Quite often, you might hear people talk about affiliate marketing and think that it’s easy, passive income. I can sit there all day on my couch while I watch the affiliate revenue pour in! Make money while affiliate marketing programs find sleep like Bill Gates. Who wouldn’t want to do that?
Many marketers who get into affiliate marketing are hoping to make easy income without actually owning and operating the business that sells the product. You can just mention a few products and provide affiliate links. Next, you simply use your current inbound tactics to drive more visitors and sales. But the truth is that it’s not easy. Most affiliate programs don’t produce enough profit for a marketer to sit back and relax. And most CMOs feel that affiliate marketing is one of their least-mastered skills.
This means that there are only a select few in the affiliate industry who produce the majority of the profits. So making a living on affiliate marketing is tough. Thankfully, there are still niche-affiliate industries out there that you can tap into for unparalleled success. I’ve found a few of them myself.
And I’m going to teach you how to do the same. Here’s a little bit about what affiliate marketing is and how you can find a profitable niche. One of my favorite definitions of affiliate marketing is by Pat Flynn. You find a product you like, promote it to others, and earn a piece of the profit for each sale that you make. Affiliate marketing usually focuses on multiple parts: The advertiser, publisher, and consumer. But when we break it down into simpler terms, it usually just focuses on the product’s creator or seller and the affiliate marketer.
Generally, you can think of affiliate marketing as the idea of a company selling products or services and then seeking out others to help sell those products or services in exchange for profit-sharing. A company puts their products on Amazon. Amazon wants to sell more of those products. In exchange for advertising those products, you get a certain amount of the sale.
So let’s break it down even further into a few sections that will help you better understand how affiliate marketing works. The merchant can take multiple different forms. The merchant could be the product creator, seller, or brand. Most consider it to be the company that produced the product. They produce and sell electronic goods.
You can file nearly any company under the merchant category: small businesses, SaaS companies, and more. They simply need to be the creator and seller of their own product. You can also refer to the affiliate as the publisher or advertiser. And it doesn’t have to be a huge company either.