What is Affiliate Marketing? How can you do it too? Today I am going to show you ways of actually earning cash by doing Affiliate Marketing.
Business investment in associate ads in the US will hit $8.2 billion by 2022, according to Statista.
Start today, and you will be able to take advantage of it too.
So, What Is Affiliate Marketing?
Affiliate marketing is where you sell other companies’ goods. You get a fee if anyone buys through your affiliate page.
As an associate, you are the company’s distributor.
You help with a trade. The company rewards you.
The greatest part about affiliate marketing is that, on a massive scale, you can do it. You will advertise products from several different companies and gain revenue from all of them as an associate.
How Does Affiliate Marketing Work?
Each associate is issued a unique link by the merchant to trace who was accountable for a transaction. Normally, the relation looks something like this:
Whenever someone opens this reference, a tiny file named “cookie” is saved on their computer.
The associate cookie has two things to do:
It allows the merchant to allocate the person sold to the correct person;
It (usually) includes an expiry date so that you get charged even though the customer is delaying his order.
Here’s an example of how it works.
Imagine that a reader is visiting your post on the right winter coats. He clicks on one of your affiliate links, which will lead him to the Amazon product.
But then he remembers that he had to pick up his daughter from kindergarten. But he leaves his home, picks up his daughter, eats dinner, and then heads back to Amazon, where he discovers the product again.
Since he’s still on the Amazon, he even chooses to purchase skiing equipment.
Here’s some good news. Since he had previously clicked on your affiliate connection, a cookie has been stored on his computer.
Since Amazon has a 24-hour cookie length, you’ll be paid for both the winter jacket and the ski equipment-even though you haven’t advertised for the latter.
How Much Can You Make As An Affiliate?
The easy explanation is that there are no limitations to this. It depends on your niche and the amount of work you’re investing in.
The most effective affiliates receive six-or seven-figure amounts per month.
E.g., in December 2017, Pat Flynn of Smart Passive Income received more than $100,000 in affiliate commissions.
Ryan Robinson, another partner marketer, posted over $19,000 in sales in October 2019. Another popular partner website, The Wirecutter, created an estimated $10 million in sales and was ultimately sold to The New York Times for $30 million.
Bear in mind, though, that these people have done an outstanding job creating their brand. It took them years of hard work to achieve this level
How do you start with affiliate marketing?
Step #1: Choose a platform
Affiliate marketing should, in principle, be achieved on any site. Instagram still works.
However, it’s much easier to create a community and improve your affiliate revenue via two channels: blogs or YouTube channels.
It is relatively quick and cheap to start a blog today. Several free guides are telling you how to get started. And the best component? It’ll probably cost you just a couple of Euros a month.
Optimize it for search engines until the website is up to have a better chance of being ranked.
You’re free to add referral links to the content after that. (To do this, there is an art that we will explore later in this guide).
YouTube is the other website. It is free to build and post videos to YouTube, making it a perfect option for many individuals.
Optimize your SEO videos and include in your explanation the affiliation connections.
Step #2: Pick a niche
Let’s be truthful: you’ve got to expect a lot of competition if you launch a blog today.
Statista predicts that by 2021, the number of blogs in the United States will grow to 31.7 million.
You have to rely on a niche to have the highest chance of success.
Select a topic that focuses on a certain group. The subject “food” is an enormous category, for instance. Try something more specific, such as grilling food, instead of coping with it.
You will create a more oriented audience and potentially gain a higher ranking in search engines by grouping the subjects closely together.
When I created my first website, this is precisely what I did. I wanted to limit myself to breakdance instead of referring to “dance” or “hip-hop.”
While at that time, I did not know much about SEO, I managed to achieve a ranking for some keywords and produce ~ 3,000 monthly organic visits.
You can extend into other fields later, after covering much of this section and building up traffic to these websites.
Choose something that interests you if you are the only individual responsible for content production.
Due to a lack of continuity, several partner sites die. If you are passionate about a topic, it is at least easier to proceed when things get complicated.
If you are not a specialist in the area, do not worry. The document, build zero, as Gary Vaynerchuk puts it. (“document, don’t create”) Recording everything you discover will yield excellent material and draw individuals involved in tracking your development.
It’s best to partner with experienced specialists in the niche if you’re exporting the content.
Experts will help you produce high-quality, trustworthy work, contributing to more traffic, enthusiastic customers, and sales of more affiliates.
Step #3: Find partner programs you can join
There are three types of affiliate programs you can choose from.
A. Highly paid low volume affiliate applications
These are partner programs for niche products with high compensation.
For example, ConvertKit’s partner program pays about $700 per month if you send only 80 clients to them. However, because they sell CRM software for small businesses, there is only a limited number of buyers.
High commission services seem to be more dynamic, as well. Since you are only beginning, making a respectable amount of money competing with deep pockets against competent advertisers would be very difficult.
B. High-volume, low-paid affiliate systems
There are affiliate services for low payoff goods, but which are acceptable for the mass market.
Take, for example, PS4 titles. Many people play PS4, but the total cost of a game is just around 50 euros, and membership fees are typically in the single digits. This means that you can receive 2 to 3 Euros per transaction with a bit of luck.
This sort of program’s rewarding function is that they typically provide several items for sale. Consider, for instance, the Amazon Partner network. For about anything that Amazon sells, you will receive up to 10 percent commission.
