In this blog post we will address some of the key questions many new bloggers or not-so-monetized-savvy-bloggers have: What is affiliate marketing? and What is an affiliate?
Affiliate marketing made simple (The Short Version)
Okay, let’s get down to the basics by telling the short version… If you don’t know how affiliate marketing works, it’s actually pretty simple. You sign up at an affiliate platform (e.g. Woomio) and then you can start market (i.e. tell others about) the products or services from webshops signed up to Woomio. The affiliate platform provides you with a special URL (link) to the product you want to mention which you use in your blog post. When someone buys a product from the company using your special link, you are paid a commission. Easy Peasy, right?
This is how affiliate marketing works (The Long Version)
The longer version is well… A little longer. It all starts with this: You have a blog or website and you know of a product or service you can confidently recommend to your readers.
First you partner with the company that sells this product or service. Then you market (i.e. tell others about) this product or service for the company that offers it. In this way, you are an affiliate. For example, let’s say on your blog or website, you recommend this great product Company X offers by writing a post about it. In order to make it easier for your readers to find the product you link to the product’s website in your post.
However, you don’t just use any link, you use your affiliate link which contains your special and unique ID (We talk about how you get this link in a minute.). A reader then clicks on the text link and then they are taken to Company X’s website and if they decide to purchase that product or service you will have the potential to be paied a commission. Company X can see that their new customer (i.e. your reader) was referred by YOU because of that uniquely-coded link that tells them so. Because Company X is grateful to you for the referral, they reward you with a commission. On Woomio this commission is typically between 15-20% which means you can make quite a lot of money on your affiliate links.
What if my readers don’t buy anything from the site?
That’s a question many bloggers ask whenever they start monetizing their influence on their blogs, YouTube channels etc. The cool thing is that whenever a reader clicks on your affiliate link they will get a cookie on their computer (not a real one you know, it’s basically just a tracking ID that enabels you to make money up to 30 days after the reader has been clicking on the link). If the user later visits the target website and completes a purchase the cookie will track this and you still have the opportunity to earn a commission.
However, If another blogger also have been making an affiliate link to the same company and the reader click on that link AFTER they have clicked on your link you loose the opportunity.