As global trade shifts to online markets, anyone could test their mettle and become a web entrepreneur. You’re no exception. If you strive to establish a passive income online, launching an affiliate marketing business would probably be the best idea. Why is it so? First of all, it doesn’t require a master’s degree to get started. Anyone willing to generate a steady flow of income on the Internet cantry their hand at this field. Also, it gives the freedom to manage your time however you like it. It can be a full-time job or a side hustle – depending on which option works better for you. Either way, it’s a lucrative opportunity to earn some extra money while staying at home.
It’s nothing but normal if you feel overwhelmed by a swarm of questions at this point. Where do I start? How do affiliate programs work? Can you make money with affiliate marketing if you’re new to this field? No worries.This blog post will point you in the right direction.
WHAT IS AFFILIATE MARKETING?
By definition, it is an advertising model where a company pays a commission to third-party publishers who generate traffic to the company’s products and services. In this model, there are three parties involved: a merchant (advertiser), an affiliate marketer (publisher) and a customer. The more traffic an affiliate marketer drives to the merchant’s website via their unique affiliate link – the better. As an affiliate marketer, you don’t need to sell your own products/services or provide customer support. What you actually need to do is promote other people’s products/services and get a payout in return.
What kind of budget do you need to get started in affiliate marketing? Luckily, most of the programs’ requirements tend to be under $1000. To select the most profitable one, you need to carry out your own research. Further in the article we give some tips to help you make your choice.
HOW TO GET STARTED AS AN AFFILIATE MARKETER?
A good start is half the battle. Like in any other industry, it takes time and practice to master the art of affiliate marketing. To gain real knowledge in affiliate marketing, you should learn from the recognized top performers who share their hands-on experience. Below are the main steps you should take to get business up and running.
- Find a vertical
Choosing a vertical is the first thing you should start with. Overall, it could be any field: e-commerce, cryptocurrency, nutrition, sport, gambling, health, etc. Pick the area you have the most knowledge in. It will give you an idea about the audience and possible angles for your campaign. The next step is to find a few niches to focus on – like slots for gambling or dieting for nutrition – and start comparing offers in these areas. However, make sure to steer clear of obscure markets. If there is no competition – there are probably no customers, which results in earning no profit in the long run.
- Select an affiliate program wisely
The bigger the choice, the harder to choose. Deciding on the best affiliate program is an important step, and it needs serious consideration. In essence, take a hard look at the following criteria: available offers, commission rates, payment terms, public reviews, etc. Carefully read the rules of the program before making a final decision. Does it provide you with a dedicated manager or tutorials to get started? Once you have a clear understanding of the program’s terms and agreements, you can proceed to apply for it.
- Study products/services in detail
Knowing what to sell online is the key to success. Check out what competitors write about the products/services you’re going to promote. Get your hands on some customer testimonies. Do a preliminary research to find out which of them are currently trending. As an affiliate marketer, you need to define the needs of your target audience and provide them with solutions in form of products/services. It’s way easier when you have some intel on their preferences.
- Choose a traffic source
All affiliate marketers, both savvy and aspiring ones, are puzzled with the question of where to get high-quality traffic. Choosing the right traffic source is of paramount importance here, as it often dictates the fate of your campaign. To make a right choice, you need to research where the products you advertise are being promoted. Let’s take a closer look at free traffic. It’s quite a tricky thing. Though it costs you nothing, it requires a lot of your time and effort. Here, you can apply such tools as SEO, email marketing, social media marketing to increase your audience for monetization. Pay attention to blogging as it’s known to be the best way to make money with affiliate marketing with no investments except for time.
Otherwise, allocate some budget for testing different traffic sources to find out the ones working best for your campaign. Explore the potential of paid traffic:
- social media ads
- different forms of advertising on mobile (push notifications, pop-ups, interstitials, in-app)
- search traffic
- native ads (promoted stories and recommended content)
If you are just embarking on the affiliate marketing journey, it would be a good idea to get started with native and social traffic. Those are the most common types of sources available today.
- Leverage tracking tools
For years, transparency in tracking remains the top priority in affiliate marketing. You need to carefully track every step of your funnel to optimize it into maximum efficiency. Picking a tracker to your technical specifications and budget is vital to your success. Some of the popular options are Voluum, AdsBridge, and AffTrack.
START EARNING WITH AFFILIATE MARKETING!
Affiliate marketing has nothing to do with getting rich fast. It’s a strategic job that could bring you a tangible profit if done right. The tips laid out above should help you get a solid foundation to build your affiliate marketing business on. In case you need more assistance, sign up with Soft4Free and our account managers will be glad to help!