Did you know that influencer marketing is huge right now? As a matter of fact, it’s so huge that it is expected to surpass $15 billion in 2022. One of the reasons influencer marketing is so popular nowadays is Kylie Jenner’s Instagram account. Ever since she raised the bar even higher, more and more people have opted to do the same, or at least something similar. Affiliate marketing is only one of the ways this can be done, and you don’t even have to be an influencer to reap the fruit of this form of marketing. If you’ve been up-to-date with the latest trends, then the term “affiliate marketing” is not new to you. But what exactly is affiliate marketing, how can you excel at it, and finally, how can you jump on this bandwagon?
First of all, what is affiliate marketing?
To put it simply, affiliate marketing is promoting other companies’ products in return for a small commission that you get from each sale. In order to start with affiliate marketing, it would be necessary to find an affiliate program or network that you are interested in. Once you get accepted, begin creating content and add custom links the program provides. These links are unique and will track when one of your users makes a purchase. As a return, you will receive a small commission (although the commission varies from company to company and from product to product). When you register for an affiliate network or an individual program, you will see that they are generally divided into separate categories to make the selection process easier. Once you get approved, you can promote your affiliate links on your social media platforms. The network sends you a payment when you reach the minimum payment level. It’s also important to note that the payment methods vary and can be conducted via PayPal, bank transfers and even checks.
How to start with affiliate marketing?
In order to start with affiliate marketing, you would first have to listen, watch and learn about affiliate marketing as much as you want to. You should also understand your niche and what product you wish to do affiliate marketing for. You can choose among hundreds of different products. If you’re an avid gambler, for example, you can always try and see affiliate programs for casinos you will benefit from and use for your own gambling sessions. There are plenty of tools and strategies available online to get the latest trends and tactics that affiliate marketers use. There are also loads of communities to join and even podcasts that you can follow to get the knowledge you need.
Quality always beats quantity
Once you have your affiliate marketing program set up, it’s time to start thinking about the leads that you will attract. Contrary to popular belief, quality is always more important. One of the biggest mistakes affiliate marketers make is ignoring the quality of the people who click on the product. Sometimes it’s good to generate hundreds of clicks and a potential commission. Still, it’s always more important than the people who click on the product actually buy it. Once that is done, the commission is transferred to your account. Most brands pay affiliates based on conversions, not clicks. It’s also important to know that automated bots are prevalent nowadays, which is another reason why the number of clicks is not relevant anymore.
Your audience should always come first
Once you start with affiliate marketing, it would be best to focus on targeted outreach among the communities that are most likely to convert. This means you should engage with audiences that have similar interests to you or perhaps have problems that the product you are advertising can solve. Social networks are crucial here: follow the discussions on Twitter, Facebook, Quora, and Reddit to place your product in the most natural way. Always post your affiliate link and provide the readers with a solution to their problem.
Commissions are not the most important
The most successful affiliate marketers know this, and they never chase high commission rates. Instead, they focus on promoting brands with strong conversion rates. Let’s take an example of an affiliate program that pays $500 per commission. This might sound interesting, but it won’t make much sense if the conversion rate is, for instance, 0.02%. Choosing an affiliate program that pays less but has a bigger conversion will likely generate a steady revenue stream.
Track your performance
In order to be successful, you must know what is working and what not so that you know if there is something you should change in your approach. In order to best understand the performance of your affiliate links, you should use the tools that your affiliate network or influencer monetization platform offers you. This way, you will know what your followers are responding to. When you get to the next level, you will also be able to see how your website, email marketing platform, social media, and site analytics perform, and you will get insight into how practical your activities are.
Follow the rules
However, there are specific rules that you should always have in mind. Bear in mind that the companies you promote have been working very hard to build their brand, so you must stay on brand. Never make claims about a brand that is untrue; focus on the aspects you have something good to say about. Also, don’t register any domain names or build social media and landing pages using the company’s trademark. Finally, know that using paid search advertising with an affiliate link is never good.
Conclusion
Affiliate marketing might be one of the most exciting ways to do marketing at the moment, but you should know that it’s not a get-rick-quickly scheme. In order to be a good affiliate marketer, you will have to be committed and consistent to earn trust and build an affiliate business. When you post your affiliate link, the search engines will index your content and will continue to perform well and earn you commissions over time. You should always start small – baby steps are significant here. Get to know your audience and bring value to the conversation. Once your followers realize that you’re speaking your truth and sharing your own positive experiences of the product, they will believe you and click on your affiliate link. That’s how it starts.