Affiliate marketing is one of the most preferred ways to make money online. The reason is simple. is all about using leverage to make money. There have been cases where affiliate marketers made money within a very little amount of time, there have been cases where affiliate marketers made money with very little effort and there have been even more cases where affiliate marketers made money with a very little starting cost. In affiliate marketing, you do not need to have a product of your own. This of course sounds wonderful!
You can start affiliate marketing today and start earning money within 7 days. It’s no wonder why a lot of newbie marketers are attracted to the affiliate marketing concept. You do not need a product of your own; some say you do not need to have your own website. However expert marketers would argue that having your own website is a better long-term strategy but for now, let us just accept the fact that you can make money without a website of your own.
There are 3 main methods that an affiliate marketer can utilize during the course of their marketing efforts. They are the unattached, related and the involved method to making money with affiliate marketing.
Let us begin with the unattached method.
Being an unattached affiliate marketer is usually the most popular of all three methods. This is because as an unattached affiliate marketer, all you have to do is to refer targeted traffic (without any relationship or attachment to you or your business) to the merchant, and you get paid if a sale is made. What this means is that this method is very easy to pick up, and it is in fact, the easiest way to earn an online income via affiliate marketing.
In this method, you do not know who your prospects are and your prospects have no idea who you are either. Therefore, conversions are heavily based on the buying intention of the traffic and the ability to convert the prospects into customers by your merchants. The key part to this marketing model is to seek out a good converting offer and then drive targeted traffic to the offer. The best way to get the traffic that you need for this model would essentially be the PPC (pay per click) or search engine traffic.
When it comes to PPC, you will need to purchase the right traffic (usually coming from the right relevant keyword of your choice) and they are shown a small advertisement that you come out with. When these people click on your ad and goes directly to your merchant’s landing page (direct linking method), you will earn a commission if the prospects choose to buy. Usually, you will have little or no idea on the effectiveness of the product you are selling.
The related method.
In the related affiliate marketing method, you basically have a website of your own and have a certain amount of traffic flowing into your website. Your website could be in any niche and you will place banners or advertisements of the product of your choice (preferably a product related to your topic or niche and a converting one). In this model, your prospects know about you and they are going to your site for contents. Hence your site is usually a forum or a blog type of website where you have traffic coming in for the contents that you put out consistently.
This model takes a lot more effort and it can be time consuming to get your website established to a point where you have a constant flow of traffic. Most of the time, the offer that you promote is something you have never used before but you are promoting it for the sake of some money. The good thing here is that your prospects have a certain level of trust on you and they will click on your recommendations and the conversions can be on a higher level than the unattached marketing model.
The involved method.
As you grow with the first two models, you will find that promoting products that you actually use and you are very happy with the results that the product produces, you will be able to promote the product with a much higher passion. This is the best model according to expert affiliate marketers because you will try to create a relationship with your prospects and make your experience on the product known to the public.
If you are already on the celebrity or guru status, then your sales will skyrocket whenever you promote a product that you endorse and use. People will follow in your footstep and give the product a try. This method also ensures that most people will be happy with your recommendations. Your testimonials on the product will give the overall conversion rate a huge boost.
This is by far the best way to earn the most amount of income as an affiliate marketer, and you can hope to sell similar products to the same buyers over and over again. In this model, most of your traffic could be coming from a list that you have built over the years using your website.
This model is not about quick money, but it is a very good business building model which means this model is great for a long term affiliate strategy. Using a model like this also means that you do not have to jump from one product to another constantly.
Instead, you will have a few products that you use personally, and they will earn you money almost on autopilot once you have everything set up properly. However, this marketing model does take a lot of time and a lot of relationship building and branding awareness is required for the best results. It requires the most efforts but when done right, this model will earn you the most money for a very long time.