Benefits of Affiliate Marketing in Nigeria
Are you thinking of starting affiliate marketing in Nigeria? If yes, this article will show you the benefits of affiliate marketing in Nigeria. However, you will also have a brief overview of affiliate marketing, how to start and ultimately the top 7 benefits of affiliate marketing business.
Let’s dive in straight away by defining Affiliate Marketing.
What is Affiliate Marketing?
Affiliate Marketing is the type of business that pays you commission per sale on any product or service you promote and sell. In a lay man’s term, someone creates a product, you pick interest in the product, promote and sell it to people who need it and you get a percentage of the selling price as commission. PERIOD!
Affiliate Marketing in Nigeria – The Process
Before we go into enumerating the benefits of affiliate marketing in Nigeria, let us look at the processes involved. The process of affiliate marketing is very simple and I don’t intend to complicate or over-complicate it. Let’s break down the whole process into 4 simple basic steps as follow:
Step 1: Sign up with any advertiser’s affiliate program of your choice. By following the registration process, you’ll be assigned a unique affiliate link that you’ll use in promoting products/services.
All links have tracking capabilities in them to ensure that you are credited for every sale you make. When a consumer clicks your affiliate link and buys the product, the transaction will be credited to you.
Step 2: Identify the product(s) you want to promote based on your interest and target audience. Don't promote every product that comes your way or based on popular demand. Look out for products that serves as a solution to the problems people in your niche are facing and recommend it to them.
Step 3: Start promoting the product(s) you have selected in step 2 above. Some advertisers will provide you with promotion materials (banners, code snippets etc) you can use on your website or social platforms. When it comes to promoting products, you need to be creative, explore all possible avenues and platforms and be “aggressive”. Be creative!
Step 4: This is the most exciting step of all….. Cashing Out. After you’ve made enough sales, it’s time to request for payment. The payment method and threshold value for payment varies depending on the affiliate program you signed up with. You will be paid the commissions for sales of the previous month in the next month, in most cases.
However, as I said, this may also vary depending on the merchant’s payment policy as well as the method of payment e.g Paypal, Credit Card, Cheque, Bank Deposit etc.
Benefits of Affiliate Marketing in Nigeria – Why You Should Start Now!
Now that you have a little idea of the overall scope of affiliate marketing, how it works and the process, let us consider the benefits of affiliate marketing in Nigeria i.e what do you stand to gain? Why should you dedicate your time and effort to affiliate marketing instead of other methods of earning money online?
7 Benefits of Affiliate Marketing in Nigeria
Benefit 1: Flexibility
Affiliate Marketing is one of the models that work on your own terms. Here’s what I mean.
Have you experienced those times when you don’t feel like doing anything at all than to spend time in front of your computer or television and watch just movies and no one will hold you responsible for that? With the Affiliate Marketing Model you have complete control over how you work, what you do and when you do it – 100% Flexibility.
I know most people hate their jobs especially (5-7) because they are subjected to “Terms and Condition” at workplace. They have to seek for permission most times before they can do things they love. For example; going for vacation.
With affiliate marketing, you can decide to work the whole night while traveling the whole day. No one is there to question you. Once you know what works for you and when, all you need do is ensure you get maximum results from the time you commit to working on your affiliate marketing business and you’re done for the day!
Benefit 2: Little Start-up Capital
Tell me any other business you can start or build for less than $10/month.
In affiliate marketing, the usual startup cost could be your domain and website hosting. Domain will cost you around $12/year, while web hosting is somewhat $5/month, though you can still start affiliate marketing without owing a website.
As much as affiliate marketing is not capital intensive, it requires dedication, consistency, time and above all…. Patience.
Benefit 3: You Get To Promote Products You Love
From experience, one notable thing about something you love is that you’ll never get bored doing it. You’ll do it over and over again.
The same is true about affiliate marketing. If you buy a product and you get the result you desire, you can recommend such a product to others and in the process make some cool cash.
By sharing, you increase your income potential.
More benefits of Affiliate Marketing in Nigeria
Benefit 4: You Don’t Have To Recruit Anyone
Unlike Multi-Level Marketing (MLM) where the amount of money you make depends solely on the number of downlines you recruit. With affiliate marketing, it’s all about promoting products to end users.
Your level of income does not depend on your team but on your effort, time and marketing abilities.
Benefit 5: Diverse Promotion Strategy to Leverage
There are a lot of ways you can carry out your Affiliate marketing promotions. I’ll cover more on this later in this post.
Benefit 6: Opportunity to earn passive income
Passive income! Passive Income!! So much noise about having passive income streams. In fact, it is one of the usual advice given on how to grow wealth.
What is passive income? This is the type of income that you earn without being actively involved. This means you’ll continue to make income with no or very little effort on your part to maintain that cash flow.
Affiliate Marketing Business model is a typical example of passive income. You do the hard work upfront and continue to reap the benefits on a daily, weekly, monthly and possibly yearly basis.
Benefit 7: No Worries about Job Security
Your 5 – 7 job is not secured. Sorry about that. Your chances of staying in the job for a long period of time is not guaranteed. You can be relieved of your duties anytime without prior notice.
With affiliate marketing, you are more or less the “boss”. You dictate things. The success or failure of your affiliate marketing business solely rests on how willing and active you are. You’ll surely get paid for your efforts.
Another good thing about affiliate marketing is that it doesn’t fold up unlike the brick and mortar business. People shop every day.
BONUS: Benefits of Affiliate Marketing in Nigeria
I know I said top 7 benefits of affiliate marketing but I got more benefits to share; hope you don’t mind…. I just want to take it a bit further and convince you that this business model is worth venturing into.
Benefit 8: Lots of Opportunities to Choose From
There are thousands of e-commerce stores that offer affiliate programs online. They offer to pay commissions to anyone who promote and sells their products.
You can also join more than one, switch between them or combine several affiliate programs to increase your income.
Benefit 9: Affiliate marketing is still growing
Online commerce is forecasted to grow to $7 billion dollars per year in the next five years. Affiliate marketing is one of the easiest and fastest ways to make a passive income each and every month. Whether you want to make a few hundred extra bucks part-time or build a million dollar online empire full-time, this business model affords you the opportunity to do so.
Now that we are done examining the different benefits of affiliate marketing in Nigeria, it is time for you get started.
I have written a comprehensive article on the top high paying affiliate programs in Nigeria. Going through this article will help you get started convincingly, more focused thereby guaranteeing quick returns.
Plus you can explore the section dedicated to affiliate marketing for more and if you have any question or contribution, please use the comment section below.