Affiliate marketing defined is when a business provides commissions to another business or person for assisting in the sell of a product or service. There are a lot more fancy definitions out there, but this is the easiest way to put it. But, let’s think about a good affiliate marketing example to drive home the point. Then I will give you some information about affiliate marketing that you might find useful.
An affiliate marketing example would be if you owned an online gadget store. You have a nice website, great items for sell, and you feel good about your business future. However, you have no traffic to your website. No one is seeing your fancy-pants gadgets, and you realize that you may have to put more time and/or money in to getting people to notice your online gadget store.
So, instead of investing money upfront, you chose to do affiliate marketing by informing other website owners that you will give them a 5% commission for any customer that they send to your website who purchases an item. In this affiliate marketing example, there is a win-win situation. Affiliate marketing is a win-win situation. You sell your gadget that you otherwise was having a tough time selling, then those who find customers for you shave a small percentage off of a profit that you otherwise would not have.
Affiliate Marketing Defined – Profits
In the affiliate marketing example, both sides of the fence stand a lot to gain financially when it comes to affiliate marketing. The person selling the product gets low-cost leads and the person advertising gets commission. If you keep reading, I want to focus on the affiliate marketer.
The affiliate marketing definition here focuses on a relationship between a person advertising, a person with a product, and potential buyer. The person advertising has the easiest job, in my opinion.
The buyer has money to give up, and the seller has sleep to lose that sh/e does not have enough buyers. The middle person needs to passively provide potential buyers to the seller. Simple! So, imagine yourself in this relationship. Could you become an effective affiliate marketer? And how much money would you stand to gain?
Benefits of Affiliate Marketing
There are some bunch of benefits of affiliate marketing. It takes work, but the gains can be massive. Most are able to supplement their income, while others are able to replace their current jobs through affiliate marketing. With that in mind, here is a lists of the benefits:
- You can literally begin affiliate marketing the day you decide you want to do it.
- You can start affiliate marketing for absolutely free.
- There are low-cost options to educate yourself and enhance the speed and amount of profits you make.
- You are your own boss doing something on your own time.
- The number of businesses you can affiliate market for is endless.
- You have access to marketing brokers like ClickBank and ShareASale that link you to the products and services.
- Affiliate marketing allows you to earn money 24/7.
- Your life can change with extra income.
How to Begin An Affiliate Marketing Business?
Step #1 – Find Your Passion – Beginning an affiliate market business is simple to do. The most important step is deciding the types of products and services that you want to market. The way to choose that is to think about those things in life that you are really good at or that you have passion doing. Think about what your friends and family call you about the most when seeking advice. That is probably the area you should market in because you are an expert or love doing it. If you need help figuring that our, read our post about finding your passions.
Step #2 – Start Your Blog – Once you understand what your area or marketing niche should be, you simply need a website or blog to start affiliate marketing. Years ago, it would take a lot of time, effort, and money to create a website or blog. Now, it is super cheap, and you are able to set up in under 30 minutes, even for a newbie. So, go for it it. Start today. Our post about earning money affiliate marketing is a great resource with more details.
For your blog or website, there is a saying that content is king. What this means is that if people are going to buy products or services through your website or blog, you must give them good, high quality content. There is no way around this. Again, think about what family and friends call you about. Write stories and share information about those times they called you and the advice they gave you.
At that point, you are giving that same advice and sharing those experience with readers. This develops trust with them, and they are likely to click on your affiliate marketing offers.
Step #3 – Connect To Affiliate Marketing Brokers – The next step will be connecting with affiliate marketing brokers. Again, this is very easy to do and you can have links to products and services in minutes. Remember, affiliate marketing defined is a type of business relationship. The brokers connect you will links, tools, banners, and scripts that you can add to your website or blog through copy and pasting. After you complete that, you can watch the impressions, clicks, and hopefully sells come rolling in.
Step #4 – Engagement – As readers visit your site, make sure you engage them. Answer their questions, solve some of their issues, and give them the content they are looking for. This will work wonders for those readers to keep coming back to your website or blog. Also, engage other websites and blogs by leaving comments there. It will help get our name out on the internet in a positive way.
Step #5 – Be Patient – It may take a few weeks for your blog to be discovered. Be patient, write great content, and keep going. I have made the mistake 6 different times of giving up on this type of passive income because I wanted results overnight. Very few things of value happen overnight. So, if you put 20-30 minutes per day on your blog, that effort builds up to passive income over time. It is yours to gain. I learned the hard way. Stay the course and profits will find your purse or pocket in time.
What Type Of Results to Expect From Affiliate Marketing?
The short answer is that you can make several hundreds to several thousands of dollars per month through affiliate marketing. The long answer is that it is completely up to you and the amount of time and effort you put into it. The results to expect from affiliate marketing are directly linked to time and effort spent doing it. If you consistently dedicate 20-30 minutes a day, it is very possible to make a $1000 per month of passive income in time. Spend more time and applying more effort can increase your income. That is the affiliate marketing definition really.
Think about the long term with this type of income. If you have a big bill to pay by the end of this month, this is not the option for you. However, if you are thinking about your income status changing by next year this time, you can win in this industry.
You can also expect that you will chance upon additional ways of earning money. When I first got started this I was short sighted admittedly. I only saw one way marketing. But, within six months I begin to realize that there are many different ways to earn money through a blog or website. This journey has been truly amazing, and I hope you chose to start today.
If you are interested in learning more about beginning your own affiliate marketing, please check out our post here. It is an easy read and very helpful. At least we think so. I hope that now affiliate marketing defined as a relationship will help you to see the power and opportunity of it. And if you are interested, please sign up for our newsletter below for weekly information about affiliate marketing, and how to save the money you have.
The affiliate marketing definition can change your life if you apply it correctly.