How to Make Money with Affiliate Marketing in Nigeria
Affiliate marketing is a fast-growing industry, with many people already raking in dollars from it. In fact, as of 2019, the International Research Journal of Engineering Science, Technology and Innovation estimated the market to be worth a whopping $12 billion. This is more than enough for everyone to cash out.
Making cool money with affiliate marketing in Nigeria is not only possible but highly profitable and lucrative. True, some affiliate programs have restrictions on Nigeria, however, there are tons of high-paying and reputable programs you can cash out of if you’re ready to put in the work.
Are you looking for a viable business you can start with very little or no capital? Or are you a business owner trying to scale up your sales? If you want to also bag a six-figure income like the thousands you’re cashing from online businesses, then I bet you’ll want to consider affiliate marketing.
Don’t know how it works? Or the strategies you’ll need to hit big on it? You need not worry. In this extensive, detailed, but easy-to-understand post, I will be introducing you to what affiliate marketing is, how it works, and the opportunities available in Nigeria.
I’ll give you top-notch and proven tips nobody has told you on how to drive the sales you want. I guarantee this will be the last post you’ll read to understand affiliate marketing.
marketing, how it works, and the strategies to make money from it. While this post will be useful to business owners, those who want to become affiliates and earn big.
READ ALSO: How To Make Money With CPA Marketing 2024
What is affiliate marketing and how it work?
This is not an economics class so I will save you the jargon. In simple terms, affiliate marketing is a collaboration between a seller/vendor (merchant) and a promoter or marketer (affiliate), where the affiliate earns commissions for every customer they bring to the merchant.
How it works is that you join an affiliate program of your choice and decide on the product you want to promote (you will often have the prerogative to make that choice). When your sign-up is successful, the merchant assigns you a unique code/ link, which you will use to refer traffic to the target site. This code/link contains your affiliate’s unique ID or username, which makes it possible to track the traffic you generate, hence your commission.
Different merchants have different terms of reference; however, affiliates can earn as much as 6% of what they sell, whereas others pay 10%.. However, percentages are not as important as products with high prices. Imagine you sell a product worth $100 million with a commission of 10%, as opposed to a product worth, say, $1000 with a commission of 60%..
I have introduced you to what merchants and affiliates are, which are two of the four elements in the marketing system. I will introduce you to the other two as well.
• The Consumer (Buyer): For the merchant and affiliate alike, the consumer means the difference between money and an empty wallet. Without sales, there is no revenue for the merchant, hence no commission for the affiliate.
The consumers are the maidens you want to attract, and you want to do everything in your power to present yourself as the suitor they have been waiting for.
• The network: An affiliate network is a middle man between merchants and affiliates. A network connects merchants to affiliates. Though not a necessary member of the system, affiliate marketing can happen without a network; networks, however, are useful in facilitating the speed with which affiliates and merchants can connect.
• Programs: A program is simply the rules that apply in a contract.
• Traffic: Traffic means the number of visitors visiting a website. In this case, your target website.
Huge traffic is what every marketer is aiming for because the more visitors you get, the more likely your product is to be purchased. Moreover, people are less likely to stumble upon your site by chance. High traffic also contributes to making your website more reputable.
• CPC Affiliate Program: CPC stands for “Cost-Per-Click”. A CPC program means an affiliate gets paid based on the clicks they can generate for a merchant.
• PPL Affiliate Program: Also known as cost-per-action (CPA), PPL stands for “Pay Per Lead,” meaning an affiliate gets paid based on the leads they can generate for the merchant. Simply put, an affiliate is paid based on the prospects of new users. PPL can be a great incentive to affiliates; however, dubious affiliates can mislead the merchant by entering fake leads just to make their money.
• PPC Affiliate Program: Pay-Per-Call is similar to CPC, except this time around, the affiliates are paid based on the calls they can generate.
How to make money with affiliate marketing in Nigeria
Let me clear up an important misconception. First, affiliate marketing is not the same as multilevel marketing, and second, it is not a quick way to make money scheme, but like any business, it requires hard work and loads of hard work to earn. However, with hard work, and the right knowledge, you are sure to become successful.
That being said, I want to now show you how you can make money as an affiliate marketer in Nigeria. I will be giving you my top tips on becoming a successful affiliate marketer, taking your slices from this multi-million-dollar industry. The tips I will be sharing are for beginners and those who have been struggling to make sales.
Tips to Making Money with Affiliate Marketing in Nigeria
Pick a Viable Niche
A niche is a specific kind of product or service you want to promote. By selecting a specific niche, or a few to focus on, you can channel your strength and achieve the maximum result. But you are not going to simply pick any niche at random. You want to make sure the niche you are selecting is profitable. You are going into business, and your goal is to make a profit. At this stage, the internet is your friend. You want to do a diligent search for profitable niches.
In selecting a niche, you want to keep in mind that competition is your friend. Absurd right? But affiliate marketing is one of the few businesses where competition is essential to your success. A niche with many affiliates promoting it means the prospect there is viable.
Set up your website or blog
Having your own site gives you an edge in building a dedicated audience, thereby creating room for recurring income. And you don’t have to worry about not being a professional web designer to design or own one. If you don’t have the time, you can outsource it. However, if you want to save costs, there are easy-to-use platforms to help you design professional websites, even if you don’t have any prior knowledge of coding.
WordPress and Wix are some common examples of website builders. You can use tutorials to learn how to use them.
Join an Affiliate Program
This is where you get the products or services to promote. Wondering what program to join? Don’t worry, I got you covered. I will list some top affiliate programs that you can join to cash out big time. But I will do that after giving you my last tip.
Start Creating Contents
Yes, contents.
You are probably already saying “but I’m not a writer”. I know, and that is why I say you can either learn or outsource. But you can’t shove it off.
Some content you can write includes:
• Review articles
• How-to articles
• Tips articles, etc.
I want to congratulate you for coming this far in your journey toward becoming an exceptional and high-earning affiliate marketer. Now, I will be dropping my top 5 affiliate programs you can leverage as Nigerian. Some are local, while others are global. These platforms are holding your money and waiting for you to cash out.
Top Four Affiliate Programs You Should Know
1. Amazon Affiliate marketing with
With Amazon Affiliate Marketing, you can earn up to 10% sales commission. You only need to use the embedded link to go to their website, sign up, promote sales, and start earning in dollars.
2. Jumia KOL Affiliate
Jumia is one of Nigeria’s most trusted websites, so you can be sure of doing business with them. Like Amazon, affiliates can also earn up to %10 commission. Also, they allow affiliates to promote their products along with those of other companies. You only need to sign up. It’s free.
3. Konga Affiliate Program
Like Jumia, Konga is also a leading eCommerce and affiliate platform in Nigeria. Sign-up is easy. Use the embedded link to reach directly to their official website.
4. AliExpress Affiliate Program
AliExpress is a platform where you can be sure to make it big if you sign up for their affiliate program. The good news is that it is free. Registration and banners are free.
What are you waiting for?
Conclusion
Affiliate marketing is one of the easiest and most sure-fire ways to make money on the internet. It might not come easy at first, especially if this is your first time. No high-earning business is easy either way. However, with dedication and determination, you can join the league of millionaires in no time. You know you have the information you need to start your journey as an affiliate. I say you should go for it.
Sources
1. International Research Journal of Engineering Science, Technology and Innovation:
Affiliate Marketing Market Analysis
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