If you’re conversant with online businesses, then you probably would have heard about affiliate marketing
Affiliate marketing is one of the most profitable businesses one can ever venture into. It is a multibillion-dollar industry that has contributed immensely to the growth of the global economy over the years.
According to Statistica, the amount of money spent on affiliate marketing in the US alone is expected to reach over $8.2 billion dollars compared to $5.4 billion in 2017.
In addition, 15% of the total online media advertising revenue comes from affiliate marketing.
That goes to show that there is continual growth in this industry and you too can have a piece of the cake.
Another evidence to show that affiliate marketing is an evergreen business is the result over from Google Trends.
You could see from the above image that there is a growing interest in affiliate marketing over a period of 5 years. Not only that, there has been a significant upward trend on the topic within the same period, showing that it is an evergreen business model. And there’s no better time to join the movement than now.
What Is Affiliate Marketing?
At this stage, you must be wondering what affiliate marketing is all about. We’ll get to that in a jiffy but first, I’ll like to paint a simple scenario.
Have you ever been to a local market where someone tries to lead you to a store where you’ll get whatever you want to buy?
Most times, these people don’t own any shop or any product and their only job is to bring customers to the real shop owners. When they do so, they get a small commission for every successful sale.
So, the more people they bring, the higher their income potential.
If you’ve seen something like this then you’ll most likely understand how affiliate marketing works.
So what is affiliate marketing?
According to Pat Flynn, affiliate marketing is the process of earning a commission by promoting other people’s (or company’s) products. You find a product you like, promote it to others, and earn a piece of the profit for each sale that you make.
This definition is simple and straight to the point but there’s a little bit of technicality involved in setting up a successful affiliate marketing business.
Let’s get to it very quickly.
How Does Affiliate Marketing Work?
As I said earlier, affiliate marketing involves selling other people’s products. It is a symbiotic system that connects 3 categories of people (mostly): the product creators, affiliate networks, and affiliates.
In summary, the entire affiliate system is purely based on leverage and influence. Here’s a look at the whole process at a glance.
The product owners (or vendors) definitely can’t reach the larger market solely and so they make their products available to people or platforms who have audiences that are potential buyers of their products.
The affiliate networks or platforms make money by charging product owners to list their products, and the affiliates make money when their referrals lead to a sale.
It’s a win-win situation for all the parties involved because, at the end of the day, they all get to make money.
As an affiliate, you need to look for a product or service to promote by registering with the product owners or joining an affiliate network. Please note that your request could either be accepted or rejected. If rejected, simply move on to the next product until you get approved.
Once you get approval to promote a product, you then have to create a marketing strategy that helps you generate sales conversion and start sending traffic to the product you’re promoting.
How To Make Money With Affiliate Marketing
All that you need to make money as an affiliate marketer is a unique tracking link for each of the products you’ve been approved to sell. Your tracking link is your weapon without which no money can be made. These links contain tracking codes that allow the product owners to know where a sale originates. It is this link that you will then start promoting.
The links are usually ‘cookied’ for a period of time. What this means is that whenever someone clicks on your affiliate link, the cookie saves the tracking details on their browser for a period of time so even if the sale doesn’t happen instantly, the browser recognizes that the sales originated from your link whenever they decide to buy.
You could insert your affiliate link in blog contents and website banners, YouTube channel, social media profiles, or you insert them in your emails.
In some cases, your tracking code will be in the form of a coupon code and all you need to make money is have people buy the products using your unique coupon code.
Some affiliate platforms require you to reach a minimum threshold before they can release your affiliate commissions or payout. For example, if your minimum affiliate threshold is $100, you will need to sell products whose commission exceeds or amount to $100 before you can withdraw your affiliate earnings. This is only a strategy to make you work harder.
The more affiliate products that are bought through your link, the more money you’ll make. So you really need to push hard if you want to score a lot of affiliate sales.
