dress | shoes | similar earrings | bag
photos by Ban Avenue
I mentioned in yesterday's post that I wanted to do a two part series this week about making money with affiliate links. Let me go ahead and preface this post by saying that even if you aren't a blogger, you can still make money (and lots of it!!) by becoming part of affiliate programs. If you're a small business owner, photographer, or just an active Facebook user, you can make money with affiliate links. I spoke about the topic at the Thrive pop-up workshop on Saturday and I wanted to share a small recap here as well in case any of you wanted to attend but couldn't!
Let's start with the basic question that a lot of you may have (I definitely did in the beginning): What are affiliate links? To answer, many companies offer affiliate programs that just about anyone can sign up for. When you sign up (affiliate pages are usually found at the bottom of a website), you’re given a special link with a tracking code so the company knows you’re the one referring customers to their site. When someone clicks on your link, you’re usually given a commission in the form of money or other rewards. Some sites only offer commission when the person who clicked on the link purchases a product from the retailer, but others (like ShopStyle Collective) offer a commission every time someone clicks on your link!
So let's talk for a second about how this can apply to you. You're not a blogger so how could affiliate links possibly be of use to you? Easy! Say your entire family loves gadgets and frequents Best Buy on a regular basis. Best Buy, like most major retailers, has an affiliate program that you can sign up for on their website in a matter of minutes. As explained above, you'll get a link to share with your friends and family so that anytime they order something online, you'll get a commission deposited directly into your bank account. Pretty sweet, right? And if they're making hefty purchases, you can profit pretty heavily off of referrals. In the next post I'll list the most commonly used affiliate programs and some different commission rates so you can get a better idea of where to start!
There are three different types of affiliate programs to choose from:
-Pay per Sale: In this program a merchant pays you a percentage of the sale price when the purchase is completed. (most popular)
-Pay per Click: You get paid based on the number of visitors you redirect to the Merchant’s website from your affiliate site, whether or not a sale is made. (less popular but can be effective)
-Pay per Lead: You get paid once the referred visitors provide their contact information on the target site by filling out a simple contact form. (most rare)
As far as which type you personally should be using, this is best determined by trial and error. If you notice that every time you share a link, your audience seems to really be clicking but not buying, then you should gravitate toward Pay per Click programs. If you have an audience that loves to shop and seems to purchase high priced items, Pay per Sale is what you should use. It will take some time to figure out which method works best for you and your readers, but once you get it down you'll know which additional programs you should and shouldn't sign up for.
I think that's enough info for one post! I'll be back in a few days with Part 2 which should hopefully be more informative. If you have any questions at all about affiliates, feel free to leave it in the comments or send me an email at firstname.lastname@example.org.
Thank you for reading!