Start Affiliate Marketing For Beginners in 2024 – Over the last few years, I have been on a mission to create a full-time income online. I have tried various business models such as blogging, day trading, running a Shopify store, and running Facebook ads. Unfortunately, I have not seen much success in these ventures. However, there is one business model that I have had some success with – affiliate marketing.
Affiliate marketing has allowed me to make my first paycheck online and is currently what I am using to try and reach my goal of making at least ten thousand dollars in affiliate commissions. In this blog, I will share everything I have learned about affiliate marketing over the years, including what it is, how it works, and how you can get started as a complete beginner in 2024.
What is Affiliate Marketing in 2024?
Affiliate marketing is a performance-based type of marketing where you get rewarded for every customer or sale that you bring to a company through your own marketing efforts. You partner with a company that has a product or service you want to promote, and as you promote it, you earn a commission for each sale you generate.
There are three parties involved in affiliate marketing – you, the affiliate; the company providing the product or service; and the customer. Affiliate marketing is a win-win-win situation for all parties involved. The business gets more customers and sales without spending more money on marketing, you can earn a commission without the hassle of product fulfillment or customer service, and the customer gets a product that solves their problem.
Choosing a Niche in Affiliate Marketing in 2024
In order to get started with affiliate marketing, you need to choose a niche. Here are three ways you can go about choosing your niche:
- Choose a niche based on something you are passionate about and knowledgeable about.
- Choose a niche based on something you have knowledge about, even if you are not passionate about it.
- Choose a niche based on something you are genuinely interested in and want to learn more about.
- It is important to note that you do not need to be an expert in your niche to get started.
- Think of yourself as a journalist, doing research and presenting information to your audience.
Finding a Company and Affiliate Program
Once you have chosen your niche, the next step is to find a company that sells a product within your niche that you like. Visit the company’s website and look for an affiliate program link at the bottom of the page. If you do not see an affiliate program listed, the company may be hosted on an affiliate network. In that case, search for the company name followed by “affiliate program” on Google.
Once you are registered and approved as an affiliate, the company will provide you with a unique affiliate link. This link is used to track the sales you generate. When you promote the company’s products and generate sales, you will earn a percentage commission for each sale.
The commission percentage can vary, depending on the type of product you are promoting. Physical products typically have lower commissions due to lower profit margins. Software-as-a-service (SaaS) companies may offer higher commissions.
Saas companies that offer software as a service.
SaaS companies are companies that offer software as a service. These companies offer higher commissions, and in some cases, these commissions can be recurring. Recurring commissions are commissions that you earn on a monthly basis as long as the person you referred continues to pay their monthly subscription for the service.
When it comes to your affiliate link, it’s important to consider the cookie duration. A tracking cookie is placed when someone clicks on your affiliate link, and it comes with an expiration date. The length of the tracking cookie determines how long you have for the customer to make a purchase and for you to earn a commission. For example, if the product has a 90-day tracking cookie, the customer has 90 days from the day they clicked on your link to make a purchase for you to still earn a commission.
How to Set up a Landing Page?
Setting up a landing page is optional but highly recommended. It allows you to collect people’s email addresses, which is important because the traffic source you choose is not yours. If you lose your account on that platform, you lose your audience. However, if you have an email list, you can still communicate with your audience and market more products to them. To set up landing pages and collect emails, you will need an email autoresponder. I recommend using GetResponse, as it offers all the necessary features.
Generating traffic is crucial, and to do that, you need to produce content. Here are three content ideas for beginners:
Create a simple, honest review of the product you’re promoting. Many people in the market for a product will do research and watch review videos to see the product in action and hear others’ opinions. A review video can generate commissions even years after it was posted.
Create tutorials or walkthroughs. By educating and guiding viewers through a step-by-step solution to their problem, you can build trust and recommend a product or software that you used in the process.
Create comparisons. In a world with multiple products for one problem, comparisons help buyers make decisions. When there are too many options, people can experience decision paralysis, and a comparison video can help them choose the right product.
Making the buying process easier for the buyer is important. One way to do this is by providing a visual side-by-side comparison of products. This allows buyers to see the strengths and weaknesses of each product, helping them make a more informed decision and narrow down their options.
If you’re just getting started, there are three types of content that I recommend. These are the types of content that I have seen success with. As you gain more experience, you can branch off and test different types of content to see what works best for you.
I know I’ve given you a lot of information in this blog, and it may feel overwhelming. If that’s the case, I invite you to check out the Loaded Labs community. This community was launched by Liam James K, a well-known name in the affiliate marketing space. Loaded Labs aims to provide beginners with access to Liam and a community of like-minded individuals, helping them succeed in affiliate marketing without having to spend thousands of dollars on courses.
Right now, Liam is offering a three-day trial where you’ll get complete access to the community. You’ll also have access to all of his courses and the opportunity to ask him any questions related to affiliate marketing or making money online. Liam has experience making money in various ways, so he has a wealth of knowledge to share.
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FAQs
What is affiliate marketing?
Affiliate marketing is a performance-based type of marketing where you earn a commission for each sale or customer that you bring to a company through your own marketing efforts.
How does affiliate marketing work?
In affiliate marketing, you partner with a company that has a product or service you want to promote. As you promote it, you earn a commission for each sale you generate.
How do I choose a niche for affiliate marketing?
You can choose a niche based on something you are passionate about and knowledgeable in, or based on something you have knowledge about but are not necessarily passionate about. Alternatively, you can choose a niche based on something you are genuinely interested in and want to learn more about.
How do I find a company and affiliate program?
Once you have chosen your niche, visit the company’s website and look for an affiliate program link at the bottom of the page. If you don’t see an affiliate program listed, search for the company name followed by ‘affiliate program’ on Google. Once registered and approved as an affiliate, the company will provide you with a unique affiliate link to track your sales.
What commission can I expect from affiliate marketing?
The commission percentage can vary depending on the type of product you are promoting. Physical products typically have lower commissions, while Software-as-a-Service (SaaS) companies may offer higher commissions.
What are some content ideas for beginners?
Create a simple, honest review of the product you’re promoting, Create tutorials or walkthroughs, and Create comparisons.
What is an email autoresponder?
An email autoresponder is a tool that allows you to automate the sending of emails to your subscribers. It is necessary to set up landing pages and collect emails.
Why is setting up a landing page recommended?
Setting up a landing page is recommended because it allows you to collect people’s email addresses, which is important in case you lose your account on the platform you are using. Having an email list allows you to communicate with your audience and market more products to them.
What is a tracking cookie?
A tracking cookie is placed when someone clicks on your affiliate link, and it comes with an expiration date. The length of the tracking cookie determines how long you have for the customer to make a purchase and for you to earn a commission.
What are recurring commissions?
Recurring commissions are commissions that you earn on a monthly basis as long as the person you referred continues to pay their monthly subscription for the service.