Generate Income with Affiliate Marketing

Business

news daily reporter

Thursday, March 31, 2022

Affiliate marketing is one of the best strategies on the market to drive sales and generate major commissions for affiliates. This is great for everyone involved! Brands can turn everyone into a sales rep, and affiliates can earn handsome commissions from the products they talk about and recommend frequently.

Simply put, it is the process of earning commissions by recommending other people’s products. Sales are tracked by affiliate links, so it’s also easy to see who’s driving sales on your platform and pay commissions easily.

Think about how many times people have asked you, “Where did you get that?” “What is that?” or, “Hey, what can I do to fix this?”

You give your opinion, testimonials or product name for free, even if just to your friends and family.

The beauty of affiliate marketing is that you can grab a unique link from a participating business, send that link to anyone who asks about a product, and you get a commission if they buy.

In the US, 81% of brands use affiliate marketing.

The largest platform in the world with a membership program is Amazon. It offers commissions from one to ten percent. Based on the category the item belongs to.

Once you have an account with Amazon Associates, you can start typing
any Products offered on Amazon, it generates your unique affiliate link, once you post that link, embed it on your website or send it to your friends, they can click on it, buy the item, and you get a commission.

Amazon will mail a USD check to your address in TT, or you can sign up for Payoneer and Amazon will wire the money to your Payoneer account and wire the money to your local bank account.

The workflow of how I get paid on Amazon is shown below.

I bought a new microphone for my Digipreneur FM podcast for better sound quality. I make an Instagram or Facebook story about the new mic and give the audience a behind-the-scenes unboxing.

Viewers interested in checking out the new mic will ask where I bought it or want more details. I would go to Amazon Associates, enter the name of the microphone, generate an affiliate link, and then I could post the link on social media for people to see. Once they buy, I can see the purchase and my commission on my Amazon Associates dashboard.

Many companies have affiliate programs; it’s performance sales. The more you can talk about or recommend their products, the more people buy and the more commissions you can earn.

Some people use affiliate marketing as their main source of income. While I don’t, I think it’s a good source of income to have in your business regardless of your niche.

I believe
more Caribbean businesses should have been engaging in affiliate sales.

Most businesses will hire an influencer to promote their business, but will not have the affiliate infrastructure in place to properly track sales attribution for a specific influencer.

Having a proper membership system in place will allow you to turn anyone who understands your product into a sales rep. This will incentivize them to share your product more knowing they will be able to earn a commission from the sale. If they have a website or YouTube channel, they can embed their link on those platforms so they can drive sales or visit your website for a longer period of time than an influencer shouting about your brand on social media.

Affiliate marketing has no limits on your earning potential and everyone wins. The business earns more revenue and only pays a commission when a sale occurs.

The more sales you bring to the company, the more money you make. As such, it has become one of my favorite passive income generating activities. I still earn commissions from products embedded in blogs I do in 2019 because people are still googling questions, so my 2019 blogs are popping up.

Business owners and content creators alike need to learn more about affiliate marketing as part of their revenue stream.

For more information on building your digital presence and monetization, visit Keronrose.com. You can also view Digipreneur FM podcasts on Apple Podcasts/Spotify/Google Podcasts. Follow @keronrose on LinkedIn/Instagram/TikTok.