Business. Investment. Making Money

Affiliate Marketing: A Practical Guide to Making Money

There are quite a few ways you can earn money in Nigeria, one of the easiest is affiliate marketing. All that is needed of you is to link a buyer to a seller or product, once sales are completed you get a commission.

What is Affiliate Marketing?

Affiliate marketing is the process of making money by promoting or marketing a company’s products or services. Another definition would be, a collaboration between you and a company or retailer which pays you a certain commission for closing sales on its products or creating website traffic through your referrals.

From the definitions of affiliate marketing we stated above you can easily identify the 3 steps involved in affiliate marketing, which include:

  1. Promote and market a product or service to your audience through recommendation
  2. The company gets patronized by your audience through your affiliate link/code
  3. A commission is paid once sales have been made or traffic generated through your affiliate link/code.

Different Types of Affiliate Marketing Programs

Quite a number of companies, especially online companies, have embraced the marketing strategy of running affiliate programs as a way of boosting sales. These affiliate programs cover three major areas which are:

Pay Per Sale (PPS): This is the most common type. Once a sale has been closed, you make your money (commission).

Pay Per Click (PPC): This is about generating enough traffic for the advertisers’ website through your own website. Once visitors click on your provided link it redirects them to the product site. On the strength of your generated traffic, the advertiser pays you a commission.

Pay Per Lead (PPL): For every visitor information (like emails) provided on the advertiser website by a visitor on your referral, you get a commission.

How Affiliate Marketing Works

Affiliate marketing like every other kind of marketing requires a good strategy in order to effectively sell a product. Simply going about it casually wouldn’t make you a wealthy affiliate even if you were signed up on a number of affiliate marketing programs.

To become a wealthy affiliate, consider these tips:

Choose a (prosperous) niche:

Choosing your niche can be quite confusing. However, the major thing to consider when choosing a niche is your passion for a particular field or subject matter. Another thing to look out for is the competition in that niche. You don’t want to go struggling with other affiliate marketers in a particular niche when there are other niches greatly in need of affiliate marketers.

Being a wealthy affiliate requires a well-paying niche, so it goes without saying you need to pick a niche with incredible potential. You can identify a good-paying niche by the product’s average income per sale.

Create your own platform:

You must be ready to go all out to promote an affiliate product. Having your own platform would make the process easier. You can either create a personal website or own a blog where you can easily update content about your affiliate products. Another option could be your social media accounts.

Create terrific content:

If you own an affiliate marketing website or social media page creating quality content is key. Why? Because in order to effectively market and sell a product your words must be persuasive enough to convince visitors or prospective buyers on why they need to purchase or use a particular product or service.

To create terrific content, you may have to research more about the products. Who is it for? How does it benefit customers? Is it worth the customer’s money? Etc.

Select Affiliate products you can promote:

It is easier to market a product that you are familiar with compared to one that you have little or no idea about. Customers would have questions, and you must be ready to answer those questions.

Be Part of an Affiliate Marketing Network:

Such platforms provide you with the opportunity of connecting with other affiliate marketers and retailers. On these platforms, retailers directly list out their products available for affiliate marketing. You can choose from any of them, and discuss agreement terms with the retailers.

Top Paying Affiliate Programs in Nigeria (Local & Foreign)

Most online stores such as e-commerce, e-health or e-travel platforms offer marketers and advertisers the opportunity to be a part of the company through affiliate programs. Companies offer different commissions and payment methods. Some online affiliate networks pay at least 9% commission. Some commission payments are done bi-monthly. That is on the 1st and 16th of every month you receive payment for sales made from the 1st – 15th of the current month.

Once your affiliate account has been set up with a company, you can use your log in details to access your affiliate panel or dashboard at any time. From the variety of promotional materials provided you are expected to select the most suitable for you and advertise as you desire. These promotional materials include text links and banners.

Affiliate programs in Nigeria that pay

  • Jumia Affiliate Program
  • Konga Affiliate Program
  • Wakanow Affiliate Program
  • Web4Africa Affiliate Program

Foreign affiliate programs that pay

  • Grammarly Affiliate Program
  • AliExpress Affiliate Program
  • ShareAsale Affiliate Program
  • Travelstart Affiliate Program
  • MarketHealth Affiliate Program
  • Amazon Affiliate Program
  • Siteground Affiliate Program

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