Making Money with Affiliate Marketing: Tips and Strategies
Affiliate Marketing
PART 1:
In this blog post series (yes, this is the first one), I am going to dive deep and give you a solid understanding and a how-to guide that you can follow, the very same information that others will be charging thousands of dollars, Why am I giving away for free? The answer is simple, I want you to try every step, and provide your feedback, Tell me what you think, what I can change, and anything you see missing that I can add. This way, I will have a comprehensive course with amazing value that you can vouch for, and I hope to use your testimonial.
To give you an idea, here is what these blog series will be teaching you once all is said and done:
Through training on both tactical and strategic aspects, You will learn how to boost the value of your high-ticket offer by pinpointing market gaps and opportunities.
You will learn the secrets to turning premium leads into satisfied customers by mastering high-ticket psychology and marketing strategy.
A low-tech method that works wonders and will speed up your journey to profit while saving you months of work on elaborate funnels...
So let's get started:
So what is affiliate marketing? Affiliate Marketing is making money by promoting other people's products. With affiliate marketing, each affiliate is given a unique ID from the original merchant. This usually takes the form of an affiliate link that has a special code that is uniquely yours. Any time someone buys the product or service using your ID, or link, you earn a commission. Typically, these commissions will be between 10-50%, but some products will have commissions up to 100% of the purchase price. Additionally, other affiliates might offer you a flat payment per sale, like $100.
Why Start An Affiliate Marketing Business?
Affiliate marketing is a great way to start a business with no overhead and no product. It’s also a great way to earn more money in your existing business. All you need to do is focus on promoting someone else’s already-proven product. There is no easier or faster way to start earning money online than affiliate marketing. In fact all you need to get started is:
An affiliate website. An affiliate website is a website or page on your existing website that redirects to your affiliate product page. Having a separate website or page looks much more professional and clean looking than simply promoting a long ugly affiliate link.
A product to promote: I will talk about how to pick the right product in just a few paragraphs
The Right Model: There are many different models for affiliate marketing. In this post, I will show you 3 different but equally successful affiliate models and tell you which one is right for you.
How To Become An Affiliate Marketer?
So to become an affiliate marketer, the first thing is to find the right product to promote, There are an unlimited number of affiliate products you can promote, however, to be successful and profitable, especially right from the start, I recommend that you follow these steps, and yes it may be different than what you have heard so far, and that is because my goal here is to give you the right direction and not sell you a dream that is more like a shiny object.
IMPORTANT NOTE:
If you think there is a way to riches overnight, I am so sorry as I have to burst that bubble for you, Please understand and note that there is no method, or "secret" that you can use to help you generate thousands of dollars a day right when you start. DO NOT trust anyone claiming that, with his secret method, you can start doing so from Day 1.
Those who are generating this kind of profit, have started years ago, have worked hard, generated a huge list of clients/email subscribers that they promote without having to pay for traffic, and even then still pay for traffic and advertisements. The truth is, it may take anywhere from a week to a month for someone who has just started, to be able to make a sale and or their first dollar, there is no set standard and it can vary from one person to another even if they are selling the exact same thing.
Finding Affiliate Products
The easiest and best way to find an affiliate product is to start with what you know. Whether you are into sports or stock market or anything else for that matter, there are successful affiliates in almost every market.
So the easiest way to find a quality affiliate is to look at what the biggest and best affiliates are doing in the subjects you are already an expert or interested in.
There are almost as many affiliate networks as there are affiliate products. But please pay close attention to this: If you’re going to promote a product you’re not familiar with from an affiliate network, you want to stick to the bigger more reputable networks. To get started and test the waters you can start with Amazon Associates, Ebay, and even Walmart!
For digital products, there are also networks like ClickBank, JVzoo, Warrior Forum etc...
And please note the named networks is just for you to start and get you going, once you see traction and some success, there are much better networks and ways to do affiliate marketing with much bigger profits.
The last but not least way to find good affiliate products is to talk to other successful affiliate marketers. Ideally, you’d be able to speak to them in person, but if you don’t know any affiliates in real life and you don’t have the time or money to go to an affiliate conference such as Affiliate World there is still hope. You can join either free or paid affiliate communities such as ImamAffiliate or Afflift. You can also check out Reddit and Quora for affiliate marketing answers, read affiliate marketing blogs and look for product comparison posts. Just be aware that many of these posts are written by people who are selling other affiliate products or their own products on how to be an affiliate marketer.
How Do You Start Promoting Affiliate Products?
Well, when you are just starting, the one and only way for you, is PAID Traffic, now this can be via paid advertisement or paying-to-buy clicks using what's known as Solo-Ads.
If you had a mailing list of course that would be another way, but when you are just starting out, You need to build that audience and email list. and since you are buying the traffic, it is important to know:
This is the most expensive but also the most lucrative way to promote affiliate products. When you buy traffic the equation is very simple:
Get buyers for the affiliate at less than the commission you will earn. For example, if your commission on a product is $50 you want to try to acquire buyers with ads for around $20 that way you still profit $30 per buyer.
You should buy traffic as an affiliate if you have more money than time, or you have a lot of experience buying paid media like Google and Youtube ads. You should not buy traffic as an affiliate if you are worried about every dollar you spend or you need to see an instant return on investment or you won’t be able to keep the lights on. Now if you have time it is best to start working on Organic traffic, and that is by posting, writing articles, social media and so on, which is time consuming and may take months before you see any results, however once it starts it wont stop, granted you keep doing what you were doing, basically nothing beats search engine optimized contents. if you have an optimized website that gets ranked and gets to first page of google, you are set for life!! (again, as long as you can keep it on the first page)
So as you can see there are no magic wonds/bullets to use and start making money online, it needs work.
When it comes to buying traffic you want to focus on:
Picking the right channel Different channels work better for different types of products. Things like clothing and sunglasses do better on instagram while things like video courses do better on YouTube. You’ll want to really dig in and see what channels other affiliates are doing the best on. Be sure not to pick more than 2 channels at first or you’ll waste your time and budget on small sample sizes that are not useful for scaling your business.
Setting a Cost per acquisition Your cost per acquisition is the MOST money you can spend on getting someone to buy your affiliate product. For example if your affiliate payout is $100 the most you could spend to acquire a customer and still be profitable is about $80. You need to build in a margin of at least 20%. Though obviously more is better.
Setting a budget You will need to set a daily, weekly and monthly budget for each channel you will be running ads on. Generally, your budget should be 3-5x your cost per acquisition.
Creating and running your ads We’ll discuss how to create ads later in this guide.
You should begin building an audience to promote to if you have no or less than 1,000 email subscribers or less than 10,000 followers on a single social media channel. You should not begin building an audience to promote to, if you don’t want to put in the work or can afford to pay someone to do it for you. Everyone can use the activities listed in this section to grow their affiliate business so even if you have an audience or can afford to pay for traffic you should still consider implementing these tactics and techniques. When you are building an audience to promote to you want to focus on:
Creating an affiliate website
Create an affiliate blog.
Create 1 or 2 social media account
Keyword research
Create a lead magnet to capture email addresses
Begin blogging
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Want to Make More Money?
Learn How To Launch Your Own Wildly Profitable Affiliate Marketing Business In Just 7 Days.
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Making Money with Affiliate Marketing: Tips and Strategies
Want to Make More Money?
Learn How To Launch Your Own Wildly Affiliate Marketing Business In Just 7 Days.