Affiliate Marketing: All You Need To Know In 2023
Are there affiliate marketing programs in Nigeria that pays daily?
This was the question a first-time caller asked me.
But I wouldn’t answer the question without an adequate explanation of what affiliate marketing is
Affiliate marketing is selling a third-party product for a commission.
The products company gives you a link and provides tools to promote their offers.
These products can be physical, digital, SaaS, and even services.
When someone buys via your link, the company pays you a commission in a fixed amount or percentage.
With some platforms, you can earn as high as 60% of whatever you sell while others pay less than 10%. More on that later…
So, we can agree that affiliate marketing is business partnership between you and the company.
History Of Affiliate Marketing
Most people believe Amazon was the creator of the affiliate marketing business model.
But William Tobin started it in 1989 when he became the first person to market on the internet.
Then, as the founder of PC Flowers and Gifts, he was paying Prodigy Network on each sale they made.
By 1993, Prodigy Network was earning over $5 million per year as commission.
In 1994, CDNOW launched its own affiliate program called BuyWeb with a niche in music.
And in 1996, Amazon launched its associate program.
With time, it finds it way into the Nigeria system
Is Affiliate Marketing Worth In Nigeria?
- 1. Get Paid Daily
If you seek an online business that pays you daily in Nigeria, start with affiliate marketing.
You can wake up every day to see you have made a sale you are not even aware of.
While these platforms don’t pay into your account immediately, the money is still yours.
- 2. No technicals required:
The beauty of affiliate marketing is that it’s a business for everyone.
You don’t need codes or designing heavy graphics to start since the companies you are affiliating with provides the resources needed.
Your work is to promote using the best digital marketing strategy and get paid.
- 3. Lacks Stress:
Mention three businesses that come with little to no stress. Affiliate marketing will top the list.
Aside from being stress free, it offers you the freedom you have always desired.
It is a lifestyle business that you do the major work and it keeps paying with your direct input anymore.
But to make this come true, you need to read my complete guide on how to start a blog in Nigeria and make money online.
5 Qualities Of The Best Affiliate Marketing Platforms In Nigeria
While most beginners choose to promote all affiliate programs in Nigeria, it is not a wise idea.
Instead, you can choose to sell the best among them.
All products are not equal, so don’t waste your time trying to promote everything you see on this affiliate program list.
What makes affiliate programs the best to join?
1. High Commission Or High Ticket:
I would tell affiliates, “anything below 50% commission for services and 30% for products is not wise”.
Except, in rare cases where the product is a high ticket.
For example:
Imagine you sell an investment product of N100 million and you receive a 10% commission.
That is N10 million–it’s fair enough.
So, even though the commission is low but because the product price is high, you still earn much.
But when you are dealing with low tickets products (of smaller prices), it becomes a game of numbers.
2. Digital Products Or Services:
I know you can make money selling physical products as affiliates.
But you wouldn’t do as much as when you sell digital products or better still services.
The reason is that affiliate programs selling physical products in Nigeria like Jumia pay less in commission because of the cost of production.
Also, you may have a delay in payment because of delivery issues or customers’ returns of goods.
Not as if customers don’t ask for a refund with digital products, but it’s rare.
And below are examples of digital products you can sell:
- Software,
- Ebooks, and
- Courses.
Make your life easy by promoting digital products or premium services.
3. Promotional Tools
Access to the best digital marketing tools makes the work easier.
An example of such is the link shortening tool – to shorten long affiliate links into 10 characters or fewer.
Another is the email auto-responder. They help you drip and automate email sending based on your chosen tags and filters.
4. Recurring Payment
Only a few affiliate marketing platforms offer recurring deals. So, if you find one, rejoice.
Recurring works such that as long as your referral remains a customer, the vendor keeps paying your commission.
These are common with membership websites and sometimes software, where users renew annually or monthly.
5. Fast Payment
While some affiliate marketing platforms pay 30, 45 or 60 days after sales, others pay on a fixed day of the month.
The reason is that within 30 days, a customer can ask for a refund.
So, some vendors came up with a system called the tentative payment.
This is a system where vendors pay you as an affiliate, 80% of your commission and pay the 20% after the customers’ refund period.
As of the time of writing, this system of affiliate marketing is not yet in Nigeria.
So, your best bet is to choose among these list of affiliate marketing platforms in Nigeria
Benefits Of Affiliate Marketing In Nigeria
This section explains how starting an affiliate marketing in Nigeria pays the three partners involved in the business.
1. Businesses:
If you are a business owner, affiliate marketing is your best shot because the risk of investment is low.
You pay affiliates only when they sell your products. So, no salary, and no allowances.
Also, consider the fact that with affiliate marketing, you pay little or nothing to promote your products here in Nigeria.
And your affiliate takes up the marketing cost in a return for a commission.
2. Affiliates
As an beginner , you look forward to joining the best affiliate marketing programs in Nigeria.
If you start with the right strategy, you will earn high than the usual. It doesn’t matter if you a beginner or not.
And since some affiliate marketing companies have grade levels, they may promote you to a level where you sell your own products.
3. Customers
Where do customers get the best and most detailed description of a product? Of course, it’s from affiliates.
A customer comes to your blog, reads your article, and makes his buying decision based on your experience using a product.
You have saved him the time and headache of trying to choose the best among many other products.
3 Mistakes To Avoid As You Start Affiliate Marketing
1. Lacking Knowledge Of Your Buyers
Before you start and become successful with affiliate marketing in Nigeria, you need to understand your audience.
- Who are the people buying from you?
- What are their frustrations?
- Why should they buy from you?
- What do they stand to gain when they buy from you? (free installation, etc.)
As an affiliate, having a targeted audience helps with a definite message.
So, you speak to their heart.
A wrong choice of words can make you lose your subscribers and send your affiliate business into exile.
2. Buying Traffic
Like products, all traffic is not equal. Quality will always triumph over quantity.
I once had a news blog with 12,000 monthly visitors. Yet, could not make one-tenth of what this blog is making even with lower traffic.
Don’t make the mistake of buying traffic from third-party sources, you will regret it.
I am particular about beginners who are just getting started with affiliate marketing.
More email subscribers are not the same as better email subscribers.
So, learn how to grow your email list organically.
3. Spamming Subscribers
This is common with beginners who think sending out daily emails will make subscribers buy more.
No, it’s doesn’t work that way.
No one likes you to clutter their inbox with sales emails. In fact, people frown at it, and they will unsubscribe without a second thought.
So, give space to your newsletter and reduce the frequency of your sales promotions.
In most cases, I encourage that you only send promotional emails only after seven educational emails.
Another way to reduce users from exiting your list is to use double opt-in systems.
If a user inputs his email twice in your form, it shows he is ready to do business with you.
Conclusion on Affiliate Marketing In Nigeria That Pays
Back to our first question: “Are there affiliate marketing programs that pays daily in Nigeria?”
Yes! They are. In fact, all affiliate programs want to pay you every day.
But the question is, “Are you ready to put in the work that brings in the money daily?”
It is not all about signing up – everybody can do that. What matters is your commitment to seeing it work.
In this article, I shared how you can start affiliate marketing with or without a website.
Also, I listed the best affiliate marketing platforms in Nigeria for beginners.
Read both. They will do you good.
