Affiliate marketing is a growing industry with low barriers to entry and a huge earning opportunity for those who are prepared to put in the time and effort required.
What is it?
- It is a performance based opportunity – you will not be paid a salary. You earn commission on referred sales.
- It typically requires knowledge of online marketing tactics but it can be applied in all marketing channels – on and off line.
- It is well suited to bloggers and anyone who wants to work from home.
- You have to work with advertisers that can trust you to represent their brand effectively.
- You manage your own campaigns, financial reports and audience selection.
- If you are successful, you will find yourself being approached by lots of advertisers – you will have to manage your own engagement with them and will have to broker your own deals!
To give you a sense of the size of the market, in 2012 more than £800 million was spent in the UK on Affiliate marketing. It showed an average 11 to 1 ROI.
Where do I start?
Affiliate Window, Rakuten Linkshare and Commission Junction are among the most popular and best kn0wn affiliate websites, and represent a diverse selection of brands. You can register with them and browse the offers available.
Most advertisers will expect you to have an established website before they accept you to start promoting them. The best brands will only work with affiliates whose content supports their brand values.
How much money can I make?
This is a very open-ended question. It depends on the product or service you choose to promote, and on how many people you are able to reach and convert. A blog about junk food that receives 1,000 hits a week will not be likely to return as much revenue as a blog about luxury holidays that receives 1,000 hits a week.
Set yourself realistic targets – begin by aiming for supplementary income. If you earn enough to sustain your enthusiasm, you may have learned enough to be able to set new targets for yourself!
Can I get help?
I will try to help if possible. Leave a comment below 😀