Affiliate marketing allows you to make money online without offering services or producing goods. You have the advantage of not hiring employers or setting up inventories.
According to statistics, affiliate marketing will reach 8.2 billion in the United States by 2022. However, you may be setting yourself up for a loss without proper knowledge of affiliate marketing. There might be a loss if one does not have a solid idea of affiliate marketing. In this article, you’ll learn what affiliate marketing is and how you can become a top-rated affiliate marketer.
Affiliate Marketing: What & Why
Affiliate marketing is another form of online business in which you receive money for marketing another company’s products. You generate traffic to a company’s products, websites, or services. In affiliate marketing, the third party is the affiliate (the one that receives a commission for driving traffic).
Cookies, analytics, and digital marketing are responsible for making the affiliate marketing industry a multi-billion dollar industry. The companies involved pay per impression, click, and per sale.
As mentioned earlier, affiliate marketing is a fast-growing market becoming mainstream worldwide. It is because there are several benefits attached to this online business. The following are some reasons why you should do affiliate marketing:
- It requires little capital to get started;
- It is adaptable;
- The risks involved are minimal;
- There is a high return on investment, a high conversion rate;
- It requires a low cost to run.
How to Become an Affiliate Marketer
1. Pick a Niche
Selecting the right niche is the first step to becoming a well-grounded affiliate marketer. However, this doesn’t change the fact that it is not easy. Every affiliate marketer should have a niche that they’ll influence their audience. Greed would drive some would-be marketers to choose more than one niche, causing them to fail on all fronts.
It will be easier to make sales with the right niche and more difficult to profit with the wrong choice. So, how do you find the right niche? You can start by conducting a self-assessment test. Ask yourself questions like:
- What topics do I have a passion for?
- Do people search for my niche?
- Will the demand for my niche be consistent?
- Is there a lot of competition for my niche?
- Are there affiliate companies for my niche?
Answers to these questions will help you know if your niche is the right one for you. Passion should also drive you to pick a niche, but it shouldn’t be the only consideration.
2. Evaluate the Market Demand
After selecting a niche, the next thing is to find out if it is popular in the market. Market demand will let you know if consumers will pay for products and services in that market. The knowledge will help you sell valuable products and earn a nice commission.
Tools like Google Trends would help you ascertain the demand for products. It tells you how much the demand for a product is on a scale of 0-100. Google Trends also gives suggested topics and regional breakdowns.
3. Analyze the Competition
The next thing is to find out if there is plenty of competition in your desired niche. There are a few ways you can go about it. First, you can employ the services of Clickbank. Log in to their website, then click on the affiliate marketing icon on the home screen. The second way is by using Ubersuggest, which will show you how competitive a search is.
4. Look for Affiliate Programs
You need to look for the best affiliate programs to support your niche. It is important to be very careful during this stage because a wrong choice can render the effort fruitless. It is difficult for merchants and affiliates to connect, so affiliate marketing programs bring them together through a website.
Before selecting an affiliate program, you need to answer some questions, which are:
- What merchants use the program?
- How much will they pay per click or per sale?
- Do you see yourself associating with the program?
- What support will the program give?
5. Pick the Best Affiliate Marketing Method
There are two popular methods that affiliate marketers adopt:
- Creating a website
A website is essential in affiliate marketing, whether working with a high or low marketing program. So you need website builders to develop your website. You can use Shopify, Shoplazza, Wix, or other hosting services.
Hosting companies provide domain names, professional email addresses, and reliable hosting. Ensure the website is well designed, containing the appropriate theme, pictures, and content it needs to convert customers.
- Running Paid Ads
You can also run advertisements to draw traffic to the company’s product or services.
6. Create & Publish Quality Content
Content is more or less like a blog post where you determine what you post. If your website is well designed and in the right niche, you need quality content to build your audience. Three types of content can convert customers, including:
- Blog Post: Here, you answer different possible questions and provide solutions to various problems.
- Product Review: Create a variety of reviews for products in your niche. It would go a long way toward winning the customer’s heart.
- Guide: It can be an ebook, a webinar, or an email to get customers to read more about what you have to say.
Suppose you desire to be an affiliate marketer but do not have enough knowledge of what to do first. In that case, follow these step-by-step guides to begin your affiliate marketing journey today.
(Contributed by Ayotomiwa Omotosho & Hermes Fang)