A quick and inexpensive method of making money without the hassle of actually selling a product, affiliate marketing has an undeniable draw for those looking to increase their income online. But how does an affiliate get paid after linking the seller to the consumer? The answer is complicated. The consumer doesn’t always need to buy the product for the affiliate to get a kickback. Depending on the program, the affiliate’s contribution to the seller’s sales will be measured differently. The affiliate may get paid in various ways:
Facebook is a social network, not a shopping network, so why should any business spend resources establishing and maintaining a Fan Page on Facebook? (A Fan Page, by the way, is a profile for a business or organization rather than for an individual.) Because even if members have no intention of buying anything on Facebook, the relationships you establish and community you build there can benefit your business in countless ways. Here, I reveal the top 10 ways a Facebook Fan Page can help your business.
Collaborative Environment: A collaborative environment can be set up between the organization, the technology service provider, and the digital agencies to optimize effort, resource sharing, reusability and communications. Additionally, organizations are inviting their customers to help them better understand how to service them. This source of data is called User Generated Content. Much of this is acquired via company websites where the organization invites people to share ideas that are then evaluated by other users of the site. The most popular ideas are evaluated and implemented in some form. Using this method of acquiring data and developing new products can foster the organizations relationship with their customer as well as spawn ideas that would otherwise be overlooked. UGC is low-cost advertising as it is directly from the consumers and can save advertising costs for the organisation.
Last but not least, you can also earn money online by building an online community, although the monetization strategies you can pursue will vary a lot depending on your goals. You can build a community with a blog, for example. You can also build an online forum and charge people for membership. You could even build up a Facebook group and use your influence there to sell and promote products.
Affiliate marketing is also called "performance marketing", in reference to how sales employees are typically being compensated. Such employees are typically paid a commission for each sale they close, and sometimes are paid performance incentives for exceeding objectives. Affiliates are not employed by the advertiser whose products or services they promote, but the compensation models applied to affiliate marketing are very similar to the ones used for people in the advertisers' internal sales department.
One thing that has been proving to change the face of affiliate marketing as well as the way people buy consumer products is Facebook. Practically everyone is on Facebook these days, from old to young, and all over the world. If you’re wanting to reach a big audience, you might not need to look much further than one of the most visited websites and popular apps. Facebook allows people to see your posts and updates, like them, interact with them, comment on them, and share them. For Facebook’s algorithm, the more genuine interaction you get, the more the post will be seen by others. Well-crafted updates, posts, and ads can then result in profitable affiliate sales. So how can you get started with Facebook affiliate marketing?
This question came in from a loyal reader and I thought I’d make it into a tutorial. For those of you who aren’t familiar with affiliate marketing, in a nutcake, it’s basically promoting someone else’s product with your own special link that will track if you get a sale. If you do, you will get a commission on the sale. This can be a great way to make a little (or a lot) of pocket change.
There are a couple of ways to execute this step. You can use something like the social media reports tool in your HubSpot software, and you can dig into your Page's Insights, which allow you to track Facebook-specific engagement metrics. Here, you'll be able to analyze things like the demographics of your Page audience and, if you reach a certain threshold, the demographics of people engaging with your page and posts. As we mentioned earlier, the latter is especially helpful to modify your Facebook content strategy to publish more of what works, and less of what doesn't. You can access your Facebook Page Insights via the tab at the top of your page.
By using the Facebook tracking pixel or the Adwords pixel, you can help to define your audience and work to entice them to come back to your site. Let's say the didn't finish their purchase or they simply showed up and left after adding something to their shopping cart, or they filled out a lead form and disappeared, you can re-target those individuals.
My next self-funded business hit $160,000 in revenue in its first year alone. After that first taste of self-made success, I’ve gone on to sign consulting contracts worth tens of thousands of dollars with startups like LinkedIn and Google, launch profitable online courses, and build a following of hundreds of thousands for this blog and my podcast series.
All that is to say that Facebook is still a juggernaut when it comes to interacting with consumers. While Instagram (owned by Facebook, by the way) is getting a lot of love from merchants and affiliates alike (check out our Instagram Guide here), companies looking to reach as many potential reps as possible shouldn’t ignore Big Blue. Here’s one key stat to chew on: the average Instagram user spends 24 to 32 minutes each day on the platform; on Facebook, it’s 27 to 41 minutes.
You'll want to pick a profile picture that’s easy for your audience to recognize -- anything from a company logo for a big brand, to a headshot of yourself if you're a freelancer or consultant. Being recognizable is important to getting found and Liked, especially in Facebook Search. It’s what shows up in search results, pictured at the top of your Facebook Page, the thumbnail image that gets displayed next to your posts in people’s feeds … so choose wisely.