First off, I’ll explain what affiliate marketing is.
Let’s say a company pays you to add a link to their online products store on your website, blog article, or social media posts. When a visitor to any of those mediums sees your post and is interested in the product you’ve talked about in it, they click on the link you have included to find out more. This takes them to the online store of the company which sells the product. If they buy the product at that online store, the company gives you a commission (a share of what it earned from that sale).
Read more about Business
That’s how affiliate marketing works. To recap, you:
- Register to become an affiliate marketer for a company’s products;
- Add a link to the company’s online store to your website, blog posts, or social media page;
- People click on that link, which takes them to the company’s online store;
- People buy the product from that store; the company pays you part of the money it makes from the sale.
It’s really as straightforward as that. And this is why affiliate marketing is one of the more sought after ways of making passive income in the world today.
Many companies (especially web-based ones) turn to affiliate marketing because they see it as a smart way to reach more potential customers. When affiliate marketers sign up with these companies and add links to their individual social media pages and blog posts, more people will see those products, and more of them are likely to buy those products.
So it’s a win for all parties involved.
Companies with Online Affiliate Programs
There are several companies with functioning affiliate programs. Some of the well-known ones are Jumia, Konga, Amazon, Alibaba, ClickFunnels, Shopify, Fiverr, and PayPorte. Visit the affiliate pages of these companies to find out how their programs work.
Find our comprehensive listings of businesses in Nigeria here
How Much Can You Expect to Make?
Your earnings from any affiliate marketing programs you sign up to will depend on these factors:
- Your commitment to making it work for you, by sharing links to the product store you’re marketing, finding creative ways to get people interested in those products, and implementing those strategies.
- The trustworthiness of the brand whose products you’re marketing. People will click if they think that the product is from a reputable source.
- The demand for the product you’re linking in your website or posts.
- Your own reputation or the reputation of your blog or social media page. They’ll believe your word about the product you’re marketing if they consider you trustworthy or knowledgeable about it.
If you tick all these boxes, you could make a six-figure income in one month. Exceptional affiliate marketers are also known to have been rewarded with sums approaching ₦1,000,000 for sending large numbers of buyers to the companies they are affiliated with.
Success Tips for Your Affiliate Marketing Business
Here’s how to strike gold with affiliate marketing, as told by those who have done so.
Don’t just rush off to register and place links on your website or social media pages. Focus on attracting traffic to those channels.
You can do this by sharing content that people would consider useful. Blogs in such niches as tech, fashion, and business tend to attract the most traffic. But you can set up one in any other niche that’s likely to attract interest, especially one in which you’re an expert or have a better-than-average knowledge.
Share your expertise or other useful information on your blog or social media handles (Facebook or Twitter), and grow your following. The greater the traffic to your site or social media page, the higher the chances of getting more clicks on the ads you post.
Featured Image Source: Expand Cart
Got a suggestion? Contact us: editor at connectnigeria dot com