Benefits of Affiliate Marketing
There are quite a lot of benefits attached to being an affiliate marketer. In this article, we shall take a look at 10 of the benefits, which hopefully will help you make a decision whether or not to venture into it:
The reward system in affiliate marketing is performance-based. The harder or smarter you work, the more results you get. In other words, you’re directly responsible for your own success.
In some instances, product owners organize affiliate contests where they reward top-performing marketers with special prizes based on their overall sales performance. This strategy motivates affiliates to put in their best so they can make more money for themselves and the vendors.
2. Passive Income
If you’ve always dreamed of living the internet lifestyle, then affiliate marketing is the right fit for you. The internet lifestyle thrives on generating passive income, being your own boss, working for lesser hours, and making money while you sleep.
There’s no gainsaying that affiliate marketing is one of the most lucrative online businesses out there. A lot of product creators rely on affiliates to reach a wider audience and generate a lot of sales. Affiliates also make money by promoting other people’s products, so it’s a win-win situation.
It’s refreshing to know that in affiliate marketing, there’s really no limit to the number of products you can promote or the amount of money you can make. There are minimal running costs involved and in most cases, your profits are multiplied by upsells.
4. No Inventory
Unlike e-commerce, you do not need to keep any inventory since you do not own or deal directly with the products. Therefore, you won’t be bothered by associated issues like sourcing of products, logistics involved in the delivery of products, refund requests, product damage, etc.
5. Low Risk
There are so many risks attached to running businesses whether it’s a brick and mortar business or an online business. Some of them include compliance risk, security & fraud risk, operational risk, and economic cum financial risk.
In selling digital products, one of the biggest risks is that of losing your merchant accounts with payment processors such as Paypal and Stripe if there are too many cases of refunds.
All these risks exist because you own products, keep inventory, and probably have staff. So the onus is on you to keep it running. As an affiliate marketer, all of these can never be a source of worry to you because you do not own any product talk less of keeping inventories.
In business, time is of the essence. You’re in a constant race against time and you have to pay attention to all the moving parts of the business such as product creation, customer support, product sourcing and delivery, and a host of other important activities.
Imagine that you don’t have to spend time doing all of these or even spend time chasing deadlines, and all you do is just focus on marketing a finished product or a ready-made service. This is what affiliate marketing brings to the table.
7. Improved SEO
A lot of affiliate marketers rely on SEO to drive sales and generate significant income. A high-ranking piece of content puts your affiliate product in the face of many people which in turn increases your chances of making more sales.
The beauty of this is that you’re not just ranking your pages, you’re boosting your domain authority and this can be very helpful in positioning your website as an authority site.
8. Low Barrier to Entry
Setting up an affiliate marketing business is quite easy. The biggest win is that the startup cost is limited, as in most cases, the only essential costs are attached to setting up a website, building an email list, and running traffic.
Only on very rare cases will you have to pay to join an affiliate network. And that’s because the products involved are elite or high-ticket and the product owners are only looking for marketers with a proven track record.
Affiliate businesses are easy to scale and it doesn’t take time to do that. Once you have set up your marketing apparatus and have launched your campaigns, take your time to see the highest converting products.
After identifying the top performers, you can then focus on sending more traffic to such products, creating more content and sending more emails. You could even hire more hands to do all these or simply replicate the same system with multiple websites so you can easily dominate the niche.
10. Valuable Partnership
The biggest wins from becoming a successful affiliate are the valuable partnerships you build with product vendors and other affiliates. These strategic partnerships open doors to better opportunities and other businesses. and being an affiliate marketer can help you achieve that.
So as an affiliate marketer, it is important that you always give your best when promoting products, especially during launches.
Product owners will notice you as you help them make more money, especially through the leaderboard contests. They may invite you to work with them on their future projects or even offer you bigger commissions.
In addition, they’ll be glad to help you during your own product launches if you decide to go that route. For me, this is the biggest benefit of affiliate marketing because the end goal aside from making money is building influence.
How Much Can You Make Through Affiliate Marketing in Nigeria?
