It is everywhere! The 4th industrial revolution is affecting us all, so naturally like with all technological advancement there is an opportunity on the other end of the spectrum. What do I mean? I mean there is a growing trend to make money online…
This trend will only continue to grow in proportion to the technological advancement, as more and more branches of industry are beginning to adopt technology, many people will be left jobless! What does that mean? It means that people will actually look to the online space to generate an income and start home-based businesses.
During this process, people that are interested in this business model are going to have to familiarize themselves with certain core concepts that are absolutely critical to either the success and failure of their online business(es). And Affiliate Networks being one of them.
So What Are affiliate Networks And Why Are they important?
They are essentially a place that has online products and also a place where affiliates can pick products to promote. It is much more complex than that, and that’s why I have to break it down piece by piece, because this step is absolutely critical to the success and failure of any online business, if you don’t understand affiliate networks you won’t be able to earn money online with the affiliate marketing model, it’s that simple!
So there are 4 key factors that you have to know:
- The affiliate networks – these are websites that offer a platform for publishing online products, this can be anything from health-related products to software, or training. And yes, you can choose a niche other than the Make Money Online niche.
- Product Vendors – These are basically people that have a product, but are looking to expand their online business and increase their sales & revenue. What they then do, is that they publish their products to the Affiliate networks and then they will classify their products accordingly on the advertiser’s(1) platform.
- Affiliate marketers – These are people that have a steady supply of leads and traffic, or have started a blog related to that niche, but have no product to promote, what they then do is that they join/sign-up with a network of their choosing and they search for products to promote on the network’s marketplace.
- Customers (what’s a business without these) – These are usually what is referred to, as traffic or leads, these are people looking to buy products online.
Now that we understand all the basics related to the model, let’s illustrate this in order to fix it more into your memory…here’s an illustration of how the buying process works:
As you can see it’s very ‘simple and yet difficult’ for people to understand this model, but it is very lucrative for all parties involved, the pay is fair…can you imagine if your boss split the profit margins with you 50/50? Would you still be having a job or would you have established your own company?
That’s the power of affiliate marketing, if you do it right, like with any physical business it will continue to generate income for you, for months to come with little to no effort on your part – after the initial stages, that is!
Why are the A.N Important When People Can Still Do In-house Affiliate Programs?
The problem with some(not all) in-house affiliate programs, is that they can easily decide not to pay & refund their customers, so that they can keep their conversion rates higher – this is not uncommon.
What I also realized is that, if all affiliate programs were in-house, they would barely be getting any traffic which in turn leads to sales.
Hope you were able to understand affiliate networks a bit better and thanks for stopping by. Please let me know what you think in the comments section, or let me know if you have any questions that you would like answered.
P.S Don’t forget to share 😉