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Affiliate Marketing

Affiliate Marketing with Royal Enfield: What Is It & How to Get Started

Smart ecommerce entrepreneurs, who are in to a growing business are aware about the fact that there is always a scope for improvement for scaling up their business. One way of going to next level is by exploring an alternate stream of income, not through a second business but exploring ways to complement and grow the existing business

MotoGB has conceptualized a lucrative revenue stream called MotoGB Affiliate Marketing for its dealers. This complete guide will walk you through how to start an affiliate marketing business, with online marketing tips and tricks to help you grow.

What is Affiliate marketing

Affiliate marketing involves earning a commission by promoting a product/service made by another retailer or advertiser. It is a monetization model where an affiliate partner, which is you, is rewarded a pay-out for providing a specific result to the retailer or advertiser. 

How it works

Affiliate marketing involves referring a product/service by sharing it on a blog, social media platform, podcast, or website. The affiliate earns a commission each time someone makes a purchase through the unique link associated with their recommendation. Commission rates vary (5-15%) depending on the company and the offer.

                                         

                                                                                                                                         Type of Affiliate Marketing's

Unattached 

The first type of affiliate marketing is referred to as “unattached,” or when you have no authority in the niche of the product you’re advertising. There is no connection between you and the customer. Often you are running pay-per-click advertising campaigns with your affiliate link and hoping people will click it, buy the product, and earn a commission. Unattached affiliate marketing is attractive because you don’t need to do any legwork. Affiliate marketing businesses rely on reputation and trust with a target audience online. Some don’t have the time or desire to build those relationships, so this type of marketing is their best option.

Related

Related affiliate marketing is where you promote products and services you don’t use, but that are related to your niche. Affiliates in this case have an audience, whether it’s through blogging, YouTube, TikTok, or another channel. They have influence, which makes them a trusted source for recommending products, even if they’ve never used it before.

The problem with related affiliate marketing is, do you want to promote something you’ve never tried before? It could be the worst product or service ever and you wouldn’t even know. It only takes one bad recommendation to lose the trust of your audience. If you don’t have trust and transparency, it’ll be hard to build a sustainable affiliate marketing business. 

Involved

Involved affiliate marketing refers to only recommending products and services you’ve used and truly believe in. “Involved affiliate marketing is the way forward,” says Elise. “It’s rooted in trust and authenticity, which is best for your audience and business.” 

In this type of marketing, you use your influence to promote products and services that followers may actually need, instead of paying to get clicks on a banner ad. It takes more time to build this type of credibility with an audience, but it’s necessary to build a sustainable business. 

Elise explains that advertising also becomes much easier. “You don’t have to hide behind expensive PPC ads and hope for clicks and sales. An organic Instagram Story or blog post about your experience with a product will go a long way.” Elise prefers this method because it’s honest and is “the only genuine way to become a trusted source on any topic.” 

Involved affiliate marketing is the only genuine way to become a trusted source on any topic.

Pros and cons of affiliate marketing

Pros

There’s no doubt affiliate marketing is worth it, given its growth in popularity. Statista estimates the affiliate marketing industry will be worth $8.2 billion by 2022, up from $5.4 billion in 2017. It’s also a low- to no-cost business venture you can profit from immensely. While industry growth is a good indication of success, entrepreneurs also take this referral marketing route for a few other reasons.

Easy to execute

Your side of the equation simply involves handling the digital marketing side of building and selling a product. You don’t have to worry about the harder tasks, like developing, supporting, or fulfilling the offer.

 Low risk

Since there’s no cost to join affiliate programs, you can start making money with an established affiliate product or service without any upfront investment. Affiliate marketing also can generate relatively passive income through commission—the ideal money-making scenario. Though initially you’ll have to invest time creating traffic sources, your affiliate links can continue to deliver a steady pay check.

Easy to scale

Successful affiliate marketing offers the potential to significantly scale your earnings without hiring extra help. You can introduce new products to your current audience and build campaigns for additional products while your existing work continues to generate revenue in the background.

