1. What is affiliate marketing?Affiliate marketing is a promotion and income generating system where you, as an affiliate marketer, earn a commission for promoting a product or service. The most frequently used payment arrangements include pay-per-sale, pay-per-lead, or pay-per-click compensations. Affiliate marketers generally operate by owning a website where they drive traffic and sales to their represented companies.
For example, if you represent a clothing manufacturer like L.L. Bean you would have a website dedicated to clothing or outdoor wear. Your website could use a number of tools including content with embedded links, banner advertising, and promotional content to encourage your website visitors to click your designated link through to L.L. Bean. Depending on how you’re compensated, if the visitor then makes a purchase at L.L. Bean you are compensated a percentage of the sale.
Affiliate marketing is credited to have been developed by CDNow.com and Amazon.com. Experts were initially critical of the programs however Amazon claims more than 1 million affiliates worldwide.
2. What can I expect to make as an affiliate marketer?
There are many naysayers popping up who say that affiliate marketing is on the decline. However, many affiliate marketers will tell you this just isn’t the case. There is still a tremendous amount of money to be made as an affiliate marketer. How much you make is largely dependent on your compensation agreement, your chosen niche, how much work you put into your business, and your competition. Experts agree that the key to affiliate marketing is to stick with it. Profits will increase as your business and website grow.
3. What are expected start-up costs?
One of the benefits of being an affiliate marketer is that there are very few startup costs. Basic startup costs include a:
• Website
• Domain name
• Computer
• Phone
• Fax/efax
If you already have a computer, then the startup costs are extremely minimal. Other costs will include writing copy for your website. You can write your own copy to minimize these costs. Advertising, including Pay-Per-Click campaigns and placing banner ads in ezines and relevant websites is a great way to send traffic to your websites, however it can be costly. When placing ads or using PPC, consider starting small to keep costs low and test your campaigns to optimize return on investment.
4. What skills do I need to be successful?
To be a successful, and profitable, affiliate marketer will want to have some basic research skills. What are you researching? Plenty! Obtaining the keywords that will generate the most profit, the products that will sell the best and pay well, which advertising and marketing means will work best for your products, and most importantly…who your target market is and what they want.
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