Affiliate marketing is one of Digital Marketing way to make money. Good money. And, yes, you can make money through affiliate marketing while you are in sleep.
In the article, I’m here to guide about how we could generate more passive income by utilising affiliate marketing. If you’re new into it, I believe the post will be helpful for you. Else, let’s explore and discuss further on the said topic.
Before we get in too deep, let’s start with a very brief definition.
What Is Affiliate Marketing?
Affiliate marketing is when an online retailer pays us a commission for traffic or sales which we had generated from our referrals. It’s sort of like we earning a commission by promoting our own/ other company/ people’s products through websites.
How to make money through Affiliate Marketing?
There are simple 3 step process as following:-
- Recommend a product or service to our followers
- Followers purchase the product or service via our affiliate link
- We get paid a commission of sales made via our affiliate link
(depends on which basis model like CPA, CPC, CPM, etc)
What is the difference?
Cost Per Mille (CPM)– Media company charge advertisers on impressions, which counted in 1000.
Cost Per Click (CPC)– Websites charge advertisers on each click by users on the ads.
Cost Per Action (CPA)– Media companies charge advertisers when users click and do SPECIFIC action on the ad.
How to start with Affiliate Marketing
Believe that now you shall know the basic definition about affiliate marketing and how it’s work, let’s discuss how shall we start with affiliate marketing.
Here are 7 steps which you shall refer to if you really decided to start to make passive income by affiliate marketing:-
1. Find Your own Niche
Selecting the right niche will give focus to your business and also you with content. Besides that, it’ll also make it easier for you to create targeted marketing campaigns in order to get the right audience.
How to choose the right niche? Here are some guideline:-
- What am I passionate about? Typically, the things we’re passionate about are things we’re usually knowledgeable about, this could be a beneficial point and much easier to create valuable content.
- Is the topic big enough? Is there enough topic to create 100 blog posts? Else, you may struggle with search engine optimization (SEO).
- Is there money in this niche? Money no doubt isn’t everything. However, if you’re interested in the topic which one is a money maker and another is not, you may choose a money maker.
2. Build a Website
Once you’ve found your profitable and right niche, you’re ready to build a website or blog. WPBeginner has a great guide to help you to choose the right website platform and it’s easy for the entire process.
While creating website/ blog, there are several pages which you shall consider as following:-
- About us: Make it personable and let people get to know you.
- Contact: This should include all contact information that you want to share with your readers, advertisers, or potential partners.
- Terms of Service: This is a legal page limiting your liability in the event of misuse of information or services provided on your site. It also details user responsibilities regarding copyrights and trademarks.
- Custom 404 Page: A custom 404 page goes a long way toward improving the user experience.
- Advertise: If you plan on selling on-site ads, include a page for advertisers with information about available spots, monthly views, audience demographics, and a contact form.
3. Create Valuable Content
After the framework of your website is ready, you shall start to create content.
Some affiliate network or affiliate program requires you to have established content, site traffic, monthly site views for their reference before they accept you as an affiliate. Every affiliate network has different requirements. Thus, to be sure is about reading the requirements for the specific network and program before you consider to apply as an affiliate.
However, this doesn’t mean you have to create 100 contents before you want to apply as an affiliate marketer. You shall have at least 5 valuable content or posts which had been ready on your site.
4. Grow your own Email List
Email is one of prior communication channels for marketing. And, it still carries a completely wild $38 return for every $1 spent.
What does this mean to you? That it’s 3800% worth it to invest some time and money into growing your email list.
One of the easiest ways to grow your email list is by adding a popup to your site:
If you never do email marketing before, no worry. On the next topic, we will discuss more about what is email marketing.
5. Choose Affiliate Products to Promote
Now, it’s time to choose affiliate products to promote. Of course, choose the product which fit to your own niche and it’s related to your created content.
Promote products you already use
Make a list of all of the products and services that you use and search via Google to find their affiliate programs. Then, write reviews and plug in the affiliate links.
Promote products which fill needs
You may get advice from those who are interested in your niche, what is the problem which they are facing, and provide them with a solution. Find the product which can help them out. If you find the products are good, you can choose to be affiliated and recommend the product to them. Remember, one of best ever ways to get the right audience is about whether you could provide the valuable solution which they are looking for. If the solutions are work, they will be willing to pay for it.
Promote products from others in your niche
You may also check out Instagram, Twitter, Pinterest, Facebook to look at #affiliate and #ad to see which product is other affiliates promoting at the moment.
6. Join an Affiliate Marketing Network
Affiliate marketing networks are essentially online marketplaces where retailers list their products and affiliates can find products to sell. The marketing network acts as a middleman. As the affiliate, you should never have to pay to sign up for an affiliate marketing network.
Here are a few of the more popular affiliate networks out there, but there are so many more than this: