It mainly functions as a system where you generate a sale a product on another site. Every visitor you send to the product website is monitored, and you get a commission for every purchase done on the product website.
Affiliate Marketing connects a business that has a product to sell with a marketer who can sell it.
Affiliate Marketing is a promotional model that connects merchants with independent marketers who are willing to invest time and money to sell a merchant’s products.
Affiliate marketing is the sale and exchange of revenue between advertisers, merchants, and online publishers.
This is a way to promote the web-based business by bringing buyers and sellers together and rewarding intermediaries who have pointed out the connection.
Best part is that almost anyone can start with it and its configuration is almost FREE !
You can start earning without any product manufactured by your own !
How Does Affiliate Marketing Work Technically?
- Most advertisers will employ an Affiliate Network to administer the tracking of their Affiliate Campaign.
- The network will provide a set of Tracking Links to the affiliates that sit behind the banners and text links on the affiliates’ websites.
- When the customer Clicks on that link a Cookie is dropped onto their computer and that Click is Registered by the Affiliate Network.
- When that customer Completes a Purchase and reaches the advertiser’s confirmation page, the Affiliate Network’s Tracking Tag is fired.
- That tag checks for the relevant cookie and if the customer has come from one of the Affiliate Network’s publishers, the Sale is Recorded by the Affiliate Network in their platform.
- Via that platform both the advertiser and affiliate should be able to see that the sale has tracked and a Commission can be Awarded.
The tracking tag is always with all of the information relevant to the sale, typically the Price and Order ID are always included, then additional fields such as the Product Stock Keeping Unit (PSKU) or Promotion Code can be added and tracked to assist with analysis of the campaign’s performance.
Famous websites monetized with affiliate marketing:
The average profitable website monetized with affiliation:
- Big sites can earn well over $5,000 per month.
- The average profitable websites can earn about $2000 in a month.
- Optimized website
- High traffic volumes
- Subscription to an affiliate program
Budget: $30 to $50 (Budget to keep the website up and running )
Estimated time for profitability: about 2 months to get the first $100 commission
Growth and marketing methods: SEO / Content writing / Product Descriptions / Reviews
Must have skills:
- SEO skills
- Social media skills
- Content writing (product descriptions)