There’s so much money to be made in affiliate marketing. The industry itself is worth over $13 billion and there’s really no limit to the amount of money you can make as an affiliate marketer.
Most super affiliates started out with small earnings which grew over the years. A lot of successful internet marketers started out as affiliate marketers before they began making their own products and creating multi-million dollar product launches.
Established marketers like John Lee Dumas and Pat Flynn who publish their monthly earnings make money in excess of a hundred thousands. It might interest you to know that a large chunk of their income is from affiliate earnings.
So it’s up to you to really decide your income goal before becoming an affiliate marketer. You could start with an income goal of $1000 monthly affiliate revenue and then improve on that.
3 Important Factors To Consider Before Promoting Any Affiliate Offer
That being said, there are several factors that would determine whether or not you have a chance of making big money or becoming a successful affiliate marketer. This boils down to 3 things.
1. Conversion Rate
One of the advantages of promoting products that are already established is that you have enough data to guide your decision. Here, the most important factor is the conversion rate of the product. This is expressed as EPC (Earnings Per Click) on some affiliate networks or Gravity on others. The higher the EPC or gravity, the better.
So before promoting any product, you would do yourself the honour of checking these two metrics to really see if it’s a good fit. If you want to make a lot of money, then you should always promote products with good conversion rates because they’re proven winners.
2. Commission Structure
This is a no brainer. I would promote a product with a bigger commission over one with a lower commission especially if it has a fairly high conversion rate.
This makes sense because the same amount of effort goes into promoting a low commission product and a high omission product. All you have to work on is how you position your offer.
The number of people you’re able to reach at any instance also plays a big part in determining your affiliate income potential.
So, more attention should be focused on growing your target audience. As you do that, you have to also work on creating more content, sending more emails and generating more traffic.
How to Start Affiliate Marketing
Starting an affiliate marketing business is quite easy. Follow this guide step-by-step and you’ll find all the answers you need.
1. Do Your Research
Before starting anything at all, you want to take your time to do thorough research. Your research is the foundation upon which your entire affiliate business is built.
Basically, you’ll need to find out about the type of products you want to promote and the keywords you want to target, the brands you want to associate with, the ideal affiliate networks, and the platforms you want to use.
Also, you want to find out the best traffic sources, determine your promotion strategies, check the level of competition in your proposed niche, and the tools & resources you need to get started.
The reason a lot of affiliates fail is that they skipped this all-important stage and went straight to promoting random products and wasting money on traffic without having a solid plan.
It goes without saying that you must always document the outcome of your research so you can make reference to it during the implementation stage.
Pro Tip: one great way to do research is to pick up to 3 affiliate marketing websites and reverse engineer their entire setup. Or you could pick 3 super affiliates in your desired niche and reverse engineer everything they’re doing.
2. Decide on a Platform
The platform you choose for your affiliate marketing business can make or mar your effort. During the research stage, you must take your time and determine the best platform for promoting your products.
Certain affiliate products are best promoted on social media using social traffic. Promoting such products on other platforms may not really produce great results. In some instances, you could really do well promoting your products on YouTube or on a niche website.
No platform is all-encompassing.
One way to go about is to actually check out the platforms where your type of products are currently being promoted. Check the performance of such platforms, the numbers they’re doing, and the type of content that is used to promote such products.
3. Focus on a Niche
Niche selection is a crucial step in starting an affiliate business. This step must not be overlooked because it’s what helps you identify an unsaturated market with less competition.
Remember, you’re not trying to sell to everybody. That’s why you have to carve a niche for yourself in order to thrive amidst the stiff competition that awaits you. This requires that you focus on a small segment of the larger market.
That’s because a lot of big companies have pockets deep enough to outspend and outrank you for broad keywords.
Instead of targeting the health niche, go for something that’s more narrow. For example, I’d focus on ‘increasing testosterone level in men above 40 years’ rather than a broad niche like ‘male health’.
Hope you get the vibe. The narrower the niche, the better your chances.
