If you’ve been wondering what affiliate marketing is and how it works…
This post is for you!
Because in this post, I break down everything you need to know.
Even more:
You’ll also discover how to get started with affiliate marketing in 2024.
You ready?
Let’s boogie…
What Is Affiliate Marketing & How Does It Work?
Affiliate marketing is the process of selling other people’s products, then earning a commission for each sale referred by you.
When you promote products as an affiliate, you’ll be given an affiliate link.
That affiliate link is unique to you, and when people click that link and buy, you’ll be credited for the referral:
There are several parties involved with affiliate marketing:
The Merchant
The merchant is the product creator.
This can be an individual, small business, or even a large corporation.
The Publisher (Affiliate Marketer)
The publisher (you) promote the merchants products by publishing content.
Content is how you’ll attract potential customers and promote affiliate products.
The Customer
Your goal is to get as many potential customers clicking your affiliate links as you can.
Then when they buy, you’ll be compensated for the sale.
There are several affiliate marketing terms you need to understand too.
Such as:
Affiliate Program
An affiliate program is an arrangement where a company pays you for referring customers i.e affiliate marketing. (You refer customers, then generate commissions via their “affiliate program.”)
Affiliate Network
An affiliate network is a platform where merchants go to make their products available for affiliate’s to promote.
Affiliate networks house many different affiliate programs, across many different industries, all in one place.
Affiliate Link
An affiliate link is a unique link you’ll be given anytime you promote a product.
All clicks and sales to your affiliate link are tracked back to you.
You’ll be given a different (unique) affiliate link for each product you promote.
To sum that all up…
=> The affiliate joins affiliate networks to find products they can promote.
=> When they find a product they like, they’re given an affiliate link.
=> That affiliate link is unique to that specific affiliate, and that specific product.
=> The affiliate then creates content (usually in the form of blog posts) to attract potential customers, and sell the affiliate product.
=> The affiliate network tracks all clicks and sales, and the affiliate receives a commission every time they refer a customer.
Here’s an example of a blog post being used to promote an affiliate product:
In that post, ConvertKit is the affiliate product being recommended/promoted.
How Do Affiliate Marketers Get Paid?
There are different ways to get paid as an affiliate marketer.
Here are the most common:
Per Sale
Where you earn a set percentage of the product’s sale price anytime you refer a customer.
Per Lead
Here, you’re paid for referring leads instead of sales.
Per Click
With this model, you earn a commission each time someone clicks your affiliate link, regardless of whether they purchase or not.
Pros & Cons Of Affiliate Marketing
Pros:
Low Start Up Costs
Not much is needed to get started.
All you need are a few affiliate marketing tools and you’re good to go.
Flexibility
You can do it full time, or part time.
You can do it from home, or anywhere in the world.
It’s a very flexible business model.
No Customer Support
You don’t have to provide customer support to the customers you refer.
The merchant takes care of this.
Passive Income
You can eventually get to a point where you’re earning passive income from your affiliate marketing efforts.
Scalable
You can scale your income to 6 or even 7+ figures per year.
There’s no limit to the amount of money you can make.
Cons:
Initial Learning Curve
Before you become an affiliate marketer, there’s quite the learning curve in the beginning.
Highly Competitive
More and more people are getting started with affiliate marketing.
This makes it highly competitive, and harder to “stand out” and generate commissions.
How to Get Started With Affiliate Marketing
The best way to get started is to create a website, then promote affiliate products via blog posts.
Here are the steps to get started:
Step 1: Choose a Niche
You need to choose a niche market you would like to operate in.
However:
You need to ensure you choose the right niche.
A niche where money is being spent, and that’s evergreen.
Check out this post which highlights the best niches for affiliate marketing.
Step 2: Find Good Affiliate Programs To Join
There are many different affiliate programs available.
There are good ones, and there are crappy ones.
These are the best affiliate programs for beginners that offer top quality products.
Step 3: Create A Website
Your website will be your “place of business” online.
You’ll use your website to create content, attract an audience, and to sell affiliate products.
And in this post, I show you how to create an affiliate website step-by-step.
Step 4: Do Keyword Research
Keyword research is the process of researching what keywords/phrases your audience types into Google.
This is a crucial step if you want to be successful.
Here’s how to do keyword research for affiliate marketing.
Step 5: Create Engaging Blog Posts
Blog posts are created to attract an audience, and generate sales.
But not just any old blog posts.
High quality, engaging blog posts that actually help your audience.
Take a look at this post to learn how to write an affiliate blog post your audience will love.
Step 6: Get Traffic With SEO
SEO stands for Search Engine Optimization.
It’s the art of optimizing your blog posts so that Google ranks them high in their search results.
Read this post to learn everything you need to know about SEO.
Affiliate Marketing FAQs
Is Affiliate Marketing Legal?
Yes it is.
That’s why companies like The NY Times leverage affiliate marketing too.
Be mindful though.
Because there are affiliate marketing scams you should be aware of.
Is Affiliate Marketing Worth It?
If you’re willing to put in the time and effort that’s required, then yes, affiliate marketing is worth it.
How Much Money Can I Make As An Affiliate Marketer?
There is no limit to the amount of money you can make.
The sky really is the limit.
Can You Really Make Money With Affiliate Marketing?
Yes, absolutely!
Just remember though:
It takes hard work and commitment.
You won’t see success overnight.
Conclusion
And there we go.
What affiliate marketing is, and how it works.
Affiliate marketing is a great way to earn an income.
It’s scalable, flexible and very lucrative.
And according to these affiliate marketing statistics, it’ll remain that way for many (many) years to come.
Now, over to you…
“Are you ready to start your affiliate marketing journey?”
Leave me a comment and let me know.
I’d love to hear from you!
