Find out if affiliate marketing is worth your time and whether you can make as much money as everyone says you can. This article explores the ins and outs of affiliate marketing and explains the best way to get started.
What is affiliate marketing?
Affiliate marketing involves promoting products or services from other businesses and getting paid a commission when you generate a sale for them. Some businesses will pay more commission than others, generally speaking digital products like software and online courses will give higher commissions with some being over 50%. Affiliate marketing has been around for just over 20 years and is growing fast as more people are starting to discover it.
How do affiliates make their money?
Affiliate marketers are all over the internet and are advertising products on numerous platforms. The two main ways affiliates promote their products are through YouTube or blogging. This way affiliates can grow a community and create a bigger audience to advertise their affiliate links to. Affiliates also use other platforms such as twitter to grow an audience, but this is typically on a smaller scale.
Affiliates will normally promote products in a niche they are associated with. People who are involved with make up will advertise products like lipstick and foundation for example. This is because the audience will trust them to only promote good products, so they are inclined to buying the product through the affiliate link they are provided with.
What is the key skill for affiliates?
The key to affiliate marketing is in the name, marketing. The better you market your links, the better your results will be. Most affiliates market their links organically to begin with and then as they grow, they start to use Facebook and google ads. Growing a presence on social media and promoting your products to your audience is a very good way to generate traffic to your links. Many bloggers use Pinterest to drive traffic to their blog in which they promote their affiliate links. Its also important to make sure that you use SEO (search engine optimization) to gain traffic from google and Bing organically.
Is there money in affiliate marketing?
The real answer to this question is definitely. But too many people give up too early before any of the ‘real’ money starts to flood in. The most successful affiliate marketers have made millions from their links and you can be one of them. The industry is now worth over 10 billion dollars and is set to increase. If you are persistent and capable of building a large audience you can be making thousands of dollars passively every month. The trick is choosing the right products to affiliate with so that you can get paid the highest commission possible. Lets say that you were promoting a product that pays you a $100 each sale you generate. To make $100,000 from just that product alone, you will have to sell 1000 of those products. Now that is a lot of money. However, to generate that number of sales will take time and a lot of effort. So the harder you work, the more money you are going to make.
How do you get started?
Many people think that you already need to be a big influencer or be big on YouTube in your chosen niche to make money from affiliate marketing. Anyone can make money from affiliate marketing. If you don’t have an audience, build one. There are millions of people around the world sharing similar interests with you, create a Facebook group and start posting content related to your niche and invite people. You will be surprised how quick you can grow a community. Most people give up on affiliate marketing after 6 months because they don’t see big sums of money coming in. If you are in it for the long run, affiliate marketing can make you a lot of money.
To get started write down 5 interests you have and research the top selling products and your competition in those niches. Pick a niche that has the most growth potential, create a social media accounts and then start posting content. Make sure you create a connection with your audience as well as engage with people to help yourself grow and build trust . Starting a blog website or a YouTube channel can be a very good way to drive larger traffic to your links and make more money.
Which affiliate programme should you choose?
There are many affiliate programmes online that will allow you to promote products that you probably already use and understand. Amazon have an affiliate programme which will allow you to advertise products they sell on their store and will give u a set commission depending what niche you product is in. Amazon is a great way to get started as it is a trusted company and people generally won’t think twice clicking on your link to buy an Amazon product. However, the commission with Amazon are low and unless you are selling hundreds of products a day, you won’t be able to build any serious income.
Affiliate programmes like CJ Affiliate, Rakuten LinkShare and ClickBank which offer much higher commissions as well as a wide range of physical and digital products. Many Affiliate links from these programmes also have 30-day cookies which means that people who click on your link have 30 days to buy something with you still being paid a commission on whatever product they buy. The commissions paid to the affiliate are also higher using these programmes and some companies will pay people as high as 70% for generating them a sale.