With the growing age of technology and the ease that comes with it in more departments, more and more people are looking for ways to use it as a source of income and find ways to work from it without having to leave their houses remotely! Especially in today's time when more and more people NEED to work from home.
One field of work that provides this feasibility is Affiliate Marketing, and it has grown exponentially in the last few years. It has grown so massively that it has shifted from being a secondary source of income to a primary source of income for many people. Many in our #CTP community (@clicktrackprofit) can attest to this.
Affiliate marketing is considered to be a part of a billion-dollar online industry and one that will only continue to grow in the upcoming years and the need for brick and mortar work locations and businesses start to dwindle even more than they already have.
No doubt starting a new job is a risky opportunity to take; either you make it, or you break it. But with the new age of modern technology, never underestimate the power you hold! But what exactly is Affiliate Marketing, and how will you know what to do if you do opt for it as a career choice? Well, worry, not! You have come to just the right place. This article series on the world of affiliate marketing will provide you details on all the ins-and-outs of affiliate marketing, and if you follow it, we can almost guarantee you success in it as well!
Turning into an affiliate marketer is a fantastic system for bloggers or vloggers hoping to up their present salary or even to start bringing in cash from their content. There are a few choices with regards to the whole field of affiliate marketing, including tactics and strategies to make affiliate marketing work for you. Before we get started on how to go about making affiliate marketing into a career, let’s talk about some much-needed basics. You know, gotta crawl before you can walk, gotta walk before you can run...
So, some of you may be asking the age old question...
What is Affilate Marketing?
Simply put, affiliate marketing is known to be a marketing arrangement by which an online retailer pays a commission to an external website for traffic or sales generated from its referrals.
If you're a beginner or new to the term of affiliate marketing, there’s a possibility all of this went completely over your head. That's okay, I am going to break it down for you...
Affiliate marketing is largely regarded as one of the most modern, quick and effective ways to make money online. While many would quote it to be a 'side hustle,' a lot of people successful at it make it their primary means of income. In simpler terms, it is described as the partnership between an individual and a business where the individual creates content, such as blog posts or videos, to market the said business's products or services. This drives an audience towards the product or service for sale and, in turn, the individual, or the affiliate marketer, earns a commission.
If you need an example, just look at nearly every single Youtuber out there trying to promote or review a product, I'll bet they have a referral link in the description...
However, this is just a basic description of what the job holds. Affiliate marketers can take upon any method that works best for them. For example, a blogger looking to get involved would probably become an affiliate through an affiliate network and would either place a button, banner or link within their blog posts, which will get their reader’s attention and drive them to the product being marketed. The more social media channels and platforms on the internet utilized, the better the product will be marketed.
See what I did there...haha...
Okay, so now that you get the idea of what affiliate marketing is, let's get into some of the history behind this budding industry.
History of Affiliate Marketing
It's a typical confusion that Amazon was the creator of affiliate marketing. Affiliate marketing started in 1989 by a man named William J. Tobin, who was the world's first web advertiser and marketer. William J. Tobin also founded PC Flowers and Gifts. He theorized the whole idea of affiliate marketing and propelled his program on the Prodigy Network (remember Prodigy... haha... showing some age here).
The model of affiliate marketing that he created included paying the Prodigy Network a commission on each deal or sale that was being made. By 1993, Tobin’s model on affiliate marketing was producing more than $6 million yearly for Prodigy. This achievement urged Tobin to bring forward his idea to the world in 1996. However, it wasn’t given any status until around the year 2000.
Side by side in 1994, a BuyWeb Program was launched by CDNOW, which revolved around the idea of music websites reviewing different albums of musicians released and then linking them to CDNOW so visitors can head on over to their site and buy the album if they liked them. This spawned a completely new business model for the music industry as well.
And while Amazon is thought to be the starter of affiliate marketing, it brought forth its associates program in 1996, even after CDNOW's venture. However, even though they were not the first to introduce the idea, they were the first ones to grab global attention to the whole idea of affiliate marketing.
The model they introduced was similar to the other ones and involved a paid commission to the marketer, which was a certain percentage of the price of the product sold. Since then, this became the general model followed by all affiliate marketers, including our new affiliate program on the Hivelist Store.
The Affiliate Marketing Business Model
The business model of affiliate marketing is one not very easy to understand, but one that can be quite rewarding once you get the hang of. Affiliate marketing is one of the most basic plans of action that nearly everybody who has brought in cash online has some involvement in. I may be a very lucrative venture, but it comes with it's shares of pros and cons, just like any other business model.
At its fundamental level, affiliate marketing is basically where you join with a business or an organization to sell their items or services. You get paid ordinarily every time somebody either purchases something or performs what was expected from them from the deal made with the business of the organization.
You are paid a commission each time you succeed in closing a deal or making a sale, and this cash is pretty much from the advertising spending plan or budget of the business that you are in partnership with during the affiliate marketing program.
Some businesses also offer rebills, which are an affiliate marketer getting paid for quite some time even after the sale has been made. Expectedly, these products are a little challenging to sell, but with the right kind of approach and expertise, they are rewarding in the long run.
So while affiliate marketing may have become common over time, not everyone can easily make it big in this line of work. However, keeping yourself well informed right off the bat may give you an upper hand. Nobody ever accused this business of being a get rich quick scheme, if they claim that kind of thing, run for the hills and find a better opportunity! It also takes allot of work and dedication of building your brand so that people trust your work on any product you try to sell them.
The Wrap Up
Affiliate marketing can be an extremely rewarding opportunity for those that take the leap to get their business started. And that is how you have to look at it, as a business! You are your own brand, and the things you market also reflect back on you. So make sure you do your research and choose your marketing opportunities wisely.
In the next article we are going to discuss the benefits of getting into affiliate marketing and some of the tools of the trade that can help you along the way!
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