Affiliate Marketing for Beginners: What You Need to Know

 If you’ve ever came across Tim Ferris's iconic book on how to just work four hours per week, you’ve probably dreamed of sipping a Mojito on a beach while your money worked for you in the background. One of the main ideas he constantly talks about is the concept of passive income.


After all, having an income chart like this is the main goal of many online entrepreneurs:


passive income goal sample chart

For many entrepreneurs looking to build an online business or marketers looking to monetize their web traffic, affiliate marketing is often how they got started with generating income.


Affiliate marketing is one of the world’s most popular methods of generating passive income online, and it continues to grow. In fact, affiliate marketing spend is reported to increase to $8.2 billion by 2022 — up from $5.4 billion in 2017.


If you’re looking for a complete guide to affiliate marketing, read more to find out how you can promote products as an affiliate to create an additional source of income.


What is Affiliate Marketing?

How Does Affiliate Marketing Work?

How to Start Affiliate Marketing

How Much Can You Make From Affiliate Marketing?

Are You Ready to Start Affiliate Marketing?

What is affiliate marketing?

Affiliate marketing is a performance-based marketing tactic in which a retailer, typically an online one, rewards a website with a commission for each customer referred via the website’s promotional activities. The website, often called an affiliate, will only get paid when their promotion results in a transaction.


There are typically four parties involved in affiliate marketing:


Affiliates: The promoters of the product

Product creators: The creators of the product

Networks: The networks managing the affiliates

Consumers: The end users of the product

affiliate marketing model


Source


You don’t always need a network to become an affiliate, but the other three parties (the affiliates, the product creators, and the consumers) form the core of an affiliate program.


Who are the affiliates?

An affiliate, also known as a publisher, can be an individual or a company. Typically, these are other bloggers or content creators operating in the industry of the product they are creating.


They help promote the product or service by creating content like blog posts, videos, or other media.

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