Kasfia Rashid - “Money Matters with Kash the Bookkeeper”
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Hello and welcome to week 2 of our 10 week Build a Business boot camp! Have you been wondering how to get involved in affiliate marketing? Affiliate marketing is a popular and effective tactic for boosting conversions, driving sales, and ultimately earning a passive income online. However, considering that it's such a dynamic and expansive field, figuring out where and how to get started can feel overwhelming. Fortunately, all it takes is some simple guidance and research. Once you understand the basics of affiliate marketing for beginners and how it works, you can use it to your advantage and increase the income you earn through your website.
Show Objectives - The Why
Affiliate marketing is a strategy in which a brand pays a commission to affiliates based on sales generated through their referrals. The key parties involved are:
Essentially, affiliate marketing is a form of profit-sharing between sellers and advertisers. The commission earned comes out of the product price, so it doesn't create an additional cost to the customer.
Whether you participate in affiliate marketing as a merchant or an affiliate, there are many advantages when compared to other types of marketing. One of the biggest draws is the amount of control and flexibility available.
For example, a merchant can create an affiliate marketing program based on the products and services of their choosing, while affiliates can decide which programs to participate in. The shared goal is getting product promotions in front of relevant audiences who are likely to convert.
Affiliate marketing is also cost-effective. Most affiliate programs are free to join, and operate on a performance-based system. This means that commissions are earned only when a consumer completes the intended action
What You Need to Know - The What
When you sign up for an affiliate marketing program, you’re issued a unique ID and a trackable URL to use in your content promoting the merchant’s product(s). When a user clicks on your affiliate link or banner ad, it adds a cookie to the user’s browser.
If you click on an affiliate link or ad, you might notice the referral code or identifier within the URL. Generally, the link looks longer than it would if you were to visit the merchant’s page directly:
As an affiliate program manager, you would use these special IDs to verify the referral source of a customer. In other words, these codes are critical for confirming and crediting affiliate partners.
Not all affiliate programs operate the same way, of course. Some common commission models include:
Pay Per Click (PPC): Affiliates earn credit any time a consumer clicks on their affiliate links.
Pay Per Sale (PPS): An affiliate earns a percentage of the referred sale.
Pay Per Lead (PPL): If an affiliate’s link results in a qualified lead, they receive a fixed commission.
Ultimately, the structure and terms depend on whether you’re using a self-hosted program or an affiliate marketing network. Networks such as Commission Junction and ShareASale are popular places to get started.
These third-party services act as an intermediary between sellers and affiliates. Although they can help with finding and managing affiliate accounts, they don’t offer as much control or autonomy as self-hosted programs, such as what you can operate through Easy Affiliate.
With the latter, you can create your own program and exercise complete control — and it's simpler than working with a third-party service.
What You Need to Do - The How
Now that we've established the basics of how affiliate marketing works, we're sure you're waiting at the edge of your seat to find out how to become one. Thankfully it is very easy to start! Follow the short five steps below!
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Next: Digital Banking with Paul Reily!
Written by Kash the bookkeeper
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