In a short word you can say that affiliate marketing means earning money by referrals. Many websites offer you to become an affiliate marketer.
It is simply referring anyone to any product from your link. There are a lot of ways to do affiliate marketing. The basic idea is to convert anyone to buy a product or service through you.
The website or anything you are doing affiliate marketing for will provide you commission on the product they can sell through you. There are different terms and conditions for different websites. If you are thinking of doing affiliate marketing for any website first read all the terms and conditions of that company. Some companies write things which are not good for you or make special conditions required.
What’s in it for me?
- Working in affiliate marketing
- Affiliate marketing, Right or Wrong
- Affiliate Marketing as Career
- Companies Offering Affiliate marketing
- Affiliate marketing vs Multilevel Marketing
I saw many people doing affiliate marketing online, many YouTubers earn a lot of money by doing it. They make videos like the top five of anything, then they say that they have given links in description or comments and many people use that link to go to the website and buy that product from the link provided from them.
They get a commission for every product they have purchased. Lots of people earn millions of Rupees every year in India by doing affiliate marketing. I think if you are making youtube videos or anything you should sometime give a try to affiliate marketing. Some people find affiliate marketing life-changing and it is a very good way of generating passive income.
Working in affiliate marketing
In this, you have made any product or service sell through you. It means referring someone to buy a product. You get yourself a percentage of commission and here how you can generate passive income.
To make it work first you have to make anyone click on the link and after that, if he buys that product or any other product then you get a commission on that product. The more people will go through your affiliated link the more passive income you will generate through affiliate marketing.
Affiliate marketing, Right or Wrong
It is good as you make the connection between the seller and buyer and your works as the affiliate. You suggested to the buyer and he buys the product. It is a win-win situation for everyone as the buyer will get the product at the same rate and does not have to bear losses.
The seller’s product will sell in good amount and also there are you who will get his commission for connecting them. So we can say that It is good. But sometimes many people sell the wrong product which is not good at that price by influencing buyers which is not good and should be avoided. You should be faithful to your public.
Affiliate Marketing as Career
Yes, this can be a career or can be a side career. If you are a YouTuber or write blogs you can promote your affiliate marketing through that.
People make youtube videos like reviewing the product and telling the audience which thing to buy or which not. Which is the best product in the market? If you are doing these types of things or you can do these types of things you can create an account and every time you can give a link of the product with the description.
This is a good way to generate passive income as people will keep watching those videos and the new audience can arrive after time to time whether it is a blog or a youtube channel so it is a good idea if you do it in addition to something else like youtube or blogging.
You can also make your app or website but it takes time for the audience to recognize that and youtube is that platform that has a good audience.
Companies Offering Affiliate marketing
Mostly all of the e-commerce companies have an affiliate program on their websites. Companies that provide online services like web hosting or any company that makes software also do affiliate programs. Amazon had its affiliate program named amazon associates.
Millions of people are working with amazon associates. Amazon is the world’s biggest e-commerce company. In its affiliate program if you made anyone buy a product it gives us around 3-5% of the commission. It applies for 24 hours, yes if anyone landed on amazon by your link and he made a purchase of anything within 24 hours then you get a commission on that and also you do not get a commission on an only single product but the whole cart.
Yes, this is the most amazing thing that you are getting a commission on the whole cart while you only referred him for a single product. It is also applicable if anyone not buys your referred product and anything he buys you will get your commission on any product he buys. There are websites like Amazon, Flipkart, eBay, etc. Have their affiliate programs.
Affiliate marketing vs Multilevel Marketing
|Affiliate Marketing||Multilevel Marketing|
|In this only you can affiliate products to anyone.||In multilevel marketing, your affiliated or referred person can refer to anyone and he also can make a profit.|
|It makes a branched structure||Multilevel marketing makes a pyramid structure.|
|It has a win-win situation for all and nobody bears losses.||The person at the bottom has so much loss.|
|It is good and nobody is being cheated.||The person at the bottom always feels cheated as the persons above him gain profit.|
So in this blog, we learn about affiliate marketing and how can we generate passive income by it. Affiliate marketing is just a form of referrals but it is somehow different too.
We learned about different companies that offer us to be part of their affiliate program. We discussed how we can generate passive income by it. At last, I just want to say “Be a doer and not just a thinker.”
To start this you have to go to the website of any company having an affiliate program. Then you should read all the terms and conditions related to that program and then if you find these terms and conditions alright and wanted to start this you should click the join or sign up button.
Then they will ask you for some details and you have to fill those details and now you are ready to go.
You do not need anything to start it as it does not need and prerequisite knowledge. But if you want to become a good affiliate marketer you should be good at sales and marketing as at last, you have to sell the product whether directly or indirectly.
If you want to be good in it you should have a plan in your mind that how can you make people able to click on your link and it depends upon the number of clicks. If the number of clicks will be more than more people will convert to the products and eventually buy the product.
Yes, this is worth it. It can be a good source of passive income. You have to work hard to start and when you create your public than it becomes easy for you to do affiliate marketing.
If you are good at sales and marketing you have a high chance of doing good in it. As it highly requires these skills.
Want to read? How to generate a rental income? Passive Income Guide