Recently on Sheri’s Dream Catcher’s My Business Journey Journal our topic of discussion was an extension to expand our reach for growth. We learned that affiliate marking may be an opportunity to earn some extra cash. At the same time, we are trying to grow our site traffic and increase our product sales. Overall, you need to know the basics of how an affiliate program works before affiliating.
What is an affiliate?
An affiliate is a type of performance-based marketing. Also known as pay for performance advertising. Basically, a business will pay a reward to one or more affiliates for driving traffic to their business who generate sales from the affiliates’ marketing efforts. It should be noted that prior to receiving the reward/payment, an agreement is made between the two.
Furthermore to ensure our marketing efforts are cost effective and low risk, companies will only pay out when a sale is made while also offering flexibility to pay publishers for influencing sales. Besides, paying for performance rather than for clicks ensures our affiliate marketing is a low risk form of marketing.
How does affiliate marketing work?
First, you will need to find and join an affiliate program. For instance, you can research the affiliate marketing programs that best fit your creativity. Second, choose which offers and products to promote. Do you have a specific niche you are focusing on? That might be a good place to start. Third, obtain a unique affiliate link for each offer. This is important because the link you post is how the sale is tracked back to you so you can earn your commission. Fourth, share your unique links on your blog, social media platforms, or website. As a result of your marketing efforts, you have the opportunity to collect some money any time someone uses your links to make a purchase.
Keep in mind, affiliate marketing takes time. That’s why patience is a virtue and hard work pays off.
Which type of affiliate program is for you?
Affiliate marketing is not for everyone, nor is it easy. However, if you want to try it, figure out which type of affiliate program is best for you. Sometimes, a little trial and error can help too! Indeed, I am more of a content marketer because, I share unique links on my blogs and web pages. Last but not least, I have listed a few types of programs below for you to review and research on your own.
- Content marketing programs
- Coupon-site programs
- Review-site Programs
- Loyalty Portals
- Incentive Programs
- Email Marketing
- Digital assets
- Traditional Media
Do affiliates pay taxes?
Since affiliates have the opportunity to make sales and earn a commission, they will need to pay taxes on the money they earn. So the answer is yes, affiliates pay taxes. First and foremost, you will need to treat the earnings as an individual and file these earnings on your own personal tax return. Specifically, you are required to file Form 1120 with the IRS to report earnings.
How much do affiliates make?
The most frequent and biggest question asked is how much do affiliates make? The answer is really simple, it all depends on you. You always get what you give. Are you putting 110% into your marketing efforts? Are you connecting your links correctly? Are you creating great content to drive traffic?
However to answer your question because you prefer to skip to the earnings verses learning all the steps, I will share with you what I have found through my research. First, low-level affiliates can earn up to $300 a day. Second, intermediate levels earn between $300-$3,000 a day. Third, a high-level affiliate can earn above $3,000 a day. Finally, super affiliates tend to make more than $10,000 a day. Also known as a “guru” of affiliate marketing.
What are the Seven steps in affiliate marketing?
Below are the basic seven steps to help you when beginning your affiliate marketing efforts. Again, I would recommend doing some research and learning the basics before jumping into affiliate marketing. That is just my suggestion. Don’t take my word for it, trust in yourself!
- Decide on a platform.
- Choose your niche.
- Find affiliate programs to join.
- Create great content.
- Drive traffic to your affiliate site.
- Get clicks on your affiliate links.
- Convert clicks to sales.
Overall, what are the basics for how affiliate marketing works?
Because the program is simple yet complicated, I am starting to feel like I am repeating myself. First determine if affiliate marketing is for you. If so, begin with recommending a product or service to your followers through your website, blog or email list. Next, hope and pray your followers purchase the product or services using your unique affiliate link. Then, you will get paid a commission for the sales you made with your unique link.
Hiking in Hawaii with my kids!! I Envisioned, I Captured, I Roamed.
A Dream Come True for our Family
To join our Affiliate Program, visit Envision Dream, LLC at www.envision-dream.com and start earning your extra cash!
TO LEARN MORE ABOUT An Extension to expand our reach for growth-WATCH OUR FULL MY BUSINESS JOURNEY JOURNAL VIDEO DISCUSSION BELOW- Why Affiliates?
If you’re prepared and knows what it takes, it’s not a risk. You just have to figure out how to get there. There is always a way to get there.
Mark Cuban
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