Affiliate marketing is one great source of passive income. People are joining affiliate marketing due to the ease of money making. To reveal the secrets, we’ll share how to earn passive income with affiliate marketing and how you can do that using RetargetKit.
The terms affiliate marketing, passive income might not be new to you. You skip those parts and jump on- How Affiliate Marketers use RetargetKit. But some of you might be new to this field so we’ll give you a clear idea on it.
What is Affiliate Marketing
Adam Enfroy describes it beautifully on the BIGCOMMERCE website.
“Affiliate marketing is the process by which an affiliate earns a commission for marketing another person’s or company’s products. The affiliate simply searches for a product they enjoy, then promotes that product and earns a piece of the profit from each sale they make. The sales are tracked via affiliate links from one website to another.”
This strategy is a popular tactic to drive sales and generate significant online revenues. With mutual benefits, both the brands and affiliate marketers quickly grow at large scale in a short time of period.
How Affiliate Marketing Works
One of the most important things you need to understand about affiliate marketing is how it works. Sharing links anywhere is considered to be spamming. You cannot share links in every Facebook group, any random website comment or in an irrelevant topic. You need to act on customers’ demand.
Affiliate marketing works by sharing the responsibilities of product marketing. These responsibilities include three kinds of companies. Without them, the whole process is incomplete and difficult to work.
- Product Creators: The one who produces the product. It is not mandatory for the producers to be a marketer or hire a marketing team. They can launch an affiliate program where affiliaters register to promote the product and bring sales to the product creator.
- The Affiliater or Advertiser: The one who enrolls in the affiliate program, promotes the product and receives a commission only when the sale is made through him. Anyone can be an affiliate marketer. All you need is proper guidelines to be a pro in this field.
- The Consumer: The one who purchases the product. If the consumer or customer clicks on the affiliate link and purchases the product, only then the affiliate will get paid.
Affiliate Marketing Strategies
In this digital era of 2020, if you want to earn passive income with affiliate marketing and remain top of the competition, you need to follow some strategies. Let me discuss this matter in detail so that you have no confusion regarding it.
- Recommend familiar products: Before recommending a product to anyone, give it a try. Get to know it thoroughly. Recommend only when you are satisfied with it. The reason is, if you suggest a product or tool that you haven’t tried, you can lose the trust of your audience. This might cost you heavy in the future. Another thing you need to consider, you should not force your audience to purchase any product. The more accommodating you are and make quality proposals, the more probable your guests will return for your mastery.
- Promote products from many different merchants: Try not to tie up your resources in one place. If you focus on advertising one product or one seller, you are left with their payments only. As an affiliate marketer, your goal should be to promote the best products in the market of different companies. This strategy will broaden the quantity of commissions you bring in and make a constant flow of income.
- Keep an eye on your conversion rates: Conversion rate is when your link visitors purchase the product and become the company’s client you are promoting. Tracking your conversion is one of the major points. If you only share the links but never keep track of how many of them are converted then you will never know what your audiences like the most. This might cost you by losing clients in the future.
- Know your affiliate traffic sources: You should keep your focus on the traffic sources and public that is visiting your site. Traffic sources may incorporate natural, paid, web-based media, referral, show, email, or target traffic. It’s essential to know where your traffic is coming from and the socioeconomics of your crowd. This will help you to earn passive income with affiliate marketing.
How Affiliate Marketers Use RetargetKit
Now that you are an affiliater and know the tips and tricks of affiliate marketing, let’s get you to the point on how affiliate marketers use RetargetKit to promote products and get a big amount of passive income.
RetargetKit is an All-in-one retargeting toolkit created for digital marketers, affiliate marketers, social media marketing agencies, digital marketing agencies etc. It is developed only to help your marketing grow.
Here are some points that will get you the idea on how affiliate marketers use RetargetKit and earn passive income with affiliate marketing.
- Retargeted short links: Long garbage URLs often makes a bad impression. And most of the time, people find it to be spamming. So affiliate marketers use URL shorteners to shorten the link and keep track of it. They use many links in one single day. So it is mandatory to keep track of each of your links to monetize your passive income. RetargetKit offers custom branded short links by which you can use your domain for shortening the links. Using your own domain will establish your image as a brand and increase link visitors’ trust over you.
- Trackable Curated Page: Once you enroll in multiple companies’ affiliate programs, it becomes tough to share multiple links simultaneously. You can share the links in a blog post. But if you don’t own one blogging site and only promote on social media, then you have to wait minimum an hour between each post. But with RetargetKit curated page, you don’t have to own a blogging site. That’s the beauty of RetargetKit. The curated page is perfectly designed and polished landing page. Here you don’t have to work hard on writing content and spend hours on promoting products. All you need to do is include all the affiliate product links and share the URL of the RetargetKit curated page. Anyone who clicks the link shall see all of your product links in one place. And the best part is, all of your links will be trackable to let you know which product audience liked the most and how many of them converted into your client.
- Promote product with Bio Link: Since Instagram doesn’t allow its users to promote any link other than Bio, affiliaters use this link for product marketing. Here all of the links are listed on one magnificent page giving them the option to not only promote the products but also get connected via other social media. RetargetKit allows affiliaters to track these links to give them an excellent opportunity to earn passive income with affiliate marketing.
- Collecting leads: Affiliate marketing also involves email marketing. And for that, affiliaters need to grow their email list via lead generation tool and Call-To-Action method. RetargetKit offers lead generation for collecting social verified active accounts. And Call-To-Action for collecting leads from other websites. So when the email list is grown, affiliaters promote the products by sending emails.
- Provide giveaways: Audiences love giveaways. And on special days and occasions like- Black Friday, Christmas, New Year, people look for discount coupons and codes for product purchase. Since these sale discounts are displayed on banners or in Call-To-Action (CTA) popup, you need that service too. RetargetKit CTA does that job for you. You can use the CTA for this purpose or showcase banners using RetargetKit custom widget.
- Trackable video tutorials: Most of the affiliaters promote products making video tutorials. This way, they get so many audiences to share the resources and clients of a specific niche. People share useful resources and by sharing multiple times, the links lose the tracks. As an affiliate marketer, if you are too working in this manner and want to keep track of your shared links, then try RetargetKit. This way, you can monitor your link conversions and earn passive income with affiliate marketing.
Earn Passive Income With Affiliate Marketing
To earn passive income with affiliate marketing, one needs to work smart. If you are not investing your time in affiliate marketing with the right strategy, then you might probably be wasting your time. This might bring a very less income.
Passive income means to get a side income from any business. So you can make affiliate marketing as your primary passive income source or a secondary one.
But in this field, you need to use the right tool that will save your time, money and effort to get you a great number of revenue at the end of the month.
Closing
Affiliate marketing is the ideal solution to earn passive income. A motivated affiliate marketer can achieve a high amount of passive income even by working from home without worrying about producing their own product or service.
Read our other blogs to learn more about different methods of earning passive income and how RetargetKit can help you to make your way much easier.
