What is Affiliate Marketing?
Affiliate Marketing is the business model where, a company pays commission to a third party for generating traffic or leads. The third party is called affiliate and the commission is a reward for the affiliate’s marketing efforts. In particular, an online affiliate’s job is to promote products or services and the company that sells the products or services, pays the affiliate a commission for his/hers efforts.
How Can I Make Money From Affiliate Marketing?
As I said before, you can make money from affiliate marketing by promoting products or services. In other words, the products or services will be provided by others and you will be acting as the middleman connecting customers to retailers or businesses. When a sale is made you will be getting a commission in return.
What Types of Products Can be Promoted?
Anything can be promoted, cars, kitchenware, shoes, sunglasses, tools etc. Services such as travel, life insurance, investment opportunities and others. In fact, some of the worlds leading retailers have created affiliate programs and they actually reward affiliate marketers for their efforts. Amazon, E-Bay, Walmart, Adidas and many others.
At the moment Amazon is the most popular amongst affiliate marketers. Its commission ranges between 4 and 15 percent.
Do I Need a Website to Become an Affiliate?
Not necessarily, but most merchants want to deal with established websites with a proven track record and a loyal following. If, you are serious about affiliate marketing, my advice to you is to build a website, with quality content. The content should also be relevant to what the site is promoting.
Nevertheless, if you have a strong social media following you can also earn affiliate income.
Is There a Cost Associated With Signing up an Affiliate Program?
No, there is no cost whatsoever. You can sign up for as many merchants as you like.
Do I Need an Affiliate Certificate?
No, you do not need a certificate, but I recommend before you become an affiliate to study as much as you can. Fortunately there is a lot of information on the internet. You need all the information and training you can get if you want to be successful.
On the other hand, merchants will reject sites that are racist, sexual explicit, promote violence, violate international property rules or even advocate radical religious and political views.
What are Affiliate Networks?
Networks are platforms and their job is to help affiliates to find a suitable program for themselves. In fact, networks act as an intermediary between merchants and affiliates. Networks supply the necessary banners and links for the merchant, they take care of tracking and reporting and they also handle commission payment set out by the merchant.
ShareASale, Commission Junction, Impact Radius, Rakuten, and Linkshare, are some of the well-known affiliate networks at the moment.
What are the General Rules in Affiliate Marketing?
The affiliate has the duty to let its audience know about their marketing activities and let the users know the affiliate gets paid to write product reviews. The product reviews need to be honest and accurate no matter what. You cannot write a positive review on a product you find worthless, just because you want to make money.
How Much Time Does it Take Before I Start Earning Money?
Well, that depends on the time and effort you put into your business. There are people who started earning commissions within a few weeks and there are people who took them years to do so. It is all up to you.
Clearly it all depends on yourself and your situation. If, you have more time available and you invest it into your business, then you will start earning money a lot sooner. If, you utilize the Wealthy Affiliate platform, then the average time needed to make your first commission will be between three and six months. That is, if you follow the training and take consistent effort. (There is no guarantee about that)
Thousands of people quit their jobs after the amount of money they earned with affiliate marketing turned out to be substantially higher, than the money they earned from their day to day jobs.
How Many Hours Should I Put?
If, you want to be successful in affiliate marketing you definitely need to put the hours. You need to treat this as a full-time job. Therefore, if you have the hours then you need to put at least forty hours per week. If, you already have a full-time job, then I am afraid you will need to spend most of your weekends doing this. This way you will be able to start earning within weeks or months and not within years.
Should I Pay for Affiliate Marketing Training?
Not necessarily, you see in today’s world all the information you need can be found on the internet. However, the internet is full of scams and false information.
If, you are a beginner who is committed to become a successful internet marketer, then you will need systematic and professional step by step training. If you don’t get professional training, then it is highly probable that you will quit before you see any results for your efforts.
Therefore, it is recommended to find proper training to ensure success. And unfortunately, proper training is not always for free.
Do I Need to Pay Tax?
That question is not for me to answer. You will need to seek advice from your accountant about that. I personally recommend to all affiliate marketers to have their tax issues sorted out, the tax authorities around the world are actually looking into online income right now.
I Want to Become an Affiliate, What’s Next?
If, you want to become an affiliate take look at my Wealthy Affiliate review the best affiliate training company at the moment.