WHAT IS AFFILIATE MARKETING?

Affiliate marketing is a performance-based business model where you earn a commission by promoting other people's products or services. You get paid when your promotion leads to a sale or action, making it a lucrative way to generate passive income.

EXAMPLE OF AFFILIATE MARKETING

In simple terms, imagine you recommend a product to a friend after buying and enjoying it yourself. Your friend buys it based on your recommendation, and then more people buy it through their referrals. In traditional settings, you wouldn't earn anything from this chain of referrals. However, with affiliate marketing, you earn a commission on each sale generated from your referrals. Essentially, you're advertising products for companies, and they reward you with a percentage of the sales.

BENEFITS OF DOING AFFILIATE MARKETING

• It's easy to start with minimal setup requirements. You can start right from your room with just a smartphone.
• No need to create any product yourself.
• You can do it part-time, requiring only 2-3 hours daily, making it suitable for students, corp members, or 9-5 workers.
• You don't need to hire anyone or deal with customer service issues.
• You won’t have to worry about product delivery—your job is to get customers, and you earn a commission.
• Potential to earn as much as 100k-500k monthly, even as a beginner.

ROLES AN AFFILIATE MARKETER CAN UNDERTAKE

Affiliate marketers have a variety of opportunities and can work in different niches, such as:

• Realtor: Marketing real estate properties, rentals, and short-let apartments.
• Freelancing: Promoting freelance courses and services.
• Social Media Manager: Managing social media accounts for companies or vendors to generate sales.
• Advertising Firm/Agency: Working in an advertising agency to promote products/services.
• Marketer: Collaborating with any company that sells products or services.
• Entrepreneur/E-Commerce: Experienced affiliate marketers can promote their own products effectively.

These are just a few examples. With experience, affiliate marketers can tap into more advanced roles and revenue streams. Companies like Jumia, Uber, and Amazon rely heavily on affiliate marketing to acquire customers. Skilled marketers can apply to these programs to start earning.

AFFILIATE PROGRAMS TO JOIN

Many affiliate programs are available, both international and local:

• International Programs:
  • JVZoo
  • ClickBank

  Note: Some platforms like ClickBank have restrictions for Nigerian users due to fraud concerns.

• Local Programs:
  • Expertnaire: Provides access to over 80 different products for the Nigerian market.

Before entering affiliate marketing, it's crucial to gain the necessary skills to effectively promote products. Here’s a 5-step process to get started:

5-STEP SYSTEM FOR SUCCESSFUL AFFILIATE MARKETING

1. Select the Right Product or Service: Choose a product that aligns with your audience's needs and your interests.
2. Study and Understand the Product: Know the product inside-out to effectively communicate its benefits.
3. Create a Sales Process: Design a funnel or system to attract and convert leads.
4. Follow Up and Close: Engage with leads and address their concerns to close the sale.
5. Track Sales: Monitor your results to ensure you're getting paid for your efforts.

This is just the beginning. In future discussions, we’ll explore the potential pitfalls of affiliate marketing because, like any business, it has its challenges.

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