In the world where there is a cutthroat competition for money, who doesn’t want to be richer? There are various ways to become rich; one of them is by having multiple sources of income. Nowadays where people are done with 9-5-office routine, they are searching for various interesting alternatives to earn money. And this is one of the reasons why there had been a drastic surge in online jobs over the past few years. There are multiple ways to generate money online like by graphic designing, content writing, data entry, website developing etc. Some start blogging, some take-up web designing, some make videos while others add to their content for the money. One such way of making money online is called Affiliate Marketing. So let us understand this Affiliate Marketing in detail-
Affiliate Marketing is a type of marketing arrangement in which an online merchant pays commission to the affiliates for sales generation and traffic created by the referrals.
For better understanding let us consider an instance, I have a website and I am selling certain products on it. My affiliates will post links to my products on their respective websites. This will attract traffic to my site and will enhance my sales. For this, I will pay my affiliates for bringing traffic to my site and will also provide them with the certain commission over the sold products.
First of all, it begins with people desiring to do affiliate marketing; contacting the sites that offer affiliates programs. Next, is registering with an account that requires to fill in certain mandatory details. Once all this is done and you are a member of their affiliate program, you will be asked to browse through specific products of your choice that you want to refer. After making your choice, you will be provided with a link to the product. It is a unique link through which they will track the traffic and sales that you generated and your income will be based on the stats. You are supposed to paste that link on your respective website. All the affiliate programs have pre-defined TOS. For instance, they will provide you with a certain time period within which your sales commission will be determined. Let’s say this period is 180 days, so, the views and sales within the next 180 days will only be accounted. Once your income reaches their preset limit, it will automatically be transferred into your account.
The range of profit that can be earned
The amount of profit that can be earned through affiliate marketing is variable. It hugely depends on the traffic you attract and the products that were sold through your referrals. The sales commission also depends upon the cost of the product that you referred. The merchant offers you a certain percent of the price of the product as your commission. The higher the traffic and the cost of the product, higher will be your income.
So you see how easy it is to earn a passive income via affiliate marketing. Moreover, the task doesn’t really demand many efforts. The entire work is done in the beginning and rest is reaping the fruits throughout.