Saturday Brain Storming Thought (194) 28/10/2023
AFFILIATE MARKETING
Affiliate Marketing is the process by which an affiliate earns a commission for marketing another person’s or company’s products
The affiliate simply searches for a product they enjoy, then promotes that product and earns a piece of the profit from each sale they make
Affiliate Marketers
Affiliate Marketers get paid a commission for referring customers to companies where they make purchases
Duties of Affiliate Marketer
1) Communicating with brands and businesses to discuss their marketing objectives
2) Networking with consumers, organizations and other marketers
3) Strategizing promotional efforts to meet their clients marketing goals
4) Developing plans for increasing traffic to online retailer sites
5) Analyzing site traffic data
6) Following consumer trends and adjusting marketing efforts accordingly
7) Implementing digital advertisement techniques
8) Introducing new products and services to the target audience
9) Creating and maintaining social media compaigns to promote products and services
Steps to Becoming Affiliate Marketer
1) Receive an education
2) Choose a niche
3) Build a professional website
4) Research and choose affiliate programs
5) Create excellent content
6) Continue networking with brands and businesses
Skills needed to Affiliate Marketer
1) Communication skills
2) knowledge of marketing techniques
3) Data analysis
4) Strategic thinking
5) Interpersonal skills
Parties involved in Affiliate Marketing
1) Seller and product creators
2) Affiliate Marketer or advertiser
3) Consumer
Types of payment in Affiliate Marketing
1) Pay per sale
2) Pay per lead
3) Pay per click
4) Pay per install
Advantages of Affiliate Marketer
1) Passive income
2) No customer support
3) Work from home
4) Cost effective
5) Convenient and flexible
6) Performance based rewards
Legality of Affiliate Marketing
Yes it is legal
Affiliate marketing is legal as long as the affiliate discloses their relationship with the merchant and informs their audience that they are receiving a commission of sales
Side Hustle
Side Hustle is a piece of work or a job that you get paid for doing in addition to doing your main job
Affiliate Marketing Side Hustle
1) Influencer marketing
2) Blogging
3) Promote a You Tube Channel
4) E mail marketing
5) Podcasting
6) Tik Tok affiliate marketing
7) LinkedIn promotional marketing
8) E commerce affiliate partnerships
9) SEO niche site marketing
10) Referral programs
Criteria for Amazon Affiliate
You must have a valid Amazon account and be able to promote Amazon products through an active website, mobile app or social media account
How to become an Amazon Affiliate
1) Create a website or blog
2) Navigate to the Amazon Associates homepage and click sign up
3) Enter your account information
4) Enter your website address
5) Enter your preferred store ID
6) Explain how you drive traffic to your site
7) Choose your payment method
8) Create Amazon Affiliate links
Pitfalls in Affiliate Marketing
1) Monetizing too early
2) Expecting visitors without making any effort
3) Promoting the wrong products
4) Going overboard with promotion
5) Not measuring your performance
6) Choosing only the most expensive products
7) Not understanding the products you promote
8) Copying what others are doing
9) Focusing on product features instead of benefits
10) Forgetting about SEO (Search Engine Optimization)
Types of Affiliate Marketing
1) Unattached affiliate marketing
2) Related Affiliate Marketing
3) Involved Affiliate Marketing
Tips for successful affiliate marketing
1) Build trust
2) Talk to a product expert
3) Create a product tutorial
4) Build an Email list
5) Find relevant search items
6) Consider your angle
7) Set your distribution strategy
8) Try offering a bonus
9) Keep things legal and above board
COMPILED BY:-
Er. Avinash Kulkarni
9822011051
Chartered Engineer, Govt Regd Valuer, IBBI Regd Valuer
