Affiliate Marketing spending is estimated to exceed $8 billion by 2020 from Stat . Given the $2017 billion spent in 5.4, the Affiliate Marketing industry is growing rapidly.
But should you make money from the opportunity?
Many influencers and online earning gurus make you believe that everyone should do it because it is easy and grows significantly.
While the latter is true, Affiliate Marketing is not far from getting rich quick. It takes a considerable amount of effort, time, and perseverance before you start to see the first few bucks move.
To give you a better idea of how affiliate marketing works and whether you need to immerse your toe in it, we are going to discuss the three main types of affiliate marketing.
But before you get to the goodies, let’s update the basics:
What is affiliate marketing?
Affiliate marketing is a business model where you (an affiliate) earn commissions on each of your sales by promoting a branded product.
The above definition gives a reasonably comprehensive picture of the affiliate marketing system, but it is missing because it covers only three of the four parties in the process.
While a person can establish a direct relationship with a brand and market its product to order, most of the time there is a broker (partner network) involved.
The partner network supports payments and product delivery and at the same time acts as a database of products that the subsidiary can advertise if it wishes.
So the real affiliate marketing system involves the following parties:
- Subsidiary (product promotion and reward)
- Brand (whose product is marketed and sold)
- Customers (who buy products)
- Partner Network (Broker)
YouTube channel
YouTube, the second largest search engine, is used by more than 73% of adults, according to the Pew Research Center .
And with over 2 billion monthly users , YouTube is a goldmine for affiliate marketing.
But before you start making a lot of money from it, here are all the things you need to make big of it by doing affiliate marketing on YouTube:
- YouTube account
- Partner network
- Decent operating system
- Video editing program
- Camera, microphone, webcam, etc.
How much does it cost?
Given that you already have a reasonably good computer, you will need to invest in a camera, microphone, webcam, and a monthly subscription to video editing software, all of which will cost you $300-500 (most of which is a one-time fee).
Pros and cons
Plus
- We’ve already looked at statistics on how huge the monthly traffic on YouTube is, and more traffic means more results (and more commissions).
- Because of the popularity of video content on the Internet, an amazing 88% of marketers said the videos yielded a positive return on investment. Given the growth of videos on the Internet, it’s safe to say that YouTube’s affiliate marketing won’t grow until the next few years.
- Unlike Facebook, which can kill page coverage with a small change in its algorithm, YouTube is a subscriber-based platform, making it a much more stable platform.
- More than 55% of search results show at least one video, and 80% of videos come from YouTube Tubular Insights . It clearly describes how easy it is to categorize videos.
DISADVANTAGES
- Creating video content is not easy. It takes a lot of effort and time to write the script, make the video, edit it, and then upload it to YouTube.
- Markets like technology, games, etc. are very saturated, which makes them difficult to succeed. There are others, like DIY Plumbing, that are easier to place but require a huge amount of work to create content.
What kind of videos should you make?
There are numerous video formats on YouTube, but only a few of them succeeded in affiliate marketing. These include:
- Comparison Videos / Product Reviews
- Best of Videos (Best Smartphones of 2020, Best Running Shoes, etc.)
- Help videos (DIY, How to build a Shack, etc.)
Still, the video format or niche is of secondary importance. The key is to remember to provide value to your customers. If you create sales content without generating real value, regardless of your video format or niche, you’re likely to fail.
It’s best to choose a niche that you’re passionate about, something you feel inside and out. This way, you can not only provide value to your customers and build their trust (which forces them to click on affiliate links), but also enjoy the process.
How to get traffic?
The whole idea of YouTube affiliate marketing is based on viewers. Therefore, it is only logical that a lot of traffic should be used for more traffic to get more sales.
Here are a few different strategies you can use to increase traffic:
Google and organic search
Ranking on Google is a great way to get more viewers.
You can do this by looking for queries that have a video ranking in Ahrefs (SEO tool).
Don’t forget to do keyword research to find keywords with huge search traffic. You don’t want to spend hours creating and editing videos on a topic that only a dozen people search for in a month.
YouTube is the second largest search engine, and you want to rank it too.
The basic idea is similar to investing in Google; however, it is a different platform and strategies differ.
subscribers
Have you ever wondered why YouTube always asks you to like, subscribe to and comment?
YouTube’s algorithm is designed to recommend videos that are similar to what you’ve watched or liked before.
In addition, YouTube has a subscription bar on the left side of the screen that shows the channels people have subscribed to and the number of new posts.
The larger the number of subscribers, the greater the number of viewers.
Start a blog (organic traffic)
Affiliate marketing through blogging is a common online business model, but it is not far from easy.
But if you play your cards right and you’re really passionate about what you write, there’s a good chance you’ll earn at least a higher-than-average income from it.
What is the starting price?
There are just three things you can do to create an affiliate marketing blog:
- Domain name
- hosting
- Autoresponder (software used to answer emails automatically)
You can buy a domain for $9-12 a year from Namecheap and hosting for $12-25 a month (dedicated hosting costs a lot more because of the added technical support). In addition, you can get a monthly autoresponder for $15.
So, you can start your affiliate marketing career by blogging for only $35-50.
Note: You will need to add additional costs for authors (for editing or additional content), A / B testing , social media campaigns, technical support, etc. as your business begins to grow.
How to create your blog for affiliate marketing?
Choose a niche
Just select the niche you want, dot.
However, if this niche:
- There is a high demand
- There are a good number of products
- There is an audience that is eager to buy
That’s a plus.
Create great content
Content is the basis of affiliate marketing.
Your content should be interesting, informative, engaging, engaging, and valuable to your readers.
And to create that kind of content, you have to be passionate and very familiar with the niche.
