Ever since the 4-Hour Workweek was released, everyone seems to have the same goal. The idea behind it is that you promote other people’s products, often through an affiliate network, earning a commission if people actually end up buying thanks to your marketing. If you have a product affiliate marketing made easy want to sell more, you can offer promoters a financial incentive through an affiliate program. If you have no product and want to make money, then you can promote a product that you feel has value and earn an income from it as an affiliate marketer.
I want to dive deeper into what affiliate marketing actually is, what sides there are to it, and how to get started. So, let’s dive into my affiliate marketing guide. You find a product you like, promote it to others and earn a piece of the profit for each sale that you make. 4 different parties that are involved: the merchant, the network, the publisher, and the customer. Other definitions talk about 3 parties instead of 4. I will explain all 4 parties in a second.
It’s not just the promotion or just the product creation that defines who you are as an affiliate marketer. You can be both the creator and the marketer and still profit from the underlying idea of sharing revenue. Now let’s look at all of the parts of a successful affiliate marketing system. The Merchant: Sometimes also known as the creator, the seller, the brand, the retailer, or the vendor. This is the party that creates the product.
It can be a big company, like Dyson, who produces vacuum cleaners. From solo entrepreneurs to startups to massive Fortune 500 companies, anyone could be the merchant behind an affiliate marketing program. They don’t even have to be actively involved. The Affiliate: This party is sometimes also known as the publisher. Affiliates can also range from single individuals to entire companies. An affiliate marketing business can produce a few hundred dollars in commissions each month or tens of millions of dollars. The Consumer: The customer or consumer makes the affiliate system go ’round.
Without sales, there aren’t any commissions to hand out and no revenue to be shared. Whether the consumer knows that they are part of an affiliate marketing system or not is mostly up to the affiliate. They let the tracking system work in the background, where the customer can follow the purchase process just as usual and the affiliate still ends up being paid a commission. The consumer will not typically pay a higher price to the affiliate marketer, as the cost of the affiliate network is already included in the retail price. The Network: Only some consider the network part of the affiliate marketing equation. For example, this happens if the merchant only manages their affiliate program on that network. Anyone can sign up and then generate a custom affiliate link to Amazon products.
If someone purchases through your link, you earn a small commission. With the basic terms clarified, let’s get an overview of how you can best get started with building your affiliate marketing business. While most people start by taking the affiliate route and it definitely is the easier path to take, building enough traffic to make a meaningful income just from affiliate sales isn’t quick or easy. That’s why I’ll walk you through the 4 basic steps that you can take to get started on both sides of the affiliate marketing industry. I’ll show you a few ways that you can generate those ideas, based off what’s already popular, in the next section.
You could just go ahead and build your idea. But, what if people don’t even want it? An idea is only good if people actually want it to come to life. Since creating a physical product usually comes with huge investment and risks, I’ll only show you ways to create digital products. These are the best place to get started since they typically only require your time and little or no money. Instead, just look at what products and services are already out there. Consider how you can improve upon them, by delivering something that solves the problems with those products.
Imagine that you’re a housewife or a stay-at-home Dad, for a second. Maybe you want to create a product that makes household chores easier. For example, you could look for a vacuum robot to get some ideas. 6 out of the 10 reviews of the top products! However, the virtual wall came up again and again and again.
I imagine that you could sell anyone who owns a vacuum robot a system that works as a virtual wall, so their robot only cleans a predefined space. This works for anything, I’ll show you. Apparently, people really want to know how to build cool sandcastles. You ask people to pay you for it. How do you find these people? Topsy then shows you a list of all of the people who tweeted that link.