Ever wondered what affiliate marketing is all about? This list of Frequently Asked Questions (FAQs) and their answers will teach you almost all you need to know about affiliate marketing.
What is Affiliate Marketing?
Affiliate marketing can be simply described as a marketing technique which entails using and reviewing a merchant’s product, which may be goods or services on a blog or web post, newsletters, social media posts or YouTube videos. The Affiliate (as the Affiliate Marketer is referred to) could be paid either on a Pay Per Click basis or from a percentage cut of sales figure basis. The terms and conditions of payments are usually pre-agreed between the Merchant and Affiliate.
What categories of people qualify as Affiliates?
Almost anyone with a good internet connection can be an Affiliate, as there are few requirements for the job. Basic skills such as being able to build an audience, gain their trust and set up standard business models to drive revenue might be required. In a world that is growing more digital every day, skills like video editing may also come in handy to increase the chances of success.
What platforms can be used to promote Affiliate Links?
There are a variety of platforms to choose from when it comes to promoting affiliate links. Websites or blogs, social media posts and comments, digital products like e-books, email lists and newsletters, as well as YouTube videos are all suitable platforms for affiliate marketing.
What is the best way to sign up as an Affiliate?
Through programs and networks are the means of signing up as an affiliate. Programs basically entail having a one-on-one arrangement with the company selling the product while networks may consist of many affiliate programs. The first step to take as an Affiliate is to declare your niche, which is the category of products you wish to market. Affiliates are usually advised to pick a category which aligns with their passions or interests. The next step after deciding a niche is to visit the Merchant’s website, fill out a form and wait for approval.
What programs or networks are available for Affiliates?
There are programs and networks available for almost every category of products. This is why it is essential to decide first on a niche as it helps to streamline the programs and networks that affiliates can join.
What are the chances of making money from Affiliate Marketing?
Although affiliate marketing requires a lot of work to be done upfront initially, the chances of it paying off in the end are generally high. The bottom line is to be as informed as possible about the products you are promoting, understanding the audience you are trying to reach, being consistent in sharing quality content and persevering.
What types of products can be promoted with Affiliate Marketing?
Most online services and companies that need the internet to sell their products promote their sales with affiliate marketing.
What are the types of Affiliate Promotion?
Promotions can be categorised based on what users are supposed to do. There is the Pay Per Lead Promotion, in which the affiliate gets paid for each lead guided to the Merchant’s website. Pay Per Sale is the most common type and, in this case, the affiliate gets a percentage of the revenue generated from sales. In the Pay Per Installation option, the affiliate only gets paid when users install the software being promoted while in Pay Per Call, it is based on every phone call by users. Some could even do a Cost-Per- Action arrangement in which the action may vary from signing up to clicks and impressions.
What are the general rules for Affiliate Marketing?
It is mandatory that a disclosure agreement be provided on the website or blog so that users are aware that it is a promotion. The reviews of the products must be honest and factual. The language should be as simple as possible, so every user can understand it, irrespective of their background. Affiliates must avoid deceiving users with their reviews at all costs.
What payment methods are used to pay Affiliates?
Different methods such as wire transfers, money orders and PayPal are used to pay affiliates. The main things to be clear about are the payment thresholds, which are when the affiliate is supposed to get paid and the payment agreement. The payment agreement simply refers to the action the affiliate is meant to be paid for, be it leads sales or impressions. All of these should be clearly outlined between the merchant and affiliate at the start of the promotion. Some networks even have payment arrangements in place for their affiliates.
What is a cookie?
A cookie is a piece of data which the browser uses to store information. Cookies are temporarily placed on the computers of any user who clicks on the affiliate link. Cookies can be valid for hours, days or even weeks.
What is a Product Data Feed? Product data feed describes a file of all the products sold by a merchant which is uploaded to networks for the Affiliate’s use.
What is RSS Feed? RSS Feed refers to a system that lets sites auto-update based on links, banners and products displayed on the site.
What is Earning Per Click (EPC)? EPC means the stipulated amount that has been agreed on for an affiliate to earn with each click.
What assets are to be provided for Affiliates? Assets like Facebook messages, tweets, blog banners, posts, how-to articles, videos and images are to be provided for affiliates by the merchants. Most of the time, assets can be outsourced on networks or on the web.
Who has control over the web or blog posts? The affiliate has control over posts, although they are obligated to obey the terms and conditions stated by the merchant at the commencement of the promotion.
What major affiliate networks exist? ClickBank, which has access to affiliate programs in almost all niches. The high commission rates, which range between 50-75%, make it a favourite amongst affiliates.
LinkShare, which has access to popular affiliate programs and offers a 20% commission with useful tools for affiliates, is another option.
What major online networks have in-house affiliate programs? eBay and Amazon both do.
What popular Affiliate Management tools exist? WP- Affiliate is a plugin used in managing all programs at once. It can be used for auto registration, payment and management and is also integrated with WooCommerce, WP Shopping Cart, eShop, and other e-commerce
Is it mandatory for an affiliate to have a website? It is not mandatory to have a website to be an affiliate, though all affiliates require a platform on which they can share their affiliate link.
Just as in any other business, information is key. Every affiliate needs to be well informed about the products they are promoting, which is why it is important to choose a niche that aligns with your interests. Above all, be as creative and consistent with your content as possible and always try to understand your audience and what they need.