Some experts estimate the affiliate marketing industry to be worth around $12 billion. Affiliate programs are used by more than 80% of companies and account for up to 30% of sales. These statistics prove why it’s a viable business model that’s attracting more and more young entrepreneurs. But what is it all about? Well, affiliate marketing is essentially promoting products, like camping gear, or services, such as online casinos, in exchange for a commission.
Companies know marketers can drive sales, and that’s why they offer high-rewarding affiliate programs, like Dunder casino or Amazon.
The goal of affiliate marketers is to get users to click and purchase through their links. Each link contains special cookies to track and attribute sales to the right marketer. This way, even if the user doesn’t buy the product immediately and takes a while, the marketer still gets a commission.
How is Affiliate Marketing Beneficial?
Operating an affiliate marketing business is very beneficial for a few reasons:
- Scalability – Unlike company salesmen, affiliate marketers can promote a wide variety of companies and niches.
- Low running costs – You won’t need to spend any money on products or other business expenses like employees and rent. Just create a website and you’re ready to start.
We gathered the six most important steps to get started in affiliate marketing. Take a look:
Choose a platform
The first step is to start a web page. Whether it’s a blog, an Instagram profile, or a Youtube account, any platform can be used.
Once you’re done, you should then focus on search engine optimization (SEO). This allows your website to rank higher, generating more sales.
Pick your niche
Next, it’s time to pick your niche. Be specific and opt for more in-depth keywords such as lipstick instead of makeup, for instance.
However, your niche should be something you’re interested in. If you’re passionate about something, it’ll show in the way you promote and talk about these products.
Get into affiliate programs
There are two main types of affiliate programs – high and low paying. The first are usually sold in lower volume but offer higher payouts. These often include expensive products or services, offering you a double-digit commission per sale.
There are, of course, also low-paying programs. These are sold in larger volumes but offer lower commissions. One example is Amazon’s affiliate program, which is usually capped at 10%.
Creating immersive and enjoyable content is the key to success. Tell stories, try out products, and show passion for what you’re doing.
Creativity is a powerful tool in content creation. Don’t be afraid to take risks, they’ll likely pay off.
Generate traffic and clicks
This is probably the hardest part of affiliate marketing. However, there are two ways to tackle this issue – paid traffic or SEO.
While paying for traffic can pay off, it generally results in bigger costs and requires running continuous ads. On the other hand, SEO can provide steady traffic but takes longer to achieve results.
But remember, offering great content won’t drive sales if you don’t know where to place links. Spread them across the page, use quirky jokes and you’ll be a step ahead.
Affiliate marketing isn’t rocket science. With our tips, you should be better off than 90% of marketers that get into the business.