Why Should You Start An Affiliate Marketing Business?
If you’re looking for an exciting new career, consider trying your hand at affiliate marketing.
The demand for affiliate marketers is expected to double within the next few years, according to the 2019 Global Job Watch.
Start-up costs are low, and there are plenty of training programs available online, making it easy for anyone to get involved in the action.
The demand for affiliate marketers comes from all industries – even those outside of traditional marketing and sales. The increasing role of digital and online marketing in every industry is leading to new opportunities for marketers to grow their skills and establish themselves as experts in their field.
What Is Affiliate Marketing?
Put simply, affiliate marketing is the performance of marketing activities (mostly sales tasks but also including some marketing activities) for different companies or products on behalf of others. When an affiliate marketer promotes a product or service for a company, they normally do so with an affiliate link included in their message.
An affiliate link is a reference to a product or service that is being promoted. When a visitor clicks on an affiliate link and makes a purchase on a site, the affiliate marketer earns a commission.
The Role Of An Affiliate Marketer
The role of an affiliate marketer is to drive traffic to a particular website or social media page. Once the visitor arrives at the site or app, they can make a purchase or fill out a form to receive more information. The affiliate marketer then gets paid when the conversion happens.
There are many different tasks associated with the role of an affiliate marketer. The most basic is driving traffic to a website and getting paid when a purchase is made. However, to really stand out from the competition, you need to specialize in digital marketing and become an expert in SEO (search engine optimization), PPC (pay-per-click advertising), and conversion rate optimization.
How To Start An Affiliate Marketing Business
To start an affiliate marketing business, you need to have a viable concept and the ability to find a profitable niche. The best affiliate marketing opportunities come with well-established brands that already have a large audience, loyal followers, and a proven track record. However, even newly founded brands with no existing audience can have a successful and profitable affiliate marketing program if they have the right team around them.
Once you have your concept, the next step is to pick a profitable niche. An easy way to do this is to look at the current market trends and then find the areas that your product or service can seamlessly fit into. For example, if you’re selling women’s clothing, you can target the millennial and Generation Z audiences because of the huge market share that generation Z has come to represent within the clothing industry. This is also a great way to appeal to a more general audience since the demographic information of your target audience will be easier to reach.
Once you have your niche picked out, you can move on to the next step – creating a compelling offer.
What Makes A Good Product Or Service For Affiliate Marketing?
A good product or service for affiliate marketing should be highly relevant to your target audience. To figure out what will resonate with your potential customers, you need to first consider their needs and wants. Then, you can craft a compelling offer that will make them interested in your product or service.
The better the product, the more you will be able to charge. However, quality does not necessarily mean that the product or service is expensive to produce. Some of the best affiliate products and services are very affordable and can be effectively marketed for a profit even to a non-commercial audience. This is because the products appeal to a particular group of people and can be easily marketed to them. Think of products such as Amazon Basics, Tesla coils, or Fitbit products.
Creating An Inbound Marketing Approach
Even though you are an affiliate marketer, you are not necessarily expected to sell directly to consumers. In many affiliate marketing programs, you will be referred to as an “affiliate partner,” or “sponsored partner,” and you will be given a link that spent customers can click on to reach the merchant or product manufacturer’s website. When a customer clicks the affiliate link and makes a purchase on a site, the affiliate marketer earns a commission.
This form of advertising is known as inbound marketing, and it focuses on attracting, engaging, and delighting people rather than pushing products.
The Difference Between Affiliate Marketing And Traditional Marketing
Despite the fact that both involve marketing and sales, affiliate marketing is a little different from traditional marketing. For starters, if you are promoting a product that is already for sale, you will not make a commission from the sale.
Instead, you will earn a commission when someone clicks an affiliate link and makes a purchase a product or service that is not yet for sale. Additionally, affiliate marketing often requires more work up front, but the benefits (e.g., potential to earn a hefty commission) make the effort worthwhile.
On the other hand, traditional marketing mostly relies on coverage in the mainstream media (i.e., print, radio, and TV) to gain exposure for a product or service. The advantage of this approach is that a lot of people are likely to see your ads in the relevant media.
Attracting A Larger Audience
To attract a profitable audience, you will need to consider other revenue streams in addition to affiliate sales. Depending on your industry, you may be able to generate revenue through partnerships (e.g., with academia or established non-profit organizations), sponsorships (e.g., for creative projects or social justice campaigns), or direct sales.
To attract a larger audience, you can also consider creating a content marketing strategy that mixes headlines with in-depth stories and case studies. When writing your content, it’s important to maintain a balance between selling and educating your readers. The goal is to create content that is engaging enough to keep the reader’s attention while also being informative enough to provide them with value (e.g., helpful tips, fascinating facts, or examples of the best products).
Getting Started As An Affiliate Marketer
If you want to get started as an affiliate marketer, all you need is a viable concept, a computer, and the willingness to learn.
The next step is to select a niche and create a compelling offer.