What is Affiliate Marketing and How Does It Work in Nigeria?
You might heard about affiliate marketing before since it is such a trend nowadays. It is one way to earn money online. A lot of social media influencers has joined this and earn income from it. But what is actually an affiliate marketing? And how does affiliate marketing works? Here, we will discuss about affiliate marketing especially for beginner that do not know what is affiliate marketing.
What is Affiliate Marketing?
Affiliate Marketing is a type of marketing where you promote a merchant’s products or someone’s business in exchange of commission on sales. It is a way of merchants to market their business through outsource and for affiliates to earn passive income.
How does Affiliate Marketing Work?
So basically, when you join an affiliate program, you’ll be given a special link to be used for promoting on your social platforms. When someone buy the products from your link, you will get a commission.
The commission depends on the brand’s contracts, usually you can gain 5% to 15% from one product that you sold. It is as simple as that.
Even though your tasks as a promoter is simple, but it is not easy. It requires a lot of hard work and patient to be success in this field.
Type of Affiliate Marketing
1. Affiliate Per Action
It is a type of affiliate program that will pay you when you can get someone to do action. The examples of this is by answering survey, sign up for their email list or even click on your affiliate link.
2. Affiliate Per Sales
For this one, they will only pay you when you make a sale. So you will only get commission for each product you sold. They won’t pay you just for signup.
Why Should You Try Affiliate Marketing in Nigeria?
If you are wondering why should you invest your time in affiliate marketing and not sure whether this is a good one, check the reasons below!
1. Low to No Capital
In starting affiliate marketing, you only need a platform to do the promotion. One way to do it by posting it to your blog, the expense to make a blog is as low as $3. But do remember that you also need to focus in maintaining and increasing the traffic so people are interested to visit your blog.
But if you do not have money and just want to start it free, you can do it through your social media platforms such as Instagram, Tiktok, or any other platforms.
2. Fast Earning
With affiliate marketing, you can literally start making money almost straight away. As long as you successfully sold an item, you will earn your commission right away.
If you work in popular niches such as technology and fashion, then it will be easier to earn high profit. You only need to refer a certain amount customers every month to make huge money.
3. High Income
In reality, affiliate marketing has no limits, the more traffic you garnered, the more money you will earn. It depends on your strategy to attract customers as much as you can.
There’s a large and growing population of internet users in Nigeria which is perfect for affiliate marketing. You can find your own target audience to promote the merchant’s products. The more successful you promote the products, the higher your earnings will be.
4. Open of Opportunities
Working in this field will lead you to a lot of opportunities such as collaborating with few brands, channels and sometimes even media like News Networks. You can even start from Facebook that does not require you to make website. Through Facebook, it will ease you in networking and accepting brands partner.
Understand about Affiliate Marketing So Far?
Affiliate marketing can be a great way to make money online. Only by promoting products or services, you can earn income from it. This also can be done as side income if you want to earn extra money.
