You’ve heard that you can make money online with affiliate marketing, right? You might have looked it up on Google.
Then you’re turned off because everything seems like a get rich quick scheme or a scam.
The truth is that you can make money online with affiliate marketing. There are also scams and schemes out there. That being said, retailers are predicted to spend $6.8 billion on affiliate marketing by 2020.
How do you make money and avoid the scams?
Stay tuned for the top tips to make money with affiliate marketing.
What Is Affiliate Marketing?
Affiliate marketing is a referral based marketing that pays commissions based on performance. As a blogger, you can
For example, if you have a blog about fashion and you review shoes, you can link to shoe retailers (as long as you sign up as an affiliate), and refer traffic to those retailers.
When someone buys a product based on your referral, you receive a commission.
The most well-known affiliate marketer is Amazon.com. In 2015, the giant online retailer saw revenue of $107 billion in 2015. Affiliates were responsible for generating about $10 billion of that revenue.
5 Tips to Make Money Online with Affiliate Marketing
Now that you know the very basics of affiliate marketing, how can you make money doing it? These six tips will show you the way to go from zero to hero in the eyes of your retailing partners. By helping them, you’ll be helping yourself.
1. Have a Solid Business Plan
It doesn’t matter if your affiliate marketing is a side hustle or a gig that will replace your income. You need to have a plan.
With a plan, you create a vision for your business and
Note that there’s a difference between having the plan in your head and having it on paper.
A business plan doesn’t have to be a long, drawn-out process. It does need to have these core elements:
Goals and Objectives
Your goals and objectives will define your vision to make money online with affiliate marketing. Your goals should be specific beyond just wanting to make money.
The market analysis part of your plan will take an in-depth look at your competition and your target market.
This is a key part to help you increase your conversion rates because you will have a great understanding of your audience and will be motivated to offer information and products that they need.
This is important and so many businesses fail to do this. You’re in business to make a profit, correct?
Here’s where you figure out what it will take to be profitable. Lay out all of your expenses, and projected expenses. That includes hosting, domain names, office supplies, and advertising.
You’ll then need to project how much you’ll make. Be conservative in your approach.
This section simply outlines what marketing strategies you will use and why. This part of the plan is critical because it will keep you from chasing shiny marketing objects to promote your product.
Having your marketing plan laid out will keep you focused and you will have the data to prove why one marketing channel will be better than others.
2. Build Influence by Helping People
As you start your online business, ask yourself one question every day.
“How can I help people today?”
There are tons of ways to help people online. You can answer questions in forums, ask people what they need help with, have a blog that adds value. These are just a few examples.
If you have fun and you’re willing to put yourself out there, you will be successful.
The more you help people, the more they will like you and trust you. That will also build credibility when it comes to product recommendations.
3. Know SEO
Build it and they will come.
That’s a common mistake people make when you build a website for affiliate marketing. You also have to know how to get people to your website.
Understanding the foundations of SEO will help you create content that will add value and drive the right traffic to your website.
4. You Don’t Have to Sell Everything to Make Money
When picking products to sell, think of your niche and your audience. What can you sell that’s of value to them?
Is there a product on the market that you love and want to share?
Again, you’re all about creating value for others, so your products should do the same.
5. Have a Solid Marketing Approach
If you did your homework in the business plan, you will know everything you need to know about your buyer.
You’ll know how to talk with them, and where they hang out online.
With your marketing plan, don’t feel like you need to be everywhere. Pick 2-3 marketing channels and do them insanely well.
What You Need to Make Money with Affiliate Marketing
If you want to be a successful affiliate marketer, you need to have three qualities to be successful. These are the intangibles that separate the hugely successful internet marketers from the also-rans.
You need to be patient. In any business, there are few overnight successes. And the ones who are overnight successes will say it took them 10 years to get there.
As an online marketer, there will be days when things come up or you just plain ol’ don’t feel like working. That’s the most destructive thought pattern to your business.
To be successful, you need to be consistent and that’s the hardest thing to do. You need to post valuable content daily.
Persistence is defined as “the fact of continuing in an opinion or course of action in spite of difficulty or opposition.”
As with any business, you will have your ups and downs. How you react and respond to the downtimes will determine your success. Will you crumble or will you rise up and meet the challenges at hand?
Your Resource to Help You Create Your Dream Life
Are you ready to make money online with affiliate marketing? Good.
With the right tools, the right plan, and the right mindset, you can take on the world of affiliate marketing and win big.
My mission is to help people make money from home with online marketing, giving them the freedom they’ve always wanted. If you’d like to get started living life on your terms, schedule your strategy session today.