Affiliate marketing is without doubt one of the quickest ways to get started in online marketing.
It’s easy to see why affiliate marketing has grown at the exponential rate that is has and why so many people now want to get started in affiliate marketing.
The affiliate marketer doesn’t have to come up with their own product idea, or worry about procurement and logistics.
And the producer of the product or service also gets a great deal because it’s a “pay per performance” arrangement. As the product owner, you only pay when the affiliate marketer brings you a lead, or a sale. You determine what triggers a pay-out and how much that pay-out is.
My favourite definition of affiliate marketing is this:
Affiliate marketing is the process of earning a commission by promoting other people’s (or company’s) products. You find a product you like, promote it to others and earn a piece of the profit for each sale that you make. Pat Flynn
Sometimes there are 3 parties involved:
Product Owner/Seller ⇒ Affiliate Marketer ⇒ Customer
And sometimes there are 4:
Product Owner/Seller ⇒ Affiliate Network ⇒ Affiliate Marketer ⇒ Customer
In the first option noted above, the product owner hosts and manages their own affiliate program. The affiliate marketer then applies to sign up to the program directly with the product owner.
In the second, the product owner distributes through an affiliate network and the affiliate marketer applies to market their products through the affiliate network.
How Affiliate Marketing Works
Affiliate networks take a commission as they are not only bringing the parties to the arrangement together but will also be managing the payment of future commissions etc.
Some of the better known affiliate networks include the following 5:
What Does An Affiliate Marketer Actually Do?
An affiliate marketer promotes one or multiple products and/or services, and works to attract potential customers who will hopefully go on to make purchases.
Is Affiliate Marketing A Passive Business Model?
It is possible for affiliate marketing to eventually generate passive income for you, once the hard work has been put in at the start. But, it’s like everything else in this life…the more effort you put in, the more success you will enjoy, and complete neglect will undoubtedly show up in your results before too long.
In broad outline, there are 7 Affiliate Marketing steps to follow:
- Choose a potential niche
- Check there are good products/services in that niche that you can genuinely recommend (and that will be profitable)
- Research your niche for indications of it being a good buyer’s market without excessive competition
- Build a website around your niche
- Attract targeted visitors to your website (organically and/or through PPC ads)
- Build an email list from the visitors to your website
- Make affiliate sales either directly off your website or with follow-ups to your email list (earning an income)
If you are truly serious about making an ongoing income from affiliate marketing, I would strongly suggest that you follow the guidelines below from day one:
- Only recommend products/services that you know and understand well — do not promote stuff that you cannot genuinely recommend.
- Simply recommend products/services based on your experience – try to avoid telling people to make a purchase.
Try and keep this in mind when you are affiliate marketing: Are your recommendations likely to help people? If the answer is yes, then it’s all good. If not, find another niche where what you can offer to potential product buyers will be helpful.
Let’s take a closer look at the critical first step…
Choosing A Niche
Undoubtedly one of the most important steps when starting out as an affiliate marketer.
What will your site be about?
The first three steps noted further above are all about selecting and qualifying a niche that is right for you. Get this part wrong and you will have nothing to sell and no market to sell to.
Start by thinking about what interests you. What do you like doing? What excites you?
This could be absolutely anything…and I really do mean anything, try this lot on for size:
how to become an actor, how to be a better DJ, muscle building, great fitness in middle-age, best vacuum cleaners, cake decorating, home schooling, virtual worker advice, career change, being a better public speaker, best home robots, home fitness equipment, alternative energy advice, learn to play the guitar, self-sufficiency, wilderness survival, best home coffee machines etc.
You get the picture.
Let your mind wonder, and when you think you’ve got an idea for your first niche, start your research.
Don’t rush this part, but equally don’t make the mistake of looking for the “perfect niche” and end up spending all of your time on this part, without ever getting your site up and running.
Ideally, you’d want to promote products that you’ve used and benefited from yourself, and as long as there is an affiliate program available for them, you can do exactly that.
If choosing the right niche is like building the engine of your car, the next phase is all about the putting in the chassis and frame.
Build A Website
Your website is going to be the gateway to your business and will be your chance to make a great first impression.
My preferred route is to use Digital Business Lounge as its easy-to-use, it enables website building in just a few clicks and no additional hosting is necessary.
Attracting Targeted Traffic
Do not focus on volume, focus on targeting.
If you can repeatedly attract well targeted people to your website and have them sign-up to offers then you are well on target to becoming a successful affiliate marketer.
In fact, many people would say that if you can do this part, you are an affiliate marketer.
Finding targeted visitors is crucial. People search for things on Google, YouTube and on all of the social media platforms. You need to get in front of them when they are searching, with an offer that is of interest.
Make Sales and Earn an Income
The global affiliate marketing industry is now a multi-billion dollar industry and is getting ever stronger.
Spending online continues to rise as each year and affiliate marketers are continuing to see explosive growth in their businesses.
You can claim your share of this amazing industry.
Learn the skills. Find your niche. Provide value.
And never forget that people can tell when you’re sincere about wanting to help them, just as easily as they can tell when someone’s just trying to profit from them.
If you want longevity in your affiliate marketing business…help solve people problems.