If you know how to make money with affiliate marketing, your efforts will always pay off. This is a business strategy that can help you leverage your experience in your industry, reach a wider audience, and create a recurring income stream.
But before you get into affiliate marketing, you need to understand what it is and how it works. This model is different from the typical business style where you promote your own products and services.
Serial inventor William J. Tobin proposed a solution in 1994. He created technology that can track a customer’s journey so you know if they’ve landed on your site by clicking on a link created by another entrepreneur. In other words, if someone associated with your business created a promotion that got a customer to click through to your website, you can give them a kickback for their actions. Incentivizing referral in this way creates an arrangement in which both parties are motivated to help each other.
As long as the clicks come from your unique link, the cookies will track the client all the way to the final action. You can earn up to 50% of the purchase amount, depending on the program. More often than not, you can expect 5-7% on a sale.
The same principle applies whether you’re talking about freelancing as a copywriter, launching a cosmetic product line, or working as a consultant. A simple decision to do something from this will not bring anything. But if you understand how to do it and put in the effort towards the goal, your earning potential skyrockets.
In addition, the quality of your affiliate marketing partners plays a key role. When the product is desirable and the customer service is good, you will be much more successful.
via foundr.com
