This is much simpler than its name.
But before going ahead, please take a pause and analyze your suitability for it.
Do you have marketing spirit...if YES, then only please go ahead..
Now one more check please...
If you think your capabilities are not being utilized in your current job Or
If you think you have a great fire inside to do something your own but you think you have no enough courage, money, time or power to take a risk…Or
You are a student or housewife or a person who have time for 1-2 hour daily and want to do something productive with this….or
If you are a freelancer, trainer, teacher, business start-up or an entrepreneur …..
then Affiliate Marketing can be a good way for you to start earning without risks and investment.
Come on, let’s learn first what is this and how significant it's ?
Affiliate Marketing is a popular business marketing model to promote and sell products and services online. Beauty of this tactic is that one need not to buy the stock first to sale later investing huge money. Neither it require any outlet facility to setup. Let's know the facts behind it.
- Majority of people even in India have started buying products and services online.
- Due to the rise of online shopping and the amount of time people spend on social media, social media impacts consumer buying decisions.
- Consumers who are influenced by social media are four times more likely to spend more on purchases.
- Why social media has a direct influence on purchases because Social media and online shopping shortened the customer journey.
- In 2020 this number has grown significantly due to the lockdown.
- In year 2021, online retail is expected to grow exponentially.
- People make buying decision either conforming value aspects of the products either offline from friends/ relatives/ colleagues/ market or from social media research and reviews or through referrals.
- According to GlobalWebIndex, 54% of social media users use social media to research products and 71% are more likely to purchase products and services based on social media referrals. Please think back, you yourself might have made a purchase decision based on what you saw in your feed at least once, may be through a post from a friend or an ad that convinced you. This is the science behind Affiliate Marketing.
- Seeing your recommendations/ reviews/ referrals if somebody make a buying decision and purchases through your link, you will get a smart commission over it.
- Product and Services gets delivered directly to the customers by the source companies only not by the Affiliate Marketers.
Let's discuss now, how can you start it?
Step 1: Decide your Micro-Niche first. Do not afraid from this word, it’s simple. Decide the category of products or services you want to promote.
Now you will ask why only one category and not all?
The answer is beautiful that if you will promote multi-category products then people will not trust you. If you will promote one category only then they will think you as an expert of one category and will start trusting your referrals/ recommendations. Your expert image will start enhancing among them and on the basis of your recommendation people will start making buying decisions. Also it will be easy to you to do research in one category only. However through affiliate marketing there is a great scope to promote and earn from it.
Now what type of category you should decide?
Answer is, decide one category which either you have better knowledge than others around or you think you can do best based upon your strengths, capabilities or interest like I have knowledge of digital marketing training and I am passionate to do it too then I shall choose Digital Marketing Training Products/ courses to promote through affiliate marketing.
Step 2: Explore for trustworthy brands online to promote and register yourself as their affiliate marketer. You would require your bank account details and your PAN card details. GST registration is not mandatory to start in India. Collect Product Links from them.
Step 3: Deep dive into your product category, do some research on it and write product/ services reviews and comparisons.
Step 4: Start posting your research in your social media network putting your affiliate links in it.
Step 5: Keep your social network enhanced and keep researching and posting. It may take weeks or months to create influence on your network. Be patient and keep doing the same practice altering your approaches and channels. Connect more and more people in your idle time.
You can accelerate it creating a website for it. Website can be a good place for people to get your ideas and research before buying decisions and also you can redirect them to land on it through various posts. Developing your own website can enhance your reach to the more people in less time.
Then what's next....
It's your turn, now. Do analysis and start doing it. However, you can try this with any of the popular affiliate marketing programmes mentioned hereunder:
& many more
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