What is an Affiliate Marketing Business?
I’ll answer the question of What is an Affiliate Marketing business. Affiliate marketing is one of the most popular ways for many people to make money online successfully. After you start an Affiliate marketing business, and you have invested 3 to 6 months writing content (articles) you will start to see success via search engine traffic, which will translate into passive income for an individual.
An affiliate marketing business revolves around either building a blog, a review website or some kind of authority website. Consequently, It starts with affiliate marketing training. Training will get you started quickly vs. years of trial and error. While training, you are building your web structure based on the niche you have chosen.
Training
Affiliate marketing training is recommended if you want to ensure success. You can go the route of trial and error, watching youtube videos and reading everything you can get your hands on. Personally, I don't recommend that path. It will add years of pain and suffering and you will probably drop off. Even with solid training, you have to work your butt off for the first year or two. But, you should expect that when starting a new business.
You need the training/skills to be successful in any business, and the online world is no exception. For example, can you imagine starting a web design company or a restaurant without any training or knowledge? It would be a recipe for disaster. Probably the best training you can get to build an online business would be from Wealthy Affiliate. You can read my review under "Online Business Builders" it's free to start with no credit card.
A niche is a direction you want to take your business based on your experience or passion for a certain topic. I will give you an example in one minute. A niche can also be in an area where you do not have experience but you would like to become an expert.
Here is an example of a niche. You love to travel and you are good at finding the best deals in some very exotic locations. With that said, one of your web businesses might be a travel blog or travel site that is specific to vacations in Spain or San Francisco. Alternatively, it could be riverboat cruises in Europe or cruises in general. You get the idea.
In addition, I recommend that you do not make your niche to broad. So, initially, do not build a travel blog or site for all travel. In other words, focus on one aspect of your niche. Down the road, you can expand your niche if you feel the timing is right.
Neil Patel wrote a good article on "How to find a profitable niche" (Click Here to Read).
Building Phase
Part of answering the question of what is an affiliate marketing business will include addressing the build phase. The build phase typically is an extension of the training. Good training will be a step-by-step process where you will go through one lesson and then implement that lesson in the build phase. It's like stacking building blocks. Your building one block at a time and you repeat the process until your initial web business structure is up and functional.
The build phase may include building an affiliate marketing blog, an affiliate marketing review site or an affiliate marketing sales funnel system tied to ads. Consequently, it just depends on the niche you choose and which direction you want to travel.
Typically, the best business builder platform for you starting out will be utilizing the WordPress platform for your blogs and sites. Needless to say, WordPress is the most popular building platform online but that doesn't mean you can't use a system with a proprietary builder.
Personally, I recommend utilizing a system that is geared around the WordPress platform because if you decide to make changes down the road, your WordPress business will easily travel with you. Hence, if you are using a proprietary builder it will be harder or impossible to move to a different hosting environment.
Check out the affiliate training, in the main menu under online training; it utilizes the WordPress platform.
Monetize the Business
While you are training and building your business, it’s time to monetize your business.
Therefore, this next step is one of the keys to setting up an affiliate marketing business. It involves setting up partner relationships with companies that are relative to your niche. These partner relationships are set up through the companies affiliate program. All affiliate programs are free to the affiliate marketing business. Also, most companies have an affiliate program which means you can do business with almost any company on the planet to support your new affiliate marketing business.
So, going back to our travel example, you may choose to focus on cruises within the travel sector. In doing so, you could sign up for the affiliate program with Cruise Direct (https://www.cruisedirect.com/affiliates). They represent all the major cruise lines. As a result, you would earn a commission every time someone clicked on a link from your travel blog and booked a cruise. Also, that person that clicked the link may not book a cruise for two weeks but a cookie is placed on their computer and you get credit for the booking even if it’s weeks later.
Recap
In summary, first, you build a blog or review site based on your desired niche. Next, you sign up for the affiliate programs you have an interest in. As soon as you get into the program, you can advertise their service or product on your blog in several ways, for instance, blog posts, text links, banner ads, written reviews, email marketing campaigns, and social media updates. A good affiliate marketer always uses various marketing channels for advertising content.
As a reward for your promotional efforts, you, in turn, earn a commission for every lead, sale, or referral made from your specific affiliate link.
Consequently, when you multiply this process by thousands of visitors a month, you can see why an affiliate marketing business can be a very lucrative venture.
