Affiliate Marketing For Dummies – The Ultimate Guide
Affiliate marketing is something that practically every website owner should have basic knowledge in today’s digital world. Even if you do not personally use it in your monetization strategy, there may be a time that you do. This affiliate marketing guide for dummies can help you understand one of the most popular ways to monetize websites used by online businesses.
Affiliate marketing has become an ultimate way to generate passive income online. Enroll in an affiliate program, insert links on your site, and see how you will earn commissions when people buy things with your links. However, the details can become confusing as you enter the world of being an affiliate. This guide will summarize the basics of affiliate marketing for newbies to give you a solid foundation from which to grow.
What is Affiliate Marketing?
It is a type of business in which you receive a commission only for selling or sending prospects (leads) to products or landing pages of other companies.
Let's suppose that you have a product that you want to sell; then you will hire promoters who will publicize that product for you. They will get a commission benefit through the affiliate program for your brand.
Many catalog sales businesses have this same scheme, in which the promoters take a good commission to sell the products of a company.
The affiliate can promote the product the way he wants. In different places, your blog, email marketing, social media publications, etc. With each sale that closes, he will earn a commission, and the company will also make a profit.
Advantages and Disadvantages of Affiliate Marketing
Whenever we talk about affiliate marketing we all think about the commission money, but there are many other associated advantages:
In general, an affiliate system is much more efficient than advertising because only successes are rewarded.
The click on an ad has no value, what counts is that the customer makes the purchase. It is a results marketing, not a traditional branding or promotion topic.
Not everything that glitters is gold and, in affiliate marketing, it is not for several reasons:
As I said before, it's useless for people to click if they do not buy later. You have to push the purchase, and that's always harder than asking someone to click on an Adsense banner, and that's it.
What makes up the affiliate marketing system?
The creator of the product: It can be a single person or a whole company with a recognized brand, the point is that you have a product or service to offer.
The affiliate: Similarly, it can be a single person or well-developed marketing companies. The more effective the promotion of the product, the greater the commission that you get. Its primary objective is the attraction of potential customers who are interested and convinced of the value of the product that is being offered to them.
The customer: Closes the shopping cycle; Without sales, there is no commission. You do not necessarily have to know that the sale is part of a distribution system by affiliation, simply be convinced to acquire the product.
Affiliate Marketing for DUMMIES: Know What Products to Promote
This dummies guide to affiliate marketing would not be complete without pointing you to the right direction on how to find the right products to promote. The best products for promotion will not be the same for everyone; they depend on your business and audience.
1. Choosing the right niche
If you have not yet launched your project, the first thing you have to do is choose the market in which you want to specialize. Forget about being a traveling bazaar and offer all kinds of products.
That does not work.
A profitable niche for you will be the one that complies with these four pillars:
1.1. A subject that you are passionate about
There are still many people who think that an Internet business only consists of opening a page, choosing five products and starting to sell. Ask yourself a question: where do you think the clients are going to come from?
If you are starting, your budget is limited, and you will not be able to invest in advertising on Facebook Ads or Adwords.
To get clients you have to develop a content strategy. You will have to write to attract your ideal readers, your future clients.
Can you imagine doing all that on a subject that you do not like? Before you make a single euro, you would quit.
1.2. The Importance of the products to the customers
A market is nothing more than a group of people who have a common need. They have a problem, but not the solution. This is what Americans call pain factor or pain point. The more a wound hurts, the sooner we want to heal it, right?
"The key to the sale has always been and will be to detect the problems of an audience "
The key to selling has always been and will be to detect what are the problems of an audience so that you can offer them a solution.
1.3. Market Size
The bigger a market is, the more sale options exist. But also more competition. If you are a beginner, it does not make sense for you to fight against giants, the ideal is that you segment within your market.
1.3.1. Do Not Invent New Market
A very typical mistake when you start with business online is to find a revolutionary product. A product that nobody knows, but that you think will change the world. A new product implies that there is no market in itself. There are still no customers who have that need or are aware that they have that problem.
How to choose the right product to promote in Affiliate Marketing
Now that you have decided in which niche you are going to work, it is important to see what products you are going to sell.
