Affiliate marketing is among the most profitable methods of generating income online. Many individuals with a dream of taking control of their lives and working from home with money rolling into their bank account overnight have discovered affiliate marketing as a reliable and genuine method of attaining financial freedom. However, this financial freedom came with a sacrifice in time, effort and financial resources. You too can achieve the same however first you need to navigate the murky waters of the internet and understand how to earn money as affiliate marketer.
What Is Affiliate Marketing?
In easy terms, affiliate marketing is a marketing method in which you promote the products/services of another individual or business, and get paid an agreed percentage of the sale as a commission for your advertising efforts. Your job as an affiliate marketer is to assist other individuals or businesses sell their products or services and get a commission whenever you send consumers to purchase the product and services from their website.
Affiliate marketing creates and win-win situation and is very appealing to individuals as they don’t need to have any products or services of their own to sell. As an affiliate marketer, you just require the right abilities and a platform to promote products and services and then search for merchants and businesses that offer affiliate programs.
The majority of people have the wrong impression of affiliate marketing. They wrongly believe it’s a very quick way to make a great amount of money online. However, this is far from the truth. Yes, there is a lot of money that can be made with affiliate marketing, however, if you speak with any super affiliate making 5 or 6 figures monthly, they will all share their stories of failures and frustrations.
To succeed and get to the top they all had to sweat, invest money they didn’t have, learn new skills, develop new capabilities, and create alliances throughout the digital landscape. You need to be ready to step in their footsteps. There is not enough time for you to learn everything by yourself, however, you can learn from the professionals and set yourself up for success.
How To Do Affiliate Marketing
The very first thing to do is discover a specific niche when you want to begin affiliate marketing. As an affiliate marketer, possibly, the most important factor to your success is the choice you make when you select your niche.
Your specific niche must be something you are enthusiastic about and experienced about. It’s vital that you pick a specific niche that you are knowledgeable in to make it simple for you to develop yourself as an authority on the topic when you begin promoting products or services in that niche. In this way, you rapidly acquire credibility amongst your audience, and in no time, they will trust you and purchase the product or services that you recommend.
Make sure there is a high demand and low supply within your niche along with rewarding affiliate opportunities that pay outstanding commissions. Then put in the effort, have the patience and be amazed as you see your work turn into money.
Types Of Affiliate Marketing Programs
After selecting a specific niche, it’s time to select your affiliate programs. There are various kinds of affiliate programs including:
One Tier: This kind of affiliate program pays you a commission whenever individuals purchase services or products through your affiliate link.
2 Tier: In a 2 tier affiliate program you get a commission when the affiliate you referred to the program start making sales.
Climbing Tiers: In the climbing tiers program as your sales increase so does your commission.
Sitewide Commissions: Here you get a commission regardless of what individuals purchase, as long as they arrived on the site through your affiliate link. The very best example of this is the Amazon Associates Affiliate program.
Recurring Commissions: These are typically a subscription service where you continue to receive commissions as long as the customer is signed up for the product.
Pay Per Lead: With PPL your commission is based on the number of leads that you send to the company, these could be individuals completing contact forms, etc. For PPL make sure to configure your analytics to track your performance correctly and have a well-thought-out written agreement with your affiliate program for this.
In addition, affiliate programs can be specific or affiliate marketplaces. Specific affiliate programs are those that you sign up for through the company’s site, such as Amazon’s Affiliate Program. Whereas, affiliate marketplaces such as Warrior Forum or ClickBank allow you to select products and services to promote from thousands of merchants and businesses.
The big advantage with affiliate marketplaces is that it helps to keep all your affiliate accounts in one place making it much easier to handle. However, there are thousands of very profitable affiliate programs that are not part of the affiliate marketplaces so it is advisable to do your research before deciding which products or services to promote.
What To Look For In An Affiliate Program
Naturally, the very best affiliate programs are the ones that have high commissions, high conversion rates, and low refund rates. If you select an affiliate program that has high commissions, low conversion, and high refund rates it will burn you due to the high refunds.
Usually, affiliate marketplaces like ClickBank and Share-A-Sale will let you see the performance metrics of the various affiliate programs. However, if you are working with specific affiliate programs you will need to monitor the performance of your affiliate links.
Amazon Associates affiliate program is actually one of the most popular online affiliate programs offering up to 15 percent commission and also includes sitewide commissions. Amazon Associates program does have extremely high conversions with the added advantage of being able to create a custom link to any product. However, to increase your chances of success research your specific niche to make sure it is not saturated.
Now that you’ve picked your program, what next?
Having selected your affiliate program it’s time now to focus on a content strategy to promote the products. Depending on your industry, you can choose to deliver your content through various methods such as blog posts, articles, videos, or even course of platforms such as Udemy or Linda.
In our opinion, written content gives the highest flexibility as it is possible to update written content easily whenever new information becomes available.
Next step is to create your affiliate site or a blog site. You will need to invest some money on a domain name and hosting, and if you believe you can’t create the website yourself, think again! These days, with the advances in technology, it is very simple for anyone to build a professional-looking site in minutes with zero technical abilities. Try it, just enter a name for your site and click Build it Now!
The most significant challenge to making sales in affiliate marketing is traffic. Traffic is the lifeblood of making sales as an affiliate marketer and while a robust content strategy will get you the traffic you should also explore other traffic sources. Traffic sources such as Social Media campaigns, ads, and networking are some ways to increase traffic to your site. The more traffic you get, the greater your opportunities for making more revenues.
Another way to passively boost traffic to your site is through search engine optimization (SEO). Good SEO with niche-specific keywords can help put your site content and your affiliate links at the top of the search engines. You will probably need to learn some things about content optimization and keyword research, however, stick with it as it will pay off in the end. However, if the thought of SEO is too much for you then make sure to get a specialist to craft an SEO strategy for you.
To excel in affiliate marketing valuable content is important however there is something even more important and that is purchasers want evidence that what you are recommending works. As much as possible, supplying external proof in the form of reviews, testimonials, social proof and others really help to convince your readers beyond doubt.
Engaging your site readers and winning their trust is one of the most important aspects of affiliate marketing. Always give factual information and be transparent. Settle any complaints as quickly as possible and reply to comments in a timely manner. Do your best to build a community around your affiliate marketing business and it will serve you for a long time.
Track Your Progress
Always keep an eye on your performance. Recognize what is working and ditch any program that is not working. Always continue to learn, keep your eyes on the ball, and continue to grow. Further reading Affiliate Marketing Training For Beginners
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