Introduction to how to make money with Affiliate marketing
Affiliate marketing is the process of making money online by promoting other people’s products. The affiliate marketer simply searches for a product, then promotes that product and earns a cut of the commission from each sale they make. The sales are traced out through affiliate links from one website to another.
A guide of how to make money with Affiliate marketing
You can make money online through affiliate marketing, even if you don’t have a blog, website, or any products on your own. Following a few steps can get your first commissions right away. Affiliate marketing is one of the fastest and easiest ways to make money online and should be a part of every online business owner’s portfolio.
The biggest benefit of affiliate marketing is that you can more or less earn revenue on autopilot once it is up and running. All you need is a steady flow of traffic to your blog or website. However, there are some downsides.
In this article, we will let you know how to start affiliate marketing and how to make money with affiliate marketing and some other details of it. Let’s jump into the content:
How to get started with Affiliate marketing
Follow these seven simple steps to get started with affiliate marketing:
- Decide on a platform
- Choose your niche
- Find affiliate programs to join
- Create great content
- Drive traffic to your affiliate site
- Get clicks on your affiliate links
- Convert clicks to sales
Step 1: Decide on a platform
Theoretically, you can do affiliate marketing on any platform. Even Instagram works. However, it’s much easier to build an audience and increase your affiliate sales via one of two channels: a blog or YouTube channel.
Starting a blog today is relatively easy and cheap. There are plenty of tutorials online that teach you how to get started.
Step 2: Choose your niche
Let’s be honest: if you’re starting a blog today, you’re facing a ton of competition. Choose a topic that focuses on a specific category. For example, the topic of “food” is an enormous category. Rather than tackling that, try something more specific, like grilling food.
Keeping your topics tight can help you build a more focused audience and potentially help you rank higher in search engines. Many affiliate sites die due to a lack of consistency. So at the very least, if you’re passionate about a topic, you’ll find it much easier to press on when the going gets tough.
Step 3: Find Affiliate programs to join
There are three types of affiliate programs to choose from.
- a) High-paying, low-volume affiliate programs
These are affiliate programs for niche products with high payouts.
There also tends to be more competition for programs with high commissions. Since you’re probably just starting, it’ll be quite challenging to make a meaningful amount of money competing against skilled marketers with deep pockets.
- b) Low-paying, high-volume affiliate programs
These are affiliate programs for products with low payouts but mass appeal.
The redeeming quality of these types of programs is that they usually offer tons of products to sell. Take Amazon’s affiliate program, for example. You can earn up to 10% commissions on almost anything Amazon sells. The other good thing is that you often get commissions on the entire value of the purchase rather than just the product you recommended.
To make these types of affiliate programs pay, you’ll need lots of traffic.
- c) High-paying, high-volume affiliate programs
These are affiliate programs for products with mass appeal, which also pay high commissions.
One example is credit cards. Everyone needs a credit card, and most people stay with the company for years (sometimes even decades!). The downside of these types of products is that they attract affiliate marketers with lots of expertise and deep pockets. Some also use spammed tactics that you just can’t compete with.
Step 4: Create great content
If you want your affiliate site to succeed, you need to create high-quality content where your affiliate links fit naturally. Don’t just blindly curate products from Amazon’s best sellers. Go the extra mile to make sure your content solves the visitor’s problem.
If you don’t have money to buy every single product, you can always start with what you have at home. For example, if you had a tech blog, you could create reviews on the gadgets you own.
Step 5: Drive traffic to your affiliate site
You’ve created great content. The next step is to get more people to read it, so they will click on your affiliate links.
Here are three traffic strategies to consider:
- Paid traffic
- Search engine optimization (SEO)
- Build an email list
Step 6: Get clicks on your affiliate links
Just because you have an amazing piece of content doesn’t mean people will click on your affiliate links. There are a few things you need to consider to get clicks on your affiliate links.
- Link placement
Step 7: Convert clicks to sales
In affiliate marketing for beginners, two conversions need to take place for you to make money.
The first conversion is the click to the product page. You’re 100% in control of this action. Use the tactics above to improve your chances of getting that click.
The second conversion is the visitor purchasing the product. In the case of affiliate marketing, the merchant controls the checkout, and their conversion rates are out of your control. The trick is to play the game to your advantage and look for merchants with programs that convert well.
Here are a few ways to find them:
- Public income reports
- Ask questions
- Use your intuition
Affiliate payment types
The affiliate may get paid in various ways:
Pay Per Click (PPC): You can make money online based on the number of visitors to the advertiser’s website.
