Affiliate marketing is one of the most profitable tools at an individual’s disposal –most often used by bloggers. It is one sure way of maximizing finance through a steady income paid by the affiliate brands. According to new research, a 10 percent increase in the use of affiliate marketing has been observed in the US alone in 2018. It has been estimated that by the year 2020, the total money circulating through affiliate marketing is going to average around 7 billion dollars. Thus, there is no denying the effectiveness of affiliate marketing.
Here is my step by step affiliate marketing for beginners guide –for those new to the world of business and marketing.
What is affiliate marketing?
Affiliate marketing is a strategic tool for marketing that involves the use of a third party – the affiliate. Business owners looking to promote their product or services may promise the affiliate a commission on sales, clicks or recommendations. This is not only beneficial for the affiliate, as they will be able to profit off of the sales of the business, but also for the business because they will have access to a wider market. Meanwhile, customers still remain satisfied because of the cost they have to pay still remains the same.
If you are looking to tap into the world of affiliate marketing, there are only a few things that you need to learn before. You want to ensure that you have the necessary skills to maximize your profits before you enter the market.
So where do I get these special Skills?
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How will you make money with affiliate marketing?
The very first thing you need to understand is how you will earn through affiliate marketing. It involves a great deal of market research; the more you know about the interests, desires & needs of the market, the better the position you’ll find yourself in.
Through affiliated marketing, links promoting businesses’ products are published onto various websites and/or landing pages. When potential customers click on the link and actually purchase a product or service, you are able to profit off of their action. The more people that utilize the business’ products and services that you recommend, the more profitable you will find yourself to be.
What factors determine the pay of the affiliate?
Affiliate marketing is one of the easiest and fastest ways through which you can generate an income. However, the factors that determine how you are paid may vary from business to business. It could be on the basis of:
The standard is that an affiliate is paid in accordance to the number of sales made by customers through their platform. The business will pay the affiliate a percentage of the price of the product.
If an affiliate is able to turn the attention of their market towards the business, they are paid in accordance. This would entail that an individual becomes an active member of the business by subscribing, opting for trials or signing up for email updates.
The number of clicks the affiliate is able to generate for the business, the more compensation they are able to secure. They have to successfully persuade their market to click on the link of the business and become more informed about their products or services.
How much money can affiliates actually make?
Due to the fact that the payment methods are so different, most affiliates earn different amounts. Some may only earn a few dollars on a monthly basis whereas others may be successful in bagging thousands of dollars. Not only is the payment method a reason for this but also the changing trends in the market. Things become popular just as easily as they become routine. It also depends on the degree of influence an affiliate has over the market and the sheer size of their market. If you are lucky enough to have all the aspects favor you, you may be able to earn a steady income.
How can you become an affiliate for a product?
Anyone can become an affiliate after they complete the following steps:
- Nail down your niche
Determine what sector of a market you are interested in promoting. If you need help with this, see my article 4 Quick Steps to finding your niche.
Next, you need to register as an affiliate on an e-commerce website. This will put you on the map and will provide an avenue for businesses to approach you.
- Market Research
Once you have registered, you should find out the interests of your market. This will give you an opportunity to advertise products or services that your market is looking for, thus ensuring more sales, clicks, and leads.
- Business Search
The next step is to look for businesses offering services or products that are desired by your market.
Approach those who are looking for affiliate partners – it will generally be advertised on their website. Once you have reached an agreement (usually by filling out an affiliate form online), you can go onto marketing their product/s.
What smart strategies should you adopt as an affiliate?
There are many strategies that you can use in order to enhance the number of sales, clicks or leads achieved through your platform. They include:
- Use of Keywords
Keywords are essential when it comes to marketing; people insert keywords into search engines in order to filter out the most irrelevant content. Not only will it help you by attracting more people to your website but will also manifest in monetary gains once you are able to successfully redirect your new market to your affiliated business. See my article on Jaaxy – A great keyword tool.
- Use of Links
Once you have decided on the kinds of products and services you want to promote, start considering ways through which you can incorporate links into your content. You can use reference links or hyperlinks, depending on what is relevant for your content. The only thing you should be careful of is providing the right link, ensuring that the link works, and compels people to click on it. In time, you will be able to track your performance through things like Google Analytics which will show you how many click-through rates you’ve got. From there, you will be able to adjust your content accordingly.
