The internet is full of wealth…not only a wealth of information but literally wealth in terms of dollars. You’ve heard it…read it…and you certainly want to take a part of this wealth that they talked about. Then you realized, you have no product or service to offer. Now that’s a real challenge and a major roadblock. NOT! The good news is that despite not having a product to sell or service to offer, it is still very much possible to make money online by selling other people’s products or service. This method is called Affiliate Marketing. You do make money by earning a certain commission from your sale.
There are a couple of types of Affiliate Marketing:
- Cost-Per-Sale (CPS) or Product or Service Affiliate Marketing
This is where you sell other people’s products or services and you get a commission out of it.
- Cost-Per-Action or Cost-Per Acquisition Marketing (CPA)
About few years ago, another type of affiliate marketing made its waves in the industry and now you cannot only make money when you make a sale but depending on the product you are promoting and the parameters required by the advertiser, you can also make a sale just by getting a zip code, an email address, a short form with address information (such as those home and insurance quotes).
If you want to get started in the world of internet marketing and making money online, affiliate marketing is definitely the way to go. Thousands of ordinary people all over the world are taking advantage of this and are making 5 or 6 figures just on a single product alone. Sounds like a great deal?
I must say that some affiliate marketing programs don’t really require that you have a website. There are different ways to promote them based on the policies set forth by the company. However, if you’re a blogger and you already have readership, then it just makes it a lot easier for you to market these programs.
Now, what are the advantages of Affiliate Marketing?
Affiliate Marketing is really a simple business platform. In fact, I do know of a few teenagers making 5 figures through this method. If they can do it, why can’t you, right? Other than the simplicity of the business model, here are few more of its good sides:
1. You don’t need your own product or service.
2. You don’t need inventory.
3. You’re not limited to a certain number of products.
4. You’re not limited to a certain niche.
5. Requires no huge financial investment to get started.
3 Simple Steps to Get Started in Affiliate Marketing
1. Join an affiliate network.
An affiliate network is a company that has a relationship with the advertiser or owner of the product or service and the affiliates. It is important to find a dependable and well-established affiliate company because after all, they have the money from the advertiser to pay you and you don’t want to lose that if a company folds.
2. Find the product(s) that you want to promote.
Not all products are created equal. There are definitely some that you will find more profitable than others. It is important to look for a product that not only will bring you in the cash but also one that you believe in.
3. Create a strategy in promoting the product(s).
Although in affiliate marketing what you’re promoting is not entirely yours, you must still treat this as your business. With that said, even with your own products and services, you have to promote them to get the word out there, drive traffic, and generate sales. This holds true for affiliate marketing. No traffic to the product, no leads, no conversion, no sales.
In this series, I will be elaborating on the 3 steps above so stay tuned…