(as of Mar 14,2020 05:30:06 UTC – Details)
This essay sheds light on how to make money from affiliate marketing and elucidates how to build passive income streams from capitalizing on affiliate marketing opportunities. Additionally, how to maximize earnings potential as an affiliate marketer is delineated in this essay. The paradigm shift of the marketing landscape in the digital era has profoundly reshaped the digital marketing field and has allowed affiliate marketing to become a highly profitable passive income stream for entrepreneurs to avail themselves of reaping. Affiliate marketing as a marketing practice typically simply involves generating commissions by referring prospective buyers to purchase products. The affiliate earns a commission each and every time and time the product sells through their affiliate links or affiliate advertisements. With unprecedented global digital distribution capabilities of the internet combined with all the free social media platforms, it is no wonder why affiliate marketing opportunities can be so lucrative, especially for entrepreneurs that have already established sizeable brands. There are a myriad of ways to earn money though capitalizing on affiliate marketing opportunities since affiliate programs have a variety of payment options. Some affiliate programs pay per click (PPC) which means you can make money by redirecting your audience to the advertiser’s website. On the other hand, other affiliate programs offer pay per lead (PPL) which entails earning money when your audience that has been redirected to the advertiser’s website submits their contact information onto the advertiser’s website. The most common payment option for affiliates is pay per sale (PPS) which culminates in affiliates earning revenue from commissions each time the advertiser generates sales from the affiliate’s referrals. To maximize earnings potential as an affiliate marketer, affiliates should capitalize on paid advertising, social media advertising, email marketing, article marketing (Kubra, n.d.), and influencer marketing. Affiliates can utilize advertisement creator platforms, such as Canvas and Stencil, to build immerse and interactive advertisements. Moreover, affiliates need to understand buyer behavior and should research highly demanded products to choose the most lucrative campaigns to join as an affiliate marketer. Prospective affiliates should join top affiliate marketing programs and cherry pick the most in demand products to promote in order to optimize their chances for success and maximize their affiliate conversion rate and affiliate sales rate. An affiliate conversion rate above 2% denotes digital marketing shrewdness. Some affiliate programs include ShareASale, Amazon Associates, and eBay partners. By promoting products from reputable and trusted platforms, such as Amazon and eBay, it will likely culminate is higher affiliate sales rates since the prospective buyers are not dubious about the trusted websites. Affiliates can also retarget prospective buyers and even utilize a sales funnel to collect email addresses to minimize marketing costs going forward by being able to have access to an email list of prospective customers. In conclusion, affiliate marketing is scalable and can provide a substantial stream of passive income to individuals, entrepreneurs, and growing brands. By being able to cherry pick highly demand products from popular websites to promote and by capitalizing on paid advertising, social media advertising, article marketing, email marketing, and influencer marketing, affiliates can maximize their earnings potential. Furthermore, utilizing a sales funnel to build an email list and organically growing your social media channels through building your content reservoir to attract a larger audience will render affiliate marketing opportunities far more lucrative as email marketing and social media marketing begin to become substantially more profitable marketing activities to pursue.