By Amanda McCormick Updated May 31, 2015 Most people's understanding of "affiliate marketing" starts and ends with ...
Updated
May 31, 2015
Most
people's understanding of "affiliate marketing" starts and
ends with the Amazon
Associates program,
one of the biggest in the world.
For
the entrepreneur, the challenge with Amazon Associates is building
enough traffic to generate substantial revenue. For the newbie, the
traffic hurdle is almost unsurmountable. But don't despair! You can
create a successful affiliate marketing business, if you do so
strategically.
What
is affiliate marketing?
Affiliate
marketing is when a publisher or company gives you a cut of each sale
they make when you promote them on their site. There are lots of
different affiliate opportunities, from courses to web hosting to
books, tapes and DVDs. More
on affiliate marketing.
Let
the affiliate marketer beware
Affiliate
marketing are sometimes touted as "get rich quick schemes"
by shady sites offering pyramid schemes that promise quick cash for
little effort. Make no mistake -- successful affiliate marketers put
in a lot of
effort toward building an audience and quality content that will
bring in sustainable passive income. Expect to do a lot of legwork up
front -- but if you play your cards right you can build a solid
source of revenue over time
The
key to successful affiliate marketing
So
you've committed to building an affiliate business. Your success as
an affiliate marketer is tied to these questions:
-
Can you find products or services to offer that offer you a great commission rate?
-
Can you find a niche market that is likely to buy what you are offering?
-
Are you able to build content and traffic around these products?
How
to find a favorable commission rate
Amazon's commission rate
is pennies each dollar of merchandise that you sell.
What
many people don't know is that there are affiliate opportunities out
there that pay commission rates that are much more favorable, from
$20-$100.
Browse Commission
Junction, Share-a-Sale and Ejunkie for
opportunities and their general commission rate.
Target
a niche
If
you're just starting out, a
niche market is
the obvious way to go. Look for a market that has a clearly defined
need and willing audience. Then, find affiliate opportunities that
dovetail with that niche market.
Create
an effective website
Once
you have a great product you believe and a target market, you'll need
to stock a site with quality content that will help drive traffic and
affiliate sales. This
articlehas
some great tips on the nitty gritty of creating your own website.
Once you have your website set up, you'll want to optimized it for
conversions and sales. Learn
about the four qualities of an effective website.
Build
an audience through trust
The
most successful affiliate marketers build compelling content first,
and affiliate revenue later.
Chris
Brogan has
said: "when there’s an opportunity to bring something of
value to your community and make
some money for your efforts, then you’re looking at what I think of
as a great opportunity."
To
build a successful affiliate program, it helps to care about the
products you are selling, and to offer legitimate value beyond just a
quick sale. While you can build an affiliate business around any type
of product, it helps if you actually use the product and endorse it
personally.
Make
sure you understand disclosure
A
couple of years ago, the FCC introduced new rules that covered the
increasingly professionalizing world of bloggers. Now you must
disclose when you have a financial interest in a product or service
you feature on your blog. This goes for sponsored posts, but more
importantly, affiliate links.
Many
affiliate marketers, including Copyblogger Media and Chris Brogan,
attempt to use this to their advantage. How? They use the disclosure
as an opportunity to talk about how much they personally love the
product they are selling.
COMMENTS