How To Engage In Affiliate Marketing To Boost Income
In recent years, affiliate marketing has become a massively successful third- party ecommerce business model. In fact, back in 2020, it achieved a whopping 4.2 trillion dollars in sales revenue worldwide, largely due to Covid. Better yet, anyone with a computer, internet and know how can do it.
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So, if you’re a newcomer to the affiliate marketing world, you may be wondering – what is affiliate marketing, how does it work, and how do you get started? In a nutshell, affiliate marketing is a fantastic way for a company or business to promote and increase sales for a product / service online via hiring a third party affiliate, which provides a great way for these individuals to earn an income at home or wherever they may be. The most successful affiliate marketers by far are the ones who create high quality videos that present their sales pitch of the product and exude confidence and knowledge in front of the camera.
Benefits And How Much You Can Expect To Earn
There are a few types of models that businesses incorporate to pay their affiliates via commission: Link clicks, link shares and product sales. The total amount you earn per month depends on four main factors: the commission method that the company uses, your sales skills, the time and dedication you put into it, and the product itself. For example, some companies / businesses will pay you anywhere between 10% – 30% commission cut for each click or sale, while others will pay you a flat rate no matter the cost of the product.
This ultimately means that, if you do it right, market interesting products and stick with it long enough, you can potentially earn several thousands of dollars per month, in which case you can finally ditch the side hustle and make it your primary income. Granted, it will require time and commitment to get to this happy place, but if you want a way out of stressful customer satisfaction, hate commuting to a typical 9 – 5 workplace, detest spending hours with annoying coworkers and bosses that steal your energy, freedom and creativity, then affiliate marketing could be just the thing for you.
Listed below is a step by step guide to help you become an affiliate marketer in no time.
Choose Your Niche
Your affiliate marketing niche becomes your specialty and the topic people best know you for. Some of the top niches that are more likely to gather in the big bucks are:
1. Lifestyle and wellness
2. Technology
3. Personal finance
4. Pet care
There are hundreds of other niches that you can choose from, but before you can get started, you’ll need to ask yourself three important questions:
● Are you genuinely interested in the niche? To build your audience and increase your earnings, you will need to be a fan of the brand or product, constantly learn and stay on top of booming trends.
● Are you good at solving problems? Affiliate marketers often have special training or experience in a specific niche. This gives them new ways to present information and help people solve problems.
● Is it likely to be profitable? Just take a few minutes and do a Google search to see how popular your niche is. Check how much competition you’ll have. Read market reports and customer reviews. The less competition you’ll have, the better.
Pick Your Platform And Relevant Affiliate Marketing Programs
Authenticity and audience engagement are two critical elements for affiliate marketing success. Start with a platform type that you’re most comfortable and familiar with, then expand when you’re ready. For instance, if you enjoy creating and uploading videos to social media, then opt for Instagram and tik tok. If you’re more of a writer, you can pursue blogging, website content writing, written product reviews and email lists.
Finding the right programs is critical to running a successful affiliate business. To find worthwhile affiliate opportunities, check out your favorite brands / businesses and inquire if they have any ambassador or affiliate programs. Some of the best affiliate marketplaces are as follows:
● Commission Junction (CJ) Affiliate
● ClickBank
● FlexOffers
● ShareASale
● Awin
● Amazon Associates affiliate program
Create High Quality Content And Build Your Audience
Whichever type of platform and content you choose to use, it’s extremely important to make valuable content that will capture people’s interest.
If you go with videos, make sure they have crisp clear visuals and sound, and be prepared beforehand with a script or a list of main points. Also, your voice should be upbeat, your outfit and overall appearance should be pleasing to the eye, and your words must flow out smoothly and convincingly. If you go with writing, make sure the spelling and grammar usage is correct, keep it succinct and throw in some cute or funny lines to express your personality and make people want to buy.
To increase your foot traffic and boost sales, there is another key factor: Post and share your videos and links as much as possible, wherever possible. Even just a few customers or friends who share the product with others can go a long way in affiliate marketing success.
Adhere To FTC Regulations
Last but certainly not least, you’ll need to follow FTC guidelines. THE FTC protects consumers from fraudulent and deceptive marketing practices. Unfortunately, there are affiliate marketers out there who often lie through their teeth, promote scams, misleading products and services to make a quick buck.
To help prevent this, the FTC requires that an affiliate marketer fully discloses their financial relationship with the brands, companies or products that they are promoting, and that you’re legally getting compensated for the products. This also benefits you as a marketer, as it will boost customers’ trust, further increasing sales and commission earnings as a result.
