Imagine this scene; someone makes a product, it sells, and you sit at home and make money. For every product sold, you earn a percentage of the profit, for doing absolutely nothing (well, not exactly nothing, but you get the idea). This is what affiliate marketing is all about.
It is 2020, a time when you no longer have to work tirelessly and go flat on your back before you can be rich. By simply pulling the right plugs, and staying in the know, you can make ten times more than the average white-collar job man. One of these right plugs is the affiliate marketing plug.
Very simply put, affiliate marketing is the process of earning a commission on sales by promoting products or services for their owners. Look at it this way; you see a product, you like it (or maybe you don’t), you see a potential market in it, then you promote it on your own platform and for each product sold from your platform, you make a part of the profit.
Parties Involved in Affiliate Marketing
Affiliate marketing is not a one-man’s job. Factually, affiliate marketing consists of four main contributors;
1. The merchant
This is the product creator. It can be a brand, a vendor, a retailer, basically the one who produces the product to be sold.
The merchant can be an individual, for instance an e-book writer willing to reach more people and make more sales. The merchant can also be a major company interested in making more sales of their products. Some merchants want to be involved in the selling process, while others do not. The important thing is that the merchant plays a huge role in the affiliate market, being the one with the product or service to be sold.
2. The Affiliate network
This is the connecting point between the affiliate and the merchants. It is through this network that the affiliate will be able to find programs in need of their services. Simply put, a merchant in need of an affiliate service can find a willing publisher via this network, and a publisher can find a merchant via this network. This way, the network, merchant and publisher all earn money.
For instance, eBay, Amazon and The Home Depot are all affiliate networks. Amazon is a very popular affiliate network notable for its promotion of consumer products like books, toys and household materials. One of the reasons for the popularity of Amazon in the Affiliate marketing sector is that the process required to become an affiliate through their platform is minimal. You only need to sign up, create a link to the products and then attach them to your platform. If someone purchases through your link, you get a commission.
3. The Affiliate
4. The consumer
This is another major part of the circle. After all, without a buyer, there would be no sales. Without sales, there will be no profits for the merchants, and no profits mean no commission for the affiliate. The consumer can be gotten from social media networks, billboards, blogs, and just about anywhere.
The affiliate decides on whether to reveal the marketing system of the product. Some affiliates are transparent and will openly tell their customers that they are making the sales for a commission, while others will keep that bit of information to themselves. Either way, when you can make sales, you will have a commission.
Websites for Affiliate Marketing
Benefits Of Affiliate Marketing
If there were no benefits for both the merchant and the affiliate, then discussing affiliate marketing in Australia this way would be pointless. If you are still wondering what the catch is (if more money does not seem like enough catch to you), then here are some extra benefits attached;
Here are some perks of affiliate marketing for the merchant
- A broader market: Where you cannot reach with your physical customers, or little online customers, a good marketer with the right kind of audience can get there for you. Imagine, for instance, that you produce and sell hair products, and you are affiliated with a popular hair blog that helps people resolve hair issues. After captivating people with their words, they have a starving audience, looking for solutions to their hair problems. What do you think would happen when the hair blogger leaves links to your products for the audience? Exactly!
- Boosted reputation: Being affiliated with a reliable site will relatively build your reputation, and everyone knows how important reputation is for a product or service seller.
- Increased traffic: Having multiple affiliations with reputable sites will certainly get the traffic to your page increased. This increased traffic can easily be converted to a potential clientele base.
What They’re Saying
Benefits of affiliate marketing for the affiliate
- Low-cost business opportunity
This is a very stress-free method of making some extra cash. You are simply doing what you do best, and making some money for it.
- No special skills/ expertise required
You do not need to have any extra skills except the obvious convincing skills. Also, most times, all the marketing materials you might need to make good sales are provided by the merchants and vendors.
- Limitless marketing strategies
There are no restrictions placed on you as an affiliate. You can put your links up on your blogs, your website, make a video on your Youtube channel and leave the link in your description box, whatever lucrative means you decide to use is fine, as long as you can pull the sales off.
How To Become An Affiliate Marketer
By now, you know how lucrative affiliate marketing in Australia can be. You have seen the definition, the parts involved, and the benefits for both you and your marketer. The next question is, how do you become an affiliate marketer? Do you need to be some sort of popular influencer? Is there a test you need to take? What exactly is required in this business?
Here, we have your answers. We have outlined four steps to take on this journey;
1. Review products in your niche
In whatever niche you operate, there are potential vendors. It’s just like the hair product example you saw earlier.
You can find your potential vendors on Youtube, blogs, or affiliate networks. This is an easy step because as a person, you have some preferred products you use for your niche, so you already know firsthand their benefits.
Once you get these vendors, you can talk to them for partnership deals, and if you are successful (and most times, you will be), then you can move on to the next step.
2. Build an email list with your prospects
If you are thinking; what, emails? Who still uses emails?
Then you probably need to make a research on email marketing and check the statistics.
Email was, is and will always be an excellent marketing platform. By collecting the email addresses of your prospective customers, you can reach out to them whenever you like instead of waiting and hoping they reach out to you.
Now that you have the emails, what do you do with them? Keep them engaged, supply important information to them, then subtly, but firmly (after you must have gained their trust to a level), send them your product links.
3. Be intentional about making sales
A live webinar is an excellent tool for sales.
You can plan a webinar for the product, inform people, get them to register and then go live on a set day. In this webinar, you can educate people about the product, give them more in-depth insights, and possibly show them a live function of the product. You can then discuss with your merchant and plan a discount for all the webinar attendees. And boom! Watch your sales grow.
4. Improve your affiliate marketing business
Once you get to a certain growth level, keep going.
There is always a new, more efficient way to make more sales. You can include paid ads to help your affiliate products reach a wider amount of target audience. You can also improve your SEO game, and consider Pay per Click (PPC).
In no time, you will be making more sales, getting more customers, spreading credibility and eventually opening more bank accounts.