A sharp businessman always knows that there are a lot more ways by which they can increase the reach of their business. One such way is to discover another source of income. This doesn’t state that they have to develop another business, but to discover methods to grow their current business.
One way of increasing a business’s audience is affiliate marketing.
Affiliate marketing is a method in which business owners pay commission to people or companies for marketing their product via internet.
Methods to earn money through affiliate marketing
1. Doing affiliate marketing via internet services.
Various internet services have been developed to help people in maintaining their businesses. Some internet services like Clickbank, Amazon Associates and others, help people in earning via affiliate marketing.
Clickbank: It is a famous e-commerce website. To do affiliate marketing on ClickBank, you are required to follow some steps.
- Develop an account on ClickBank
To create an account on ClickBank, you need to enter your details like email, phone number, full name, country and etc. After this enter your bank details. Do not forget to enter your correct tax ID as by entering an incorrect one, you can get in trouble in the future.
When you have entered all the information, ClickBank would ask you to agree to the terms and conditions of their company. You can read these if you want to.
- Entering your products in Clickbank
Clickbank offers a wide range of products to its customers. Choose the category that suits your product. While you are entering a product, you will be provided with a promote button. Pressing this promote button would generate an affiliate link for the listed product.
- Payments
Clickbank provides each user with all the commission details of their products. If you wanted to be paid by check then you will need to wait for 2 weeks else you can receive payments via direct deposit in one week.
Amazon affiliate program: Amazon is the biggest e-commerce website in the world. Apart from being an e-commerce website, amazon provides various other services like amazon prime, web service, an affiliate program and others.
- How to become a part of the amazon associates program?
It is a simple process and you are needed to follow some steps.
- Develop a blog or website
While creating your website, keep in mind what is the purpose behind this website, what audience are you aiming for and how you will gain the attention of this audience.
You need to create a website, where you can list your products. If you have a previous website, that has gained the interest of the users, then you can get a head start from amazon.
- Go to the amazon associates website
Once you have developed a website, go to the amazon associate’s main page. Here sign up for an account
- Enter details
If you do not have an amazon associates account before then you need to enter some details of yours. These details will be your email address, phone number, country and other details.
Once the personal details are entered, put in your account information. State the name, phone number, tax ID of the payee.
After this enter the address of your website.
- Explain your aims
Enter your store ID (it is the same as your website address. Explain what goals your website wants to fulfil. Also, select the category in which your products fall. Mention the ways by which you will attract users to your website.
- The payment modes
The second last step of this process is to choose your preferred payment method. You can either choose a credit card or via cheque.
- Developing affiliate links
Once the entrance of details and selection of payment mode is done, you will be taken to a personalized dashboard. From here you can post your products and generate affiliate links to them. You will be provided with all the details regarding the progress of the products.
2. Marketing via social media
Social media is a powerful tool and is responsible for the success of many businesses.
When you have developed your affiliate links, you would need to market them on various social media websites like Instagram, Snapchat, Facebook and etc, as these platform help in attracting an audience towards your website.
Instagram: This is one of the biggest social media platforms that exist today. There are some requirements that are needed to fill to do affiliate marketing on Instagram.
- Choose an affiliate network
To do affiliate marketing on Instagram, you would need an influencer or you can join an affiliate network.
An affiliate network will provide you with a detailed report regarding the progress of your product.
There are various affiliate networks like pepper jam, AWIN, Rakuten and others.
- Set a pay
Now you have required the set a percentage of pay for the influence or the affiliate network that will market your products.
You need to analyze certain factors like profits, pay rate set by competitors and others before you develop a commission for your promoter.
- Develop an attractive affiliate program
You should create a simple affiliate program. If your program is complex then most influencers and affiliate networks will not work with you unless the pay rate is high.
You can create a simple affiliate program by explaining all of your aims using simple English. Such programs attract lots of influencers and motivate them to work hard to promote your products.
- View your stats
You need to keep an eye on the progress of your products. If the report is not going in a positive direction then you can talk with your promoters and develop strategies that help you in gaining success.
Final thoughts
Affiliate marketing is a technique that should be by every business. It may come with a cost but provides lots of benefits in the long run. If you have not made the addition of this program to your company, do now and cherish the rewards.
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