The idea of passive income, in some ways, feels more like a pipe dream. In reality, it has never been more attainable than today. All you need to ask is, what is affiliate marketing?
The concept was simple in theory. Drive traffic to your site and, in return, allow advertisers to use your site as an advertising venue without the high cost associated with advertising. In return, those advertisers payout in revenue shares if the leads sourced from your website could earn you revenue.
Define Affiliate Marketing
When we define affiliate marketing, it comes down to the one-simple idea, revenue sharing. Yes, it’s commission. The only difference is you have no pitch.
On the other hand, companies know affiliates are just one advertising medium on the internet that can drive leads and bring new customers to their website.
Affiliate programs will grow by 10% by the end of 2020. One reason for this growth spurt is between the United States and Canada, 16% of all e-commerce orders.
What is Affiliate Marketing
Like many other small business owners, you start with the concept or idea. Remain open to many possibilities as an affiliate, and above all else, do your research. The most challenging part of forming a great idea is getting married to just one image. If you’re able to separate your emotions from your goals, you are more likely to succeed.
As we drill down, step-by-step on how to become an affiliate marketing web-master, keep in mind each step may refer back to the previous step, designed to help you keep thinking of where your website goes or what direction you want your website to go.
How to Start Affiliate Marketing for Beginners
We’ll take you through the process step-by-step.
Step 1: The Idea and Creative Space
The idea is to empower yourself through knowledge and information. What that means is research and identify the companies that best align with your website.
If you don’t already have a website, you need to dig deep to figure out how your website will work for you. An excellent place to start is assessing your passions, whether you’re a winter sports enthusiast, a cultivator, or a writer.
You can also aim to identify a niche that needs updating. Perhaps you will discover it’s a service-related topic like cooking, or maybe even organizing. Both of these topics are great topics for YouTube channels.
Then your need to identify and contact the companies about their affiliate programs.
Some of the best affiliate companies (and the most well-known) are some of the smaller ones, even though programs like Amazon Associates are crazy popular. Choose a company that fits your branding goals and your business ideals for the best odds at success.
Step 2: Validate and Scale
The internet, in its infinite directions, can either sink you or make you a star. You will have to build-out your concept by identifying your platform. You could create a blog, start up a YouTube channel, go with Twitter, Pinterest, TikTok, or Instagram.
Now comes validation of your idea, this can be a scary step, but it’s critical to the success of your site, channel, or profile. To achieve this, select one blog post then plug it into the web crawler, Buzzsumo, for free information.
Step 3: Organize and Formulate
Next, begin thinking about how many posts you want to do a day. The goal, increase your web following, posting as frequently as possible to draw in some interested and devoted followers.
Post as frequently as possible. Different platforms require different frequency levels, but no matter which platform you’re on, aim to post at least 2x a week at the bare minimum. The below list expands on topics you can post.
- Post videos
- Share content whether it’s video, audio, or written
- Secure interviews with lead thinkers
- Curate content for others
Stay away from paid traffic for now; instead, try stretching your creative muscles to build your followers organically.
Step 4: Validate and Promote
Now that your platform is off and running smoothly, it’s time to monetize your site, social media profiles, and webcasts.
Be sure you thoroughly vet every advertiser you are considering. Make sure to get all your critical questions answered.
- How does the company scale the affiliate programs?
- Can the company provide steady revenue?
- Is the company reliable? This question you can research online
- Do I believe in this product?
Step 5: Promoting the Advertisers
After your first 30-days, you’ll need to begin assessing your traffic and payments earned as an affiliate marketer. Review your traffic, their behavior, and click-through rate. As you continue to evaluate month over month, you’ll have a better sense of how to scale your blog, website, social media, and other online profiles.
Here is where your content gets monetized, and you begin receiving commissions. An excellent rule to stick to in marketing is the 80/20. In short, 80% promotional work with 20% of all followers.
Step 6: Assess and Optimize
After a month of traffic to your affiliate platform, you should have enough data to make some improvements. Here are a few examples you may run into:
- One advertiser nets zero click-throughs.
- The second advertiser has provided you with consistently average revenues.
- Advertisers that brought their ‘A-game’ had strong click-throughs, with only 1% making a purchase.
Step 7: Annual Assessment and Optimization
Now you can begin scaling your affiliate marketing perhaps through guest speaker podcasts or product reviews to educate your followers on the advertisers you’ve seen dip a bit in revenues.
You may find some advertisers perform better than others. The vital data you get on advertisers will help identify gaps and provide new directions to head toward.
Write Guest Posts for Other Blogs
You can also use guest writers or speakers to help draw in new followers. Inviting others can give a fresh perspective. Do your best to reach out to internet influencers. Below are a few more ideas for improving the number of followers you have online.
- Optimize SEO
- Use keyword research
- Encourage your follower to share your content to go viral
The big take-away is developing a creative idea (step 1) that requires validation and scaling (step 2). Once those steps are complete, you can begin organizing and identifying companies (step 3) that focus on validating and promoting advertisers (step 4).
Then comes the most critical step, promoting the advertisers (step 5) to begin drawing in revenue. After your first month, start assessing your advertisers and optimize (step 6) your content by correcting search engine optimization and keyword identifiers. Finally, complete your 1st annual and ongoing assessment and optimization (step 7).
P.S, Thanks for coming to my website and reading this article. For more awesome articles make sure to check out my Trending Blog.
Also, one last piece of advice. Affiliate Marketing is one of many digital markeitng methods. In practice, to reach the most people you need to use all the marketing stratigies at once.