Before you get too excited, know that great affiliate marketing is built on trust. While seemingly there is an endless number of products or services to promote, it’s best to only highlight those you personally use or would recommend. Even when a product interests you or fits within an existing hobby, becoming a great marketer for that product takes a lot of work.

Cons

Affiliate marketing also has a few disadvantages compared to other platforms. Before jumping in, let’s look at a few challenges you’ll face on your journey to success.

Requires patience

Affiliate marketing is not a get-rich-quick scheme. It requires time and patience to grow an audience and gain influence. You’ll want to test different channels to see which connect best with your audience. Research the most relevant and credible products to promote. And spend time blogging, publishing free content on social media, hosting virtual events, and doing other lead-generating activities. 

Commission-based

There’s no boss handing you a weekly pay check as an affiliate marketer. Affiliate programs work on a commission basis, whether you’re paid by lead, click, or sale. Companies use a temporary browser cookie to track peoples’ actions from your content. When a desired action is taken by someone, you receive the pay-out. 

 No control over program

Affiliates must obey the rules set by a company for their program. You need to follow their guidelines for what you say and how you present their product or service. Competitors must follow the same recommendations, so you have to get creative to differentiate yourself from the crowd.

Payment Mechanism

Affiliate marketing income spans a large spectrum. There are some marketers that’ll make a few hundred £££ per month and others that make six figures a year. The larger your following, the more money you can make. 

But how do affiliates actually get paid? When you choose an affiliate program to promote, you’ll notice there are different payment models. Companies also call it a price model, pay-out model, conversion type, or another variation. 

Regardless of the name, the payment model tells you what goals you will get paid for. If you’re promoting a software product, the action could be a free trial signup. For marketers that promote physical products, the goal will likely be a purchase. 

Many programs run with last-click attribution, which means the affiliate who receives the last click before purchase gets 100% credit. However this is changing, as programs improve attribution models and reporting. For example, you could share equal credit for a sale if there were multiple affiliates in a buyer’s conversion funnel. 

Five common ways affiliates get paid include:

  • *Pay per sale, where you earn a commission for each sale you make. It’s a common pay-out model for ecommerce offers. This will be our method.
  • Pay per action, which earns you a commission for a specific action. Many affiliate programs use this pay-out model because it’s broad and can be applied to different offers: a newsletter signup, a click, contact request, form submission, etc. 
  • Pay per install, where you are paid for every install generated from your website traffic. The goal of your content would be to promote mobile apps and software so that people download or install them.
  • Pay per lead, which pays you every time someone signs up for something. It’s a popular pay-out method because companies use it for sweepstakes, lead generation, and other types of offers. Cost per lead offers are common for beginners because it’s easier to generate leads than to sell products to an audience. 
  • Pay per click, a rare pay-out system where you earn commission on every click on your affiliate link. Pay per click programs are used by big merchants with a goal to build brand awareness. Customers don’t need to sign up or buy anything, just to visit the merchant’s website. 

                                                                                                                                     Becoming an Affiliate marketer

Just like running your own small business, becoming a successful affiliate takes dedication and discipline. Use the following step-by-step guide to start your affiliate marketing business.

Pick your platform and method

The first step is figuring out the platform you want to build your audience around. Every affiliate marketer has a different approach and platform. There are many affiliate marketing ideas you can choose from based on different methods:

  • Niche topic and review sites. These are sites that review products for a specific audience or compare a line of products against their competitors. This method requires you to create content related to the review space and post regularly to draw in an audience.
  • Digital content. Digital content creators include bloggers, YouTubers, or social media influencers. They create niche content that resonates with a target audience. The goal is to organically introduce niche products their audience will enjoy. This increases the chances they’ll buy and you’ll earn an affiliate commission.

 

If you like the idea and want to work together, please get in touch with us through email or just give us a call.

Email - Sales@motogb.co.uk

Contact no. – 01257485222