If you’ve been following the course from the first video you should by now know what affiliate marketing is, know what kind of mindset that’s needed to succeed and what you need to get started.
One of the things mentioned in the last video was, you need to join affiliate programs to start promoting other peoples stuff.
An affiliate program is basically just a free marketing program that you can sign up to via a company or vendor and receive a commission for helping generate sales or leads.
ALL AFFILIATE PROGRAMS ARE FREE!
If you’re asked to pay a fee to join an affiliate program, I recommend avoiding it as they should be paying YOU.
Types Of Affiliate Programs
Most affiliate programs are set up very similar to one another but each will have their own policies, terms and conditions and selection criteria.
Some will auto approve you and others may review your application, sometimes you will get rejected but don’t give up.
In the first video I explained that affiliate marketing is promoting other peoples stuff and receiving a commission for some kind of performance based action.
I also explained what some of those performance based actions are.
As you learn more about affiliate marketing and how affiliate programs work, you will come across acronyms and industry jargon.
It’s good to know what these are and what they mean because you will see them mentioned in your travels as an affiliate.
Here are some you may have already come across:
- CPA = Cost Per Action
- CPI = Cost Per Install
- CPL = Cost Per Lead
- CPM = Cost Per Thousand
- PPL = Pay Per Lead
- CPC = Cost Per Click
- PPA = Pay Per Action
- PPC = Pay Per Click
- PPV = Pay Per View
- EPC = Earnings Per Click
- EPM = Earnings Per Thousand
- CPS = Cost Per Sale
- CR = Conversion Rate
- CTR = Click Through Rate
- AM = Affiliate Manager
Commission Structures and How You Get Paid.
Not all affiliate programs are created equal.
Some will have a set commission and others will have a percentage of the sale you refer.
It’s probably good to know that not all pay by the same payment methods, some will pay via direct deposit, check and some may pay via paypal.
Each will be different so always read the payment details section or find out by asking your affiliate manager.
Most companies that have an affiliate program will have an affiliate manager that you can contact. If not, they will have a support email that you can contact.
It’s good to build a relationship with the affiliate manager because you can ask them questions and they will sometimes up the percentage or increase your commission rate if they know you’re sending lots of sales.
Some affiliate programs will pay higher than others.
Clickbank is a digital marketplace where people can sell their digital products like eBooks, Videos and memberships.
Most vendors who have products in the Clickbank marketplace offer 50% to 75% commission for each sale you refer.
So if you promoted a product that cost $47 and the commission rate is 75%, you can earn $35 per sale you refer.
A lot of the time you can make a lot more than that too, especially if the vendor has an upsell.
Not to bad right?
But, if we take a look at another popular affiliate program such as Amazon’s affiliate program (Amazon.com one of the biggest online retail stores that sell mostly physical goods that get shipped to your address), well they only pay you a maximum of 8% commission.
So if you sold a product that cost the same ($47) and the commission was 8%, you can earn up to $3.75 for that sale.
Now, don’t let the numbers distract you because you can make a LOT of money with both types.
Some products will convert better than others.
During the course I will be mentioning these two affiliate programs a lot but there are literally thousands of them that you can join.
Affiliate Programs You Can Join
- Amazon.com (Amazon Associates)
- CJ.com (Commission junction)
- Google Adsense
The list goes on and I will add to it over time. Each will have different products you can promote as an affiliate.