What is affiliate marketing? The concept is simple, I will describe it to you today. You do not need to be an economist or have read many books to understand the concept of being an affiliate.
Let me start with a story, one day I wanted to buy this MacBook I am using. I had not bought these kinds of machines here in Uganda so I did not know from whom to buy. What I did is I went to a local sales platform and searched for MacBooks the brands that I was interested in. There it was, this baby that has made my life simpler and continues to do so by the day. I found someone who represented a certain business. He then took me to his supplier and got me a good deal.
This is what an affiliate does. Its funny though here in Uganda this kind of business is looked at as shoddy. I think it is because people are not upfront about what amounts they want to make from this kind of marketing strategy so the whole thing makes one look like a thief but when done properly its a business model that can help you save a lot of time.
Affiliate Marketer: this is simply that person that stands in the middle of the seller and the buyer. I think its selling knowledge really. Since I did not know where to buy the Mac this guy knew and was selling knowledge to me.
Affiliate: Someone who knows what you need and directs you to the proper place. He is the go in between consumer and seller
Some of the top reasons that make it hard to start a business:
- Initial capital investment: before you reap you have to sow, this goes for all businesses. This principle has cause if not the most failures in business then the most deterrent factor. As a young entrepreneur, landing a good startup capital can be something tough and so this has caused many to give up on their dreams.
- Infrastructure: a lot of times you find you need a lot of input in terms of infrastructure to get your business started. You need to rent a place or buy land to start. This can also be very tough to deal with when trying to start a business as a young entrepreneur with a small capital.
- Marketing Structure: to whom will I sell the product? that is another question to answer when beginning out on a business venture. Finding the right marketing for your business can be tough. I used to have a farm of layers, we harvested about 40 trays a day. It was tough finding the people to take these eggs. We had to move around from door to door asking people if they were interested and most times we were turned down.
- Gaining traction: say you have some of the questions above answered, you start out but the time needed to get traction. To make a name for yourself can be tough. It is a tight space to live in though it is possible. However, it is not favorable for a person starting out.
So what should we do? The answer is affiliate marketing. How does affiliate marketing answer some of the questions above?
What if we found a way to leverage already made products with their own name? Let's say what if you were to sell a product that is well known that it reduces the resistance that new products get? That would solve one of our problems of gaining traction.
For infrastructure what if you can leverage the already available marketing platforms? what if you were to do your marketing on facebook for a smaller fee. You can be able to reach the world with minimal amounts of money. You could spare yourself getting a house to sell your goods since the goods are already stored in the stores of the product owner?
The above points reduce your need for capital investment significantly: you do not need your own product because the other products you are selling are already made. Therefore you don't need capital investment to begin up, what you need it to signup and make commision on the already made products.
Makes perfect sense right?
My question now is what are you going to use this information for? This is the kind of information that can change your life, it changed mine too. There was a time I was stuck jobless even when I had a job it was not sufficient I craved financial independence and I am now working towards that. I have begun to see some results from this model I am talking about.
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Thanks for reading. Till later.