C. Highly paid, high-volume partner programs
There are affiliate schemes with particularly attractive goods, which often offer large commissions.
One case is credit cards.
Everyone wants a credit card and for years (sometimes even decades!), most customers stick with the company.
The downside to these commodities is that they draw a lot of expertise and deep pockets from partner marketers. Some also use spammy techniques in which you really can’t cope.
And as this is a beginners’ guide, I will not go through it in depth.
Only be conscious that there are these services.
But how do you decide on the best one to join?
This relies on the niche and experience.
You would generally prefer the second model with lower commissions and better sales revenue if you target buyers.
The first model is likely to be chosen if you are approaching market markets: high pay, low volume programs. Computer programs and hosting of online goods are the most common programs here.
Step #4: Create Good Content
If your affiliate site is successful, you need to create high-quality content that your affiliate links will fit naturally.
Don’t just blindly compile the products from Amazon. To guarantee that your content solves the visitor’s dilemma, go the extra mile.
Oh, and how? Buy the product and test it when you build ratings, actually.
This is precisely what has been achieved by the Wirecutter website, which describes its popularity.
You could always begin with what you already have at home if you don’t have money to buy each and every single thing. You can, for instance, construct reviews of your gadgets if you have a tech blog.
Step #5: Drive traffic to your affiliate website
Great content was created. The next move is to get more individuals to read it so that your affiliate links are clicked.
Here are three tactics you should think of traffic:
A. The Targeted Traffic.
Here, you pay for your website traffic. With PPC ads, you can do this.
The benefit of paying for traffic is that you get traffic from the moment you pay.
There are still, however, some drawbacks.
Firstly, your earnings would be diminished by putting advertisements. For advertisers, it is very common to lose money before they gain it … If they ever would.
To optimize a targeted traffic campaign, you need to be rational about how long it will take.
Second, the traffic will cease as soon as you stop paying for adverts.
In general, if you are part of a high paying partner network and can translate the numbers accordingly, ads are a perfect strategy for traffic.
It might not be such a smart idea, though, if you’re new to paid marketing and don’t have a marketing budget (or are working with lower commission programs like Amazon Associates).
B. SEO(Search Engine Optimization)
In search engines like Google, SEO is the practice of improving websites to reach a good ranking.
As long as you can get a high ranking for your chosen keywords in the search engines, you can get constant and passive traffic.
Put it simply, SEO is all about:
Understanding what your target crowd is looking for;
Creating content (blog posts, product pages, etc.) around these topics;
To take care of the “technical” stuff (which includes building links) to get this content to the top of search engines.
C. Build up an e-mail list
At any time, e-mail lists allow you to connect with your readers.
Use them to let your fans know about new content and keep them coming back to your page. This leads to more views and profits for affiliates.
You need to get your readers on your website to subscribe to create an e-mail list. Typically, this means giving something precious.
But there are many possibilities. You can also deliver e-books free of charge, an e-mail course, etc.
All you need is some imagination.
Step #6: Get clicks on your affiliate links
Just because you have great content does not mean that people will click on your affiliate links.
There are a few things you need to be aware of.
A. Link Placing
If all of your affiliate links are at the bottom of the page, where clicking is rare, only a few clicks can be achieved.
On the other hand, if you link some other words in your introduction, the post will be considered spam.
It would help if you balanced the relation with the other factors listed below.
Let’s say you’re going to write an article about the best kitchen knives under 50 Euro.
Using “disruptive items,” such as buttons, tables, and boxes, will help catch your readers’ attention and make the article clearer.
For example, when displaying a full range, the wirecutter uses eye-catching boxes with product ties.
Step #7: Convert clicks to sales
Two conversions must take place in affiliate marketing for you to make money.
Clicking on a product listing is the first conversion.
You’ve got 100% influence over this action. To boost your chances of having a click, use the above strategies.
The second conversion is the visitor who purchases the object. The retailer governs the order and payment process in the case of affiliate marketing, and these transaction rates are beyond your power.
The key is to play the game to your benefit and to search for merchants with well-converting systems.
Here are some ways of discovering them:
A. Reports on Revenue
If people with an affiliate program make good money, they may be well converted.
How do you know if people are making money?
Check the data on public income where bloggers publicly announce how much money they earn for their affiliate business.
On Google, you will find these papers.
For example, if you search for “Amazon Affiliate Income Report,” you will find some blog entries that show how, as Amazon affiliates, bloggers have made money.
B. Ask Questions
You want to participate, sign up, and ask questions if there is not much information about an affiliate program.
For instance, you could find out what the average conversion rates are or what top earners’ monthly commissions are.
This will help you figure out if it’s worth supporting the affiliate program.
C. Use your instincts
It’s best to pursue your intestinal feelings occasionally.
Do not advertise it if the program or item you are looking at seems “off track” or if you would never personally recommend the job to a friend or family member.
No marketing wheel for affiliates has been reinvented here. These are the fundamentals, and you’ll get a good start by applying them.
Just don’t assume life-changing sales. Marketing for affiliates takes time.
Focus on making your first deal to an affiliate. Set fresh targets as your site expands, and keep experimenting.
That way, you are creating a website that will produce a decent income eventually.