Getting Started With Affiliate Marketing
Affiliate Marketing is emotive. Some people hate it. Some people have tried it and say it doesn’t work. Others will tell you how much they love it.
In this blog, we will look at affiliate marketing, how it works and how it could provide an additional income stream.
What is Affiliate Marketing?
Think of affiliate marketing as a partnership with you being the “middle man” between the buyer and seller.
Your job is to find products or services for sale and then find the right customers to buy.
The product or service is promoted through your channels using blogs, social media, email or whatever is your preferred means of communication. In return, you get a commission for each sale that comes through your unique affiliate link.
As an affiliate marketer, you are part of a growth industry. Growing at an average of 10% per year. The Online Industry was worth $2 trillion in 2023. It has been estimated it will reach $5 trillion by 2025.
Does Affiliate Marketing Pay?
Affiliate Marketing is a very successful business model and can be a lucrative one.
But affiliate marketing isn’t about making money quickly. It is a long-term strategy.
The most successful affiliate marketers have built a customer base of people who want their particular product or service. They are also users of the products.
For example – I’m an affiliate marketer for Wealthy Affiliate, Jaaxy and Aweber. These a businesses whose products and services I use for my online businesses. Having tried many other companies and found these three the best for me. I’m happy to give recommendations and promote them so I became an affiliate for them.
My customer base (niche) is people who want to build online businesses. I make money as an affiliate marketer because I use the products and services. My clients see the results I get and are happy to use the products as well.
When they sign up with the service I recommend, I receive a commission.
Does Affiliate Marketing Pay? Yes, it does.
Understanding Affiliate Marketing Models
Affiliate Marketing isn’t just about promoting random products and hoping to earn commissions. Like any business, there are different models.
The most successful affiliate marketers find the business model that suits them best and build their business around that model.
The Payment Model
There are different payment models for affiliate marketers
Pay-per-click where you earn a commission each time someone clicks through on your advertising.
Pay-per-lead where the focus is on generating leads for the business and you earn per lead generated through your unique link
Pay-per-sale is perhaps the most common way of earning. You earn a commission on each sale made through your unique link.
Once you identify which model resonates with you the best you are then able to start finding products or services with that payment system.
Don’t try to use all three models as the strategies are different for each.
The Business Model
Affiliate Marketing is a business and should be treated as such.
The most successful marketers find the business model that suits them best and focus on the platform that works best for them.
One of the first steps is to find something you like, know something about and for which there is demand.
Affiliate Marketing is a long-term business, knowing your product or service will make it more enjoyable and sustainable as you build your business.
As the name suggests, marketing is an important part of the business model so finding a way to market is always key to the business model being set up.
For example – if you don’t like being in front of a camera then marketing through YouTube or TikTok will not be the best business model for you.
We’ll also look into the success stories of accomplished affiliate marketers to provide insights and inspiration. It’s fascinating to see the diverse approaches and strategies that lead to their success, which can be incredibly instructive for those just starting.
I promote Wealthy Affiliate as my platform. I tend to follow online the people I connect with through Wealthy Affiliate. They are active in the support community so I know how good they are at making money. The also resonate with my business model.
Social Media Affiliate Marketing Platform
Choose something that resonates with you when selecting a platform for your affiliate marketing. Whether blogging, producing YouTube videos, starting a podcast, or utilizing social media, the key is to pick a medium where you’re comfortable and can consistently produce engaging content. Remember, your platform is your stage – make sure it’s one where you can shine.
Each Social Media Platform has a specific purpose. Understand the purpose of the platform and the type of content that works best on the site.
For example, I have a Facebook Page that has a few thousand followers. The FB page is like my shop window and has to attract customers to want to join an FB group (the inside of the shop). So content on my FB Page is designed to show results and lifestyle to entice people to join the group.
I also have an X account with 11K in followers. This platform is more based around breaking news. The posts that do the best are headline news about the product or service.
Start with one platform and grow your following before moving to a second platform. The skills for each platform are different and require time to learn.
Creating Quality Content
Creating quality content is non-negotiable. The better the content, the better the engagement, the better the ranking and the more likely you are to make sales.
The type of content created is aimed at your niche, target demographic, and interests. The more you know about your customer the more you can tailor content to them and to solve the problem they have.
I teach people how to become wealthy. The formula is to build and online business and invest the profits.
This website, The Online Entrepreneur, was started to help clients who didn’t know how to build an online business. The training course Online Business Mastery takes it a step further with more detailed instructions to help them get a successful online business up and running.
I know my customers, I know which social media platforms they visit most. I know the problems they have, and I know how to create the type of content they require to solve their problems.
Creating content, such as this, with links to other articles or videos with more detailed information ensures I am helping customers not just trying to sell, sell, sell.
Quality content not only attracts but also retains an audience, converting them into loyal followers and customers.
What is EEAT and How it Helps to Sell Products and Services
Building trust with your audience is crucial.
Trust is the core foundation of E-E-A-T, and within affiliate marketing, this means being transparent about your affiliate relationships and always being honest in your reviews and recommendations.
Your credibility is your currency in the online world.
EEAT stands for:
- E – Expertise.
