Affiliate marketing is one of many ways you can monetize your site or make money blogging. It’s also a very popular method of making money, as people have been increasingly searching for “affiliate marketing” on Google since 2016 and 8 out of 10 brands run an affiliate marketing program. So what is affiliate marketing? Well, in this article, you’ll learn about that, as well as how to create an affiliate marketing website in WordPress.
What is Affiliate Marketing?
Affiliate marketing is a type of marketing that a business rewards people who refer others to purchase their products and services. While the referrals aren’t employed by the business, they receive a percentage of the sale. In most cases, the affiliate marketer builds a website with content about the product, or shares their sales referral link on their social media channels.
The affiliate marketer uses the power of their influence, whether by website, video, email newsletter, word of mouth, or social media to promote their content and the products they are referring to. In most cases, affiliate programs are free to join, and about 94% of affiliate marketers participate in multiple programs.
Why You Should Consider Using Affiliate Marketing
Any business is a risk, and that includes affiliate marketing. Here’s some pros and cons of choosing affiliate marketing.
Pros & Cons of choosing affiliate marketing
Pros
Free to join
Easy and fast to start
Potential to earn a lot of money
Lots of different affiliate programs with different products and services to choose from
You can do affiliate marketing from anywhere
Cons
You earn only when someone buys using your referral link
You’ll need to take time to write about what products and services you’re promoting
Affiliate programs could change commission rates whenever they want
No promise of how much money you will earn
Some programs have a lot of affiliate marketers to compete against
Pros of Choosing Affiliate Marketing
Free to join
Most affiliate programs are free. You won’t be asked to pay any fee to invest in the company. The company is already relying on you to sell their stuff.
Easy and fast to start
It’s easy to sign up to an affiliate program and unless it has specific qualifications, you should be approved immediately. You can even start with a brand new website to promote the products you’re affiliating with.
Potential to earn a lot of money
Not all products are a winner, but you may have some programs that people may want to buy. The key is to try each out and you can always stop promoting what doesn’t work.
Lots of different affiliate programs with different products and services to choose from
Some affiliate programs only offer one product or service, and others may offer multiple items for you to promote. You can choose as many as you like.
You can do affiliate marketing from anywhere
Affiliate marketing doesn’t require you to work in an office, and with set hours. You can do it anytime and anywhere. For example, maybe one of your affiliate programs is about something related to the beach, and you happen to be on vacation. You can create little videos and take pictures of your experience, while promoting the affiliate referral link to what you’re selling
Cons of Choosing Affiliate Marketing
You earn only when someone buys using your referral link
In order for you to earn money from a sale, the customer has to use your referral link. It’s important to send that, rather than just telling them the company’s general URL, so you can earn a little cheddar.
You’ll need to take time to write about what products and services you’re promoting
Affiliate marketing isn’t a get rich scheme. You’re going to have to create content about the things you’re selling.
Affiliate programs could change commission rates whenever they want
You have no control over what happens with any affiliate program, other being a part of it. The company can remove the product, close their program, or adjust the commission rate whenever they want.
No promise of how much money you will earn
While you might know the commission rate for each sale, you’re not guaranteed how much you will make within a certain amount of time.
Some programs have a lot of affiliate marketers to compete against
Some affiliate programs have a lot of participants, so that means if the commission is worth it, you’ll need to make more effort in making sure your way of selling the product is more convincing to the customer.
Where to find Affiliate Marketing Programs to Join
Many businesses have their own small affiliate program. Even Verpex has an affiliate program. Here’s some larger affiliate marketing programs you might consider trying:
Many of these affiliate programs contain a lot of products from various businesses, or provide a whole network that you can pick and choose to sell on your own site.
Types of Affiliate Marketing Websites
There are a lot of different types of affiliate marketing websites. Here’s just a few of them:
Deals or Coupon Website
Price Comparison Site
Product Reviews
Affiliate Blog
https://torquemag.io/2017/03/build-your-own-affiliate-website-using-wordpress/