4. Find Affiliate Programs
There’s no shortage of options when it comes to finding affiliate programs to join. There are two basic types of affiliate programs.
Affiliate Programs You’ll Find on Affiliate Networks:
In this method, product owners list their affiliate offers on public networks so affiliates can sign up through the network without contacting the product owners.
You’ll find products in virtually any niche you can think of and you can sign up for as many products as you like.
You can also join more than one affiliate network so you can have enough options.
Before joining any affiliate network, check to see if they’re suitable for the kind of products you’re promoting.
For example, an affiliate platform such as CJ.com does a mix of physical and digital products, MoreNiche does physical products and is niche-based, and platforms such as Clickbank, JVZoo, and Warrior+Plus are 100% digital products.
Self-Hosted Affiliate Programs:
These are programs you’ll find basically on the product owners’ website. They’re usually not available on affiliate platforms and you can apply directly through the product’s website.
Getting approval to promote such products could be difficult at times. At times all you need is a good rapport with the product owner or a referral to get approved.
Other times, you need to convince the product owner that you’re capable of getting enough sales to be approved.
Other than that, you’re good to go.
One thing you must really take note of is the terms and conditions for the affiliate program or affiliate network you’re joining. Each platform has its do’s and don’ts.
Failure to follow instructions may hinder your success as an affiliate as you could get banned or risk not getting any commission. So you need to understand the terms and conditions before starting out.
5. Create Great Content
Content is the fuel that powers successful affiliate businesses. Without content, you can’t reach out to your target audience, promote your affiliate products, and make money.
But our real target here is GREAT content and not just content. Great contents are well-researched and in-depth. They are created with the primary intention of helping people make the best (buying) decision.
When it comes to promoting affiliate offers, the two main types of content are:
- Written content (via blogs posts and emails)
- Video content.
So you really have to study the best type of content that would produce your desired result.
The best types of blog and video content are product review and comparison. And they have to be SEO-optimized so they can rank well on search engines.
Some experts recommend that it’s best to promote products you’ve actually used or tested personally. This is because people love it when they hear from a user’s perspective rather than follow bland recommendations.
However, you don’t have to do that if you lack the resources. Just make sure that you understand the product enough to convince someone to buy it.
In addition, you could also use your emails to promote your published videos and blog posts. Alternatively, your emails could serve as your primary means of promoting the products.
In this case, you’ll need to tread carefully when sending out promotional email content so you don’t sound ‘salesy’. Quality pieces of infotaining emails will work perfectly.
6. Drive Traffic to Your Affiliate Site
It’s not enough to just create content. For your content to have the desired impact, it needs to reach your target audience. The only way to ensure that happens is by driving quality traffic to your stuff.
Not all traffic is created the same way. If you want great traffic, you’ve got to work or pay for it.
When it comes to affiliate marketing, you’ll find three common types of traffic. They are traffic from Pay Per Click Ads, Search Engine Optimization (SEO), and Solo Ads.
They can also be broadly categorized as free (or organic) and paid (or inorganic) depending on how the traffic is generated.
Let’s dissect each of them one after the other.
Pay Per Click (PPC):
PPC advertising is an advertising model in which you pay a fee each time your ad is clicked. It’s one of those traffic types you pay to get and so it is inorganic.
If you’re promoting high-end affiliate products with big commissions, then you may want to invest in PPC ads. It helps you get results quickly and the ROI is usually great if done properly.
Examples of this traffic generation method are search engine ads eg Google Ads and Bing Ads. We also have social ads e.g. Facebook, LinkedIn, Twitter, Quora, and Pinterest ads.
Search Engine Optimization (SEO):
Traffic from SEO is also very effective in promoting your affiliate offers. It involves creating content with the intent of ranking for your desired keywords on the first page of search engines. This increases the visibility of your pages when people make their web searches.
If you’re in this business for the long haul, you definitely need to invest time and money in SEO. SEO traffic could also be organic or inorganic depending on the resources available to you.
