Did you know that affiliate marketing represents one of the biggest industries in the US? One valued at more than $5 billion? Or, that it encompasses 15 percent of all revenue from digital marketing?
What’s more, affiliate marketing is expected to continue growing through 2021 reaching an estimated value of $6.8 billion. These stats may surprise you, especially if you’re still making sense of affiliate marketing.
But they shouldn’t. Not only will buyer numbers continue to increase, but more big-name brands will also get in on the action.
Affiliate marketing will expand in terms of the number of products sold and the ways to market those products, too.
What does all of this mean for you? It’s time to get in on a piece of the affiliate marketing action. Read on for a full breakdown of how it works, and why it represents one of the best ways to earn passive income.
Making Sense of Affiliate Marketing
If you’ve got a blog, whether as a company or an individual, and you’re looking for a way to monetize your site, affiliate marketing offers a convenient solution. How does it work?
Online retailers make agreements with blog owners to pay commissions to them each time they drive sales and traffic to their site via referrals.
If you prove successful redirecting your readers to e-commerce sites that you’ve made an affiliate marketing agreement with, expect to see some serious revenue generated.
Bloggers employ a variety of techniques to drive more people to the e-commerce that they’re affiliated with.
These include everything from posts highlighting individual products and services to articles on related topics interwoven with product information. Let’s take a quick look at how each approach works.
The Direct Approach to Affiliate Marketing
Depending on the type of website that you have and your relationship to your readers, you may wish to pursue a blatant form of affiliate marketing. This involves discussing an e-commerce company’s product(s) throughout your post.
In such a post, you should include the following information:
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- The capabilities of a product or service
- The benefits of a product or service
- The deeper benefits of utilizing such a product or service
- Care instructions for products
- The cost of specific products or services
- And more
This information should be presented in a conversational, educational format that encourages readers to take the next step by clicking on one of your affiliate links. Besides affiliate links in your text, you may also use banner ads or buttons.
The objective remains to get the reader to your affiliate’s site so they make a purchase. Find out more about the best ways to monetize your website through affiliate marketing.
The Subtle Approach to Affiliate Marketing
Besides an obvious approach, you can also take a more subtle tactic. This involves writing about subjects loosely related to the products that you’re attempting to sell.
For example, you might have a website for coffee connoisseurs that discusses everything from the best way to roast beans to the number one way to brew them into a delectable morning beverage.
As a result, your blog would be populated by articles expounding on the various aspects of coffee, from the best beans to the best coffee grinders. Then, it’s simply a matter of embedding ads and links to some of the amazing products you mention.
And while you’re at it, why not throw in a few banner ads or affiliate links for high-quality coffee mugs? You get the point.
Generating Revenue as an Affiliate Marketer
Although it might seem incomprehensible at first, an affiliate marketing business can prove highly lucrative. Especially when it’s set up correctly.
Your earnings are based on affiliate commissions from the company or companies that you work with. And you get paid through an affiliate marketing network or programs such as Awin or ShareASale.
Every time one of your readers clicks on a link, ad, or image to buy a product that you’ve mentioned or showcased, the affiliate that you work with will be notified. Then, you’ll receive a commission for directing that customer to their site.
How fast can you make money with affiliate marketing? While the money starts rolling in as soon as readers click on your links, patience remains a virtue. After all, building traffic takes time.
That’s why so many affiliate marketing newbies give up in three months or less. What they fail to realize is that you’ve got to put in a little time and elbow grease before your efforts start paying off. Here’s how you should concentrate your efforts.
Choosing Products That You Love
First and foremost, you need to choose the products that you promote carefully. After all, your readers want authentic information about various products and services.
Here’s a general rule of thumb. If you can’t persuade yourself of a product’s value, then don’t even try to convince your readers. Instead, always opt for products that you feel passionate about. It’ll shine through in your writing and result in sales.
When you choose products that you love, you’ll also have plenty to say about them. This helps immensely with our second step to affiliate marketing success, creating quality content.
Creating Quality Content That Educates Your Readers
This content should be written in a conversational tone that’s both authentic and useful. In other words, leave glib marketing lingo at the door. As you start writing great blog posts, make sure they educate your audience.
And cut out anything that verges on sounding like a used car salesperson. Your readers want handy, relevant information. They don’t want to feel scammed or suckered.
(That’s why it’s also important to disclose upfront that your site contains affiliate links.)
Besides providing excellent information about products and services you love, make sure that you’re following the best practices in SEO. What’s a great way to do this?
Through a technique known as skyscraping.
After you know which keywords and phrases you’d like to use, research the best articles related to these terms. Then, create better versions, covering areas and providing resources that other authors missed.
Creating a Steady Stream of Passive Income Online
Are you ready to take your blog to the next level? Whether you’re a small business owner or blogger, you can bring in passive income through affiliate marketing. But to avoid wasting time, you have to know how to do it right.
Making sense of affiliate marketing is easy with the tips above. But if you’re still struggling with more basic questions, such as how to create a blog or how to navigate WordPress hosting, don’t sweat it! We’ve got you covered, too.
Browse our site now for the tips you need to launch an effective, compelling blog — no matter your niche or ultimate revenue goals.