Curious as to how some people earn money promoting products?
Would you like to be compensated for recommending products and services you use and love? Affiliate marketing may be just the ticket.
In this comprehensive guide, I’ll walk you step-by-step through everything you need to know to get started (and make it big) with affiliate marketing.
What is Affiliate Marketing?
In affiliate marketing, you make money by promoting other people's companies' products; it's painfully simple.
You become an affiliate marketer, joining affiliate programs where you make money with commissions for sales driven through your unique links.
It's a win-win:
- Companies only pay affiliates after a sale is made. So there's little risk in partnering with affiliates.
- You can create passive income by promoting products you use and love. You don’t have to make your own products.
Based on these reasons, affiliate marketing is perfect for:
- Bloggers seeking to profit from their content
- Brands wanting to partner with influencers
- Anyone with an audience to pitch offers to
The best part? You can do it on the side. Some affiliate marketers make thousands per month working only a few hours a week.
Now, let’s get in the details…
How Affiliate Marketing Works
Here are the basic steps:
1. You sign up for a company’s affiliate program.
2. This gives you a special tracking link to promote that product.
3. You share the product on your site, socials, YouTube, email list, etc.
4. People click the link and are tracked as being your referrals and they purchase the product.
5. In turn, you earn an affiliate commission from the company for every sale you referred.
It's that simple! You introduce potential customers, and companies reward you with a cut of their revenue.
Many of the best affiliate programs pay at least 30-90% on each sale. And the cream of the crop of affiliates pull in 5-6 figures monthly with ease.
So let’s break down the elements of affiliate marketing one-by-one...
1. Selecting a Niche and Products for Promotion
Finding a niche and affiliate programs that relate to your audience and your interests is the key to step number-one.
You’re going to want to be promoting products:
- In an area you enjoy doing
- Content that actually make sense to your audience
- That pay high commissions
Examples of Niche Markets with Affiliates Potential
- Health/fitness
- Personal finance
- Dating and relationships
- Software and apps
- Online courses and education
- Tools for Blog and Marketing
- Beauty and skin care
When choosing a niche, focus on your own interests and expertise. You will produce far superior content when you really like the subject.
2. Signing Up for Affiliate Programs
Some places you should check out programs:
- Clickbank - Digital info products
- Amazon Associates - Physical and digital goods
- Shareasale - All kinds of affiliate programs
Your affiliates and their users need great commissions, reputable brands, and products you’d be comfortable promoting in the first place.
3. Signup for Affiliate Programs
If you have identified a few programs to join, signing up is usually easy. If you just want a quick 4 step process, here you go:
1. Check out the merchant’s website for their products and affiliate program information.
2. Click the link or button to go to the affiliate program sign up page.
3. Input your website and payment details to set up your account.
4. Based on the details you provide in your application and agreeing to the terms, you’re approved.
That's it! These are often approved within a matter of hours.
Once approved, you will be able to access:
- A unique affiliate link for you to promote products
- Contents such as banners + emails for marketing
- Track your stats with your program dashboard
- Information on payout timing and minimums
Now it's time to...
4. Promoting Products and Driving Sales
This is the fun part! The ways to promote the affiliate product and make sales are limitless.
Content Marketing
Blog and make videos that talk about the products you're promoting. Just be sure to provide your affiliate links so that reader can easily click through to buy.
For example:
- Review posts comparing multiple products in your space
- “Best of” lists featuring your favorite products
- How to use the product - tutorials and demonstrations
Email Marketing
Send promotional emails, either campaigns will be all about one product or just include affiliate links in newsletters.
Social Media Marketing
Post affiliate links, deals and content on your social media. Stand out with engaging posts and videos that will attract your audience.
Paid Advertising
Use paid advertisements on networks such as Facebook or Google to increase traffic to your affiliate products. Make conversions for sale by retargeting those who already visited your site.
Content Partnerships
Partner with other content creators to share affiliate promotions with each other’s audiences. However cross-promotions widen your audience.
Affiliate sales can be driven in so many creative ways! You just need to match your offers to your audience and make the offers flow naturally.
Now let's get into...
5. Tracking Sales and Earnings
The great advantage of affiliate marketing is that networks give real-time tracking and reporting. You can log in to your dashboard and see:
- Link clicks and impressions
- Conversions and sales
- Earnings per campaign
- Aggregate monthly income
The best programs give you raw data on a product and traffic source level so that you can assess what’s working.
Many programs have monthly payment minimums you have to reach before receiving your payment. This threshold is typically between $25 and $100.
Payment are usually sent between 30-60 days post-month end. For instance, if you make a sale in January you’ll get paid for it by March 1st.
Many affiliate networks offer coupons, contests, and incentives that increase your commission.
So now you know the basics of how affiliate marketing works and how to start your own affiliate business…
But I’ve only skimmed the surface here. Let's dig into the details...
6. Advanced Affiliate Marketing Strategies
Here are some more advanced strategies and tactics that the most successful affiliate marketers use:
Build a Targeted Email List
Email marketing is one of the best converting channels. Why not trade some emails for a free offer - would it be a course or an ebook? Create that list and share promotional messages.
Write In-Depth Reviews
This is not just a basic mention of the product. In-depth long reviews displaying all features. Add some text, images, videos, etc. andDemo the product. Audiences love that.
Create Comparison Posts
Conduct head-to-head comparisons of your top 2-3 choices. They include the pros and cons, pricing and who each one is best for. Very helpful content!
Interview Product Creators
An outreach for an expert interview makes for informative content. Creators also frequently share your posts, giving you built-in promotion.
Active on Social Media
Expand your audience on social channels like Facebook, Instagram and YouTube. Regularly post affiliate links over there.
Master SEO
Rank your content high in search engines, to be discovered by buyers doing purchase research. Study SEO principles.
Use Affiliate Coupons
Provide exclusive promo codes and offers only for your audience. Sweetens the offer.
These sophisticated practices are what differentiate great affiliate marketers.
But they take time to learn. The highest earning comes about from consistency and hard work over months and years.
Let's wrap this up...
Final Thoughts
I know this complete guide has got you pumped up about affiliate marketing!
To recap:
- It is a popular business model in which you are paid a commission for promoting other companies’ products.
- Pick something you love and select the best affiliate programs in that niche.
- Help up-sell the products - blogging / social networking / paid advertisements / etc.
- Make use of affiliate links so you can be rewarded for your referrals.
- All sales and payments are tracked in affiliate dashboards.
- The main keys to success are finding a niche you love and creating value for your audience.
Affiliate marketing requires consistency and patience, but with time, it can become an excellent income stream.