Pay Per Sale (PPS): You can make money online when the purchase is done. The advertiser pays you a percentage of the sale.
Pay Per Lead (PPL): You can make money online when the visitor provides contact information on the advertiser website.
Let’s break down this process into more detail to make sure you know exactly how to make a successful affiliate marketing strategy.
How to make money with Affiliate marketing
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Just focus on five critical steps to launch your own profitable affiliate marketing business quickly and easily.
Choose a niche
Before going to begin building your first site, you’ll need to decide on which niche you are going to target. Obviously, you can’t really build a site around it, if you don’t know what your site is about or who you’re going to target with it.
If you’ve already figured this one out, way to go! This is undoubtedly one of the most difficult and overwhelming steps.
Research Affiliate programs
Once you’ve decided on a niche, it’s time to research what products are there to promote in terms of programs. You’ve already done a bit of research for this while researching for your niche now you need to dig deeper.
Choosing an affiliate program will take some work, but don’t be afraid to invest a significant amount of time into it because this is, of course, where your income will come from. However, when you’re just getting started you should limit yourself to two or three products at a time. This will allow you to really become an expert on the products you are promoting which can be helpful when it comes to marketing those products
Create a website
In order to work as an affiliate marketer, you’ll need your own personal website or blog to post links and advertise for your chosen products or services. If you already have a website or blog, you can use that platform as an affiliate marketer to begin earning additional income. You will need to create one if you do not yet have a website or blog.
Produce excellent content
Now that your site is set up and you’ve joined an affiliate program, you’re ready to begin perhaps the most time-consuming part of the affiliate business is producing content. This is where the overused but truer-than-ever phrase “content is king” comes into play.
Your goal for your site will be to establish it as an authority site in your niche, and the main way to do this is to consistently produce unique, high-quality content.
Build an audience
Building an audience for your site will start producing excellent content. An interested audience will not only bring you compatible traffic but also result in consistent sales.
Here are some ideas to start building an audience for a completely new site:
- Promote your content via social media
- Guest post on high-traffic blogs
- Build an email list
- To increase search engine traffic to your site use basic SEO techniques
- Invest in paid advertising
Promote Affiliate offers
Finally, the part we’ve all been waiting for! You can promote your offers in many ways. It will depend on the type of site you’ve built and also what you’re selling.
Some ideas to promote affiliate offers:
- Product reviews
- Banner ads
- In-text content links
- Email promotions
- Discounts and giveaways
How much profit you can make from affiliate marketing?
The affiliate marketing industry is growing steadily. The range of commission for products may range between 4-15%. On the other hand, services like email marketing tools, hosting, or software that are service-based will earn you higher commissions. According to the survey, 9% of publishers produced more in affiliate income in 2016. The majority of merchants said they were making between 5% and 20% of their annual revenue from affiliate marketing.
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Tips to an Affiliate marketer
Here are some tips to be a successful affiliate marketer:
- Be patient
- Choose more attractive products
- Use several traffic sources
- Know the legal requirements
- Attract targeted traffic
- Test, measure, and track
- Research product demand
- Follow new methods and techniques
- Select the right advertiser
- Use tools that help you to conduct market research
Pros and cons of Affiliate marketing
Here is the list of pros and cons of Affiliate marketing:
Pros of Affiliate marketing
- Low overhead costs: Most affiliate programs are free to join.
- No physical products: There is no need to create a product or service because you are choosing one that already exists.
- Flexibility: You can work anytime and from anywhere as long as you have internet access.
- Supplemental income: There is passive income potential, but it depends on how you market your affiliate programs.
Cons of Affiliate marketing
- Time: It takes a commitment and experimenting over a length of time to generate the amount of traffic needed to result in income.
- Lost payments: Affiliate hijacking can occur in which you’re not given credit for your referral.
- Lack of control: You have no control over the businesses’ fulfillment of a given product or service.
- Competition: Affiliate marketing is highly competitive. Many affiliate marketers promote the same products and compete for the same traffic.
- Lack of ownership: The customers belong to the merchant. By seeing your stats you will come to know that how many sales were made of what product.
The bottom line on how to make money with Affiliate marketing
Affiliate marketing can be profitable, but it takes a commitment of time and money to make it a real business. Do proper research, before you jump into affiliate marketing.
Whether you are starting a new business or already have an existing business if it is online or offline, affiliate marketing is a great way to make money online. All you have to do is, recommend suitable products or services to your customers and the vendor of the product you are promoting handles everything including product creation, handling the sales process, customer service, refunds, etc.
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