One of the benefits of running a blog or online business is that you can “make money while you sleep.” Visitors can go to your site 24 hours a day and take actions that make you money. They can buy your products or find links to someone else’s products that result in you earning an affiliate commission. How can bloggers and influencers get started with affiliate marketing? We’ll walk you through positioning your audience to drive sales. What are the best programs to join as an affiliate marketer? How much can you earn in a day, a month, a season, or a year?
One of the most well-known affiliate programs just announced a headline-making change.
Amazon announced a major reduction to affiliate commissions for its Amazon Associates effective April 21, 2020. Amazon Associates are marketers who refer sales to the online retailer and earn a percentage of the sale. The Amazon affiliate reduction for furniture and home improvement items is more than half. It went from eight (8) percent to three (3) percent. If you refer someone to a grocery item on your blog or social channels, before the cut you’d earn five (5) percent. After the cut, you’ll make just one percent.
Influencers and content creators across the globe were disappointed by the move since the Covid-19 pandemic saw a spike in online sales. Even major publications like Buzzfeed and The New York Times feature gift guides and products that refer sales to Amazon and earn a commission.
While these changes may sound like a deterrent to becoming an affiliate marketer, there are other options out there that include much higher commissions. In fact, you can earn as much as 50% on affiliate sales for some online products. Let’s look at other options for earning commissions through online sales.
What are affiliate networks?
Affiliate networks connect products and marketers together to start an affiliate relationship.
Think of it the same you recommend a product or service to a friend. You bought a pair of socks that are cozy, stretchy and colorful. But instead of just telling a friend about it on the phone – you send them a link to the store where they can buy it online. Because you shared the link, the sock maker thanked you for the referral and gave you a percentage back for their sale.
For bloggers, an affiliate network is a goldmine. You can be connected to products sold online. When you share their links on your blog and social channels with the proper disclosure, you can earn a commission and bonuses for sales.
Here are some of the most popular affiliate networks:
- Amazon (Amazon Associates)
- CJ (formerly Commission Junction)
- ShareASale
- eBay Partner Network
- Target Affiliates
- Etsy Affiliate Program
- Overstock Affiliate Program
- Flexoffers
Many of these are familiar brand names like Target and eBay. Networks like Commission Junction are connected to large and small brands to facilitate affiliate relationships.
How can you make money as an affiliate?
Once you join an affiliate network, you sign a contract and agreement terms. Payouts are outlined. Terms and restrictions are spelled out.
An affiliate manager may provide marketing copy, banner ads, and direct links that will help drive sales.
For each sale you help drive as an affiliate marketer, you earn a commission. The commission can be a percentage or a flat rate.
What are affiliate links?
Once you join a network, you are given an identification number or username that helps track your sales.
Your affiliate link will be connected to your account. They will track your sales and bonus opportunities. You can visit a dashboard to see your account overview, which clicks are performing best for clicks or sales. There are important terms to know for affiliate marketing
CTR: Click-Through Rate
Just like you’re interested in the open rate, or the percentage of people who open your newsletter, a click-through rate is the percentage of people who click a link on your site. For affiliate marketers, clicks are important because they lead to sales.
PPC: Pay Per Click
Affiliates and advertisers will pay marketers for each click to their links.
CPC: Cost Per Click
This is the same as pay per click.
CPA: Cost Per Action
For each action a visitor to a link takes, you can get paid. Ex. You could get paid for driving sign-ups to a brand’s newsletter.
How much can you earn?
You must reach a threshold or minimum to get paid as an affiliate marketer. For instance, Amazon requires that you have earned at least $10 before you’re paid as an affiliate to a bank account or Paypal account. Others, like ShareASale, require you to earn as much as $50 before you’re paid.
Payments are sent 15, 30, or as many as 60 days after a sale is completed.
In an informative Q&A video, affiliate blogger Kari Jordan of Northshore Mama shares how she can sometimes earn $8,000 a month through affiliate blogging.
WATCH:
How to Generate Revenue Through Affiliate Marketing
CLICK TO TWEET: How to Earn Money Through Affiliate Marketing for Bloggers via @TheNetworkNiche #affiliatemarketing #affiliatecommission
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