What everyone does is to choose only the products for which he will charge more commission.
I insist on the idea of before: this is complete idiocy since the only products that are sold are those that are useful, not those that have the highest price.
1. Expensive product vs cheap product
When it comes to making profits with the sale of products, you have two possible strategies to follow:
I recommend the second option for a simple matter of numbers. Imagine that you sell a €500 product with a commission of 50% per sale. With 200 visits and 2% conversion, you would charge €500.
However, with a product of € 20 and with that same level of commission, look at what would happen. With those same 200 visits, although we increased the conversion to 20% (almost impossible when you start), you would earn € 100.
2. The product from which many contents can be written
Your customer attraction system is based on the content you can create by talking about the product. If you choose a niche where you can only write five posts, you will be limited when it comes to getting visibility.Do a little analysis on Google to review the contents that are already written. You will need about ten minutes to realize the route that the product may have.
3. What is selling now? Performing Little Research
Remember what I told you before: your objective has to be to attack already developed markets. And within these, you have to choose the products that you know are already working. We have three options to help us find out what is selling.
Amazon is one of the great monsters of e-commerce and one of the most popular affiliate networks in the world. To find out which are the bestselling items, you have it very simple. You just have to enter the option "all departments", and there, click on "best sellers".
ClickBank is one of the largest and most known affiliate platforms that exist and that gives you the option to market many products of different themes.
To see all the articles, you just have to navigate through the categories. What is it that will show you that a product is interesting?
Udemy is an e-learning platform that gives good proof that the Internet knowledge market is in full development.
3.4. Keyword Research Tools
One of the most effective ways to analyze if a product is high in demand is Google itself. The first thing you have to do is locate the most interesting keywords in your sector. For this you have many tools:
7 steps to succeed in Affiliate Marketing
1. Find a unique niche
The mistake that many aspiring Affiliate Marketers have in common is that they try to offer everything under the sun instead of focusing on a specific market niche. Do not spread your efforts, concentrate on your niche market, promote it and sell it well.
2. Search engine marketing
Once you have created your affiliate blog, you must promote it. Many affiliates use pay-per-click engines. I suggest you learn how to achieve organic search results or hire a search engine marketing company. You will save spending all your earnings on pay-per-click engines.
Use pay per click engines if you know exactly what you are doing. Otherwise, all your benefits may end up in the hands of Google Adwords or Overture.
3. Know your product and your audience
By taking the time to learn about the products and services that you offer, you can create information that generates credibility. That credibility creates confidence. If your visitors do not trust you, they most likely do not buy from your ads.
4. Do not put all your eggs in one basket
Promote products from different merchants. This way, if you have a problem when receiving the payment from a merchant, or your products do not convert well, the effects on your business will be minimal.
Beware of exclusivity agreements; Remember that this is your business. Protect yourself and diversify, so you do not feel the effect of hunger if something goes wrong. There is absolutely nothing wrong with promoting products from the same niche of different merchants.
5. Find knowledge and accept the change
If you are familiar with digital marketing, you know that what worked three months ago may not work today. Keep up with trends. Search for knowledge Start learning something new about affiliate marketing on a daily basis.
To be a "super" affiliate you should always spend time reading, learning and embracing changes in internet marketing.
6. Use the metrics
The good thing about digital marketing, unlike traditional marketing, is that you can know who, how many, how and why. Metrics help you make decisions based on simple data such as: At what time the users read your posts, what gender is the audience that buys such products, etc.
7. Do not give up
It's hard to do, and most of the time those who venture into affiliate marketing leave too soon. Control your statistics, look to see what works and what does not. Make changes when necessary. Do one thing a day to promote your store and be patient. Before you know it, you will start receiving payments.
How to sell more
No, you have not finished yet.
When you have already created a method, your goal is to improve the results you have obtained in each of the phases. I'll show it to you:
Improve conversion: Create squeeze and optimized landing pages towards conversion with Thrive Content Builder. Another very useful tool to improve the recruitment of subscribers is to create forms with Thrive Leads.
