Wikipedia Says, “Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts”.
How Affiliate Marketing works?
- Consumer clicks on brand’s promotion on the affiliate’s site and a cookie is then stored on the consumer’s browser; this is what makes it possible for the affiliate network to track the consumer’s progress from the affiliate’s website through to the brand’s shopping cart.
- Consumer is redirected to brand/advertiser’s website.
- Consumer purchases a product/service from the brand.
- Then Advertiser/Brand pays out a commission to the affiliate (based on the rules set) for driving that sale.
Tips to become a successful Affiliate Marketer
1. Develop a rapport.
When beginning your affiliate marketing career, you’ll want to cultivate an audience that has very specific interests. This allows you to tailor your affiliate campaigns to that niche, increasing the likelihood that you’ll convert. By establishing yourself as an expert in one area instead of promoting a large array of products, you’ll be able to market to the people most likely to buy the product.
2. Make it personal.
There is no shortage of products you’ll be able to promote. You’ll have the ability to pick and choose products that you personally believe in, so make sure that your campaigns center around truly valuable products that consumers will enjoy. You’ll achieve an impressive conversion rate while simultaneously establishing the reliability of your personal brand.
3. Start reviewing products and services.
Focus on reviewing products and services that fall within your niche. Then, leveraging the rapport you have created with your audience and your stance as an expert, tell your readers why they would benefit from purchasing the product or service you are promoting. It is especially effective to compare this product to others in the same category. Most importantly, make sure you are generating detailed, articulate content to improve conversions.
4. Use different sources to reach people.
Instead of focusing on just an email campaign, also spend time making money with a blog, reaching out to your audience on social media, and even looking into cross-channel promotions.
5. Choose Brand/Product with care.
No matter how good your marketing skills are, you’ll make less money on a bad product than you will on a valuable one. Take the time to study the demand for a product before promoting it. Your time is worth a lot, and you want to be sure you’re spending it on a product that is profitable and a seller you can believe in.
6. Stay updated with trends.
There is serious competition in the affiliate marketing sphere. You’ll want to make sure you stay on top of any new trends to ensure you remain competitive. Additionally, you’ll likely be able to benefit from at least a few of the new marketing techniques that are constantly being created.
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Some Strategies to be followed-up
1. Only recommend products you are familiar with.
Building trust with your audience is paramount in affiliate marketing, and the quickest way to lose trust is to recommend products either you haven’t used before or that aren’t a good fit for your audience. Also make sure you never tell anyone to directly buy a product, you are simply recommending the product. The more helpful you are and the more you make quality recommendations, the more likely your web visitors will come back for your expertise.
2. Promote products from many different merchants.
Don’t put all your eggs in one basket. If you only promote one merchant’s products, you are stuck with their commissions, their landing pages, and ultimately, their conversion rates. It is important to work with many different merchants in your niche and promote a wide range of products.
Some good affiliate platforms- at a glance
- CJ Affiliate
- Amazon Associate
This affiliate marketing strategy will diversify the number of commissions you make and create a steady stream of revenue when building an affiliate website.
3. Constantly test and optimize your conversion rates.
Let’s say you have a promotions page where you’re promoting a product via affiliate links. If you currently get 5,000 visits/month at a 2% conversion rate, you have 100 referrals. To get to 200 referrals, you can either focus on getting 5,000 more visitors or simply increasing the conversion rate to 4%.
Which sounds easier? Instead of spending months building Domain Authority with blogging and guest posts to get more organic traffic, you just have to increase the conversion rate by 2%. This can include landing page optimization, testing your calls-to-action, and having a conversion rate optimization strategy in place. By testing and optimizing your site, you’ll get far better results with much less effort.
4. Focus on your affiliate traffic sources.
It’s important to know where your traffic is coming from and the demographics of your audience. This will allow you to customize your messaging so that you can provide the best affiliate product recommendations. You shouldn’t just focus on the vertical you’re in, but on the traffic sources and audience that’s visiting your site. Traffic sources may include organic, paid, social media, referral, display, email, or direct traffic.
You can view traffic source data in Google Analytics to view things such as time on page, bounce rate, geo location, age, gender, time of day, devices (mobile vs. desktop), and more so that you can focus your effort on the highest converting traffic. This analytics data is crucial to making informed decisions, increasing your conversion rates, and making more affiliate sales.
5. Pursue quality over quantity
Having several affiliates is not a guarantee of making money online. Studies show that a successful affiliate marketing campaign requires you to get the right collaborations that would drive traffic to your site. Whether these associates are big or small sites or even a combination of both, you must create and maintain strong relationships with the affiliates.
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