiliate is free. Most companies require you to provide them with information about yourself and your audience, then they make you an affiliate. You will continue to affiliate for the company provided that your marketing generates sales.

Affiliate Marketing is Easy

Another benefit of affiliate marketing is that it is easy. The merchant will provide you with the tools you need and the affiliate links. You will not be responsible for shipping, preparing, or manufacturing any goods. The only thing you need to worry about is marketing the goods and persuading your following to purchase them.

The Downsides of Affiliate Marketing

It’s important to understand the downsides as well as the benefits. Affiliate marketing can allow you to create a little bit of extra income, or it can provide you with a six figure salary. It depends on the amount of time and work you are willing to put into it. However, it’s important that you consider the downside of affiliate marketing before you begin.

High Competition

At the beginning of this article, you read that affiliate marketing is the way of the future. This marketing strategy is on the rise and many merchants are turning to affiliate marketing completely. That is because this form of marketing is cost-effective, efficient, and requires no work from the merchant. However, the easy availability of merchants to market drives competition between affiliates.

Merchant Success

As an affiliate, you need the company to be successful. The products you market need to sell. If the company or product is unsuccessful, your role in this marketing strategy will not exist. An affiliate can not exist without a merchant. This downside can be avoided by ensuring that you work with a variety of merchants and products.

what is affiliate marketing

What to Consider

Once you’ve decided to become an affiliate, you will need to decide which merchants to work with. There are few different factors that you will need to consider.

Types of Products

When selecting who you will become an affiliate for and which products you will market, you will need to consider your readership’s niche, or interests. Ask yourself the following questions. Does the merchant sell products that my following will want? What kind of products would my readers be interested in? Once you know the answers to these questions, you can select merchants that sell these types of products.

Commission Rate

As an affiliate, your job is to sell the merchants goods. The portion of the sales that you earn is determined ahead of time. Research the merchant and discover what they offer in terms of commission rates.  The amount of money you earn is based on these rates. A higher commission rate is more money in your pocket per sale.

Availability

The final thing you will need to consider is the merchants availability and offerings. Determine whether the merchant conducts business in your region or country. If the merchant does not ship products to your region, it is unlikely that your following will purchase the items. Sometimes, the merchant may ship products to your region, but not send money.

what is affiliate marketing

How to Become an Affiliate

If you’ve completed this article and still want to become an affiliate, there are countless resources that can help. The following resources offer incredible assistance to anyone starting out as an affiliate. These resources can assist you in generating leads and marketing products more efficiently.

HBA Funnel Builder

This tool will assist you in discovering new leads. The tool will also help you follow up with these leads. The HBA Funnel Builder is an invaluable resource. The training videos offered can teach you everything you need to know about generating leads and closing the sales.

Freedom Launch Pad

Freedom Launch Pad is another great resource. The resource is geared towards assisting you in achieving your financial goals through affiliate marketing. The tool provides you with incredible information that can assist you in efficiently marketing your products and earning income more quickly.

HBA Premium

HBA Premium is a more in depth approach to teaching affiliate marketing. The resource will walk you through the process of becoming an affiliate and thoroughly explain what you need to do. This tool can help you earn larger commissions and create more sales.

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