HOW TO START AN AFFILIATE MARKETING BUSINESS IN NIGERIA
One of the fast rising business options for individuals that doesn’t even require too much capital or even at best, nothing at all but is a really lucrative option is Affiliate marketing. The business has become really popular in the country and is a nice option for individuals looking to start a business but with a little amount of capital needed at best. It’s a lucrative business and one that can generate huge amount of income for individuals who start them as long as they understand what the business entails and they’re also ready for everything that might be required in practicing the business. It’s not difficult to start and might only require having a knowledge of how it works and a smartphone.
According to Wikipedia, Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts. So basically what affiliate marketing means is marketing but for someone else. Like advertising a product for a brand or a company that is owned by someone else, of course, and getting a commission or certain percentage on sales made from your advertising efforts. It’s a really nice business option as it doesn’t really require too much from individuals who start them and not to forget that it can bring in huge amounts of profits based on your efforts.
The amount of income you’ll get or how much money you’ll receive will totally be based on your performance and advertising efforts. Like, how many people did you invite to get the products from brand? And also how well did people get to purchase a product based on your referrals. If you bring in customers, you’ll definitely get paid a certain commission as agreed by the company or brand you’re marketing for. For example, If Mr A runs a company that sells shoes, he can set up an affiliate marketing program that allows individuals earn, based on agreement, for everyone they bring in and actually buys a shoe. There are a number of affiliate programs for individuals looking at this business option.
The easy approach of running the business is actually one of the reasons why the business is hugely popular. You simply don’t need too much things. All you need is to get people who are willing to buy a product and get them to actually buy it and receive your own money from it. You certainly don’t require any kind of stress and with social media and the internet in general, your marketing efforts can totally be online, hence making the business something that doesn’t involve too much stress at all. You can definitely try out other advertising techniques depending on the brand niche and also if you have money for it but it’s always advisable to do what works to you to avoid doing too much.
The business also doesn’t require any special skills or prior experience to be able to start. It’s something that almost anyone can start as long as they understand what the business is about and they’re also ready for it. Educational qualifications might not be important but it is of course a plus and can definitely prove useful if you have it. It’s pretty easy to start and also easy to learn how to go about it. It’s fairly easy and something that anyone can start especially with little or no experience at all.
Starting the business is not a difficult thing to do like I’ve mentioned severally. It’s something that anyone can start and even with just little or no capital required at all in starting. The capital aspect is one of the things that will definitely lure individuals to starting the business as capital sometimes proves to be too big for individuals to start their business. Capital is really low and you might not even need it at all throughout your journey as an affiliate marketer. You also don’t need a location to start at all as its simply something you can do at home without getting a shop or something like that. It’s one of the many lucrative online businesses that individuals can try out to make some money.
In the next sub heads, I’ll be discussing the steps involved in starting up an affiliate marketing business in Nigeria and some of the important things that might prove useful under each step to ensure that you make your money, run the business properly and also be successful at the business you’re starting.
No matter what you’ve heard someone saying about a business and how well success is assured or how lucrative it would turn out, always try to do your own research. The research will not cost anything except your time and that time will prove to be well spent when the business starts and the successes starts coming in. It is important to do a thorough investigation about the business since you’re going to be investing your money into it and you’ve never been involved in the business. Some hours of research won’t hurt.
The research is always meant to give you an idea of what to expect and the challenges ahead to be faced. It teaches future entrepreneur how the business works and what success means. It shows the risks involved and the ways to tackle them. It also gives ideas on how to sustain the business and work towards more success. Imagine missing out on any of the mentioned points, it’s more like being less equipped about something especially something you plan to spend money on.
There are experts in the business, of course, so also look to advise from these individuals as they are most likely the best bet for reliable information on the business. Take note of even the smallest things during the research period and pay close attention to how to stay and survive in the business. The research is as important as anything in the business.
2. WRITE A BUSINESS PLAN
A business plan needs no introduction. It is equally as important as some of the other processes or things involved in the business. After a comprehensive and thorough research has been conducted, entrepreneurs must now put all their ideas into paper after, of course, deciding to start the business. The business plan will cover things like the way you plan to operate, the cost of several things, how you plan to market your business, future projections and also contingency plans.
The business plan serves a number of purposes. In cases where individuals might need to get investors or even get a loan, it will prove useful as it will contain all that needs to be known concerning the business. It is also going to serve as a point of reference for the proposed business.
3. SELECTING A NICHE
First up, you’ll need to decide the kind of products you’ll want to advertise for brands. That is the direction you’ll definitely look towards when you’re in the search for an affiliate program or a company that needs an affiliate marketer. There are different niches available in the business industry and it can simply be selected based on the types of businesses around in the country. Things like weight loss, food, and fashion are particularly some of the most popular ones in the business.
4. GET AN AFFILIATE PROGRAM OR A COMPANY
Companies are always looking for affiliate marketers most of the time. Even small businesses like to employ their services as they help in increasing sales and brand awareness. Websites like Jumia, Konga, and Amazon also have affiliate programs for individuals to get in and with these websites, individuals can earn a certain percentage of sales made. Some companies are also around that advertise their need for marketers, you can simply check through social media and the internet. It should be part of your research.
You can decide to set up a blog and use it for your marketing efforts. For example, with a blog, you can offer to advertise for brands who will pay you based on sales brought in by your blog. Also, you can run things like banner ads, guest posts, and paid advertising. You can also make use of social media to advertise your brand to potential customers.