What is Affiliate Marketing? | #021

Getting started with affiliate marketing isn't complicated and in this episode, Adam explains just how easy and beneficial it can be to your business, regardless of industry or market. Episode Discussions: What affiliate marketing is and why it's important How big of an industry is it? The appeal of affiliate marketing The use of affiliate marketing in your business How to get involved   (1:29) The draw of affiliate marketing: Involves someone other than you creating something and paying you a commission to sell to someone else Passive income generated without the need to create any additional products or services or offers Income can be generated around the clock (2:11) Who's involved?   The Producer Initially ends up creating the product or service you're going to be selling. Has done much of the work   The Marketer (you) Markets and sells product to end consumer The producer pays you a commission. The more you sell, the more you make Runs with very little additional time, energy or effort.   The Consumer - The last person involved in the transaction and who ends up ultimately buying what you're selling.   (4:15)  Affiliate marketing is mainstream.   Businesses pay others to do their marketing for them and split the profits with them Useful monetization strategy for your business Accessible to anyone Affiliate marketing industry is massive and anticipated to grow to over $6.8 billion over the next 5 years   (5:12) How to get involved in affiliate marketing Where many internet marketers got their start Many companies have an application process to screen and qualify some of their affiliates Portray yourself as a professional Have website, active social media channels, headshots, testimonials, email lists, track record of affiliate success (if possible) Small affiliate partners exist who let you try selling their product Enables experience and testing out of industry (6:33) Purchase their product Apply it and get results, inform business you'd like to share their product with the world Demonstrates familiarity and understanding of product to help promote and sell effectively and ethically.   (7:14) Takeaway: Affiliate marketing is selling someone else's stuff for a commission. To find an affiliate offer, use a search engine: Type in your industry or market and the word "affiliate".   Contact Adam: [email protected]   Click here to subscribe via iTunes Modern Marketing on Stitcher Modern Marketing on Pocket Casts