For example, if you want your pages or keywords to rank faster, you need to do 3 basic things:
- Conduct competitor analysis
- Create helpful content based on what people are looking for
- Do on-page and off-page SEO optimization.
There are other advanced SEO strategies but the 3 above-mentioned are at the core of the entire strategy.
Traffic From Solo Ads:
These are email-based advertisements that involve building an email list from other email list owners.
The way it works is simple: you reach out to a solo ads provider who has a large email list, sends a dedicated email about your promotion to a segment in his email list, and then link back to your opt-in page.
Once people click on your link, they’re captured into your own list and exposed to your offer. Usually, the page they see after opting into your list is either a sales page, a Video Sales Letter (VSL), or a bridge page.
Solo ads are common among list builders whose main promotion strategy is email marketing. The results are usually great if the solo ad source is genuine. Solo ads are sold via dedicated platforms or market places, private websites, Facebook groups, and special skype groups.
Before buying solo ads from anyone, you have to do your due diligence by checking if it’s a genuine source, checking the reviews, and comparing the credentials of different solo ads providers.
One of the downsides of buying solo ads is that you risk the chance of getting your autoresponder account banned for bad leads. But with the above tips, you shouldn’t have any problem.
How To Choose The Best Affiliate Program
It’s time to choose the best affiliate program now that you understand everything about affiliate marketing.
This is the stage where most people get stuck.
The reason is that they can’t find a single platform or program that allows them to promote products easily without some form of restrictions.
Also, they can’t find affiliate products that pay them huge commissions that are commensurate with the amount of effort they put in.
But at the end of today’s training, you will be able to identify the best single affiliate program that will make you a millionaire right here in Nigeria.
Not only that, you will discover affiliate networks where you can find tons and tons of highly profitable affiliate products to promote.
I will also show you a shortcut that helps you start right away. In fact, you will be able to make your first 5 sales within 72 hours of starting.
The aim of this training is to help you get started the right way so that you can start making money as quickly as possible. And I promise to do just that.
Let’s get to it.
5 Challenges You’ll Face as a Nigerian Affiliate Marketer
One of the biggest challenges affiliate marketers or people who are thinking of going into affiliate marketing face is choosing an appropriate program.
The truth is that most affiliate programs are not suitable for Nigerians.
Here are the reasons:
- Most affiliate networks are owned by foreigners and the entire system wasn’t set up to favour Nigerians. As in, they didn’t have us in mind when they were building their platforms.
- Some affiliate networks such as Clickbank and some affiliate programs such as Legendary Marketer don’t allow Nigerians on their platform. And these are some of the best platforms/programs.
- Most affiliate programs pay through PayPal and as you may have known, PayPal doesn’t allow the people in Nigeria to receive payments.
- The listed products on many of these platforms are in foreign currency which makes them costly for Nigerians. Our people find it difficult to pay for products in foreign currency due to the high exchange rate.
- It is not easy to promote affiliate products to foreigners. There are more than enough super-affiliates dominating the affiliate space and competition with them is non-existent.
So which affiliate program can you join without facing all these issues?
There is a single affiliate platform that eliminates all of these challenges. It’s a platform built by a Nigerian, for Nigerians living in Nigeria and the diaspora.
What is that platform called and how can you register with them? We’ll get to that in a jiffy.
First, let us take a look at the various criteria for selecting the best affiliate program.
How To Identify The Best Affiliate Programs
Finding the right affiliate platform or program is not so difficult. Before dabbling into any platform at all, you have to ask yourself certain questions.
These questions are very crucial and if you can answer them correctly, you won’t be having any problem whatsoever.
The following questions will guide you to make the best decision:
- How reliable is the affiliate program?
- Do they have a good reputation?
- Does the program support your country?
- Does their payout arrangement make sense?
- Is their payment option flexible?
- Do they offer sales support?
- Do they have products with high commission?
- Is there any evidence that people are making money?
- Do they have high refund rates?
- Is the platform easy to operate?
