Do you know that Jason Stone earned an astounding $7 million from affiliate marketing in a single year? Well, according to Forrester Consulting, US companies spent a combined $5.3 billion on affiliate marketing in 2017 alone. What is even more exciting is that US brands are expected to pay in excess of $6.8B to affiliate marketers by the year 2020.
In a word, affiliate marketing is the new way to earn the big dollar online. So, how can you get a piece of the pie in this industry?
Well, lets find out, shall we?
Affiliate marketing, in its simplest nature, is the practice of promoting manufacturers’ products or services to a target market with a view to locking in a commission as compensation for your efforts. According to Neil Patel affiliate marketing is the only business that helps you make money as you sleep.
I know that sounds too good to be true, but in a way it’s true. Your website never sleeps and so for those who have managed to build authority websites, it’s not uncommon to wake up to sales and profits made overnight while you were asleep!
I don’t want to make it seem easy because there is an immense amount of work that goes into it for one to get to that level. A good rule of thumb in online marketing is to avoid the easy path. I suppose it holds true in all forms of businesses.
There are four players involved in modern day affiliate marketing:
- product owner
- The affiliate website. This is where you come in
- affiliate network where you can purchase the product. (merchant)
The advertiser, is the person or company that sells given products or a set of services online.
An affiliate network is any program that you, the affiliate marketer, can join so that any sales that you make are tracked and a commission paid on the same. Affiliate networks are designed to drop cookies on users’ browsers which are then used to track clicks made to a given affiliate website.
Some popular affiliate programs you may want to check out are Amazon associates, eBay, and Clickbank among many others.
Affiliate programs are free to join. Your job as an affiliate marketer is to direct people to the merchants websites. How do you do that?
By writing reviews on the products that you want to promote. Sounds too complicated?
Here is an example.
Joseph is an affiliate marketer and has a website that he uses to review different brands of work boots. To spice up his website, Joseph has a blog section where he shares short videos on caring for work boots, breaking in work boots, and the reviews on the different brands he has come across.
Each product review that he posts on the blog has a link that directs users to seller’s page. This link contains a special code that is used to track clicks coming from Joseph’s website. If a visitor follows the link and actually makes a purchase, Joseph is awarded a percentage of the sales as a commission for referring a customer to the seller’s website.
Lets check out the steps required in order to get rolling with affiliate marketing.
Choose a niche
Niching entails studying different market segments, identifying their unique needs and subsequently selecting a sub group to promote your affiliate products to. The niche that you choose dictates the kind of content you will post on your affiliate website as well as the products you will be promoting.
Here, passion play a big role. Try not to choose a product just because its profitable. Choose what you are passionate about. I promote a product called the BullyEyes camera lens on this site. Its a product I love and use it quite often. I didn’t need to struggle to come up with content for it. I know it so well
You don’t want your business to feel like a job. You want to have fun so make sure whatever you are promoting is something you love.
Craft a user friendly landing page website
When someone lands on a page on your site, you sometimes you may want to lead them to a separate page where you give the nuts and bolts of what you are promoting before leading the to the merchant. This is your money page. This is your landing page that captures your audience’s eye. A good landing page should be clean, minimalist, and offer immense value to your users.
Choose the right products
Within any given niche, there can be hundreds of products that you can choose to promote on your website. It pays to scrutinize the many products on offer and to choose only those that will fit your users. A good guideline to choosing a good product is checking what your competitors are offering and striving to repackage the same or similar products so they are appealing to potential buyers.
Creating a marketing strategy
Having the right products, an enticing landing page and great content is a solid foundation for a successful affiliate venture. The hard work, however, is marketing your content and creating a loyal following. Having a solid marketing plan that incorporates modern marketing strategies and traditional tips should give you a head start in attracting users to your website.
Begin by writing a guideline on how you want your business to roll out. Here is an important tip that many people ignore. Buy a a diary and write down what you need to do everyday in advance. You will be more productive that way.
Refine your content and marketing skills
Writing content is never easy for a beginner. You will struggle initially. Don’t worry about making mistakes. You will get better with time. I don’t write all my articles. Sometimes I outsource them. That is another way you can go about it, but just remember it will cost you.
I would highly recommend you get the hang of it before you can outsource. Once sales have started rolling in, you should go back to your strategies and refine them for further growth. Doing so will open further avenues of generating larger profits.
So there you have it. Your chance of succeeding in affiliate marketing largely depends on the kind of market segment you focus on, the products you choose to promote, and the friendliness of your affiliate marketing website. Don’t be in a rush to make money while sleeping. There might be a few sleepless nights before that can happen.
But its all good and it can done. Check out the steps that I took and see whether you can replicate them.
Many thanks indeed for reading my post on how to start in affiliate marketing. If you have a question or a comment, please leave it below. I would love to hear from you.
Hi there. Great to connect with you. I worked as a graphic designer for many years but could not seem to make much headway. A few years ago I discovered internet marketing and that is how this blog was born. Hazina is a Swahili word which means treasure. It’s what we do here. We help people just like you find their own online treasure. Check out this amazing community based online education program that has helped me build a successful online business and how you too can have a piece of the action.