Your small business can make additional money from its website, blog, and social media pages with affiliate marketing. This type of marketing involves selling products on behalf of others for a commission. You don’t have to deal with inventory, and you can leverage the website traffic and social media followers you already have.
Some of the largest internet retailers, including Amazon, offer affiliate programs. Once you sign up and receive an affiliate ID, you can start making money.
What Is Affiliate Marketing?
When you sign up for an affiliate program, you receive an affiliate ID. This code identifies you as the traffic source when you send a visitor to a merchant page. It is embedded in the affiliate links you promote on your website or social media pages.
For example, suppose you have a health and fitness blog and sell vitamins as an affiliate. Each bottle sells for $50 and costs the merchant $20 to procure and distribute, resulting in a margin of $30. The merchant pays one-third of margin, or $10, for each sale that originates from your affiliate links.
You put a banner on your website and promote your affiliate links on Facebook and Twitter. During the first week, you send 10 buyers to the merchant site and receive a commission check for $100.
Creating an Affiliate Account
Creating an affiliate account is simple. Identify a merchant that offers an affiliate program relevant to your business, and then sign up as an affiliate.
The largest affiliate program on the internet is Amazon Associates. It offers a tiered commission structure based on how many items it ships based on your links in a month. The lowest tier is 4% of revenue, but the commission percentage increases with the number of items you sell.
Choosing What to Sell
Your affiliate items should be relevant to your business without competing with products you sell directly. Suppose you have a personal training business that caters to local clients and also develops workout and diet plans for remote customers. Your website and social media pages are thriving with traffic, and you’re interested in diversifying revenue streams. This presents an opportunity to make additional money using affiliate links for supplements that your company doesn’t sell. You can find products through a larger affiliate network or go with an affiliate program offered by a retailer that specializes in selling vitamins and supplements.
Incorporating Affiliate Links in Your Content
The last step is incorporating affiliate links into your website content. One option to promote affiliate products without disrupting your website content is to use banner ads. These appear at the top or bottom of your website or in sidebars – done tastefully, they can attract visitors’ eyes without appearing spammy.
Text links offer another option. If you go this route, be sure to make them blend into your content and not jolt the reader. For example, if your website has a page about meal prepping or dieting, mention that the right multivitamin is important to a balanced diet, and provide an affiliate link to buy the product that you recommend.