Affiliate marketing has been an existing business right from the advent of e-commerce.
However, this “Old fashioned” way of earning money online is still waxing strong due to the numerous benefits it gives to small-scale, solo online entrepreneurs. And it’s an extremely prominent business model to the inexperienced ones online. Most prosperous online entrepreneurs today earned their first dollar through affiliate marketing.
Here is why affiliate marketing is such a famous online business model:
- Absence of Inventory: You do not need to rent or create products or warehouse space for storage. Simply put, you don’tneed to invest your funds in stock that may probably not sell.
- Low-Cost: With affiliate marketing, you don’t have to invest any much startup cost.
- No Hassles: You don’t process or ship orders. No handling of returns or making of phone calls!
Being a hassle-free business model, affiliate marketing helps you focus on promotion, sales, and revenue. It’s the ideal business model for the newbie.
A Recipe for Affiliate Marketing Success
A key component to success in affiliate marketing is choosing the right products to promote. These could be memberships, digital information products, online services, or physical products. There are so many niches that leverage this model.
Talking about target markets, you may want to streamline for those famous industries with proven and solid sales records.
Why waste your time and resources when you can leverage the sales potentials of well-known products that people admire? The awesome thing is that you can run an affiliate marketing business in a niche you’re interested in – you can merge interest with profits.
Here is a guide to perform your needed market research:
- Have a close watch on Twitter and Facebook for popular trends. What types of products or niches are really selling?
- What is currently on the news? What’s everyone talking about out there?
- What are the hot selling products on platforms like eBay and Amazon?
The more sales potential a niche or product has, the more profits you can make. A famous product means more sales. Some famous niches include Natural health, Yoga, Supplements, Apps, Dating, Investment and Financial Advice, Gluten-Free, Video Games and many more.
While most amateur marketers run away from markets that are famous and competitive, prosperous marketers know that those are the markets to focus on because it’s the most promising market.
Getting Affiliate Partners
A lot of affiliate programs are out there dealing in just any service or product creditable, though not all of these are made equal. You want to become part of a reliable program with a status for caring for its partners and paying the right commissions to them.
Whenever you come across an affiliate program that you believe has a sales potential, perform a quick Google search or search affiliate marketing related forums to find out what users have to say about them.
Here are well-known affiliate partners with good standing:
- Rakuten.com (previously Buy.com) is a pro online retailer dealing in groceries and electronics.
- Clickbank.com focuses on downloadable, digital information products.
- Commission Junction Affiliate works with some of the most-famous brands in the online world.
- Amazon — have you shopped here? Do you know the range of products it offers? If yes, join the Amazon Associates program and make the most out of it.
Promoting Your Affiliate Marketing Products
Social media is a prominent way to spread the word about your entity.
Everyone is on Twitter and Facebook today. And they aren’t just sharing exciting dog videos. Frequently, they do have reasons to purchase, particularly if they find an appealing offer on their feeds.
SEO is a free marketing approach, even though it’s a bit more daunting but it brings optimal results in the end. It requires a consistent blogging practice, publishing useful and informative posts on your blog consistently and perhaps frequently.
You publish articles 4-5 times per week. And with time Google rewards you with higher rankings for constantly delivering awesome and useful information through your blog. The higher the rankings, the more the search engine traffic, the more the revenue!
Have your mailbox scanned now. You might have a couple of emails you received from some merchants or other enterprises you have passion for. That’s email marketing and, of course, an excellent tool for affiliate marketers of all levels.
Typically, you invite visitors to your landing page, website, social media network or blog and ask them to leave their email addresses. And you can send to them informative content together with exclusive offers through electronic mail.
Email helps to build relationships with your potential clients. You frequently send those offers and valuable content related to your specialty, perhaps a newsletter, or promotional emails like sales emails, directing them to your sales page and asking them to make a purchase.
The valuable information you frequently provide to them makes them get to know, trust and like you and your brand, which makes it more feasible that they will make a purchase.
Paid advertising is supposed to be your very last step in promoting your various affiliate products. You want to be sure you’re in an MMO specialty and a variety of products proven to sell well and a solid sales funnel that will persuade the prospects to make a purchase. This way when you invest the funds in paid advertising, which is likely to cost a whole lot of money, you should get a considerable ROI.
Pro tip: Start little with paid advertising. Check things out first. And once you’ve come up with a strategy that works and you’re sure that returns are feasible, you may then roll out a powerful paid advertising campaign for your affiliate marketing business.
Starting an Affiliate Marketing Business
You’ve got the entire structure for an ideal affiliate marketing business, with a detailed guide for starting out.
It may be inordinate at first. But if you can run it one step after the other, you’ll be able to do it and achieve great success in the business. Make sure you take steps related to building the business on an everyday basis, dedicating an appreciable amount of time. Certainly, with time you’ll successfully launch the business and succeed.