What do the phrases “affiliate marketing” and “passive income” have in common? They have the pleasant ring of (almost) free money. Affiliate marketing is actually a method for creating passive income by advertising another company’s product on your website. Given its potential for generating revenue while expanding both parties’ networks, learning how to start affiliate marketing is a hot topic of inquiry. Research suggests that affiliate marketing is on the rise by 10% each year, with 81% of brands using the strategy to drive sales. Whether you’re researching ways to create passive income or expand your product’s reach, learning how to do affiliate marketing can be a game-changer that transforms your bottom line.
Want to become a skilled affiliate marketer?
Understanding affiliate marketing
How does affiliate marketing work? Understanding how to start affiliate marketing begins with a product link on your website. Affiliate marketing lets you earn a commission by promoting a complementary company’s product. When someone purchases the other company’s product through your site, you get a commission. The affiliate and the host company share numerous business activities, including production, advertising, marketing and sales, so both parties stand to save on costs.
Given the rise of social media and its power to captivate consumers, affiliate marketing can be a lucrative revenue stream when used strategically. If you’re wondering how to become an affiliate marketer, consider your reach on the Internet. Are you a social media guru with tons of followers? Since affiliate marketing hinges on the ability to convert website views to purchases, successful affiliates typically already have an Internet following (think influencers, bloggers and email marketers).
Examples of how to start affiliate marketing
You don’t need a business empire to use affiliate marketing effectively. All you need is a product that adds real value for your customer. There are success stories on how to start affiliate marketing right in your backyard.
How to become an affiliate marketer
At its essence, understanding how to become an affiliate marketer is about relationships. Since you’re using your own platform and customer relationships to promote a product you believe in, you already have the tools you need to get started.
Want to become skilled at affiliate marketing?
Take your affiliate marketing skills to the next level by reading Tony’s 7 Forces of Business Mastery.
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