Turn Your Website, Blog, and Social Media into Cash with CBD and Affiliate Marketing
Every few years, it seems like the internet is swept by a “new” money making tool. Some of them work out – others don’t. The recent Affiliate Marketing bandwagon seems like it’s going to be around in the long-run with companies like Amazon being so heavily involved.
Indeed, ever since the 4 Hour Work Week hit shelves, there’s been a mad rush to earn passive income for every with an internet connection. In this post, we take a look at the basics of affiliate marketing. As well as show you why CBD is one of the best industries for affiliates to work with. Read on to learn how to turn your website, blog, and social media into goldmines.
What is Affiliate Marketing?
Affiliate marketing is a relationship between three parties with revenue sharing around shared goals. The three parties involved are the:
- Advertiser (Merchant)
- Publisher (Affiliate)
- Consumer (Buyer)
Affiliate marketing is the interplay between these three entities to move product and make conversions. Each has their own agenda, but each is critical to the process. Let’s look at affiliate marketing from the perspective of each of these players.
The Advertiser (Merchant)
The advertiser is the supplier in the affiliate marketing chain. They are the brand and offer the product for the consumers to buy and affiliates to promote. What is important to note, is that advertisers, while always looking to sell products, may have other conversion opportunities for their affiliate program. Those could be email opt-ins, testimonials, downloads, etc… It’s the advertiser who processes orders on their website and pays out affiliates (publishers) a certain commission rate.
But why would the advertisers spend money on affiliates instead of promoting in-house?
As with advertisers, one of the main problems any business has is its scope. Simply, unless you Coca Cola or Facebook, there are customers that don’t know you or don’t see you. Affiliates can help solve that problem. They become brand promoters for your company with the incentive of commissions. Whether it’s a website shout-out or an instagram mention, advertisers are able to reach a bigger audience through their affiliates. This higher exposure and traffic can only mean good things for business.
The publisher is the link between consumers and the merchant. Publishers may have websites, social media followings, blogs, etc… To the advertiser, they represent untapped audiences. In exchange for a commission for all the conversions they help execute, publishers become spokespeople and promoters.
From a publisher perspective, the best advertiser for you is a company who is relevant and offers strong commission rates. A relevant audience is much more likely to go through the buying process than someone than an audience who doesn’t engage with a merchant or brand.
Last, there are the consumers within affiliate marketing. The consumers fund the entire business. The consumer is the party that completes an action – email opt-in, purchase, download, etc… and triggers the commission payments for the affiliate. Consumers have different patterns of behavior (what they search, click, and purchase), so it’s important that merchants and publishers are in touch with these behaviors for their conversion purposes.
For consumers to purchase, advertisers and publishers need to show them the value that products bring. The more you can convince a consumer you will add value for them, the more likely they will be to convert.
Odds and Ends
While you have been introduced to the different constituents of affiliate marketing, we haven’t discussed the how. Without going into too much detail, affiliate marketing relies on what are called cookies to track the buyer journey from visit to checkout.
Cookies, Links, and Creatives
Cookies make the internet a better place. Cookies, are small browser-based files that are placed on your computer to save data. For instance, whenever you computer “remembers” login credentials on a site, those are cookies. They are designed to ease server load when a user browses the internet. Rather than having toad all of the information from a website page, some of that information is already known.
In affiliate marketing, data from users is stored in cookies to track user activity through specially generated links. Depending on how the merchant works, the affiliate will be given a unique link that they can advertise on their different platforms.
These links can be placed behind images or text depending on a publisher’s marketing strategies.
An advertiser also may offer creatives, which are visual, interactive media that a publisher can use to promote a brand. These creatives can come with a certain affiliate tracking code to track conversions from as well. Here is an image from Hemp Bombs’ Creatives Section, a popular CBD affiliate program.
In this program, an affiliate grabs the text code from this page and then pastes that into the backend of his or her website. And, tada! You’ve got a unique affiliate creative which you can use to track your conversion goals.
That is a broad overview of affiliate marketing in general. But that doesn’t touch on the CBD market in particular, which is one of the most exciting industries to become an affiliate in.
Why Become a CBD Affiliate?
If you are considering getting into affiliate marketing, partnering with a CBD brand is a great choice. We’ll take a brief look at the reasons why CBD is the perfect industry to get started in as an affiliate marketer.
Affiliates would be lying if they said they’re in affiliate marketing for anything but the money. Amazon has probably the most well-known and most successful affiliate program. While an Amazon affiliate has a brand name and smart interface, a glance at the commission show that nobody’s getting rich off individual referrals.
With CBD, commission rates are much more attractive. In the Hemp Bombs affiliate program we pictured above, commissions average 25% per sale. That’s up to twenty-five times as much as you’d make as an Amazon affiliate. With CBD, you get more bang for your buck.
Both the Marijuana and CBD industries are booming, with no signs of slowing down. On a social level, entrenched opinions are being turned over and even non-users are embracing the benefits. This is a recent Gallup Poll of individuals who were asked, “Do you think Marijuana should be made legal, or not?”
Today, way more than half the population is pro-marijuana legalization. This is great socially and financially. For businesses, the widespread support of legalization means there’s a growing audience – with increased audience comes greater demand. This demand is only anticipated to grow over the next few years.
According to Forbes, the Hemp industry (where CBD is derived from) is expected to see 700% growth by 2020. If you’re looking to become a stakeholder in this industry, now is the perfect time.
From Consumer to Publisher
If you’ve made it this far into the article, first off, well done. If you’ve gotten here and read carefully, you’ll know you’re probably on the consumer side of the affiliate marketing model. Right now, CBD and Marijuana companies are using you to fuel their profits, without sharing any with you. Now is your opportunity to make a change. Visit Hemp Bombs and explore their affiliate section and learn more about how you can turn your audience into cash. Going from consumer to publisher is one of the easiest and smartest decisions you’ll ever make.