It’s the beginning of another year, and many people are once again starting to look for more ways to make money. For some people, an internet-based side gig is enough just to help supplement their regular income.
For others, starting an online business to entirely replace their current source of income is the way to go.
While there are thousands of ways to make money online, there is no question that one of the easiest ways to do so is by doing affiliate marketing. When done correctly, it can be the most profitable online business to start in 2021.
The thing about affiliate marketing is that anyone can do it. It’s not to say that anyone can succeed at it because when it comes to success, it all boils down to how much time and effort you’re willing to commit to it.
Why Affiliate Marketing?
Affiliate marketing may not be as easy or simple as earning profits via website ads, but it’s still a relatively easy online business to do. It has more potential for profit, too than just simply running ads on a website.
The best thing about affiliate marketing is that it lets you earn money even if you don’t have a website, blog, or product of your own.
By following a few simple steps, you can already have a business running within hours and earning commissions in less than a month. In that way, affiliate marketing is definitely one of the easiest and fastest ways to make money online and one that should be included in any online entrepreneur’s portfolio.
One of the reasons why affiliate marketing is easy to do is that the formula involved in doing it doesn’t change regardless of the market or niche.
Your only real goal here is traffic generation, which means you have to find ways to drive prospects to a particular merchant’s website via a unique affiliate link placed strategically within your website or blog.
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Now, ordinary people like you and me can gain website traffic through blogging, guest posting, and posting content to Instagram, Facebook, and other social media sites. If budget allows, you can gain traffic even faster via paid advertising.
This includes using paid Facebook ads or Google Ads, as well as running banner ads on different websites.
We all know that copywriting is an important skill any affiliate marketer must possess.
The good news is that you don’t need to worry if you have no background in copywriting yet because many merchants are willing to provide advertising copy that you can use for your website posts and ads.
They will also provide you with emails to distribute, as well as banner ads to display, and sometimes even content that you can post on social media.
That said, what essential steps must you take to succeed with affiliate marketing? In the following sections, I’m going to show you some of the most critical steps you should miss when launching an affiliate marketing business.
These steps or principles will help you get started quickly and with ease.
Choosing The Right Affiliate Network
In order for affiliate marketing to work, you have to make sure you select the right merchant to work with. There are several factors you need to consider that will help you end up with the best merchant or merchants.
Perhaps, the most important factor to consider first is to make sure you love the product or brand you’re promoting.
When you’re selling what you love and believe in, it stops being a job. That said, choose products that you actually love.
What if you come across a product that fits your profile, but you don’t have knowledge about? In that case, you’d want to learn as much as you can about that product.
Read about it, become familiar with it, or, if possible, try it. There will be instances that you won’t find yourself passionate about a product, but in most cases, great knowledge about that product will be enough to fill the gap.
It’s already a given that the product you choose must fit your niche, but this is such a crucial point that’s worth stressing. If you are ever going to succeed with affiliate marketing, it’s only by making sure that you choose products that are related to your blog.
Of course, you can always think outside the box and be creative.
For instance, if your blog is all about car care, you don’t have to stick to promoting car care products. There are other products you can promote and sell including car insurance, car events, hotel bookings…anything that’s related to car and travel.
Commission levels are also a top consideration. A lot of affiliate marketers think that higher commission levels provide the best opportunities for earning. However, that is not always the case.
High commissions may be offered on low-sale products, while high-selling products may have a much lower commission rate.
The number of products you can sell will affect your AOV or average order rate. Thus, a high AOV with a low commission rate will earn more than a low AOV with a high commission rate.
For instance, let’s say you have two products sold at the same price. Product A gives you a 1% commission for every 20 units you sell, while product B gives you a 10% commission for every unit. In this case, product A will give you more opportunities for earning.
Buying And Using The Product
As an affiliate marketer, you don’t really have to purchase the products you want to promote on your blog. However, if I’m someone reading your blog, I’d be able to trust you more if I knew you’ve actually tried the product before promoting it.
Having intimate knowledge of a product can mean the difference between driving a potential customer straight to your merchant’s site and driving them elsewhere.
One of the best ways you can enhance your credibility is to write product reviews. Start with inexpensive information products like e-books.
Once you have established a steady stream of income, consider buying and trying higher-end products, but not before you have gotten in touch with the merchant or creator of the product to work out a marketing plan that’s strategic enough to take you a level higher.
Some of the most successful affiliate marketers even share case studies of products they promote after they have used them for a while.
After all, there’s no better way of convincing people to try something than showing them that you have tried the product yourself and have experienced good results from it.
Merchants may eventually offer you “free” samples of their products once you’ve started to build your reputation.
There’s no question that affiliate marketing is one of the best ways to earn money online, but success with it doesn’t happen overnight. When people come to me asking how I started with affiliate marketing and how they can also do affiliate marketing themselves,
I always emphasize to them the importance of gaining knowledge and skills through training.
Yes, it’s true that experience is the best teacher, but in many cases, other people’s experience is the better teacher. That said, before you even start building a website to use for blogging and affiliate marketing, I highly recommend that you spend enough time researching affiliate marketing first.
You’re off to a good start…
actually, considering that you’re reading this article. In addition, I’d like to recommend that you receive your training from Wealthy Affiliate as I have. Wealthy Affiliate is a leader in the industry when it comes to helping and training aspiring affiliate marketers.
For over fifteen years, WA has been helping people start their online business and get out of the rat race through affiliate marketing.
By signing up for an account here, you can get a website that you can immediately set up and start using for your online business.
You also gain access to the Wealthy Affiliate boot camp where you can enjoy free training resources and tools not limited to affiliate marketing, search engine optimization, and digital marketing, in general.
This is not to say that you are guaranteed to succeed once you sign up.
What is guaranteed, though, is that you will be equipped with the right information and tools you will need to be able to successfully start an online business you can call your own.
Affiliate marketing can be the most profitable online business to start in 2021, but again, that’s only possible if you can do it the right way.
I’ve seen many people starting a blog for an online business, but eventually gave up because they were not equipped with the right knowledge and skills to successfully carry out an affiliate marketing business.
That said, the only way you can do affiliate marketing right is by making sure you do it properly rights from the very start.
And if there is one way you can do that, it’s by making sure that you arm yourself with the right information about affiliate marketing first, and that is by going to this page and signing up with Wealthy Affiliate.