If your research shows that the platform satisfies most or all of these conditions, then you’re good to go.
You may go ahead and sign up with them.
The Best Affiliate Marketing Programs for Nigerians
There are lots and lots of affiliate programs at the moment. Some of them are found on affiliate networks such as:
We also have brands that have their own affiliate programs:
Foremost among them are:
What Is The Preferred Affiliate Platform For You As A Beginner?
First off, I will advise you to do away with all of these programs for now.
The simple reason is that these platforms do not meet the above-listed criteria. Most of them are not suitable for Nigerians and the ones that do are plagued with the issue of low commission.
What then is my recommendation?
If you’re looking for an affiliate platform that allows you to promote some of the best programs and make a lot of money, Expertnaire is your best choice.
What is Expertnaire?
Expertnaire is an online platform that allows Experts (those with quality information, knowledge, and expertise) to list and sell their products on the marketplace. And in turn, other digital marketers known as affiliates promote the products and get paid for them.
It is an online digital marketplace dealing mostly with knowledge-based digital products.
And according to the majority, it is gradually becoming Nigeria’s biggest marketplace for digital products (books, tutorials, courses, etc). It is also an affiliate marketing platform.
In fact, a lot of Nigerian affiliate marketers say it is the Clickbank of Nigeria. And Clickbank is the biggest affiliate platform in the world.
One good thing about Expertnaire is that they personally vet all products so the issue of selling a substandard product or a product that doesn’t work is practically non-existent. Meaning that you can sell with confidence.
The platform was created by Toyin Omotosho who is an internet marketer par excellence and it has helped a lot of people to launch their online businesses. Not only that, the platform has helped many people quit their jobs and become their own bosses.
There’s no way you would join Expertnaire and you won’t make money.
The only way you won’t make money is if you do not take any action.
That being said, here are other benefits of becoming an affiliate on Expertnaire:
- They pay the biggest commissions: you could get commissions of up to 50% on some products. Say you sell a product of 50k you get 25k, so in order to make 100k a month, all you have to do is sell 4 of those products successfully.
- Expertnaire affiliates and vendors are paid every Friday based on the payout available.
- Operating an affiliate account is also super flexible.
- They have the lowest charges: Expertnaire takes only 10% on sales of any product. Please note that this fee doesn’t affect the affiliates’ commission. It’s only charged from the vendor’s payout.
- Expertnaire has a solid product guarantee: The majority of the Listed products are also backed by a 30-day no-questions-asked-money-back guarantee.
- Ease Of Payments: Customers can make payments via Paystack, USSD, and Bank deposit/transfer.
- Affiliates also receive their payments directly into the accounts they provide on payday.
- Getting started is easy: all you have to do is sign up to Expertnaire, find a product to promote, look for a hungry audience, pitch your idea, cash out 😜
- Most of the products have email swipes. Email swipes are ready-made marketing messages that you can make use of immediately. Just tweak and send or send like that.
There are a lot more benefits but let’s stop here for now.
As you can see, everything about the platform is built to help you succeed.
How To Register On Expertnaire
Now here is the most important part and I want you to pay careful attention.
To open an account with Expernaire, follow this link.
That will lead you to a sign-up page.
Please enter your details and click on ‘Register’ as shown in the image below.
Then, you will be directed to a page where you can complete your registration.
Please note that it costs ₦10,000 to register as an affiliate. And that is payable annually.
Once you complete your payment, you will be redirected to a page with all the information you need to get started.
An email will also be sent to your email address with these details.
Make sure you follow the instructions till you get access to your dashboard.
Please note that it usually takes between 24 – 48 hrs to set up your affiliate dashboard.
Don’t panic, everything will be sorted.
Once you’re in the dashboard, you’ll find the products and the affiliate links on the product marketplace.
Expertnaire has an onboarding tutorial that walks you around and shows you how to obtain and use your affiliate links.
Now you might be wondering, why pay ₦10,000 to become an affiliate?
Remember I told you that affiliate marketing is a business and it requires small investments?
