Affiliate marketing has become one of the most profitable online businesses to develop for the average person. An estimated 35% of affiliate marketers are able to generate more than $20,000 on a month-to-month basis. Jason Stone, a recognized figure in the affiliate marketing industry, generate over $7 million in profit through affiliate marketing in just one single year.
For those who are only starting out as affiliate marketers, however, generating their first profit can seem challenging. With the right affiliate marketing for beginners' tips in mind, however, the entire process becomes easier. We share a few tips to help you get started as an affiliate marketer and ensure you choose the right network and offer to promote.
1. Start With A Profitable Niche That Works For You
The first step to successful affiliate marketing is to ensure that you choose a niche that is not only profitable but one that will work for you. This means choosing a niche that you feel passionate about. Consider things that you frequently use in your own life.
The possibilities in terms of choosing a niche for affiliate marketing are truly endless. You can choose something as simple as embroidery or cooking if these are things that you feel passionate about. Having knowledge on the topic will help you set up posts that can establish authority for your brand, while also showing customers you are an expert and that they can trust you.
In addition to considering something you are passionate about, the niche you choose should also be profitable. There is no use in choosing a niche with products that cost just a few dollars, as this would yield almost no profit per sale that you refer to. Try to opt for a niche that has higher value items, which would lead to larger commissions on every sale you refer to.
2. Research And Choose The Right Affiliate Network
When you know what niche you wish to target with your affiliate marketing business, you need to do proper research. There are quite a large number of affiliate networks that you can choose from. Some of these will provide you with much better rates per referral.
You may also choose to go through private affiliate programs offered by brands that sell products that are related to your niche. In many cases, these types of affiliate programs would offer higher commission rates. Just be sure to do thorough research and only join up with a network if they seem to be trustworthy.
3. Know What Offer Is The Best To Start With
When you find a good affiliate network, this is only the start of the process. You also need to find the right programs to promote.
Here are five things to know before choosing an opportunity to help you identify the affiliate offers that will bring you better results:
- Start by considering the value of the product – not only in terms of money but also in terms of what it can offer the customer.
- Consider the profit margins – look at the current rate of sales that existing affiliates are gaining and how much it costs them on average to refer a sale.
- Understand whether accurate tracking of clicks and sales can be provided by the system that will be monitoring the affiliate links you use.
- Take a look at any marketing material that is provided by the advertiser. These may include sales videos, banners, and creative to be used in your own email marketing campaigns.
- Note the integrity of the brand or product that you will be promoting.
4. Use The Right Marketing Channels
You need to determine what the best channels would be to promote your affiliate links. While a blog or website is one of the most obvious channels, do some research to determine what third-party platforms would be of use to you. This may include social media websites, as well as guest posting sites, forums, and more.
5. Understand How Tracking And Analytics Can Help You Boost Sales
Finally, make sure you understand how tracking works for the marketing campaigns that will be used to promote affiliate links. There are different ways of tracking your progress. You should be able to implement analytic services on your blog, as well as gain access to tracking reports from vendors that will handle affiliate sales and commissions paid out to you.
Affiliate marketing for beginners can be a challenge. Setting up a strategy, and the fact that it takes time to build a business from affiliate marketing becomes frustrating. With the right approach and knowing what to look for when choosing an opportunity, however, you can establish your affiliate marketing business faster and get to that first sale in less time.
James started The Online Student as a typical blog telling people about his struggles and woes with DropShipping, Amazon FBA and even Affiliate marketing. He then decided that blogging about it all would give people the skills, knowledge and apps to get up and running (while making a little extra on the side). After a few months he realised it was quite lucrative and decided to work his ass off making it a bit more than just a hobby!