First of all, before we delve into this topic in more depth, one should know exactly what affiliate marketing is . In reality, this form of marketing is simply the act of giving a commission in exchange for traffic.
It is a bit of the same principle as an advertisement where you pay for visibility. The big advantage of affiliate marketing is that you only pay for performance, which is when someone buys your product or service and not just for visibility.
To give an example, you can have a product, like sports t-shirts, and you ask people who have the same audience as you to promote your product.
In return, if these people sell your product to their listeners, whether it is through their website, podcast, social media or whatever, they receive a percentage of the sale, whether 25%, 30%, 50%. or even 75%.
It’s the same principle with services. If, for example, you are doing related training to help self-employed workers manage their expense accounts, you can ask bloggers or influencers in this field to share your training with their audience.
It is very important that your audiences match. If you sell this training and ask your friend who works in a completely different industry to share with his contacts, even if your friend wants to help you and make some money in the process, the results will not be very conclusive.
The Benefits of Affiliate Marketing
As you can see above, there are several advantages to using affiliate marketing , regardless of your area of expertise.
Indeed, the big advantage of this type of marketing is that it is based on trust. If a person agrees to be an affiliate, it is because they trust your products or services because they offer them to their listeners.
If this was not the case, it is highly doubtful that this person would agree to be associated with your product or service. It’s a bit like word of mouth. A study has shown that 92% of people will buy if a product, service or the like has been recommended by friends or family members.
It’s enormous! This has a lot more value than trying to attract customers without knowing them with cold leads as they say in the industry. This is because the people who agree to be an affiliate for your business are doing so for the right reasons.
Not only does a trusting relationship take time to build, so they won’t want to lose credibility with their audience by selling something they themselves don’t believe in. Either way, it shows under such circumstances.
Easier to sell products or services?
When you become an affiliate, do not hesitate to ask for as much information as possible to keep your listeners well informed. With affiliate marketing it is easier to sell products but the profit margin is smaller whereas with services like training it is more difficult but the margin is bigger.
Another big advantage and the beauty of online affiliate marketing is that it happens automatically, which is not possible if your business is not on the internet.
In some cases, entrepreneurs could use affiliate marketing for re-marketing. If you know that people have already purchased one of your products through an affiliate link, there is a good chance that they are interested in other items in your inventory.
In terms of the percentage offered for sale when a listener uses your affiliate link, that can vary greatly. You should know, however, that by using this type of marketing, it is like buying the relationship of your affiliates with their respective listeners, so it comes at a price.
The percentage varies on average from 30% to 70%, but it can be less and sometimes more. That’s why it’s important to find people who are similar to you, who share the same values and the same type of audience.
Can You Make A Living With Affiliate Marketing?
A question to which I am asked an honest answer. Can You Make A Living With Affiliate Marketing ? The answer is yes, there are several examples, especially in the United States, of people making a living (well a living) just from this marketing.
At the level of the Francophonie however, it is difficult to say, but one thing is certain, it can give you a good additional income or allow you to supplement your end of the month.
Conclusion on Affiliate Marketing or How to Build Wealth Using the Talent of Others
In summary, yes affiliate marketing is a great way to earn extra income by tapping into the audience and expertise of your affiliates.
However, it is important to turn only to people you trust, who have the same values as you and the same kind of audience, otherwise this collaboration will not have much impact.
