A Guide To Starting An Affiliate Marketing Business From Scratch!
Clever business owners and entrepreneurs know that the only way to grow their business is to increase their sales volume. It doesn’t matter if they’re selling information. a product, or a service, continued sales growth is the only way of keeping their businesses profitable and growing.
The most direct way of driving more sales for any business is through advertising. This is especially important for any new business, but just as important for well-established brands also. Take a look at some of the biggest brand names in the world, even they need to continually remind you of their existence. They need to keep you engaged and make sure you keep buying their products.
One of the biggest drawbacks of advertising though is that it’s very expensive. Although it’s true, most big brands will still spend huge amounts of money on advertising each year.
But there is another way. One that grows their business and offers even more value to their customers and followers while keeps engagement high.
Affiliate marketing! That’s why if you’re not participating in an affiliate marketing program you could be missing out on a very lucrative passive income stream. The affiliate marketing industry is a multi-billion dollar a year industry and growing.
Now, to be fair, not everyone makes it in affiliate marketing, but with the right know-how and guidance it’s very doable.
What is affiliate marketing?
Affiliate marketing is another sales technique employed by businesses to increase sales by forming a partnership of sorts with “affiliates” who then go on to promote their goods for a commission on each sale or referral. Meaning, businesses don’t have to pay for advertising, and affiliates don’t need to have or create products to sell …a win-win for both parties.
So why would a business give away some of their profits? Because it is much, much cheaper for them to pay a commission on something that’s “already sold” than it is to pay for advertising that doesn’t necessarily yield the same results or have the same outcome.
How does affiliate marketing work?
Becoming an affiliate marketer is a relatively easy process. There are basically 5 simple steps to follow for you to get started.
- Find and join an affiliate program
- Choose which offers to promote
- Obtain a unique affiliate link for each offer
- Share those links on your blog, social media platforms, or website
- Collect a commission anytime someone uses your links to make a purchase
Can affiliate marketing be a business?
Absolutely it can! In fact, many people have created very large and very lucrative businesses from affiliate marketing. Done well, this can become a great passive income business for anyone. Don’t expect it to happen overnight, but once it gets rolling it’s something that will virtually look after itself with a little maintenance from you.
How much can you make?
Like most things, it depends on how much you’re willing to put into it. If you put the effort into it, in the beginning, it will reward you handsomely for a long time to come.
As an affiliate, you will earn a commission on anything that is sold through your unique affiliate links. The good news is, you can have as many affiliate links to as many products or services as you want (or can handle!). Meaning you can be in just about any business you want to be in, as long as there is an affiliate program available.
Commission rates can vary dramatically though, depending on the company and the offer. On the lower end, you’ll earn about 5% of the sale, but, with some arrangements, you can earn as much as 50%, usually when promoting a class, digital products, or an event. These are called high ticket commissions. There are even some affiliate marketing programs that provide a flat rate per sale instead of a percentage.
What are the benefits of the affiliate marketing business model?
There are several benefits affiliate marketing offers affiliates (…yes YOU!). The first is the ease of getting started. With a bit of preparation, you can virtually start right away. Your side of the equation is to simply handle the marketing side of selling the product to the customer i.e. educating them enough so they make a purchase.
The rest of it, like purchasing or developing products, customer support, order fulfillment, etc, is all taken care of by the business you represent. You never have to worry about any of that.
Financially, there’s very low risk involved. Affiliate marketing programs are free to join and as there’s no need to purchase stock or invest any capital, the entry point, financially, is very low. Your biggest investment, to begin with, will be your time and your ability to produce marketing campaigns.
Don’t worry if you know little to nothing about marketing, (neither did I when I began) we’ve got that covered later on.
Finally, affiliate marketing is a highly scalable and lucrative business model. You don’t need to hire staff or rent premisses, you just continue to introduce new products and services to your audience while existing products continue to generate an income for you in the background. As sales begin to increase it’s very easy then to scale your business, and there really is no limit to how far you can take it!
Know this though. great affiliate marketing is built on the trust you build with your customers and audience base. And although there are many different niches and products you can promote, I would suggest you stick to those that you have a good knowledge of or are very passionate about (or both of course!). I also recommend you test and try products before you promote anything.