This is one of the investments you need to make.
Trust me, you’ll recover your money back as soon as you make your first few affiliate sales.
Now, I’m going to share with you a quick start guide on how to make your first 2 – 5 sales. It was prepared by the CEO of Expertnaire himself.
Make sure you read it later.
Even if you borrowed the money to sign up for this program, these quick sales will help you repay your debts in no time.
Imagine selling 5 products with a commission of ₦10,000 each.
That’s ₦50,000 in pure profit.
And there are many products like that.
Here’s the link to download the quick start guide, as promised.
Make sure you read it. It’s about 20 pages or thereabout.
Here’s the link to sign up on the Expertnaire platform for affiliate marketers again.
What Does It Take To Be A Successful Affiliate Marketer?
Let’s be clear on one thing. Not all affiliate marketers are or will be successful. A large percentage of affiliates quit months into starting the business.
Because they lack the basic understanding of how the business works, they’re too lazy to do the hard work, they started without a clear strategy or goal, they do not treat it as a business, or because they’re too hasty to get results.
If you want to be a successful affiliate marketer, you must be willing to put certain systems in place as well as deploy strategies which I’m going to highlight below.
Here are 10 surefire ways to achieve success in your affiliate marketing business.
1. Promote High-Ticket Products
High-ticket products are products that are a bit expensive. They are usually in the range of $297 – $1997 and they offer between 40 – 50% commission. You’ll be smiling to the bank if you can get between 10 to 20 high ticket sales monthly.
You do the math.
But before jumping on any high-ticket offer, you need to check if they have high EPCs (Earning Per Click) and low refund rates. Those are indicators of products with good sales conversions.
One thing that’s worth mentioning about high-ticket products is that they’re usually sold via webinars. What this means is that the product owners have already done the heavy lifting for you because they’re usually good at closing sales.
All you have to do is send people to those webinars over and over again, and then wait for the magic to happen.
But this is not to say that you shouldn’t promote high volume, low ticket offers. A little mix of both will help you hit your income projections quickly.
2. Promote Products With Recurring Commissions
The best kinds of affiliate offers are subscription-based. The commission for such products is usually recurring so for as long as a buyer pays to use the service, you get your commission. Software generally falls into this category. Examples are web applications, page builders, and web hosting
The really good thing about promoting subscription products is that it guarantees income every month so you can almost predict your commission from each referral. The trick here is to look for products that people use for their day-to-day activities or businesses because such products are difficult to cancel.
3. Create Irresistible Offers
If you’re into affiliate marketing and you’re not creating offers, you’re surely leaving money on the table. That’s because products alone don’t guarantee the sale, irresistible offers do.
What is an irresistible offer?
According to Personalbrand.com, an irresistible offer is “the strategic structuring of your products and/or services where the value-to-cost ratio is value-heavy.” It is like a business proposal that is too good to turn down.
It’s important you know that your offer is NOT your main product or service. It is the overall outlook of what you promise to give your potential customers or how your ideal customers perceive your product or service.
A lot of people make the mistake of creating an offer similar to that of the product owners. On the contrary, your offer has to be something unique; something that promises an additional value different from what the product owner currently has.
As an affiliate, your approach to creating an offer should look like this:
- Analyze the product.
- Look for loopholes.
- Create an additional value that would cater to this loophole.
- Sweeten the deal with your additional offer.
- Add your own scarcity
Relying on a single affiliate platform or promoting a single product is a recipe for failure. As a matter of fact, about 71% of publishers (affiliate marketers) belong to three or more networks.
Therefore, expending all your energy on a single affiliate network or promoting a single product is like putting all your eggs in a single basket. That’s too risky because you never can tell what might happen.
Product owners may decide to take the product off the market, conversion rates could drop as a result of increased competition, and your account could be limited without prior notice, etc.
The reasonable thing to do is to diversify. Promote different high-converting products within your niche, sign up with different affiliate marketing companies, etc.
