Making money through affiliate marketing is easy enough, it seems, although it’s not always that easy to actually make money from it on a regular basis. If you want proper foundation and to get the best affiliate marketing training, read on.
The concept is quite simple, actually, and for that reason so many people are eager to launch a full time career as an affiliate marketer.
Let’s start with the basics. Let’s say that there’s a website out there offering many different types of car services and now they want to increase their client base. That’s where you come in as an affiliate marketer.
You can set up a blog, get lots of people to visit your website, and put up lots of helpful articles and videos about cars. Once people begin to think that you’re a helpful fellow, you can then “help” your visitors by recommending various services which you think are good.
You can say that this particular company is offering high quality carwash services, and then offer them a link to that website. Every time those people who clicked on that link actually availed of their carwash service, you get commission.
All this, of course, begs the question: which companies or products/services should you promote? In order to arrive at an answer, let’s discuss the relevant factors:
Affiliate Marketing Training: Which Product or Services Should I Promote
1. How much money do you make per sale? Usually, this is an equation based on the price of the item and the percentage of your commission. For example, if the car wash charges $10 and offers a 30% commission, then you get $3 when the people you send over from your website get a carwash from them.
Commission rates can vary, with some websites actually offering 100% commission. They do this not because they want to make money of that product—they’re essentially giveaways—but they want you to function as a messenger so that the customers may be exposed to other products the website is selling.
Because of this, a lot of experts are arguing that it makes much more sense to promote more expensive products and services. Instead of carwashes, you can instead promote the sale of a car. So if the car sells for $20k, then even a smaller commission of 10% nets you a cool $2,000 per sale. With high-priced items, you don’t need to convince a lot of customers to buy in order to make money.
2. The conversion rate. This is just a fancy term for the number of people you send to the car service website who actually avails of the car wash you recommended. So let’s say the site has a conversion rate of 10%, then that means out of a hundred people you send to the site, 10 people availed of the carwash.
There are plenty of reasons why even the people whom you have convinced to check out the carwash will decline the service. Maybe the entire website looks amateurish or untrustworthy. Maybe even the procedure for getting the site is convoluted. What you want is a website that can provide a high conversion rate, so that your efforts aren’t wasted.
3. Refund rate. Speaking of wasted efforts, this factor refers to how often people ask for a refund. Usually, a high refund rate means that the quality of the product is crappy or at least not as great as how it was described in the marketing. You really want to avoid this product if it has a high refund rate.
4. Additional products and services. In the affiliate agreement, you also need to specify whether you will be paid of the customer you sent to the car service company avails of other services.For example, will you be paid if the customer gets a tune-up or windshield repair as well as a car wash? What if the customer, doesn’t get the car wash you recommended, but gets a tune-up instead? Will you get paid for that too? Obviously, the better option for you will be the car services website which will pay you a commission for other services.
5. Cookies. When you enter an affiliate agreement, the car services website will use “cookies” so that they will know that a particular customer came from you. However, that cookie does not stay on their browser forever. So you need to find out for how long will you be paid if a customer goes to that car wash service and gets a carwash every week. Will you be paid for just the first car wash, or for the rest of the year?
Some affiliate schemes have cookies that stay on for an entire year. So for example, if that customer you sent to the car wash website doesn’t arrange for a car wash right away, but instead arranges for one 8 months from that day, then you will still get paid. On the other hand, some affiliate schemes actually have cookies that stay on your browser for just a single day!
6. Payout schedule. Quite a few affiliate agreements today pay you instantly. That means if a customer you sent over immediately pays online, then your commission is immediately sent over to your online account. But there are still some other affiliate schemes which will require you to reach a certain number of sales before you can get your money.
As an affiliate marketer, the amount of money you make from an affiliate agreement is perhaps one of the most crucial aspects of your operation. But various guides written by experienced experts warn that the most important consideration here is not the money you make on a particular product.
That’s just short term thinking. You have to take the long view, and make sure that you recommend only those that you’re sure will help and please your customers. Your biggest tool in selling all this stuff is your reputation.
And if you smear that reputation by recommending crappy products in the name of short term profits, then you effectively end your career as an affiliate marketer. You’ve just killed the goose that laid the golden egg so to speak, because no one will trust you again. As an affiliate marketer, you have to protect your reputation.
Want to get the best affiliate marketing training and highest paying affiliate programs to make huge commission starting from today, click the below banner.