Hi, friends, I am back again with some new ideas and concept.
Today, I am going to describe you an industry which is estimated to become a 6.8 billion industry by 2020.
What is that industry, any guesses? How To Make Money With Affiliate Marketing For Beginners
The industry is affiliate marketing which is also one of my favourite industries.
Amazon affiliate marketing is main among affiliate marking.
Many people don’t have adequate knowledge about the term “affiliate marketing” or hearing it for the first time.
So, let’s discuss what is affiliate marketing? and how to make money with affiliate marketing for beginners
Affiliate marketing is a concept which has invented many years before.
Most of the people used to refer to some other people’s products and that is basically affiliate marketing.
So, what is the concept of affiliate marketing?
In affiliate marketing, there should a publisher and an affiliate.
What they are going to do in this affiliate marketing, that is quite intriguing and interesting.
The publisher will publish his products on a network and the affiliate will pick up that product and will promote or share it with his audiences and start driving traffic for that particular product.
When a sell happened, an affiliate used to get a commission on basis on the sell.
So, the affiliate is completely based on commission.
Do you know that this industry will become a 6.8-billion-dollar industry in 2020?
And in the UK, 1% of GDP used to come from this affiliate industry.
You might be astonished to know that 16% of online sell comes through affiliate marketing.
These are some statistics that I am sharing with you.
You can check some more stats on Google.
Now, what are different types of affiliate marketing? Let’s dig into deeper.
There are basically two types of affiliate marketing.
- Physical affiliate marketing
- Digital affiliate marketing
What is the difference between these two? Let’s find out
Physical affiliate marketing:
In this type, you need to promote physical goods.
Nowadays, every big company is doing affiliate marketing to generate and enhance its sells.
Moreover, with affiliate marketing, they don’t need to hire many sales executive to generate business.
So, affiliate marketing actually generates a series of salespeople for you.
The best example of a physical affiliate is an Amazon affiliate marketing.
In Amazon, you can find many products are there, so you can pick up any of them and start promoting it amazon affiliate products among your audiences.
These days, you may find many people are making videos on unboxing or giving reviews on some specific products in Amazon or in other sites.
Why they are doing this?
There are two reasons for this action.
1. They just wanted to refer that product and earn something from it
2. They are looking for some Ad commissions from AdSense
If you want to plunge into this physical affiliate marketing, you need to understand the basic thing i.e. every physical good has a manufacturing cost.
Whenever a manufacturer is producing a product, he will add the manufacturing cost into the product.
So, you will get a very less commission on product selling.
Amazon offers 10-12% commission for different products.
While there are some products in Amazon where you will get only 2-3 % commission.
This means the margins are very less with physical goods promotion And that is the main issue of physical affiliate marketing.
Digital Affiliate marketing:
The scenario is completely different for digital affiliate marketing.
Digital products are the main platforms where affiliate business goes really well, and you can generate a huge profit.
Now, I am going to tell you some digital products which will help you to earn money through affiliate.
So, what kinds of digital products you should have for affiliate marketing?
Digital products have two different aspects.
1. Recurring income:
which can be promoted as affiliated products.
These products need to be recharged every month and people need to pay for that.
Once they will pay, you start getting the recurring income.
For example, you just recruit 100 people for a recurring income of $10. So, 100X10= $1000 is your fixed income per month.
When every month they will be renewing it, you will get the payment.
This is another prime reason why you should go for digital affiliate marketing.
Digital goods are not costlier.
There is only a one-time production cost and you can sell them to as many people as you want.
There are also no other big charges including the maintenance cost.
These products they sell at a high price and offer a high commission.
Usually, they offer 90% commission for these digital products.
So, these are prime differences between digital products promotion and physical products promotion.
Since we are talking about MSI (Multiple Source Of Income) ecosystems, we must include both affiliate (physical and digital) methods so that you can generate a huge income from by selling physical as well as digital goods.
The reality of Affiliate marketing
Though affiliate gives you a chunk of opportunities (selling physical goods, selling digital goods, and recurring income) to enhance your income, still, more than 95-96% of people can’t make money through affiliate.
Only 3-4% of people are making money through affiliate marketing.
What is the reason for this?
Because most of the people don’t know how to do affiliate.
When people listen to the word affiliate marketing and the commission, they start their work.
They just go to Amazon and become an affiliate by taking the links and start spamming on digital.
But affiliate doesn’t work in this way.
Affiliate is not only about spamming in the digital world, but also there should be a strong business plan if you want to get success in this field of marketing.
You should always treat this as a business and before entering this field, you should have proper knowledge of the market and the promotion part.
Moreover, you need to maintain your consistency if you want to become successful in this field.
Though you may not get success within a month or 2 months, if you give effort consistently at least for 90 days, you will get success gradually.
It is easy to earn money through affiliate.
That’s it for today. How to make money with affiliate marketing for beginners is a very good MSI ecosystem plan which will strengthen your financial background.
I am also planning to include a list of affiliated products which I will share with you in later.
if you like “how to make money with affiliate marketing for beginners”.
Just leave your comment and feedback.
You can also go to askvipin.com and say “MSI ecosystem” if you want to stay connected with me.
Thanks for your patience and keep reading.