Affiliate marketing is a marketing partnership program that allows individuals to become ‘Affiliates’ and rewards them for successfully referring them to a business. Affiliate marketing programs differ on what is considered a conversion. It could be a website or page visit, a purchase, or a sign-up.
Typically, affiliates are rewarded on a commission system, often including performance tiers based on number of conversions. Affiliate marketing is a popular and cost-effective method for businesses to grow their brand awareness and customer base.
How do I become an affiliate marketer?
5 steps to becoming an affiliate marketer:
Seek out affiliate programs that your audience would find helpful.
Choose which of their offers you can add value to and promote.
Get the official affiliate link for each offer.
Share those links on your blog, social media, and (if possible) your email list.
Every time somebody uses your link to make a purchase, you’ll collect a commission.
How much money can you make as an affiliate marketer?
There is a strong correlation between experience and affiliate income. According to recent data, less than 10% of affiliate marketers produce over $50,000 in affiliate revenue per year. The majority of those surveyed said affiliate marketing made up between 5-20% of their total income.
How much do affiliate links pay?
Depending on the industry, affiliate links may be anywhere between a few cents (Amazon affiliate program) and $1,000+ (high ticket affiliate offers). Most programs tend to have average commissions of $5-10.