In affiliate marketing, you earn a commission by promoting the products and services of another company. Affiliate marketing is one of the most popular work at home jobs at present as it generates a very reasonable passive income without requiring any great investment from your end.
How much money can you make from affiliate marketing? Well, quite a lot, if you’re reasonably successful at it. Many successful affiliates make six figure incomes. According to the 2013 AffStat report, an incredible 10% of all affiliates make $100,000 a year, with 60% making less than $10000 a year and 39% making zero to $5000 per year.
The great thing about making money online using affiliate marketing is that it’s not like any of those pyramid schemes where you’re required to recruit a certain number of people and get them to sell random products. You make money in affiliate marketing by creating great websites that provide excellent information about a product that captivates the public. But, like any other business, it’s not easy and it’s important that you invest the right amount of time and effort in it to succeed. Also, it’s important that you have a right plan or strategy in place.
Most people fail at affiliate marketing because they plunge headlong into it without a plan or a strategy. They make many basic mistakes while choosing the products to sell, and base their entire marketing strategy on intuition rather than on hard data. This often leads to a great waste of both time and money. So, it is so important to strategize well if one is to achieve success in affiliate marketing, and avoid the common errors that hold you back from achieving your full potential as an affiliate marketer. Read on for our strategies for affiliate success.
Identify the Market Demand.
First, you should ideally sell products that you have an interest in and are knowledgeable about. Don’t pick products just because they are the latest fads. Do your research on Google; look for the most popular keyword phrases, products that a lot of people are currently searching for. There is no point in trying to sell products that are already not popular. Sell in-demand products in a popular niche.
Focus on User Experience for generating targeted traffic
You should aim at a minimum internet traffic of 250 targeted visitors to your site per day – this way, you may earn at least $20 of passive income in a day. But the critical phrase here is “targeted visitors”. There is no point in buying cheap internet traffic, as that only means a low conversion rate and a high bounce, which means less money and a downgrade in Google’s SERPs.
Focus on improving the user experience by working on your web design, creating an attractive layout and de-cluttering the site. Work hard on making the navigation of your site a pleasure for your visitors. Remember, the first impression is often the last impression for your targeted customers.
Build your brand with an integrated internet marketing strategy.
Today, in order to succeed online, you need an integrated approach to internet marketing that is focused and tailored to your target audience. You need a comprehensive SEO strategy to make sure that your site is well optimized and well positioned in the search engines, a social media marketing strategy to build your brand and reach out to your prospects across social media platforms, a social engagement strategy that ensures your visitors are actively engaging with you and with the content on your site and a PPC advertising strategy to drive traffic to your site when it is new.
Selecting Your Niche
A “niche market” is a much smaller subset of a larger market. For example, “Weight Loss” is far too general a category with so much competition that if you are marketing info products on weight loss, you’ll go unnoticed. But if you market eBooks based on, say, South Beach Diet or the Paleo Diet, there is a far better chance that you will get noticed by highly interested potential customers. Such customers may be small in number compared to the general population, but they are more likely to buy your products, and so your conversion rates will be high.
Also, when you market niche products, there is less confusion in your marketing strategy as you’re fully aware of what sort of customers to target – which means a more specific and a more targeted marketing strategy. The trick is to sell a lot of products to a small number of targeted customers than to sell very few products to a large number of potential customers. This helps you create more effective content with a powerful message which resonates better with a specific audience.
Understanding your audience
Understanding the needs, interests, problems and challenges of your target audience is at the heart of developing a successful internet marketing (email, social media, SEO, PPC) strategy and campaigns. Knowing what’s important and what motivates them to buy will ensure that you are serving their needs from the time they see you through your ads, arrive on your site, and throughout their entire user experience.
It will save you money, time and other precious resources that you never have enough of. You need to think about the challenges, problems, interests and desires of the market you are focusing on, and produce content or sell products that alleviate those problems for a particular user.
Create a great looking website with excellent content
Design your website with maximum conversions in mind. Besides creating a website with an attractive design and easy navigation, you should work hard on having the best content. A blog is absolutely essential for this. You need to produce relevant content for your blog that engages your audience. Aim to produce content that inspires, educates, informs or entertains on a regular basis so that they keep coming back for more.
For instance, if you’re creating an affiliate store that will feature golfing accessories, all of the products you sell need to be related only to golf. Your blog should feature golf articles, and the videos you have, must all be about golf. Your content must be passionate and should resonate with your readers. More importantly, you shouldn’t come across as someone who is just trying to sell stuff.
You will find great success in affiliate marketing if you follow our strategies for affiliate success and stick to the plan. You should aim at having 5 successful affiliate marketing sites, with each site targeting a specific niche. But these sites should be built gradually, one at a time. Once the first site is successful and bringing in a certain amount of revenue, you may create your next site and replicate everything you did on the first site.