All affiliate marketing programs have certain terms and conditions you’ll need to follow, and they can vary greatly. So make sure you read and understand the different policies associated with each program before you start. Some programs won’t allow you to use their company name in advertising, for instance, and these are the small details you will need to know before you start.
But, all-in-all, it’s usually a pretty straight forward process getting set up with your own affiliate links …and off you go.
Can anyone become an affiliate marketer?
Yes! As long as you’re over 18 (for legal and tax purposes) anyone can start affiliate marketing. There is definitely no age limit here either. Affiliate marketing can be done by anyone, with no exceptions!
However, that doesn’t mean this will be suitable for everyone. You still have to put in some heavy lifting, to begin with, and your success will depend on how well you can get your message across.
The main way you’re going to do that is by writing articles and blogs (i.e. reviews) that you then post through social media sites, videos, or dedicated blog pages (that you set up yourself).
I KNOW …that sounds really daunting to some of you, I get it. But here’s the GOOG NEWS. You don’t have to do all the work yourself, you can outsource just about anything you need to be done online! If you’re not very good at writing articles, or design, or blogs you can get a freelancer to do it for you, and it’s very cheap.
You will still have to tell them what you want and give them some specifics to work on, but they’re experts in their particular field and much better at putting things together than most of us are. Once you receive their work back you can then make a few tweaks and changes if you like, which I recommend doing, because that’s how you add your own spin, flavor, or style to whatever it is.
I would suggest though, trying to do as much of the work yourself as possible, particularly in the beginning, that will give you a better understanding of how things work and what you need to ask for later. The other advantage to that is your personality will shine through even more, and that’s what people like and are attracted to.
Remember: Keep it relevant and real!
There are lots of outsourcing sites on the net that do just about anything you need to be done online. From writing articles and graphic design to building web pages and everything in between.
Fiverr is one of those, if you need anything done online, then check them out. They are one of the biggest and most popular, and widely used sites around when it comes to getting things done online for a very good price.
How do I choose the right affiliate program?
This is the fun but sometimes tricky part. You first need to establish what niche or niches you want to be associated with. It’s usually best to stick with the ones you’re passionate about or at least have a good understanding of or have expertise in.
For example: If you’re passionate about healthy living, then you’ll most likely have more success promoting things associated with that sort of a lifestyle, such as healthy eating (writing food blogs and promoting products), yoga, meditation, special diets, exercise, exercise equipment, gyms, outdoor activities …and so on.
As the expert in your particular field (or niche) people slowly begin to trust you enough to buy the products that you endorse. That’s how over time you build up your audience and customer base.
So make sure you align yourself with the businesses and products that most suit your audience and their interests. There’s no point trying to sell cookware, for instance, to someone that doesn’t enjoy cooking.
Are you ready to get started?
If you think this sounds like something you’d like to do or learn more about, then make it happen!
I have written a short reference book, “Your Personal Guide To Affiliate Marketing” that expands on what we’ve touched upon here. It will guide you through the process of getting started with affiliate marketing right away
…and it’s yours for FREE!
But, before we wrap up here, I would like to add one more thing. Be clear about WHY you want to do this and the goals you want to achieve. Affiliate marketing should be a long term strategy that will eventually give you a passive income ( i.e. financial freedom!).
So, as I said earlier, if you’re willing to put in the work now, it will reward you greatly later on. But it won’t happen overnight. You will need some patience and a little bit of grit thrown in as well.
The most difficult part of the process for some is being able to change their mindsets, to stop thinking like an employee and start thinking like an entrepreneur. You need to keep investing in yourself and in your financial and personal education if you ever expect anything to change.
So Let’s Do This: Download my free ebook now and let’s get you started on this amazing journey towards financial freedom and self-discovery (yes it’s that too).
My journey began exactly the same way and you now have access to exactly the same tools, mentors, community, and training I had that led me right here. I was a chef by trade and now run 2 online businesses of my own, in less than 2 years. So if I can do it …so can YOU!
Dedicated to your success.
P.S. Make sure you check out the free bonus resources at the end of the book …it’s all a part of your learning journey.