Affiliate marketing is a passive way for you to earn commissions by promoting the products or services of others. As an affiliate, you will act as both a marketer and a salesperson for the merchant in exchange for a commission on the sale of a product or service.
In this case, the affiliate looks for a product they love and promotes it to their audience. They earn commissions each time they make a sale.
Sales are typically tracked via affiliate links from one site to another.
An affiliate, in simple terms, promotes a product or service by sharing content on their website, blog, or social media platforms. In return, they earn a commission from the merchant if someone clicks through one of the dedicated tracking links and purchases something or converts it into a lead.
If properly utilized, this performance-based venture can become a business bringing in a decent income every month.
This industry is rapidly expanding, with no signs of slowing down any time soon. Over 81% of brands now have affiliate programs, and the industry is expected to grow to $8.2 billion in the United States by 2022, more than tripling from ten years ago.
How Much Money Can You Make With Affiliate Marketing?
The amount you can earn will vary greatly – it will most likely be somewhere between zero and millions of dollars.
The types of offers you promote, the amount of traffic you bring to the site, and your understanding of other online marketing skills like Email Marketing and SEO will all affect your earnings.
It’s crucial to know where to begin when learning how to become an affiliate marketer. It’s all too easy to put the cart in front of the horse, and that metaphor applies to a wide range of situations.
Before you contact a merchant, you must do a lot of legwork to find merchant partners, high commission affiliate programs, or affiliate marketing jobs that pay well and are consistent.
While there has been a substantial crackdown on the “scammy” side of making money online in recent years, the unfortunate truth is that there is still a lot of garbage out there.
How to Start Affiliate Marketing?
1. Decide on a platform: Affiliate marketing can be done on any platform, including Facebook, Twitter, YouTube, and even Instagram. It’s a lot easier to grow your audience and affiliate sales if you choose the following Platform:
- YouTube Channel
Once the site is up and running, optimize it for search engines to increase your chances of ranking.
Then, given that you must disclose that you are including affiliate links, you can add links to your description. When you receive money from an endorsement, the Federal Trade Commission requires you to be transparent.
2. Choose your niche: If you want to start a blog, you should first choose a niche and then a topic that focuses on that niche. This can help you target a more specific audience and improve your search engine rankings.
Later, when your audience has grown, you can focus on the topics that interest you, and your site will not die due to a lack of consistency.
3. Find Affiliate Programs to join: There are three types of affiliate programs from which to choose:
- High paying, Low volume – These are the affiliate programs for niche products with high payouts. There tends to be stiff competition on such programs. (Example- CovertKit’s Affiliate Program)
- Low paying, High volume – These are the affiliate programs for niche products with low payouts but mass appeal. The redeeming quality of such programs is that they offer tons of products to sell. (Example- Amazon’s Affiliate Program)
- High paying, High volume – These are the affiliate programs for niche products with mass appeal and high commission.
The programs you choose are determined by your niche and level of expertise.
4. Create Great Content: All you have to do is write high-quality content that includes affiliate links. If you’re writing a review, for example, buy the product and put it through its paces.
If you don’t want to buy anything, you could review the items you already have at home. As a beginner, that’s always a good place to start.
5. Drive traffic to your Affiliate Site: The next step after creating great content is to get more people to read it and click on your affiliate links. There are three options to consider:
- Using Free Traffic: Any social media platform you can think of is a source of free traffic. So, to name a few, there’s Facebook, Tumblr, Twitter, and Instagram. As a result, there are two types of free traffic: search and social media.
- Social: People use social media platforms like Facebook, Instagram, and Twitter for fun and games, resulting in social free traffic. This has both a positive and negative side.
The benefit is that you can establish trust in people who aren’t actively looking for what you’re promoting; the disadvantage is that people aren’t actively looking for what you’re promoting.
- Search: People use search social media platforms to actively look for answers to questions. Something along the lines of Youtube, where you can find a plethora of videos on any subject you can think of.
People are more interested in your offer if it solves their problem or answers their question, which is an advantage of using search social media.
- Using Paid Traffic: This is where you pay for website traffic. PPC ads can be used to accomplish this. The benefit of this is that you can start paying for traffic as soon as you start paying for it. Let’s look at two different types of paid traffic.
- Social Ads: Ads on social media platforms such as Facebook, Twitter, and Instagram are known as social ads. It’s what shows up in your feed when you’re looking for your friend’s latest meme.
