What is Affiliate Marketing, and how do you make money from it?
It is where you advertise someone elses website details, or product details on your blog, or website. Each time someone clicks on the advertisement, and then ends up buying the product (or maybe just signs up to be a member) - you will get paid the agreed commission.
Some companies pay 75% or more - so you have the ability to make a good income from affiliate marketing - you could make $100 from just 1 sale, for doing nothing but placing an ad on your website or blog - and if you have a free blog (check out part 1 to see where you can go to get a free blog), then it's literally money for nothing.
To give you an example of affiliate advertising:
Let's say I was advertising www.grizzlynut.co.nz and was being paid $2, each time someone signs up as a member.
I would place something about Grizzlynut on my blog - either a small text ad, a banner ad, or a video ad (the ads are generally provided by the Advertiser so you don't need to worry about making your own - all you have to do is copy and paste some code into your blog - easy as pie).
Each time someone clicks on my ad, and then goes through to become a member - I would be paid a commission (and the commissions are generally fairly good) .
The affiliate networks track the ads (via cookies etc.), and pay you accordingly. The good thing about affiliate marketing is that the visitor doesn't need to make a purchase on that day - they may decide 2 weeks down the track - "Yeah that was a good buy" and go back & make the purchase. With the right tracking in place - you will still get paid for the lead!
So.... now that we've been through what affiliate marketing is, how do you go about joining an affiliate program? Well.... there are a number of Affiliate Marketing Networks that bring you a wide range of Affiliate programs (so you don't need to go to each company individually). Some of the bigger players are:
www.clickbank.com
Clickbank is an affiliate network that concentrates primarily on electronic goods (so electronic books, software etc..) that can be downloaded immediately.
The good thing (for you) about clickbank is that because the electronic goods are so competitive, most of the retailers offer very good commissions (up to 75%) - so... if you are selling a $100 product - you are going to get $75.
Because there are soooooo many different products on clickbank you are sure to find what you are looking for (for example I would just go to the marketplace and type the keyword money in the business section - 57 relevant products would come up - I could place any (or all) of them on my blog).
The other good thing about clickbank is that you don't have to apply to individual companies - all you have to do is find the product you want, and about 5 seconds later - it will be on your website.
The minimum payout is onlye $US10.
www.commissionjunction.com
Commission Junction are one of the most respected, and well known affiliate networks on the planet.
It costs a fair bit of money to set up a Commission Junction Account, so you mainly get the big players advertising there (such as Strawberry Net, Gate.com etc.). It is easier to make money with the bigger players, because people are more willing to buy from them (they have a better reputation), which means it is more likely that people will click on any links you provide.
You do have to apply to each program/merchants individually (it's very easy to do - basically just the click of a button). Around 95% of the companies reject or accept your website or blog automatically (based on pre-defined criteria such as country, type of website/blog etc.), and the other 5% of merchants will approve your website by coming and having a look at it.
The minimum payout is only $US25 (it is possible to recieve this commission rate after only 1 sale).
www.clixgalore.com
Clixgalore is very similar to commission junction except that it is much ceaper to advertise on the Clixgalore network - which means that there is a much bigger variety of advertisers.
Although it probably depends on the blog or website, and people have had varying degrees of success with each of the affiliate networks I have personally made the most money (clicks where people decided to purchase a product) with my Clixgalore account.
This was due to the fact taht I find it is easier to link to a direct product with my clixgalore account, than with any other affiliate network.
For example I can promote Oscar Perfume and direct the purchase directly to the web page selling the perfume - rather than promoting the website itself).
The minimum payout is US$50 or AUD$100 or UK£35 or €60.
www.commissionmonster.com.au
Once more commission monster is very similar to Commission Junction & Clixgalore.
The merchants that use Commission Monster seem to have more stringent requirements that merchants on the other networks. Most of the merchants at Commission Monster are Australian based - but you can promote these from any country.
Minimum payout is $AU50.00
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