Earning extra money today is probably more important now than it has ever been. COVID-19 has completely changed the way we run our daily lives, how we think about increasing revenue for business, and for many, their income has been reduced and in many cases lost altogether. Even though our government has stepped up and is trying to provide for everyone, at some point in time, some of that monetary help will be reduced or even disappear. Now is the time to plan and to put something in place to earn some extra, or even full time income.
Online shopping has now exploded and will continue into the foreseeable future. Millions of people are ordering everyday supplies, household goods and millions of people are learning some new talent or skill, and the list goes on. This big shift to online shopping, like they predicted years ago, has opened up a huge opportunity for millions of people. Even though some economies are opening up the Internet will continue to be a huge part of how people purchase.
So how does this help you? If you use social media, write a blog, run a small business or are thinking of starting web site or small business, you can add value affiliate advertising to supplement or even create a full time income. This is definately not a get rich quick means of making money. Depending on how you implement affiliate marketing will depend on how well you do financially.
So how does affiliate marketing work? Many companies run what are called affiliate programs. Probably one of the first companies to do this was Amazon. They call their program the “Associates” program and just about anyone can apply for an associates account. Once you log into the associates dashboard you will find links and banners that link to various categories, and you can even link to a particular page. If you place a link or banner on your web site, on FaceBook etc., and someone clicks on that link and purchases a product you earn a commission. Commissions are usually paid after the refund policy time limit passes.
Many companies use what is called “Third Party” affiliates programs. These companies handle the affiliate programs for companies that do not want to do it themselves. You can apply to become an affiliate to these companies such as Shareasale.com. Once approved you can browse a list of companies that offer affiliate programs, what commissions they pay out, get text and banner links, API, coupons, check link tracking and more. This is important because you can track and analyse whether the affiliate company you chose is the right fit, and you may have to try different companies that are a better fit for your blog or site. Large box stores and online companies such as Walmart, Target, Home Depot, Wayfair and thousand of smaller companies use these third party affiliate companies to attract affiliates to sell their products and services.
Resist the affiliate temptation! The affiliate temptation is to put as many affiliate links on your blog or web site as possible, and placing links that do not relate to what your blog, web site or business is about. In other words avoid the “Mall” temptation. If you have a blog for example that focuses on pets then you want to place links and banners on your site that directly relate to your topic. Placing a link for furniture on a site that focuses on pets is not going to earn you any money, and in fact in may have a negative impact on your credibility.
Know your affiliate partner. Do your homework. Learn as much as you can about the company you are promoting. You don’t want to promote a company that may not have the reputation you want on your site, thus damaging your reputation. You can also write reviews about the company and/or about the products and/or services they offer. Some people may be reluctant to click on a link but after reading a great review from you, they may change their mind and earn you a commission. This also increases your credibility with your readers or customers.
This is important! As an affiliate you do not represent or are an employee the affiliate company in any way, and you cannot indicate that you are on your site. When people click on affiliate links they are taken directly to the company’s website. The company handle all sales, refunds and any inquiries. You are simply recommending the company.
Affiliate marketing, right now at this time in history, is one of the best ways to boost sales. This type of marketing to earn an extra income will continue to grow.
Next article I will tackle the many ways you can get started in affiliate marketing, even if you know nothing about blogs or web sites.