Affiliate marketing is one of the best options on how you can earn money passively online. Unlike starting your own business from scratch, this method is a safe and low-risk option that many bloggers are exploring. And it also, it has the potential to be your full-time job and your primary source of income.
What exactly is affiliate marketing? Affiliate marketing is a commission based arrangement between the retailer and the affiliate. Affiliates refer customers to a particular retailer and they earn a percentage from that sale in return. Depending on the niche and company, affiliates can have as much as 40% commission. Also, there are those arrangements that offer a fixed incentive.
So is it really a good option or simply a waste of time? Affiliate marketing can give you either an extra income or even a sustainable source of income that can pay for your bills. However, keep in mind that it involves a lot of work. From generating traffic on your website to finding the right niche, these are just some of the most difficult tasks ahead as an affiliate marketer.
What makes a successful affiliate?
Find the right niche
A successful affiliate needs to know who his or her market is. In reality, you don’t need to be savvy when it comes to coding and online marketing in order to be successful in affiliate marketing. As long as you can capture an audience and convince them to purchase a product that you recommend, then you are good to go.
But of course, finding the niche can be a bit more complicated than what most people think. You just can’t pick just any product. It is important that you are specific who you target as your audience. This way, you will know exactly their buying propensity and their interest. It becomes easy to profile which products match their personality and buying propensity.
Next, by choosing the right niche, you also have an idea about the most likely budget that they are willing to spend. And therefore, you can choose the right product or service on your website or channel.
Produce content regularly
It is important for an affiliate to produce highly informative content regularly. Not only does it increase your followers, this also helps the websites improve in terms of ranking. Also, you have to understand what type of content your audience wants. It is important that you don’t just produce content for the sake of selling products or services. What you want to provide your audience is primarily useful content that has practical value for them.
The challenge is producing highly-informative and share-worthy content regularly. It could be weekly content or even bi-weekly. But the point is to have a regular influx of content that signals search engine algorithms that your site is regularly updated. And in addition to this, you build trust among your market that you continuously provide content that is useful for their niche.
Joining the right affiliate marketing program
It is important that you don’t just join all the affiliate marketing programs that you could get your hands on. Instead, you have to take the time to scrutinize and ensure that you get the best out of the deal as well. You want to take a closer look at the minimum payout in the affiliate program. Also, you want to at least know the percentage and the take-home pay that you get.
There are even some affiliate programs that don’t even provide you with cash but simply credits that are consumable within their site. One example of which is Airbnb. Airbnb allows you to have credits that you can use for people that signed up using your affiliate link.
Always protect your reputation
Though you want to sell as many products as you can using your affiliate link, be sure that you prioritize building and protecting your reputation as an affiliate. You want to be honest whenever you are recommending a product or service to your audience. It is a necessity that you are also honest with the products that you promote. Be sure that it doesn’t sound like a hard sell. In some instances, it even helps if you will be transparent with your audience and tell them that you get a small portion of what they are going to purchase.
Being an affiliate is never easy!
Should you become an affiliate? Before you even decide to jump into the world of affiliate marketing, you have to understand that you will be facing challenges along the way. And most of the time, it can get frustrating.
For one, you will have to decide how to generate traffic on your site. For this, you will have to understand that you will need to combine both organic and paid methods in order to get your market’s attention. Adwords, Facebook Ads, SEO, and even guest blogging are just some of the most common ways on how you can get your name out there for your market. Keep in mind that it can be the most difficult part especially when you still don’t have a lot of content to show to your audience.
Be sure that you focus on the quality of your content to solve this concern. Give your audience a reason to go back to check on your site. Understand that sale will come later once you have an audience that visits your site on a regular basis.
And of course, you might be concerned that even if you have sufficient traffic on your site but you still can’t get to where you want in terms of sales commission. Conversion is a totally different art than just generating traffic. Though it is true that you have more potential customers with more traffic, you have to understand your audience’s psyche first before you can regularly generate sales. You also need to learn the art of appealing to your audience’s emotion in order to effectively convince them to use your affiliate link.
Is affiliate marketing a waste of time? Given the points that we have raised, affiliate marketing will remain as a staple in today’s online marketing for different reasons. One, it helps retailers move their products to the right people. By including the right affiliate on their affiliate marketing program, it helps widen their network and introduce the product to prospects. Also, affiliate marketing is highly beneficial for affiliates because it can provide them with a passive income.