You need to be active in the forums and follow other bloggers and influencers in your niche to be at the forefront of current trends . This will give you insights into what is being talked about in an hour, what people want to know, and allow you to create your content around such topics.
Do what others do, but better
Follow top influencers and bloggers in your niche. Look at what they’ve shared, if it’s gotten some huge dimension and interaction, it means there’s a demand for it.
Now that you know what sells, sell the same thing, but better.
You can do this by discussing the topic in more detail, sharing infographics to make it easier to understand, or embedding relevant videos, etc.
network
Networking is crucial to make it big in this business.
If you comment and share other people’s content, there’s a good chance you’ll be back and helping you grow.
Promote
If your content isn’t visible to your target audience, no matter how well written it is, no one will read it.
The best way to promote your content is to be active in forums and social media handles related to your niche.
Answer surveys, share insights and interact with others to gain more visibility .
Sending guests (writing for someone else’s website / blog) is another great promotion tactic.
Stay permanent
There is little chance of earning income in the first few months.
Most people save in the first few months because they are unable to generate the income they thought they would.
But if you stay permanent and create content consistently, you’ll sooner or later earn a substantial amount of passive income from it.
And the only way to stay permanent is if you work in a field where you’re really passionate.
Also, you can read: How to make more money? Well-known bloggers give their tips and reveal their own income
Create an email list
Creating an email list should be one of your top priorities.
The thing about emails is that it helps you stay memorable to your customers with scheduled emails that provide value.
Email campaigns help you build trust and a strong relationship with your audience if done right.
paid ads
Creating content marketing strategies, working on content, creating links, promoting, email campaigns, etc. all take a huge amount of effort and time to show results. If you’re looking for more detailed information on these topics, I recommend reviewing this Partner Manufacturing Guide for more advanced topics.
However, the process can be tracked with slightly paid ads.
Note: Paid ads are not a substitute for organic growth, but using a paid advertising strategy will help with content.
It’s wrong to think that when you create a star ad, write a complete copy, and target the right keywords, the money starts to move.
While it works this way in theory, in practice there are a lot of obstacles that come your way.
The biggest problem with paid ads is that you target a cold audience with no purchase intent. Also, you haven’t yet built your confidence in people asking for a purchase.
Therefore, a practical paid advertising strategy is critical to success.
Here are a few notes:
Facebook Ads
In order for your Facebook ads to run successfully, you need to know the identity of the buyer, which includes gender, age, location, interests, etc.
But even if the buyer’s identity is present, redirecting them to the sales page doesn’t work. The problem is that you are targeting a cold audience.
The best strategy would be to direct them to something valuable.
Your goal should be to get them on Facebook Pixel (software used to tag visitors for remarketing) to tag and move them through the sales cycle.
Facebook remarketing ads
Now that you’ve tagged visitors through Facebook Pixel, you can start remarketing (sending ads to people on your website).
Because these visitors have already visited your site and shown interest, you can direct them to your results pages (sales pages).
The types of ads you send to these visitors can be adjusted individually based on the pages you visit and the things you do there.
Google search ads
Google search ads work by providing keywords.
This offer is further divided into:
First Page Bid Estimates : Bids appear on the first page of the Google SERP (Search Engine Results page)
Top of page bid estimate : The bid will appear among the top 1 ads in the Google SERP (search engine results page).
First place bid estimate : The bid will appear at the top of other ads
Again, people tend to direct visitors to sales pages using Google search ads, which is a flawed strategy because these visitors have no purchase intentions.
A better strategy is to target low competition, long attempts at keywords with the intention of getting Pixeled visitors (for remarketing) or email addresses for email campaigns.
Budget for paid advertising
There are several factors to consider when deciding on the budget for your paid advertising campaigns, such as:
- niche
- Destination specific location / currency
- Competitive
- seasonal variation
- Target keywords
You need to do quite a bit of research on the above factors in order to estimate the advertising budget you pay.
Ads paid by Google are charged in two ways:
- CPC template (cost-per-click)
- CPM model (cost per mile / thousand impressions)
Suggestions
- Use the CPM model to improve visibility.
- Start with a smaller budget and continue testing and optimizing based on their performance.
Summary
Now that you have a basic understanding of the three affiliate marketing models, you are in a better position to weigh the pros and cons of each model and decide which model is best for you.
But whatever model you choose, remember that persistence is the key to success.
Also, we have a premium make money online course. If you are Interested then you can enroll.
Some Benefits Of The Course:
✓ It’s extensive and covers a wide variety of subjects. I mentioned before that you’ll gain insight into managing and creating ads, content creation, and more. All these aspects work together for an in-depth lesson into everything you need to know about affiliate marketing.
✓ The course is kept up to date. Ten, twenty years in the future, you can’t expect the same strategies to work. I mean, imagine if Facebook were to be replaced by some other form of social media? Luckily the program is revised on a yearly basis to keep up with new trends, and so you’re getting updated tips and strategies you can apply to your business.
✓ It’s well organized and easy to navigate. The course is separated into different sections which help you flip through quizzes, revisions, and other areas you may want to specifically review. It’s also well laid out at a reasonable pace and follows a structure that isn’t confusing to allow for optimal retention.
✓ The community and support group is welcoming and a great resource even after you’ve completed the course. There’s a Facebook group dedicated to users of the SAS system where you can connect with experts and others like yourself. You’ll also gain access to an email marketing forum where you’ll be able to make use of the knowledge base anytime you need to.
✓ Customer support is easy to reach and eager to please. I like how the customer service team can be reached through email and you get a response within 1-2 days. The replies are quick, straight to the point, and often don’t need reiteration on your part.
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