- E – Experience
- A – Authority
- T – Trustworthy
When you know your product or service and can demonstrate you know it well. Create good content about your topic and show you are there to help the viewer not just make a sale to them then you are using EEAT as the format and it will show to your followers.
EEAT is about ensuring the visitor experience to your site. It will bring back more customers and help to generate more sales.
The Legals for Affiliate Marketers
As an affiliate marketer there are certain legal requirements to ensure the customers to your website are aware that you are selling on your website and generating the type of information the client wants and not misleading them.
You need to be upfront with your audience that you are an affiliate marketer. That some of your links are to sales pages and that your recommendations if they result in a sale will earn you money.
There are certain policies the website will need such as the FTC (Federal Trade Commission) disclosure. Privacy Policy and GDPR policies.
Most countries have their own rules so if you website is marketed in those countries and you expect sales from around the globe make sure you have policies connected to your website that cover the global marketplace.
The Technicalities of Affiliate Marketing
Some technicalities will enhance your ability to succeed as an affiliate marketer. These include
- The ratio of information and sales content on your site
- Creating Topical Clusters to help build EEAT
- Understanding SEO keywords and links to drive traffic
- Link building and tracking
- Meta Titles and Meta Frameworks
- Website analytics
- How to monetize the website
and more.
This comes through the practice of building relationships with prospective customers and being able to deliver a product or service that meets their needs.
It is continually evolving and like any business, there will always be more to learn. The more willing you are to learn the better your business will grow and become successful.
Strategizing for Success: Affiliate Marketing Best Practices
Strategy is the first step to building a successful affiliate marketing business because how you approach affiliate marketing can make a big difference.
Some steps to include in your strategy include
- A solid content strategy. That’s going to include knowing who you’re talking to, understanding what they need, and delivering it consistently. It’s not just about pushing products; it’s also about creating value.
- A good SEO strategy. You’ve got to make sure your content is seen, and optimizing for search engines is key. This involves using the right keywords, creating valuable backlinks, and crafting informative meta descriptions that are going to help your affiliate content climb the rankings.
- Know Your Product strategy. Be experienced with your topic and product. This makes it easier to find plenty of content to create and know how your product works.
Before I became an affiliate marketer for Wealthy Affiliates, Jaaxy and Aweber, I already used their products. I knew how their systems worked. I understood the products and services from a customer perspective and could provide authoritative information from experience.
Connecting with Like-Minded People
Connecting with other affiliate marketers and brands expands your knowledge and opportunities. Sharing experiences can lead to learning about the industry’s best-kept secrets or upcoming trends that you can leverage.
Often people see others in their industry as competitors but most successful people are happy to share their experiences with others.
Networking is an important part of being part of an industry.
Just this week, I had an issue with rankings on a website. The website had consistently been at #8 and suddenly dropped down to #63. There were no issues detected and no reason for the drop in ranking. However, the drop of ranking had impacted the number of people visiting the site and the sales.
My network of like-minded affiliate marketers was able to guide me through some steps to recover the ranking. They understand how big the industry is and are willing to share their knowledge to help guide me to achieve the best I can. It’s very much give and take as I have some knowledge they want and I’m happy to share.
Your network can make help you build a successful business.
Know The Numbers and Track Performance
It’s vital to keep an eye on the performance of your affiliate business from marketing campaigns to site visitors and sales. Tracking the performance is imperative.
Use analytics tools to understand what’s working and what’s not. That way, you can always adjust your approach down the road. This includes which products to promote, which content generates more revenue, and where your traffic is coming from.
I mentioned above the drop in ranking on a website. I knew there was a drop because I was tracking performance. This meant I could check if there were issues that we affecting the website. The issue was a change in a Google Algorithm so I reworked some content to address that and the website is recovering.
When marketing, it’s important to know which marketing campaigns are working and why especially if you use paid advertising. There is no point wasting money on advertising when the campaign doesn’t work. Often it is adjusting a campaign to attract the right type of customer eager to buy.
Know the numbers, track performance and take the necessary action to ensure traffic to the site grows and sales keep coming in.
Continuous Learning
The affiliate marketing landscape is ever-changing and being able to adapt to it is essential.
Don’t get too comfortable. Stay adaptable, learn from your successes and failures, and be ready to scale your business when the opportunity arises.
Keep learning.
I have a fantastic network through Wealthy Affiliate who are so supportive. They provide new training every week to help their customers stay ahead of what is happening in the market place.
Their are industry leaders whose training I willing pay for to help me grow and scale my business.
This isn’t just about making a quick buck; it’s about building a sustainable source of income that will keep coming in year after year.
Affiliate Marketing is a Successful Business Model
Starting an online business and using affiliate marketing products either as the core of your business model or alongside your own products can help you achieve everything you want from and online business.
It isn’t a get-rich-quick business it is about learning the skills of the industry and being ready to apply them. It takes time, patience and a willingness to continually learn. Implement, test and track performance and correct as necessary.
Affiliate Marketing is a lifestyle business that can be run from anywhere there is an internet connection.
Affiliate Marketing is a successful business model that anyone can learn.
