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What Is Affiliate Marketing

So in this post, I'm going to be explaining how the affiliate marketing industry works. And exactly what affiliate marketing is. I'll be defining terms for you and I'll be boarding everything for you right on this whiteboard right here. Affiliate marketing is sort of a jargon-filled complicated industry.






 They're all these terms. Advertiser, publisher, traffic source, etcetera. That hasn't any aiming for people in normal daily life.

But I'm going to attempt to really break things down for you in a way that you can understand. I'm going to be using multiple examples and diagrams on this whiteboard to help you understand this territory.

This will be especially interesting for you if you want to get into affiliate marketing. It's a very lucrative world. I do affiliate marketing myself and I run a multi-million dollar business.

I started earning millions of dollars in my young 20s. And you know hopefully, this will give you a good basis for understanding this industry.

So, the first thing you want to understand about affiliate marketing is what it is is it'scommission-based marketing. It's selling products on a commission-only basis online.

Now, it's very similar to door-to-door salesmen or salespeople selling used cars or telemarketers. Basically, these are people that are calling you on the phone or that are going door-to-door.

They're selling the encyclopedia Britannica 100 years ago. Now, these salespeople would say, "Hey, you'll buy the Encyclopedia Britannica for your family. It's 100 bucks."

And if they sold the Encyclopedia Britannica to you, $100 went to the company and you know maybe they pocketed $50 or something like that. Whatever it was. The company kept some money. The customer paid the cash to form that happen. Same thing with selling cars.

 If you buy a car from a salesman on a lot for a thousand dollars, maybe $800 of that is going to the car lot and $200 of that is going to the salesperson and you know it came from the customer. Now, in affiliate marketing, it's very similar.

It's almost the exact same thing. You have company, you have a customer and you have an affiliate. Now, the company gives the product to the customer and the customer gives the money to the company.

The affiliate's job is to connect the company with the customer. And in return, the company pays the affiliates some money and the affiliate connects the customer with the company, right? So, it's a big triangle. You know it's a pyramid scheme.

It's a pyramid. Its pyramid. You know, it'snot a pyramid. They could turn it and it's different. It's just basic commerce, okay? It's direct response sales.





Now, what we call it in affiliate marketing there are companies that have offers. That's what we call the products that they sell. So for instance, let's say going back to the EncyclopediaBritannica example.

The company that sold Encyclopedia Britannica might have other things that the salesperson could sell the person. They might have encyclopedia Britannicas.

They might also be selling of tutoring services to help people's children learn English or learn history. So, you know like an actual service to help people, you know, learn more.

A company can have multiple offers. They can have multiple products that they provide the Commission's on. Now, generally speaking, there are tens of thousands if not millions of companies that have affiliate programs.

It gets very complicated to find all of the different affiliate programs that somebody might want to market. So, the way it works is we have what's called affiliate networks. So, what is often the case is an affiliate working with an affiliate network.

Now, an example of affiliate network Clickbank, ShareASale, Avangate Commission Junction. Amazon is an affiliate Network. Walmart has an affiliate Network. EBay has an affiliate network. Target has anaffiliate network.

With lots of different products from lots of different sellers that you can earn a commission on. So, an affiliate might log in to let's say amazon. Amazon's Affiliate Network and they can find any product that they want to market all in one place.




They can choose a lot of different ideas of products to market. Now again, the way affiliate is marketing to the customer is through what's called a link or URL. And in other videos, if you would like to find out the fundamentals of doing affiliate marketing.

We're going to have my assistant put up a card on this YouTube video so you can go see my playlist onYouTube. My free course on the way to do affiliate marketing. Or you can subscribe to my channel and you'll get my free course on how to do affiliate marketing.

 But you'll get a link and you can advertise that link on Facebook posts on Snapchat on Instagram. You could put it on, you know, send it to somebody through text message. You could send the link to somebody through email.

 It doesn't really matter how you send the link out. You could put it on a postcard and mail it to somebody. It doesn't matter. What matters is that somebody clicks on it, that's how you connect people with these companies. Now when a customer buys a product from one of the companies that you recommended.

Let's say they bought a product on Amazon that you recommended. They bought this book. What the affiliate network will do is they will pay you the money. So, the customer pays the affiliate network. Let's say 2 dollar signs. And the affiliate network can pay you 1dollar sign. So, they get money and you get some of it.




You get. That's your commission for making that connection. Now, some samples of affiliate marketing companies to form it really dead easy in your mind are for instance Expedia.com.

 If you've ever booked a flight online and you've used Expedia Priceline Orbitz or any of the other companies that you can book flights through.

All of these companies are affiliate marketing companies. Expedia.com does not own any airplanes. They don't own any flight patterns. Expedia is an affiliate. You goto Expedia.com and you buy from one of the airlines.

You are paying United or American Airlines some money. And for making that connection for Expedia.commaking that connection, they are getting a commission for connecting you with that flight. To use some more examples. It is the same logic as Airbnb or Uber.

Affiliate marketing to me is essentially the monetization of word-of-mouth marketing. It's a person or marketer getting a commission in exchange for referring a product or service to another customer.






Affiliate marketing has changed tremendously over the past decade as the internet has evolved and the number of channels has evolved, everything from social to email, etc.

We've seen people, very novice beginners kind of give it a go and start sending emails out and to today where people are building entire audiences around specific industries and they're becoming experts around those particular niche markets.

So, we're seeing influencers evolve that are recommending products and services that are not their own but they're other companies but people go to them to get that information.

Affiliate marketing is one of the most efficient forms of advertising because you're only paying out and only giving that affiliate marketer commission when a sale has already been made.

From the affiliate's perspective, it's fantastic for them because they may not be capable of building a product or offering a service but what they're good at is building audiences and selling other people's products. 

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