Affiliate marketing is about making money. Good money. And, yes, you can make money through affiliate marketing while sleeping.
In the article, I will share a beginner’s guide to using affiliate marketing to generate more passive income. If you’re new to it, I believe the post will be helpful for you. Otherwise, let’s explore and discuss the said topic further.
Before we get in too deep, let’s start with a very brief definition.
What Is Affiliate Marketing?
Affiliate marketing is when an online retailer pays us a commission for traffic or sales generated from our referrals. It’s like earning a commission by promoting our own, other companies, or people’s products through websites.
How to make money through Affiliate Marketing?
There are simple 3-step process as follows:-
- Recommend a product or service to our followers
- Followers purchase the product or service via our affiliate link
- We get paid a commission for sales made via our affiliate link
(depends on which basis model like CPA, CPC, CPM, etc)
What is the difference?
Cost Per Mille (CPM)- The Media company charges advertisers on impressions, which counts in 1000.
Cost Per Click (CPC)- Websites charge advertisers for each user who clicks on the ads.
Cost Per Action (CPA)– Media companies charge advertisers when users click and do SPECIFIC actions on the ad.
How to start with Affiliate Marketing
You should know the basic definition of affiliate marketing and how it works. Let’s discuss how we should start with affiliate marketing.
Here are 7 steps that you should refer to if you decide to start to make passive income by affiliate marketing:-
1. Find Your Niche
Selecting the right niche will give focus to your business and also you with content. Besides that, it’ll also make it easier for you to create targeted marketing campaigns to get the right audience.
How to choose the right niche? Here are some guidelines:-
What am I passionate about? Typically, the things we’re passionate about are things we’re usually knowledgeable about. This could be a beneficial point and make it much easier to create valuable content.
Is the topic big enough? Are there enough topics to create 100 blog posts? Otherwise, you may struggle with Search Engine Optimization (SEO).
Is there money in this niche? Money, without a doubt, isn’t everything. However, if you’re interested in the topic and need to decide between an option that generates income and one that doesn’t, you might naturally lean toward the money-making choice. While financial gain is not the sole measure of success, it can be a significant factor in your decision-making process.
2. Build a Website
Once you’ve found your profitable and right niche, you’re ready to build a website or blog. WPBeginner has a great guide to help you to choose the right website platform and it’s easy for the entire process.
While creating website/ blog, there are several pages which you shall consider as following:-
About us: Make it personable and let people get to know you.
Contact: This should include all contact information you want to share with your readers, advertisers, or potential partners.
Terms of Service: This is a legal page limiting your liability if you misuse information or services provided on your site. It also details user responsibilities regarding copyrights and trademarks.
Custom 404 Page: Custom 404 pages goes a long way toward improving the user experience.
Advertise: If you plan on selling on-site ads, include a page for advertisers with information about available spots, monthly views, audience demographics, and a contact form.
3. Create Valuable Content
After the framework of your website is ready, you shall start to create content.
Some affiliate networks or programs require you to have established content, site traffic, and monthly site views for their reference before they accept you as an affiliate. Every affiliate network has different requirements. Thus, to be sure, read the requirements for the specific network and program before you consider applying as an affiliate.
However, this doesn’t mean you have to create 100 pieces of content before you want to apply as an affiliate marketer. You must have at least 5 valuable content or posts ready on your site.
4. Grow your own Email List
Email is one of the primary communication channels for marketing. And, it still carries a wild $38 return for every $1 spent.
What does this mean to you? It’s 3800% worth it to invest some time and money into growing your email list.
One of the easiest ways to grow your email list is by adding a popup to your site:
If you have never done email marketing before, no worries. We will discuss email marketing further on the next topic.
5. Choose Affiliate Products to Promote
Now, it’s time to choose affiliate products to promote. Of course, choose the product which fits your own niche, and it’s related to your created content.
Promote products you already use
Make a list of all your products and services and search Google for affiliate programs. Then, write reviews and insert the affiliate links.
Promote products that fill needs
You may get advice from those who are interested in your niche, what the problem they are facing is, and provide them with a solution. Find the product that can help them out. If you find the products are good, you can choose to be affiliated and recommend the product to them.
Remember, one of the best ways to reach the right audience is to determine whether you can provide the valuable solution they are looking for. If the solution works, they will be willing to pay for it.
Promote products from others in your niche
You may also check out Instagram, Twitter, Pinterest, and Facebook to look at #affiliate and #ad to see which products other affiliates promote.
6. Join an Affiliate Marketing Network
Affiliate marketing networks are online marketplaces where retailers list their products and affiliates can find products to sell. The marketing network acts as a middleman. As an affiliate, you should never have to pay to sign up for an affiliate marketing network.
Here are a few of the more popular affiliate networks out there, but there are so many more than this:
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