What is Affiliate Marketing and How to Become a Super Affiliate Marketer
In this guide, I am going to cover what is affiliate marketing and how affiliate marketing works.
Apart from that, I will show why high ticket affiliate marketing plays a key role if you want to become a super affiliate marketer, earning 6 figures of annual income.
In the end, you will get a clear answer to the question “Is affiliate marketing worth it?”.
What is Affiliate Marketing?
A process utilized by an affiliate to earn commission by marketing products or services of another person or company.
Affiliates can simply pick any product that they like and promote it. When they make sales for that product through their efforts, they earn a portion of sales profit.
Affiliate links are used to track all these sales between websites.
How Affiliate Marketing Works?
Affiliate marketing works by spreading or sharing the marketing responsibilities for a product with multiple parties. It helps in leveraging the talents of multiple individuals and their unique approach towards marketing strategy.
In turn, the sales profits are shared with the affiliate for their contribution.
In order to make affiliate marketing work, three different parties are involved in the process:
- The Seller
- The Affiliate
- The Consumer
Relationship of these parties and how they play a part in making affiliate marketing a successful venture is discussed below:
A seller is a merchant, a vendor, a retailer, or a product maker who has an item to market. That item can be a product such as a household appliance, or a service such as a hair-do tutorial.
A seller can also be a brand that does not take an active role in the marketing of its product.
However, if they choose to advertise the product, they will share in the profits just like an advertiser would from the revenues earned by promoting and selling the product. Keep in mind that there can be more than one affiliate marketer for a single product sold by a seller.
They will both promote it and get paid according to their individual sales record tracked via affiliate links.
The affiliate marketer or the publisher is an individual or a company marketing the products provided by the seller in a way that appeals to potential consumers and encourages them to make a purchase.
In layman’s terms, an affiliate is responsible for persuading consumers of the product’s value by promoting its benefits. He convinces them to buy that product and with every sale, the affiliate stands to earn a part of revenue.
Affiliates have an audience to whom they market the product according to their interests. They attract consumers based on their personal brand to encourage them to act on the promotion and make the purchase.
Consumers are the ones in control of affiliate marketing.
The affiliate marketers only share the products with them on their platforms such as blogs, websites, and social media. But ultimately, it’s the consumers who decide to buy the product and the affiliate gains the sale profits.
An affiliate may or may not choose to disclose to the consumer that they would be making profits from the sales of the promotional product. Similarly, the consumer may be unaware of affiliate marketing and its infrastructure at all while making a purchase.
Regardless, the consumers are playing a major role in affiliate marketing, but they receive the products upon purchase as usual. They do not pay more for the product purchased via affiliate marketing.
The profit share of the affiliate’s efforts is included in the retail price of the product.
“According to Business Insider, 15% of e-commerce revenue can be attributed to affiliate marketing.”
How are Affiliate Marketers Paid for their Services?
To reiterate, affiliate marketing is an inexpensive and fast method of earning money without having to make the effort of selling a product. Affiliate marketing offers a reliable source of increasing online income. But the question is, how do affiliate marketers get paid for their services?
There are several ways through which an affiliate can get paid for the marketing services that bring in sales. There are various ways to measure the contributions of an affiliate towards the sales of a product. Depending on the program, an affiliate can get paid in three following ways:
1. Pay per Sale
This is the standard protocol for affiliate marketing. With this payment method, the affiliate is paid a percentage of the sales price whenever a consumer makes a purchase as a result of the affiliate’s strategies of marketing that product. It also means that the investors have to invest in the product before an affiliate is compensated for their efforts.
2. Pay per Lead
This is a little more complex method of payment where an affiliate is compensated on the basis of lead conversions. With pay-per-lead, the affiliate has to encourage consumers to visit the seller’s website and perform the desired action. This completed action counts as one conversion and can be making a purchase, subscribing to their newsletter, or simply filling out a form, etc.
3. Pay per Click
This system works by creating an incentive for the affiliate to make an effort on their marketing platform for directing potential consumers to the seller’s website. This means that an affiliate marketer has to engage a potential consumer far enough to make them visit the seller’s website from the affiliate’s website/platform. This increase in traffic to the seller’s website from the affiliate’s website is how an affiliate is paid.
What does it take to become a Super Affiliate Marketer?
If you are looking to become an affiliate marketer and you have your own platform to market the products at, the following suggestions can help you excel at it.
Build a Rapport
The simplest way to build an affiliate marketing career is to follow the interests of your target audience.
Customizing your campaign according to consumer interests makes it highly effective.
It not only increases your conversion rate but establishes your rapport as an expert in a specific field. It allows you to focus your promotional efforts on the people who are most likely to purchase the product you are promoting.
Make Things Personal
It is solely at your discretion to choose the products or services you want to market.
The ideal strategy here would be to market the products that you personally believe in or have used yourself. It makes it much easier for you to convince the consumers of the value of your product by sharing a personalized experience and increasing your conversion rate. This also benefits your personal brand reliability.
It will also benefit your goals to improve your email outreach and involve other bloggers and influencers in your network.
Review as Many Products and Services as Possible
[ An example of someone that made a youtube video reviewing 5 different drones and now is making money with every sale that is made through the affiliate links ]
Make it a habit to review any products or services that are similar to your niche.
Once you have built rapport for your brand as an expert, you can leverage it and guide your viewers/readers towards the benefits of buying the product promoted by you.
Everything sold online can be easily reviewed especially if there is an affiliate program.
Reviews help in comparing products by different sellers and allow you to generate more detailed and effective content that helps in boosting conversions.
Utilize Every Marketing Source at your Disposal
Affiliate marketing can be done on almost every social platform as well as through other platforms such as email marketing or marketing through blogs or Vlogs.
You can also make use of social media platforms to reach out to your audience and try cross-channel promotions.
It is a trial and error process to figure out the right marketing strategy for your specific niche. Any strategy that boosts your audience responses, stick to it but keep tweaking it to make further improvements.
Select your Campaign Carefully
Even if you have exceptional marketing skills, you may not be able to make as much money as you expected if the product you are promoting does not hold value.
Before selecting to campaign for any product, be sure to consider its demand and quality. Conduct product research before teaming up with a seller to back their product.
Marketing takes a lot of time and effort, so it would be prudent to perform your due diligence and select a product to campaign based on the profitability of that product.
Choose High Ticket Affiliate Marketing
High ticket affiliate marketing is a remarkable technique that is guaranteed to make good profits even with a smaller number of sales.
By incorporating this technique in your affiliate marketing strategy, you are effectively choosing to sell products that are guaranteed to give you a much higher commission on sales.
These high ticket products are generally fancy items or high-end luxury products for which the consumers are willing to pay a good price.
An affiliate marketer should aim for the high ticket products from a seller’s portfolio to promote through their platform for better profits.
Go with the Trends
Affiliate marketing has become quite competitive lately. Due to this innate competition in this field, you have to stay ahead of changing trends. Even the marketing techniques for affiliates keep changing.
So, you stand to benefit greatly by being a trendsetter instead of a trend follower. By monitoring your competition and trying out new strategies, you can guarantee an increase in your conversion rate and ultimately your revenue.
Is affiliate marketing worth it?
If you are contemplating the value of affiliate marketing and becoming an affiliate marketer, make use of the above-mentioned suggestions for becoming a super affiliate marketer and enjoy the immense benefits of successful affiliate marketing.
A lot of people are transforming their lives by building online businesses based on doing affiliate marketing.
Would this kind of business be a good fit for you? Let me know your thoughts on the comments below.