Affiliate marketing has a lot of benefits for both merchants and affiliates. Merchants get the exposure of advertising their products without having to spend money on advertising or going through the hassle of getting people to see their ads.
Affiliates get access to a large audience that can trust them to build trust over time and link to the merchant’s site instead of giving affiliate product links away. There are also many other advantages of using affiliate marketing such as increased conversion rates, lower cost per sale, and greater marketability.
This article will cover the strategies you can use as an individual or as part of your business to get started with affiliate marketing.
What Is Affiliate Marketing?
Affiliate marketing is the practice of earning income by promoting products and services. The most common way to earn cash with affiliate marketing is to sign up as an affiliate for a publisher who will pay you a percentage of the sale price for every customer you bring to their product through your review, link, or editorial content.
But you don’t have to be a journalist to get into affiliate marketing. You can sign up as an affiliate for almost any product or service.
If you have a following on social media and other online platforms, then paid to advertise can be an excellent way to get your name out to a massive audience. Paid advertising is an advertisement (such as online ads and banner ads) that a brand pays for the right to put their product in front of as many people as possible.
This can often be at the expense of the audience member seeing relevant content as they are too busy trying to avoid the ads. While paid advertising can work well, it is also quite risky. The problem with paid advertising is that it’s very expensive.
The more followers or followers you have the more likely the ad will get noticed, which means you get a good return on your ad spends. However, this high return is also the reason you end up spending so much money to generate so little return.
Browse And Find Great Deals
First, you’ll have to find a product that you’d like to promote. You can browse through the thousands of products online and find something you’d like to sell as an affiliate. Once you’ve found a product that interests you, you can research the market and find out your competitors selling prices so you can set your selling price a little lower than that.
Once you have a product picked out, then you can create a product feed of all your products on Shopify. When someone goes to your online store, they’ll see all your products listed in order of their feed, so as an affiliate you can try to sell your product before anyone sees your listing!
You can read more on affiliate marketing blogs to see ideas about selling different products.
An event is a special occurrence that attracts a lot of attention. Affiliate marketing events are similar to paid ads in that they provide exposure to products. However, affiliate marketing events are more focused on building community and relationships.
For example, if you run a fitness gym with affiliate programs, you can run an “affiliate challenge” where affiliate competitors work out together at a local fitness gym. This will get your gym’s name out there, build relationships, and show customers that your gym is fun and welcoming.