Over the last couple of weeks I've heard the question "What is an affiliate?" in various forms many, many times. I thought now might be a really great time to answer that for the ones that have asked, the conversations I've had and for those that have wondered but not asked. Let me see if I can help you gain a general understanding of what that means.
First, I'd like to address a few things that it's NOT. Many of the same people had these questions too and that's okay. If you don't know, it's totally okay to ask. It isn't an effortless way to make money or a get rich quick gimmick. It's not multi-level marketing (MLM) or a pyramid scheme. It's not done in exchange for goods or products from the companies and it's not "extra spending money". I actually read something earlier today that referred to it as an "easy, passive way to make extra money." I literally laughed out loud. It's not easy and it's definitely not passive and in this household it's certainly not "extra" - it's what's keeping the heat on.
When you see a disclaimer on a page about being an affiliate or earning a commission or even #ad that means you're looking at an affiliate listing. That's how you know (there are federal requirements to protect consumers and make sure the transactions are transparent). Bear in mind, I am also registered with the state and federal government as a business and have to do all the same reporting and taxes as any business.
Affiliate marketing, in a nutshell, is advertising. How?
I seek out different companies (sometimes they come to me), I research them and the programs they offer. I apply to each and they have the option based on my content, modes of advertising and audience whether or not to accept me into their program. (As do I when I'm approached by a company) Once we agree upon the terms, a contract is entered into.
When you see me share a deal, post a link to a product in something I've written, talk about a new partner, do a themed write up, review something or put an ad on the bottom or side of a webpage - that's me advertising for them. I also have a tab on my webpage (kimkulture.club) for "Partners" and that's the current list of companies I've entered into a partnership with. (I keep it current and updated as I'm constantly looking at new opportunities and eliminating partnerships that aren't the right fit.)
When you click on the links I share, it takes you to the website for that company. Hidden deep down inside that link is an "identifier" that tells the site how you got to them. When you make a purchase, I get credit for the referral to their site. In exchange for that I earn a small commission off the sale. It doesn't cost you anything and you don't pay inflated prices because of the referral - it's their payment to me for advertising for them, just like any other advertising they'd pay for.
Does it pay a lot? Well...there's a reason I am constantly asking for you to share my posts. I can't disclose specifics for legal reasons, but the amount they pay ranges anywhere from 1% to 30%. Sometimes there will be a specific "push" or item that pays more, but those are few and far between. It takes time to earn anything, but it all adds up.
How long does that tracking link stay on your device? It depends. Some places (like Amazon) only count what a person does during that specific visit. Most run a couple of weeks to a couple of months. I have one that tracks for 6 months, but I have never seen anyone else offer that. That means if you visit that site anytime during that tracking period, I earn the commission for the follow up sale as well.
Another thing - going direct to the site? While I'm glad you find what you're looking for, that doesn't have a direct monetary benefit to me. Letting me know "I remembered you told me Disney was having a sale so I ordered" is great, but unless you click through one of my links to get there I don't get the credit for that sale. I may have done the leg work for them but without that magic link they don't know that.
You know I love a good deal. Do I get to take advantage of those sales too? Of course I do, but I don't earn commission on my own orders.
When I started this I had a pretty good idea of what I was getting into. I grew up with parents that were self-employed so I know first-hand how hard it is. When it starts to come together it's unbelievably satisfying, but the countless hours, frustration, fears, doubts and never-ending work is real. It's hard. During the days leading up to Black Friday/Cyber Monday Week if I was sleeping 3 or 4 hours a night I'd be surprised. Spreadsheets, notes, metrics, projections, tracking and lists are everywhere! Most people who have whiteboards have those cute little ones they put notes on or maybe even one that they keep on the fridge. Mine? It's 4 foot x 4 foot and hangs on the wall by my desk. Yes, it's color coded and categorized too.
And that's not even including the content on the site or learning to build a webpage from the ground up and constantly updating that. Whew! "Easy & Passive" my butt!!!
So does that help? I want you to understand what I'm doing, how it works and why I'm doing things the way I am. I want you to understand why I ask for people to share things. There are some companies out there that won't give you a second glance if they think your audience is too small and that can get frustrating. You need an audience to grow your partner list, but you can't grow your audience without good partners. It's a weird dichotomy!
No comments:
Post a Comment