Have you ever recommended a product you love to a friend, and even gone the extra mile to convince them to make a purchase? Well, that’s essentially what affiliate marketing entails.
The key difference is that in affiliate marketing, you don’t walk away empty-handed. The brand you promote and generate sales for rewards you with a certain percentage of the money earned. Exciting, isn’t it?
Affiliate marketing stands out as an excellent avenue for those seeking a passive stream of income. It’s an industry of substantial magnitude, valued at over $14.3 billion according to a recent study.
So, how can you get started in affiliate marketing, and what are the essentials for embarking on this journey? Read on as we explore the nuances of affiliate marketing and provide a comprehensive guide on how to begin your affiliate marketing career in Nigeria.
What is affiliate marketing and how does it work?
Affiliate marketing is a process where individuals earn a commission by promoting or recommending products or services offered by a company or another individual. The individual who endorses the product is referred to as an affiliate. It’s a mutually beneficial arrangement, where both parties can smile all the way to the bank. Companies or brands are relieved from the sole responsibility of promoting their products, and affiliates can secure sales without the need to own a store or product.
Various affiliate marketing networks in Nigeria offer different compensation plans. Some reward you for leads, sales, and free trials, depending on the product or service. Platforms like Traffikate, for instance, offer an exclusive opportunity to promote both physical and digital products while earning commissions on both ends.
Why is affiliate marketing a viable opportunity in Nigeria in 2023?
There are numerous advantages associated with being an affiliate marketer in Nigeria, including:
1. Financial Security: On average, affiliate marketers in Nigeria earn between 50,000 naira to 250,000 naira. Some even surpass these figures. With a well-defined strategy and a supportive community dedicated to enhancing your marketing skills, your income potential is virtually limitless.
2. Minimal Risk Involved: Unlike traditional business ownership, business owners only pay out commissions when a sale is made, and affiliate marketers do not have to worry about the entire process of packaging and delivery. The primary risk revolves around achieving your sales targets within the stipulated time frame.
3. Flexibility: There’s no need to adhere to a rigid 9-to-5 work schedule. You have the freedom to choose how and when you work. As long as you have a device and an internet connection, you can connect to an affiliate network from virtually anywhere.
How do you become an affiliate marketer in Nigeria?
Now, let’s dive into the essential steps to tap into the lucrative affiliate marketing sector in Nigeria:
1. Select a Profitable Niche: Success in affiliate marketing hinges on choosing a profitable niche. A niche is the specific area you choose to focus on, specifying the kinds of products and services you’ll promote. Selling everything to everybody often results in selling to nobody. Even supermarkets have a niche, and this specialization is what makes them successful.
2. Find a Suitable Affiliate Program: Your success as an affiliate marketer is closely tied to the affiliate marketing program you select. Ask yourself these key questions:
– Does the program align with my chosen niche?
– Will I receive the necessary support to ensure consistent sales?
Not all affiliate programs provide guidance to newcomers, which is why many individuals quit after a short period. Be prepared to put in the effort to find an affiliate marketing program with an active community, like the Traffikate platform, whose products and services align with your goals.
3. Choose the Right Platform to Build Your Audience:
To promote the products and services you intend to endorse as an affiliate marketer, you need to consider how to gain traffic. You don’t necessarily need to own a blog or be an influencer. Instead, leverage what you already have, from your social media channels to platforms like YouTube, Quora, and Reddit.
Research your target audience within your chosen niche and devise strategies for reaching them effectively. This research will guide your platform selection.
4. Create Quality Content to Build Trust:
Affiliate marketing is fundamentally built on trust. People buy from those they trust to provide value for their money. To build that trust, focus on creating high-quality, informative content that attracts potential buyers and keeps them engaged.
Quality content means producing material that resonates with your target audience, addresses their needs, and tackles their pain points. Your content should establish you as an authoritative source within your chosen niche.
5. Build an Audience List:
Relying solely on social media leads can be limiting as an affiliate marketer. It’s crucial to maintain a contact list of potential customers whom you can reach via email newsletters and other means. This enables you to nurture relationships that extend beyond a constant barrage of sales messages.
Your newsletter can feature entertaining stories, testimonials, notifications of new blog posts, reports, reminders, and more. Consistency in communication is key.
Conclusion
To sum it all, affiliate marketing is not a get rich quick scheme or a refer one to refer two business. It is a legitimate business model that require your commitment and dedication. However opportunities abound for those who are willing to put in the work. Commitment, supported by a community of like-minded individuals, can significantly enhance your chances of success. That’s why, at Traffikate, we prioritize equipping each affiliate with the necessary skill sets while providing a supportive community for mutual learning and growth. With dedication and the right resources, your journey to becoming a successful affiliate marketer in Nigeria is within reach.