5. Do Not Depend on a Single Traffic Source
Over-dependence on one traffic source could kill your business quickly. All traffic sources have their own unique advantages and disadvantages and relying on one type is like creating a pathway to failure because, then, you’re only boxing yourself into a corner.
For example, marketers who rely on Facebook traffic might have to deal with frequent traffic disruption due to account bans and limits. Sounds familiar?
Moving on, you have to realize that some traffic sources are more suitable for certain offers than others. So if you really want to make a huge impact, you should tap into different traffic sources and use the one that suits the offer you’re promoting.
6. Create a Buyer-Ready Audience
One thing that really helps affiliate marketers in terms of sales is their ability to shape the mindset of their target audience.
A lot of people have the wrong orientation about online businesses. They are always looking for the easy way out. They do not want to invest in their online education or spending money to acquire helpful tools that would help them get things done easily.
You must get it right at the point of building your audience or you would get stuck with a bunch of freebie seekers who never want to invest in their business.
Your duty is to make it clear to them that every free thing comes at a cost and that if they want to grow, making financial investments is inevitable. When you create a buyer-ready audience, you would have little or no issues with making affiliate sales.
7. Create a Niche Website
Again, if you’re looking to increase your profit as an affiliate marketer, you should consider creating a niche site.
As SmartBlogger puts it, a niche website is one that caters to a small segment of a large market and focuses on a common, specific interest.
A niche website gives you credibility, as it positions you as an expert in that niche. People would trust your judgement and follow your recommendation because they see you as a specialist in that niche.
It also boosts your SEO efforts, helping you to rank for your keywords of interest.
For you to outrank your competitors, you have to invest in producing quality pieces of content, pay attention to keyword research, and employ proven SEO strategies that help you rank.
One of the things that separate successful affiliate marketers from others is their ability to write actionable content that clearly communicates their offer and stimulates their blog readers to buy the products.
Your website content must always be relevant to your target audience and also to the affiliate products you’re promoting. For example, it doesn’t make sense to promote beauty products on a tech blog.
8. Leverage Email Marketing
The importance of using email marketing for promoting offers can never be over-emphasized. Whether you’re promoting your own product or affiliate products, sending emails can really help to boost your sales conversion in manifolds.
About 59 percent of B2B marketers have revealed that email is their most effective channel for generating revenue. Again, email marketing ROI is the highest when compared to other channels such as social media.
The ROI for email marketing is as high as 4400%. What this means is that for every single dollar you spend on email marketing, you should expect to get a potential return of $44.
Love it or hate it, the fact still remains that email is the most important channel for promoting affiliate offers.
9. Be Consistent
This is a no brainer. You need consistency to succeed in any business you venture into. It takes time to make money online and as an affiliate marketer, you’re not exempted.
You need to put in the work and have a solid plan in place. Here are some of the things you should be doing regularly:
- Build a personal brand around your affiliate business
- Build the KLT (Know, Like, Trust) factor
- Continue growing your email list
- Keep creating useful content
- Never stop improving your SEO
- Keep sending traffic to your affiliate offers
- Be on the lookout for new offers.
Someday soon, you’ll start earning top money from your marketing efforts. But you need to give it time and don’t quit too soon.
10. Position Yourself as a Trusted Consultant
This is a no-fail strategy that gets people to buy from you all the time. Once you make them see you as a trusted consultant, they’ll trust your judgment and follow your recommendation.
And that’s largely because you’re not trying to sell them stuff they don’t need.
That’s why product review websites are top performers when it comes to affiliate sales conversions. A lot of people rely on product reviews to make a buying decision.
Your ability to come across who has their best interest at heart through the review will help you convince more people.
You’re basically recommending products you know will help them based on your experience or careful assessment. You must be honest enough to make helpful comparisons and avoid selling products that are not helpful.
Now that you’ve learnt everything there is to know about affiliate marketing, it would really help to get started immediately.
Remember, there isn’t any income guarantee; you need to follow a proven system, put in the work, and trust the process.