Affiliate Marketing: Is this the right product for you to make money online?

25 Dec

25Dec

Have you ever wondered how to make money offline using Affiliate programs?

Some of my friends told me that it's very easy to make money using Affiliate programs. But unfortunately, it's easy to sign up for an Affiliate program but making money is almost impossible without a good channel to get response from customers.

In this blog I want to spend time explaining how I learnt to create various channels needed to get responses from customers.

First let me start with what is Affiliate Marketing. Affiliate Marketing is an easy and simple way to make money online by partnering with various online retail companies. Affiliate marketing is a domain within marketing. This marketing channel has seen significant growth in the last 10 years.

Facts on Affiliate Marketing (Ref: SoftwareFindr)

15% of the total digital media advertising revenue is attributed to affiliate marketing.
Affiliate programs generate 15%–30% of all sales for advertisers.
More than 50% of affiliate-referred traffic comes from mobile devices.
Annual affiliate marketing spending is estimated at US$12 billion

Market Overview (Ref: SoftwareFindr)

Affiliate marketing spending is expected to grow by 10% in the next few years.
The global value of the affiliate marketing industry is estimated at US$12 billion.
The retail sector contributes 43% of total affiliate marketing market revenue followed by telecom and media
Travel and leisure sector contributes to 24% and 16% respectively.

How does Affiliate Marketing work?

For Affiliate Marketing to work, you will need to first create a channel through which you can market and second you need to find the right platform. The platform will provide a unique link that will track the sales coming from you. You will earn commissions for every conversion (purchase) made by the consumer. The commission rates vary based on platforms and products within the platforms.

Few Platforms for Affiliate Marketing

Amazon Affiliates Program

This is one of the best affiliate marketing programs that I have ever used since there is no minimum sales requirement for payouts. There is a flat rate commission structure. There is no application fee or sign on deposit. It is one of the largest retailers on the planet and can fit any product that you find related to your website or blog

Here is an Amazon affiliate link to try

Tribes India Women's Rajasthani Tribal Handmade Multicolor Shoulder Handbag (Babal Resham Banjara Chand Clas Coti) {1STXBAGRJ00095_1}

The only thing you need to know is there is a minimum payment threshold which is Rs 2500.

Here is a screenshot of the rates