Booking.com has emerged as one of the leading digital travel companies globally by providing the technology that seamlessly connects millions of people to numerous travel and lodging options. It has great recommendations on places to travel and stay at different prices, all at one platform.
For doing this, it doesn’t necessarily own any property still makes billions of dollars every year.
It may sound unrealistic, but when we tell you about the business model they follow, you will completely understand what helps them make such big profits.
And the good news is, we will also tell you how you can use their business model and start your own business without any bulky investments.
So, let us begin without any further ado!
Booking.com’s business model
The business plan followed by Booking.com is top-rated and being adopted by more companies and entrepreneurs every day. This model is followed not only by Booking.com but by many other companies such as Lyft, Uber, Expedia, Airbnb, etc.
This performance-based money-making method is called Affiliate Marketing. Under this, companies such as Booking.com make money in the form of commissions on every reservation that a person makes through their application or website.
Booking.com has an extensive list of tours and lodging options on its website, along with the different prices they come with. This provides the customer with a one-stop place where they can easily make their vacation plans without visiting the individual hotel websites one by one. This saves them a lot of time and also helps them to make the best decision for themselves.
And whenever a person makes a reservation through the Booking.com app or website, the realtor has to pay a commission to Booking.com for increasing their sales by bringing a new customer.
A basic affiliate marketing structure consists of 4 types of people:
- The brand or the company, who wishes to increase their sales by bringing in new customers.
- The affiliate or the publisher is a person or a company (like Booking.com) that earn commissions by bringing in potential customers by promoting the brands’ products and services.
- The consumers are an essential part of the affiliate marketing structure as, without them, no one gets paid. And to bring a consumer to the affiliate marketing structure is the job of the affiliate.
- The affiliate network serves as the medium for the affiliate to connect with its consumers by providing them access to many products that an affiliate wishes to promote and processes the payments.
In short, you can say that an affiliate acts as a salesperson for the brand or the company.
Affiliate marketing is one of the most popular methods to earn passive income in current times. It enables a person to start their own business without making any hefty monetary investments, and also, the person can work from any corner of the world.
So, now that you have seen how Booking.com manages to make such huge profits every year, the next question we are going to answer is
Is it possible for anyone to make money with the same method?
The best thing about affiliate marketing is that you can start your affiliate marketing business anytime you wish to without years of planning and savings. You need to learn about a few basic skills in affiliate marketing.
If you want to know more about where you can learn about affiliate marketing skills, make sure to read our last section.
Besides that, you need to be consistent and properly update your content to establish a successful business.
Affiliate marketing is an excellent opportunity to make some decent bucks for those who like to have authority over their work. As an affiliate, if you think that a company is not compatible, you are always free to leave without dealing with any policies or regulations. You do not have to worry about losing a job as you can work with multiple enterprises at the same time from anywhere in the world.
If you wish to start your affiliate marketing business, continue reading as in the next section, we will tell you a few simple steps that you need to follow.
Steps to starting your own business in affiliate marketing
We are sure you are intrigued by the idea of affiliate marketing. And now, if you are lost and want to know how you should begin, then do not worry, you are in the right place. In this section, we will guide you step-by-step to start your affiliate marketing business.
Let us see.
Pick out a product you want to promote
The first thing you need to do is select a brand or a product you want to promote. Affiliate marketing is not limited to any particular niche, so you are free to choose any products or services to advertise on your website. It helps a lot if you pick those products and services that you know about. By doing so, you can curate many useful recommendations for your audience.
For instance, you like to travel and have a lot of experience with various hotels and homestays. Then you can base your content around traveling. Next, you need a platform where you can show all your content or recommendations.
It is also necessary that you stay true to what you say about a product. Your product recommendation should not come across as a sales pitch, but something that your audience finds relatable.
Work on your website
After you have decided on a niche, you need a platform to connect with your audience. Affiliates use different platforms to communicate with their audience. These platforms may include a social media site, YouTube, or a blog.
Among all of them, making a blog is the most popular method and our recommendation too.
You can begin with a simple WordPress website, which won’t require much time and effort to set up. You should make sure that your website is unique and offers something that helps your audience to make a direct connection with what you want to display.
Also, wait until the next section, where we will tell you about a place where you can access tools to make your work easy.
Make recommendations to your audience.
Consistently creating quality content is what will keep you moving in this business. Based on the products you want to promote, you should figure out what your audience is looking for. Then you need to curate your content accordingly. Like as an affiliate, Booking.com must recommend the best places to travel and stay to tourists.
Similarly, you need to compile the best content for your audience by doing proper research and providing them with the best possible options to choose from. Your content may include reviews, recommendation lists, etc. If possible, you can also include your personal experiences with that particular product or service.
When you work as an affiliate for a company, you’ll be provided with personalized affiliate links. You should place these affiliate links with your content as naturally as possible. Whenever a customer uses that particular product or service using your affiliate links, you will receive a commission for bringing in a new customer to that company. This is how affiliate marketing works.
These were a few simple steps that you can follow to start working as an affiliate. Moving on to the next section, we will tell you about an amazing place you can start learning about affiliate marketing from the experts and, at the same time, access all the important tools you will need for your website.
Where can you learn the necessary skills in affiliate marketing?
If you want to start making money in the same manner as Booking.com, Wealthy Affiliate is your place to go!
One of the leading affiliate training programs, Wealthy Affiliate, provides you with incredible tools and all the necessary training to start your affiliate marketing business. With a community of approximately 2 million affiliate marketers, this platform makes sure that you emerge as a very successful entrepreneur.
Under its premium membership, you will get
- Access to weekly training lessons by experts in affiliate marketing.
- Access to all the research tools for searching keywords and other web hosting tools.
- Chance to get connected with many other affiliate programs to expand your business.
If you want, you can first begin with their free membership to get a hold of what this platform is all about. In Wealthy Affiliate’s free trial, you will be provided with access to the first level of their certification course, consisting of ten lessons. After being completely satisfied with their lesson plans, you can make your decision to upgrade to take advantage of all the tools and lesson materials at a very affordable price.
This was all about how Booking.com makes money using a very profitable business model called Affiliate Marketing. Any person, regardless of whether they can make any investments, have any technical knowledge, or not can start working with this plan.
You are not limited to work with only a single brand or company at a time. Under affiliate marketing, you can expand your niche to as many products and services as you want, like tourism, restaurants, home appliances, cab services, etc.
We have also recommended an amazing platform called Wealthy Affiliate, where you can learn about affiliate marketing in exchange for a nominal fee. Also, make sure to check out their free trial if you don’t want to spend your money yet.
We hope this article was useful for you and has provided you great information about making money like the biggies such as Booking.com.