MASTERCLASS: Day 1 – Myths and affiliate definitions
MASTERCLASS: Day 1 – Myths and affiliate definitions
Getting started as an affiliate can be overwhelming, so why not start with our 7-day Masterclass and avoid unnecessary stress!
So, you’re just starting out as an affiliate marketer, but you’re not sure as to what it entails. The following Masterclass will help you demystify your responsibilities as new blood in this industry. Over the course of a (fictional) week, you’ll learn myths about affiliate marketing, how making money online actually works, the basics you need to have covered, how to set up your own goals, how to monetize your traffic, what payout types are available and more. Ready to take the plunge?
Day 1 – Myths and affiliate definitions
Welcome to Day 1 of our Masterclass
We often hear “earn easy money online,”, “make billions from your couch,”, “how to build a fortune, being a single parent of thirteen kids with no legs, but an Internet connection” and other such catchphrases.
At the end of the day, don’t we all want just that (minus the leg issues)?
You probably have the common sense to know such things in life really are too good to be true: these ads are often misleading and deceitful. Most of them want to make you think that quick and big money is attainable without any real effort.
While it’s true that a fair number of people have found success by earning money online, you have to understand that for many, it takes years of hard work and experience to reach this point.
But you seem ready to pull up your sleeves and start learning, or you wouldn’t be here reading this masterclass, right?
Stick with us… and learn how the best affiliates in adult got their slice of this billion-dollar pie.
1 — It’s easy
We said it before; it is not easy. Just like any business really, you’ll need to put in the effort if you want to see results. There’s no magic wand here: it’s all about perseverance, dedication and learning how to adapt.
The affiliate marketing industry withstands a constant influx of new affiliates, one of the reasons being how hard it can be, especially when you’re just starting out.
Here’s the truth that you might not want to know:
- It’s time-consuming
- It’s competitive
- It’s very dynamic
So if you’re serious about this business model, prepare to face, and hopefully overcome, many challenges.
2 — It’s a “Get Rich Quick” scheme
Who wouldn’t want to strike gold on the first try? We see how some super affiliates are making mad bank—sometimes as much as $100,000 per month or more—and think it might happen to us overnight. You want to boast about buying the latest Tesla model or take a selfie with your McMansion.
Reality check: super affiliates or for that matter, any successful affiliate (as in, who makes money online) worked their asses off to reach the point where they are today. If you’re blogging, sales might only pop up after the 3-6 month mark.
Do you see the problem?
Waking up from this “nightmare” by realizing that affiliate marketing takes time, dedication, planning and effort—it’s not exactly what you would call instant gratification, right?
3 — Once you’re set, it’s all passive income
Picture this: You’re laying on a sandy white beach (or bathing in rooftop pool), sipping a drink while watching your bank account grow, doing nothing but enjoying life.
Nice, isn’t it? The truth is, unless you win the lottery, this is unlikely to be you.
Passive income might be the ultimate goal you’re pursuing, but know that there’s no such thing. Affiliates need to adapt, no matter how lucrative their campaigns, blogs, etc. are. The upkeep costs to remain competitive are REAL.
Surprised? There are literally millions of predators in this jungle we call the Internet—sometimes hunting down the same prey and ready to reduce the competition at all costs.
So while you’re relaxing, others are coming up with new strategies to leave you with nothing but bones to gnaw on.
LET’S SPEAK AFFILIATE FROM NOW ON, SHALL WE?
The words “affiliate marketing,” “conversion,” “provider,” “CTA,” and “traffic monetization” may be some of the most commonly used words in the business—but do you really know what they all mean?
Let’s start with a couple of definitions to make sure we speak the same language and refer to the same things.
“Affiliate marketing is the process of earning a commission by promoting other people’s (or company’s) products. You find a product you like, promote it to others and earn a piece of the profit for each sale that you make.” source: Pat Flynn’s Smart Passive Income
You know that web marketing consists of displaying a product or service to influence web users. Well, affiliate marketing was built on this same principle, with one important twist: it’s based on conversion performance.
In other words, it means that you only get paid when a visitor completes a desired action (i.e., registers on a site, pays for something, etc.) and that’s what is called a conversion. Desired goals may vary, but the most common is to convert a web visitor into a paying customer.
How does it work?
You [the affiliate] send traffic to the advertiser’s product by promoting one (or many) products/offers. The advertiser(s) will, in exchange, pay you a commission for every action executed by your visitors. It is important to note that while the provider(s) pay you for certain actions (i.e., getting paid for every lead sent to a cam site, or having a visitor watch a certain video) he still expects, in return, a qualified lead that will generate sales for his company.
What is a niche?
A niche is a smaller segment of an entire market. You’ll need to find the niche you’re interested in working with because trying to target the whole population and promote a large range of offers will most likely not get you the results you are hoping for.
Here are some tips:
- Find the right audience for your content
- Visit the tag section of websites to spot popular content
- Use catchy, yet relevant titles
- Find and build original and interesting content to share
- Use Google to find popular search elements or keywords
After a while with a niche-based site, you will get targeted organic traffic without having to pay anyone or get into media buying to get visitors to your site.
You can also build an email list using a simple email magnet on your site. You can also put ads and offers on it related to the niche you are targeting.