Increase traffic: This has to be a constant. New visits are new subscribers and new potential customers. Retake the networking if you have parked it, do not stop writing guest articles on other blogs and improve your SEO even more.
Sell your own products: Why only receive a commission when you can take the whole ration of the cake? You have already done the most difficult thing; you know your niche and the needs of your audience. With that clear, you only need seven days to create a product and Launch it to the market. The rest are excuses.
Sell more than one product: You've already seen that in affiliate marketing you have access to multiple articles that can be useful for your audience. Check which products can be complementary to those you already sell and create new subscription forms and sales funnels.
Replicate the method: yes, you have achieved it, your affiliate marketing has been a success. So, why not apply everything you've learned in a new sector? Of course, the key to this phase is to outsource part of the work.
Common beginner mistakes in Affiliate Marketing
1. Sign up for too many affiliate programs
There is nothing necessarily wrong with having multiple revenue streams, but signing up for too many affiliate programs can be counterproductive to success.
Potential customers will know how well you know the product when reading your content. It is logical to think that the more products you promote, the less you will know about each one. If customers start to doubt your authority, this could affect clicks and sales.
2. Do not promote products you know nothing about
Promoting a product that you have never tried can also affect your credibility and sales, despite your best intentions.
The promotion of a product that you have tested and compared personally allows you to create more authoritative content and makes you more knowledgeable about your customers. You will be able to answer all the questions with sincerity and present all the facts. This is essential to build trust with your customers.
4. Do not collect customer emails from the beginning
A robust email marketing strategy is a must for affiliate marketers. It allows you to build a genuine relationship with your readers and also provides you with a pre-established list of potential prospects.
While collecting emails from customers may seem awkward at first, which leaves many simply leaving that aspect aside and concentrating on other areas, it does not have to be that way.
A proven and reliable technique is to implement email opt-ins on your site, along with the promise of something valuable, such as a weekly newsletter, a free e-book or a report for the reader:
5. Choose quality over quantity
Many new advertisers start generating content, from the beginning, worrying only about the number of publications in their file. However, place your focus on quality.
One or two detailed and valuable messages per month that give readers all the information they need to make a purchase decision will ultimately prevail over a brief article every day that does not cover the product you're reviewing.
6. Track and manage your links
Link tracking is essential to create a successful affiliate business, and if you do not, you are destined to fail in this way. Not knowing if your campaigns work will make you lose money and also stop perceiving it.
It is very likely that the affiliate company has a platform so you can see your statistics.
We have provided everything you need to know about Affiliate Marketing: the good, the ugly, the bad. The opportunities are enormous, and the risk very little. Find your favorite niche and start generating useful content about it.
Factors to consider when choosing an affiliation platform
Payment methods: Some platforms require a minimum sales quota to make a payment or invoice. You must take this factor into account.
Requirements to join: Generally, no requirement is needed. However, there are specific platforms that, due to the products they manage, request that the member have a blog that is stable, that is, has a certain age, as well as a minimum number of visits and subscribers.
Available brands: For you to have a greater amount of income, you must have known brands at your disposal. However, some platforms only focus on independent or little-known brands, and this will make it very difficult for you to obtain information with which you can develop effective content about your products. In addition, the displacement of the same will be slower and therefore the commissions scarce.
Percentage of commission: Each platform can handle programs for different affiliates, in which the term can go from thirty to sixty days. Investigate with other affiliates if the platform is punctual in the payments or if they tend to delay them.
Tools: That is, what this platform can offer to facilitate your work. One example of this is banners. The resources of analysis and statistics on products and existing competition.
Conclusion: Dummies Guide to Affiliate Marketing
I hope this guide has helped you learn the basics of affiliate marketing and lead you to future success in the programs of your choice.
Remember that the key to success in affiliate marketing is to find the best products to promote within your niche. You can do this by taking the time to research the best keyword(s) for each of the products and services you want to promote so you can create focused content that attracts the right audience.
Yes, I've emptied myself completely, and you know why?
Because now you're going to get up and you're going to make a coffee. When you come back, you will save this post in favorites and, you will pick up a notebook.
In it, you will indicate which market niches you like and which are the possible needs that this public may have. Then, explain to me in the comments your choice.