There is one rule to be aware of regarding the FTC. Before you begin posting ads and affiliate links into your content, the FTC (Federal Trade Commission) calls for bloggers to be completely transparent with their affiliate relationships. It’s very simple to comply with this rule. Hence, all you do is add some text in the footer of your blog or site that says something like: We may receive commissions when you click on our links. That’s it, pretty simple. With that said, just create content that is honest and don’t plagiarize content from other sites. Here’s the link to the FTC site (https://www.ftc.gov/tips-advice/business-center/advertising-and-marketing/online-advertising-and-marketing)
Valuable Tips
I will leave you with some tips to get started:
1) Go for products and services that you are familiar with, you use, and love. In case you are not sure about promoting a particular product, be free to ask the merchant for a sample or copy to review. It is vital to remember that these are your readers, and you do not want to lose their trust by advertising shoddy products and services.
2) Ensure that your blog is visually attractive, easy to operate and that the content is appropriate and gives real value to all readers.
3) Choose merchants and products specifically for your niche.
4) Create traffic to your site since the larger your audience, the more the likelihood of generating potential sales and leads.
5) Involve your affiliate partners to get the marketing copy and other strategies, tips, and tools. They need you to be successful because if you are successful, they become successful too- remember it is a jointly beneficial partnership.
Why is affiliate marketing such a successful online venture?
According to a current report from BI intelligence, it is one of the top four most significant sources of e-commerce orders, and of late, it has overtaken display advertising and social commerce. However, even if affiliate marketing is one of the leading ways to make money online, it is not suitable for every person. It requires writing a lot of content (articles) and patience to get your business rolling.
There are lots of merchant affiliate programs that offer enticing commissions and offers for the affiliate marketer. Whether you are a beginner to the eCommerce world or just looking for additional revenue streams, acquiring the right affiliate program and products is the key to success.
Be careful not to overcrowd your site with slow-moving and insignificant product or service recommendations. To stay on top of the trend means you will have to recommend products and services are popular at the moment. At the same time, ensure that all your marketing expenses remain as low as possible, and the whole marketing procedure is as effective as it can be.
Make it the main objective to target a specific audience which pays off high and is less expensive; your profits will rise as you concurrently create customer trust and loyalty.
Top affiliate marketing products
Do not miss out on some of the trends if you want to develop a unique value proposition with products which will surely be a hip soon. Examples of the top affiliate products to sell currently include phone accessories, virtual reality, portable LED projectors, drones, 3D printers, home automation, security and surveillance systems, wearable devices, and hoverboards.
Phone accessories
The market for phone accessories remains a hot thing following the introduction of mid-range phones and flagship. Nevertheless, do not waste your time, efforts, and money engaging in cheap imitations; partner up with the best accessory manufacturers. The array of accessories include no-brand wireless earbuds, LED-backed phone cases, and numerous Bluetooth based products. The accessories do not include outdated and cheap plastic phone cases.
Home automation
Notably, the past five years have seen the growth of the home automation industry primarily because of numerous vital innovations like smart TVs, smart speakers, and also smart hubs for smart homes. Consequently, the devices have a strong consumer following, which directly transforms into a money-making market for affiliate marketers.
Any interested marketer can get in touch with home automation device manufacturers to obtain devices at discounted prices to promote and have higher commissions. This type of arrangement with the merchant is no affiliate marketing but more of a drop shipping arrangement. Occasionally, home automation products will record a spike in the middle of the year. Nevertheless, you can opt for a sub-niche and develop a target market by promoting certain specific devices.
Hoverboards
Of late, a great hobby item is a low-cost hoverboard. With the demands of these items increasing rapidly, the credit usually goes to manufacturers from China known for taking the market by storm because of selling their low-cost imitations. To begin with, discuss an initial deal with renowned hoverboard manufacturers; this is a prudent step to take for any marketer that is interested in such products. Gradually, the market will advance to a sizable market and enter the big league, thereby promoting numerous self-balancing hobby vehicles including electric scooters and hoverboards.
Virtual reality
The virtual reality products are taking off at last. Companies that sell VR products and services currently reap benefits because of the increased public interest stemming from enhancements of VR technology. Even though most people believe that right now the capacity of VR is already at the lead compared to other technologies, we might see a breakthrough soon. At any rate, no one can deny the great potential that lays in the market for VR based products and services.
Drones
Drones have also grown in popularity. Even though there are a lot of restrictions placed with flying one still, the market has no probability of slowing down in the future. Up to date, the use of drones extends to other avenues of recreation, but also they are widely used for commercial aspects in fields like photography. The best part is the presence of many drone manufacturers and several existing affiliate programs in this expanding field.
3D printers
Initially, it took too much effort and money to be able to acquire a printer. Nevertheless, there has been a significant decline in the cost of ownership with predictable results.
Of late, it is very much possible for any person to have a portable 3D printer. They are more than just a hobby tool; you will discover there are also critical applications of this technology in other avenues of manufacturing and fabrication. With this growing belief that 3D printers are presently affordable and easy to own, do not miss out on the opportunity to take advantage of this fast-rising trends.
