Today we reached on day 16 of 60 Days Blogging Challenge.
If you are new to the blogging world or have been there for a while but still haven’t made a handsome income through advertisements then this post is definitely for you.
Don’t get us wrong, advertisements are a great way to monetize your blog, but to level up higher you will seriously need to consider the advantages of affiliate marketing. Today we will give you an insight on How to earn money while sleeping on the island of Affiliate Marketing.
What is Affiliate Marketing?
Affiliate Marketing is a type of marketing in which you promote products and services of other companies by referring someone to buy it and whenever the person buys that product you earn a fixed commission on that.
To explain it better take the example of a salesman –
You have seen a salesman selling products by going door to door. Whenever you buy any product from them they get a fixed commission for every sale you make.
Affiliate marketing is almost same as a working of a salesman. The difference is that in Affiliate marketing you are doing it online. You are only promoting products and services of a particular company. You are just a means of communication between the consumer and the vendor.
People involved in Affiliate Marketing –
There are three types of people involved in affiliate marketing –
Now understand these people and how they work together.
Let X be the Advertiser, Y be the Publisher and Z be the consumer.
X runs an e-commerce website for selling shoes and wants to grow his business. So he joins an affiliate network as an advertiser.
Y has a blog about shoes. He wants to earn some extra money and hence he joins an affiliate network program as a publisher.
Y joins X’s affiliate program and puts the banner of the X’s shoes on his blog by writing a article about it.
Z visited Y’s blog and loved the article. He decided to check X’s store.
Z visited X’s store and decide to purchase the shoes. He purchased the shoes.
X got a sale and Y got his commission for the sale.
How does affiliate marketing work?
The steps involved in Affiliate Marketing are –
- The first step is that you need an online platform for that. You can use your blog, your personal website or even market through email from where you can reach out to people.
- You have to contact the companies that offer an affiliate program. Almost every company’s website has a designated page about their affiliate programs.
Choose companies whose product or service you’d like to recommend and then join their Affiliate Program.
- Go to their website and sign up for their affiliate program by giving relevant details of the platform you will use to promote their products or services.
- The company will take some time to approve it and once done you are ready to go.
They will provide their own affiliate link to the particular product or service.
Affiliate Link to the product is unique for you.
- Next step is how you are going to use that link.
You might do this by writing a post on your blog about the product or services. In between the post you include a special link to the product or services so that your readers can check it out for themselves. You can do this by adding a button or image to your post which will redirect it to the given link.
- Now whenever any people click that link to view that product and decide to buy that product.
- If the purchase is complete. You will earn a fixed commission on that product.
So this is how the affiliate marketing works. Now you must be thinking how the affiliate programs track visitors who click on affiliate links.
This is known as Affiliate Tracking.
It’s a process of managing and tracking the information about the sales, conversions and clicks from affiliate websites. It is done to track the performance of owner of affiliate networks in order to measure who are generating traffic and to give proper compensation and rewards to the participants of an affiliate marketing group.
There are many Affiliate Tracking Software available depending on different business purpose. It can manage your entire affiliate network program.
The affiliate tracking software keeps track of these programs –
- CPC (Cost per Click)
- CPA (Cost per acquisition)
- CPM (Cost per impression)
- CPS (Cost per sale)
- CPI (Cost per Install)
What are Cookies?
Cookies are small text files that are sent by the website when you visit them through your browser. It stores information like login or registration information, shopping cart information, visit duration, IP address, the affiliate ID from the link you clicked, date and time of visit etc on a visitor’s computer to track information about the visitor.
In affiliate marketing, cookies help affiliate programs to track visitors who click on affiliate links, conversions and calculate overall return on investment (ROI) of your affiliate marketing campaigns.
How Does Cookies Work?
Whenever someone visits your website and click on the affiliate link that you have used on your website referring to a product. A cookie will be sent to the visitor’s computer to track the information whether the visitor purchased that product or not.
If they will purchase that product affiliate marketing software will detect it and hence you will get a commission on that.
Each cookie has its expiration date. It may range from 1 day to 90 days depending on affiliate network program.
For example – Lifetime of cookies of Amazon affiliate Program is of 24 hrs whereas cookies of many hosting service provider companies have a lifetime of 90 days.
Cookies will be stored in the visitor’s computer for the specified days by the affiliate network program until and unless the visitor doesn’t clear their cookies in the web browser.
So if the visitor will buy the product through your affiliate link within that expiration date then only you will receive the commission.
Why you should go for Affiliate Marketing?
Now you must have understood that affiliate marketing can generate passive income for you.
It can make money for you while you sleep. You don’t have to go to door to door like a salesman to sell your product and get the commission on it.
It’s just a onetime setup and also simple to get started. You just have to write good contents by building your own website or campaign and it will generate money for you.
That’s why it is so awesome.
Even you are not limited in your area. Since everything is online anyone across the world can visit your website and use to affiliate link to buy products or services. For this, you just have to work on reaching a lot of people.
Important points you need to know about Affiliate Marketing –
- Always use affiliate program of the products that are related to niche your blog.
For example: If you have a blog related to tea then use affiliate link of only products related to it.
How to start and find an affiliate link for any product?
Affiliate Marketplace are the best place to start with. Its a hub for finding merchants. It connect advertiser with the publishers like you.
They are free to use. You can register and search for the affiliate program according to your niche products there.
Few Affiliate Marketplace you can join –
These are the few affiliate marketplace that you can join and select merchants according to your niche.
- Impact Radius
- CJ Affiliate
You can join Amazon affiliate program which is one of the most famous affiliate program. If you own a blog where you are providing reviews about any product, you can attach a button having affiliate link to the product.
For example – There are many youtubers who reviews products or services. You have seen them providing the link to each and every product under description section. This link is nothing but the affiliate link to the product.
Now at this point in time, you all have understood what affiliate marketing is and how it works.If you still have any query regarding it feel free to contact us or drop a comment below.
So this was all for today.
We will see you guys tomorrow in the next post. Till then
Stay Smart and Keep Webbing!
Read about: Day 17 of 60 Days Blogging Challenge: The Truth about Blogging, Marathon and Success
Read about: Day 15 of 60 Days Blogging Challenge: 11 Powerful Tips to Create Tempting Headlines