Many people are surprised at the number of clever ways people make money online .
Most Internet surfers could identify a banner or text ad, but the majority could not tell you about performance marketing also known as affiliate marketing and pay-for-performance marketing.
Affiliate Marketing is a way of marketing products and services online and getting paid per lead or sale.
It traditionally includes:
A retailer and a publisher, sometimes known as an affiliate.
For this article, we define a "publisher", as an independent party (like you or me) that promotes products or services of an advertiser in exchange for a commission on leads or sales.
How to get paid for affiliate marketing?
- An affiliate displays ads, text links, or product links on its Web site, in email campaigns, or in search listings and is paid a commission by the advertiser when a visitor takes a specific action, such as filling out a form, making a purchase or subscribing to a service.
- A merchant, also known as an advertiser or retailer, is a Web site or company that sells a product or service online, accepts payments and completes orders.
- If you place an ad or link to the merchant's products and/or services on your Web site and the merchant pays you a commission for leads or sales that result from your site.
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What it takes to succeed in affiliate marketing?
Those publishers suited best for affiliate marketing have some consistent characteristics:
- They must have a Web site designed for a specific niche of consumers or audience. While not all affiliates have content sites, it is a simple way to enter into the affiliate marketing industry and a solid foundation to build upon if you later branch out to other marketing channels such as search engine marketing
- You should have some basic HTML skills to be able to insert and track advertisements such as banners, buttons and links.
- A good affiliate marketer will set amount of time per day to dedicate to learning affiliate marketing depending on how much money you want to make and the number of Web sites you have.
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Affiliate Marketing Terms - Learn The Language
Just like in any industry, affiliate marketing has its own language. Don't be intimidated; pretty soon these terms will be second nature.
Here's a list of the most common terms and words used in affiliate marketing:
Application Service Provider "Affiliate Network" (ASP) – An ASP is an online network that is accessible through the Internet instead of through the installation of software. It is quickly integrated with other Web sites and the services are easily implemented and scalable.
An example of an ASP is Click Bank or Max Bounty.
Commission Payout – An amount of income received by a affiliate for some quantifiable action such as selling an advertiser's product and/or service on the publisher's Web site.
Click-through Ratio (CTR) - Also known as a click. The action a consumer takes when they are referred from a Web site through a link or advertisement and is taken to another Web site.
Click-through ratio is the percentage of click for the number of advertising impressions displayed.
Cost per action or Cost per Lead (CPA/CPL) - A metric for online advertising where a rate is set for every action that is taken by an end-user. It is also known as pay for performance.
Cost per click (CPC) - A metric for online advertising that determines how much each click costs the publisher.
Cost per thousand impressions (CPM) - A metric for online advertising where a rate is set for every thousand impressions.
Conversion rate- The percentage of visitors who take a desired action. The action that determines conversion is determined by the advertiser and may be a sale on the advertiser's Web site, a completed lead form, or another action.
Earnings per click (EPC) - A metric for online advertising that determines how much each click is making the publisher. EPC minus the CPC gives you your pro
Impression- The viewing of an advertising banner, link, or product.
Search Engine Marketing (SEM ) - The act of marketing a Web site via search engines. This can be done by "natural" or "organic" search which refers to all unpaid search results based on relevance in the content site or "paid" search which refers to all pay-per-click advertising (such as on MSN, Yahoo! or Google).
Search Engine Optimization (SEO)- The process of increasing the amount of visitors to a Web site by ranking high in the search results of a search engine. Varied techniques are used by content site publishers to improve a Web page's results.
Transparency - A characteristic of the Max Bounty or ClickBank, where the performance of advertisers, publishers, and ads is published openly within the Max Bounty Dashboard or ClickBank Marketplace. Affiliates or Publishers can create a Max Bounty or ClickBank account at no cost.
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You are now geared up with the basics of affiliate marketing! Getting your first sale through affiliate marketing can be such a rush but don't let the gurus trick you into fast and easy money.
Just because you add an affiliate link to your site, doesn't mean the money will pour in!
Like anything it takes time, practice and commitment - But I promise you if you put in the work to this craft it can be very rewarding.
Just look at some of the commissions other affiliate marketers are making on ClickBank RIGHT NOW!!
Are you new to affiliate marketing?
- Having trouble making money online? Did you find any of the tips and tools in this article useful?
Please share your experience or opinions in the comments below.
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