Portable LED projectors
Large projectors are a thing of the past now. Today, portable LED projectors that can fit almost anywhere have become so popular just because they do not place stress on the pockets of customers. Since the sales are soaring, these LED projectors offer a fitting opportunity for any affiliate who is looking to sell trending products.
Security and surveillance systems
The rise of degrading security and uncertainty witnessed in many countries all over the world have brought about the increasing demand for safety and surveillance equipment. Subsequently, the market for the equipment will keep on getting hotter; this opportunity is a lucrative one for marketers that are active in the security and safety industry.
Wearable devices
Wearable devices are now predominant, and you can notice most people wearing one or more types of wearables. A well-known niche in these devices focuses on the health aspect that allows every wearer to keep tabs of their health in actual time without necessarily seeing the doctor. Wearable devices present a golden opportunity for marketers to earn better commissions for their promotions.
To be successful in this area, it is advisable to partner up with larger online retailers (Amazon, eBay) which target wearable customers instead of collaborating with single wearable manufacturers and utilize CPA marketing by building landing pages and advertising the products on social media.
Managed cloud hosting
Not every single individual is a professional when it comes to managed cloud hosting services, but there is a growing demand for these services. Agencies, developers, website owners, and freelancers these days prefer not to deal with the troubles associated with hosting because most managed hosting solutions eventually save plenty of time and effort for every user. Cloudways is an example of an affiliate program that offers excellent commissions.
Affiliate marketing at home
There are several third-party affiliate marketing platforms; you may find your favorite depending on the niche you will focus on and the numerous companies and brands they stand for. Some examples include Amazon, Flex offers, Viglink, and Ultimate bundles.
Amazon
Amazon is the most popular affiliate program to date. With the program, you have a chance of linking to any specific product that Amazon sells. With this platform, commission rates change from 1% to 10% on every item sold, and it will also depend on the product category and sales volume. All payments are sent out through check or direct deposit 60 days following the end of each month. For issuance of payments, the earnings should be at least $100 for the check and $10 for direct deposit.
Amazon also allows you to be an Amazon influencer meaning you will not have to create a website to promote any product on Amazon.
FlexOffers
Publishers mainly benefit from FlexOffers. Thanks to this affiliate marketing network, publishers will have access to up to millions of products and services to promote via templates, banner ads, text links, and other applications. Once you attain the $100 threshold, payments are done via direct deposit or check in every week or month. Some companies that are part of the FlexOffers group are Best Buy, Macy’s, Barnes & Noble, Starbucks, Target, and many more. The platform is straightforward to use, and the other great companies make it easy to meet and surpass the payment threshold.
Viglink
As an affiliate aggregator, Viglink automates affiliate marketing for publishers. It works by first signing up for a free account; afterward, paste the code they provide you into your website. You will start earning cash when the links are clicked on and when your readers make a purchase. Increase your earnings significantly by including Viglinks to your Twitter and Facebook updates through your email accounts. Viglinks work together with Avon, Anthropologie, and Amazon. They have more than 30,000 companies which are part of their program. To earn more money, refer your friends and other bloggers to Viglink.
Ultimate Bundles
Ultimate Bundle is an affiliate platform dealing with the selling of bundles of digital products from some small business owners, including bloggers for a low price. Currently, they have bundles in the niches like Herbs and essential oils, meal planning, healthy living, blogging, handmade, and homemaking. Each bundle has a value of thousands of dollars for digital products but sold at a certain fraction of their retail cost. The affiliate program performs a stellar job of offering banners, extensive tools, webinars, training, videos, and email copy for every bundle’s launch. The affiliates get a considerable 40% on sales; PayPal is the mode of payment.
Conclusion
I hope I answer the question of What is an Affiliate Marketing business. An Affiliate Marketing business can be a very satisfying and lucrative opportunity. As a result, it gives new online business owners the freedom to work from anywhere and live their dream.
With that said, it takes hard work, focus, and persistence. Moreover, it's not a case of will I succeed in affiliate marketing, it's a case of when (assuming you get solid affiliate marketing training. The "When" depends upon how much time you can invest per week. Consequently, everyone has different schedules and work ethics. If you get quality training and put the time in, you will build an affiliate marketing business.
Personally, I recommend that you check out the Wealthy Affiliate training by going to the main menu under "Online Business Builders. Then select Wealthy Affiliate Business Builder/Review The Program.
They have the best training of any platform. With that said, you not only access their impressive affiliate marketing training, but you also get everything you need to build your online business under one roof. The best part, they have a free program (no credit card) as well as their premium program that costs less than my $35.00 dollars a month mobile phone bill. To me, it's amazing that you can start to train and build an online business for zero dollars.