- Building Influence
As a beginner, you will want to ensure that you have substantial influence over the market so that your affiliate marketing venture is successful. In order to enhance your influence, you will need to have content that is tailored to the interests of the market. As you become more popular, people will trust your recommendations and follow through with your affiliate product recommendations.
- Personal Recommendations
After a certain amount of time, you can even start reviewing products and giving your market insight into their use, functions, advantages, and disadvantages. Adding a more personalized touch by giving a recommendation at the end may be the last persuading factor for potential customers to become loyal customers of the business and their product/s.
- Use of Various Platform
As an affiliate, you want to ensure that you are doing whatever possible to keep up with your end of the bargain. Thus, you need to explore different platforms; try writing blogs, reviews, creating video content, podcasts, using social media, creating a website and the like. These will give you and by extension the affiliate business, access to an untapped market.
- Staying Trendy
One of the best ways to move forward is to ensure that you keep up with the changing trends of the market. Marketing is a tough and competitive field that requires you to be on your feet constantly. Thus, you need to ensure that your market research is up to date so that you can profit off of the latest trends.
What are the latest affiliate marketing trends in 2019?
Speaking of trends, 2019 is observing a change in the way affiliate marketing works. The most apparent changes are:
With the majority of online searches today being performed on mobile devices it is now critical to make your website mobile friendly. With Google moving toward mobile-first indexing, you really want to be aligned with this new technology. Refer to the reference section at the bottom of this article to read more.
Optimizing for Voice Search
Home assistants such as Google Home, Siri and Alexa are changing the way people interact with the internet. Remember the parrot who ordered stuff from Amazon while its owner was away? In order for affiliate marketers to stay current, this will need to be in their radar.
You can bet that leading companies such as Google, Bing, Yahoo, Amazon, and Facebook are all seriously involved in figuring out this area.
Leveraging Targeted Advertising
Companies such as Google, Bing, Facebook offer increasingly sophisticated and very targeted advertising opportunities for affiliate marketers. You can choose the type of advertising you want to use such as Search Ads, Display Ads, Video Ads, and App Ads. From there you can drill down to any level including age, income, gender, etc.
This gives you incredible power in your business and saves enormous amounts of time and resources.
Since 2017, influencers have become highly popular. In 2019, you can even regard them as celebrities that have control over social media. Through these influencers, businesses are able to tap into thousands and thousands of followers across the globe. A single recommendation or ad is enough to increase brand awareness, if not sales.
The most apparent change in 2019 comes in the form of attribution –particularly last click attribution. Usually, the affiliate who was able to secure the last click of a promotional campaign receives the full credit for it. However, nowadays detailed data has allowed businesses to observe the overall function of marketing strategies and their effects holistically. Thus, the last click rule is not applied and payments are made in regard to total contribution.
After the General Data Protection Regulation in the EU, affiliate marketing has been put under the spotlight. In order to truly understand market trends, for the purpose of research, affiliates are required to include opt-in policies that give users a choice in regard to their data being collected. While this makes research harder, it has actually been passed for the protection of the privacy of individuals.
Affiliates are more empowered than ever
In light of the importance of affiliates in regard to accessing newer markets, increases in sales and click-through rates, they have started becoming more empowered. They ask for higher commissions, increased status and better quality deals in return for advertising through their platforms. Businesses are inclined to agree to their terms and conditions because of the massive benefit they get out of affiliate marketing.
Retailers with websites are getting in on the action
With the rapid pace of online sales, retailers are seeing the benefits of partnering with affiliate marketers. Many e-commerce retailers are launching their own affiliate programs so they don’t miss out on sales to a competitor. This opens up even more opportunities to existing (and new) affiliate marketers.
Content is still King!
Looking at affiliate marketing from any angle, content is still very important. Yes, the way content is looked at may be changing, but it still matters – big time! And it’s not just any content either. It’s the value that readers get from the content that matters. So it must be very helpful, genuine and point out the good and bad (if any) of any product or service.
I hope that you have found this article helpful in your quest to learn the affiliate marketing online business. While the amount of information may seem a lot at the beginning, as time goes by and you become more familiar with the business and everything gets easier. This is why I recommend getting training from successful affiliate marketers.
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