Making money from home was something most folks did not consider seriously in the past. Now, with the coronavirus sweeping across the world, it has become the only option of many.
Thankfully, the web is vast and wide, with plenty of different ways to earn an income. Affiliate marketing is a very lucrative option for beginners. It is one of those things that are easy to pick up, with minimal technical or specialized knowledge.
What is Affiliate Marketing?
If you want to sell something online, you have to put your name out there to attract customers. Digital marketing involves many channels like Google ads, email marketing, SEO, etc. Affiliate marketing is one such option, quite popular among small and medium businesses.
You become an affiliate marketer by starting a blog or website where you promote certain products or services. This is done under an agreement with the business selling these products.
The website or blog will have links to the platforms selling these products. You earn a commission each time someone visits the marketplace using your links and makes a purchase.
Affiliate marketing usually involves at least three parties – a seller, the affiliate (you), and a buyer. It is your job to act as a link between the seller and the buyer using your website or blog. Quite simple, isn’t it?
Running an Affiliate Program – The Basic Steps
1. Pick a Niche/Segment
To become successful in affiliate marketing you need an online presence. This will be in the form of a blog/website that focuses on a particular niche like golf clubs, or baking, or PC parts, or whatnot.
This makes it easier to attract a dedicated audience and folks who might be more interested in buying the products you promote. Being a “jack of all trades” will reduce the long-term efficiency and earning potential of your affiliate program.
2. Create a Website or Blog
Once you have picked a niche that you are familiar with and would love writing about, it is time to create a website/blog. These days, it is incredibly easy to find hosts for blogs online. Many of them even offer free/cheap services, with the option of advanced paid features. If you have no idea how to create your website, it is great to find the best and the cheapest way to make a website.
Pick a basic plan, create an account, and log into your blog. Play around with the design templates and add content in the form of posts, product reviews, video links, and more. Increase your audience using social media, friends/relatives, and other promotional channels.
3. Pick an Affiliate Program
The easiest method to get started with affiliate marketing is to join a program run by an established brand or online marketplace. The best example is Amazon, which has a massive Affiliate Program. Sign up and you can promote any product that is sold on Amazon.
You may also link up with multiple affiliate programs in the same niche. You don’t necessarily have to promote physical products on Amazon or eBay to become an affiliate marketer. You can also delve into the booming world of digital services.
One very lucrative niche is online gambling, also called iGaming. Instead of partnering up with a huge platform, you can promote individual sites and earn commissions. And there are hundreds of small and medium-sized casinos that use affiliate marketing as their main form of customer acquisition.
4. Churn out Quality Content
Affiliate marketing requires a long-term commitment to become truly successful. You can run it as a full-time or as a side activity, but the important thing is to keep promoting your brand partners.
This involves constantly creating content in the form of product reviews, industry news, analysis, and more. It is important to increase your audience using smart SEO tactics and collaborations with other bloggers or social media partners working in the same niche.
You can also make use of sales promos, discounts, and other marketing tactics that your brand partners come up with from time to time. Leveraging bonus codes can help your affiliates succeed. The iGaming industry is most well-known for running crazy offers.
5. Keep Track of Your Performance
Affiliate marketing is a numbers game at its core. You have to pay attention to the various metrics. How many of your site visitors actually go on to become buyers of products? What is your Google SERP ranking like?
All these are important factors that you can keep track of using various online tools. Some of them are freely available, while others are provided by affiliate networks that you partner with.
Advanced Tips for Affiliate Marketing in 2020
Those are the five main steps to becoming an affiliate marketer in 2020. To build a truly kickass affiliate marketing career, here are some advanced tips:
• Pick products and brands with care – This may sound simplistic, but bad products/services will be harder to sell, in the long run.
• Don’t restrict yourself to one affiliate brand – Find multiple partners whose products you can promote to make your business more versatile and resilient.
• Be transparent about your affiliate connections – new laws like GDPR and FTC guidelines make it mandatory that you tell your audience about any commissions.
• Build trust with your audience – This is crucial for long-term success. Only promote products that are a good fit for your audience. Do not do aggressive sales. Focus on recommending or suggesting products.
• Staying relevant and abreast with the current trends is more important than ever before. With online businesses going into overdrive thanks to the pandemic, affiliate marketers are also upping their game.