what is affiliate marketing

3 Major Ways To Make Money Online
Sell Your Own Product (eCommerce)
Sell Advertisements (Adsense)
Sell Other People’s Product (Affiliate Marketing)
What Is Affiliate Marketing?
Affiliate marketing is a business model whereby you (the affiliate) promote other people’s products to potential buyers. When a sale is made, you earn a commission.
Different Parties Involved in Affiliate Marketing
Creator (Seller, Retailer, Vendor, Merchant)
Network (Exchange, Marketplace) – This is Optional
Affiliate (Promoter, Publisher)
Consumer (Buyer)
5 Basic Steps of Affiliate Marketing
1. Pick a Niche
2. Identify A Product
3. Identify your ideal customer
4. Get Traffic
5. Conversion
#1 – Pick A Niche
A niche is a something that a group of people all have in common.
For example, many women and men interested in body art. Body Art is a niche not a wide common niche but still it is a niche where there are groups of people who like to talk, draw, love body arts
Evergreen Niche
Health, Wealth, Happiness related (Health and Fitness, Make Money Online, Relationships)
Hot Trend Niche
Soccer World Cup, Olympic, Cricket World Cup
Micro Niche
Sewing, Body Art
# 2 – Identify A Product
Must be in HUGE demand
Must be Competitive
Good Commission
Must be something you believe (Selling is a transference of feelings)
# 3 – Identify Your Ideal Customer
This is a critical step if you miss this one you can never succeed in online business for that matter in any business. No matter how good you are with marketing, you can not sell a burger to a crowd who just had a buffet.
# 4 – Get Traffic
Solo Ads
Pay per click (PPC)
Banner Ads
Video Ads
Blogging
Guest Posting
Webinars
Live Events
# 5 Conversion
Your Product (know your product pitch, angle very well)
Your Perfect Customer Avatar (who you are selling to)
Your Customers Biggest Challenge How Does Your Product Solve That Challenge? Map Out the Journey (Create Bond and Positive Expectancy)
The Benefits of Affiliate Marketing
1. It does not require a sizable investment on your part (the affiliate).
2. The affiliate (you) does not have to bother about customer service
3. bookkeeping and accounting, and refunds, since in affiliate marketing, the merchant (product owner) takes care of everything.
4. You are your own boss
5. You don’t need employees
6. This means you can get started today and start making money. …
And so much more
Lessons Learned
High Ticket Offer
Going after small commission products to promote, if you are starting out never ever do this in affiliate marketing. I can guarantee that this is the fastest way to give up affiliate marketing. Let me tell you, this works to ONLY I mean ONLY to people with huge lists because they are not spending a dime on marketing. So when they send this offers to their list they can make money and any money they make is a profit. When you starting out you don’t have a list all you’re doing is trying to convert your prospect into customer that is the most expensive sale you will ever make. So selling small commissions products is NOT even an OPTION.
Monthly Recurring Income
If you don’t have monthly recurring income stream as one of the income stream in your multiple streams of income in your online business, You are better off in your JOB. As this business requires lot of hard work, after some time you should be able to relax without worrying about your income. In order to get to that stage you need to focus on products that have monthly recurring income.
Systematic Process
In order to be successful you need to have the knowledge, tools and more importantly the sequencing. Most of you have the knowledge and tools but still not able to make it, because you don’t know when to do what for which you need a systematic process that guides you step by step.