- Solo Ads: When you buy solo ads, you are effectively paying to use someone else’s email list while simultaneously building your own. Building a list allows you to develop a relationship with your subscribers in the hopes of selling them something later on.
The most used site for solo ads is a site called Udimi, which has a large number of vendors all with lists from people around the world. You still want to be careful because some vendors use bots which will result in a lot of clicks but no opt-ins.
- Build an Email list: This enables you to interact with your readers at any time. Use them to notify fans of new content and encourage them to return to your site, resulting in more affiliate clicks and sales.
6. Get Clicks on your affiliate links: This necessitates taking into account the following factors:
- Link Placement: In your introduction, every other word should be a link; placing links at the end of the content will rarely result in clicks.
- Context: The context should be appropriate and clear.
- Callouts: To draw readers in and make the post more skimmable, use callouts such as buttons, tables, and boxes.
7. Convert clicks to sales: To make money, you’ll need to complete two conversions.
- Click on the product page
- Visitor purchasing the product
The merchant controls the checkout in affiliate marketing, and their conversion rates are out of your control; all you have to do is find merchants who have programs that convert well.
Be well-prepared and well-planned.
Starting an online business, like any other business, is an adventure. And a journey necessitates the use of a map and a strategy. You’ll need to know where you’re going, how you’ll get there, and other crucial details about the journey. You’ll also need to be adequately prepared.
Let’s take a few moments to look at some of these issues in greater depth. As I’m sure you know, the Internet is a treasure trove of information – some good, some bad. Some are useful, while others aren’t.
But, even if we ignore the negative aspects, we still have access to an enormous amount of data.
It could even be said that there is too much information in some cases. And that is most certainly the case when it comes to starting an online business.
Reach more consumers through paid advertising channels
After you’ve made some sales, you can expand your target audience even further by using paid digital channels like Google Ads, Facebook Ads, and native ads.
You can begin by joining affiliate networks and looking for products to promote in your niche, or you can contact companies directly and ask them to collaborate with you if you are interested.
Another advantage of being an affiliate marketer is the ability to work for a variety of merchants. You are free to take on as many jobs and promote as many products as you like.
It’s not difficult to become an affiliate marketer, but it does require some upfront effort. It’s best to build an audience before you start affiliate marketing, but you can still be successful even if you don’t.
It simply takes a little longer to generate a sufficient number of sales.
What you should do?
Given everything we’ve discussed thus far, the fact that an online business is by its very nature a technical business, and the abundance of information available, how do we decide what tools, training, and strategy we require?
More of a “trade” than a “business”, We don’t have a business when we’re just getting started. Building a business takes time. It also necessitates a foundation from which to build.
You’ll have to focus on one thing at a time unless you already have the necessary knowledge and resources to launch a full-fledged, multi-faceted business right away. It also has to be the right thing to do.
How to Focus on the Right Things
Unless you already have everything you need to start a fully functional, full-fledged business, you’ll probably need to first get trained in a specific “trade.”
What you really need to do is concentrate on one ‘project,’ preferably one that will generate income. The main issue is that most of us work on too many projects at the same time.
Instead, we should begin by focusing on a single project and then purchase/plan accordingly. And our plan will be based on what we need to buy in terms of the right tools, training, and so on.
In order to finish the plan, we must first build out our trade. Let’s say you want to work as an affiliate marketer. “What do I need for affiliate marketing right now?” ask yourself.
There are many things on which you could concentrate your attention, but are they relevant to what you’re doing now?
Right now, nothing else matters. You must set aside everything else. You must complete the project!
Before the final call
The ball is now in your court after this lengthy discussion on how to get started with affiliate marketing. As you prepare to begin, it may feel a little overwhelming.
Things aren’t as difficult as they appear. Once you’ve gotten into the swing of things, the sale will come your way, and you’ll see how your hard work is paying off.
Remember, this is a long-term project that requires your undivided attention. All it takes is your patience, dedication, and lack of frustration.
The only thing you need to do now is get started. You will always have opportunities to learn new things along the way. Don’t spend too much time figuring out where to begin or how to get started.
Don’t be afraid of making mistakes. You will learn more valuable lessons if you make more mistakes.
Following these steps, you can begin Affiliate Marketing and earn a very healthy monthly income that you can rely on.
You can earn money by working on various platforms. This is a great way to make money online because as soon as you get started, you’ll learn new things, tricks, and tactics.