Do you want to make money online with affiliate marketing? Then you're in luck because this is the only affiliate marketing tutorial you'll need to get started. Just to warm up, let me tell you that the affiliate industry will hit $8.2 billion in the US alone.
Don't you want your chunk of it?
The best thing about affiliate marketing is that it's almost passive income. It means you'll be making money even if you don't work after some time. But before that, you need to work hard! Even a slice of $8.2 billion will change your life forever.
So let's get started with affiliate marketing basics first.
The Ultimate Affiliate Marketing Tutorial: Basics
Before you start making money with affiliate marketing, you need to understand a few concepts about it. This section will walk you through business models and types of products and services available for marketing.
But let me define what affiliate marketing is!
What is Affiliate Marketing
It's a type of marketing in which you, as an affiliate, earn a commission from marketing a product or service that you don't own. You search for a product or service, enjoy it, and recommend it to your audience.
84% of publishers benefit from affiliate marketing, according to Web Market Support. It means there is a huge potential for you to make big bucks online. Affiliate marketing is based on a revenue-sharing model.
That brings me to the second concept of affiliate marketing, which is the business model. If you promote a product or service, the owner gets the sale or beneficial action. And you get your commissions for that.
Affiliate Marketing Tutorial: Models
There are two primary business models for affiliate marketing – cost per sale and cost per action. Understanding these models will help you pave your way into affiliate marketing.
Cost Per Sale Affiliate Marketing
With this business model, you make money only if your audience buys something through your affiliate link. It can be software or a physical product like a gaming laptop. CPS merchants are small and large. And sometimes, they have a brick-and-mortar business.
For example, Amazon Associates help you earn a commission if someone buys a product on Amazon using your link. Even if you send millions of visitors to the Amazon e-commerce store, you won't make a single dollar unless they become buyers.
Cost Per Action Affiliate Marketing
It's been speeding up for years now. This is comparatively easier than CPS because you don't need a sale to make a commission. But it's highly competitive. And most affiliate marketers may spend money to make money.
For example, Ian Fernando has spent $8000 on ads to make $9500. It's $1500 in pure profits. Not bad! You need to carefully examine all the factors. It's because a slight increase in cost per click could mean a loss for you.
Don't worry; it doesn't happen a lot if you are a niche promoter. It means you need to create a site or landing page based on the niched category. And then, if you run ads, you'll convert a lot of visitors into customers as well.
But first, you'll need to understand the type of product or service you will promote as an affiliate.
Types of Products or Services
There are many products and services you can choose from. Affiliate marketing can be for a paid membership to a course to physical products. Let me divide them into three major categories and shed light on them now.
Digital Products
Digital products can be quite valuable without a doubt. You cannot touch, hold, and taste a digital product, yet you can consume it. For example, you may enjoy music videos, but you'll never touch or taste them.
And that's why you must promote it to get affiliate commissions for you. These products often come in the form of downloadable or streamable digital files. Marketing these products is a little more challenging than physical products.
But why? It's because you compete with free content available online. Digital products that make substantial conversions include:
- Educational products like courses
- Memberships for sites
- Digital templates or tools
- Music and art
- Licenses to use your digital asset
From where can you get digital products for affiliate marketing? For that, you may want to visit some of the best networks and platforms like:
And the list continues. First, you need to create your account there. And then search for the products related to your niche. Start promoting them and earn affiliate commissions. Affiliate marketers like Pat Flynn earn as much as $100K per month.
Physical Products
If you want to go for a less competitive type of product, then go for physical ones. I'm not saying that you should opt for selling iPhones because they're still competitive in the market. But of course, you can dig into several products to choose from.
Here's how you select a physical product for affiliate marketing:
- Go to e-commerce giants like Amazon, eBay, or Alibaba
- Search the product categories
- See the positive reviews
- Select a solid product
And start creating content around it. Incorporate your affiliate link into it and make affiliate commissions for each sale. If you're interested in promoting physical products, go for Amazon Associates, the biggest affiliate marketing program.
Online Services
Some may consider it a digital product. But I believe online services are different things. Services may be based on software as a service (SAAS) or soft skills. You can promote a Saas product like Canva or SEMRush.
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