Affiliate marketing is a very sophisticated money making machine. To further add to the complexity of it, there are tons of merchants, offers and ways to analyze your success. In order to be successful in this aggressive niche you must make sure to master these 3 steps:
Factor #1: Visitors / Traffic: In order to make money from affiliate marketing, you need to convert a visitor to your site to a paying customer for your merchant partner(s). Obviously, the more visitors you have (i.e., the greater the traffic to your site), the more chances you have to make an affiliate referral. If your website doesn’t have much traffic to speak of, there’s probably not a big opportunity for you now in affiliate marketing. Focus on producing high quality content, building some links, and getting a recurring stream of visitors to your site. But ff you have a website that is already attracting a significant number of visitors from referring sites, organic search, and direct visits, affiliate marketing could be a logical way to monetize.
Factor #2: Click Rate: This is where we put the “marketing” in affiliate marketing. It’s up to you as the affiliate marketer to make sure that your audience sees the affiliate links and offers you have on your site. You can’t simply throw them into the right sidebar and hope that your audience seeks them out and clicks on them. There’s a great deal that you can do to increase the likelihood that your visitors click on the links and get in front of the affiliate offer.
Factor #3: Conversion Rate: Conversion rate refers to the percentage of referrals sent who ultimately complete the desired action (e.g., purchase something from Amazon). Part of the affiliate marketing game involves picking out merchant partners and products to promote. If you’re promoting a crap product, you can probably send some traffic through the affiliate link by doing a good job of marketing it to your audience. But once they get to the merchant site and are disappointed in what they see, they’re probably going to abandon. If you’re promoting a quality product that you think delivers great value to your audience, they’re much more likely to complete the purchase once they’ve clicked.
Just because a commission is higher than another doesn't mean it is the better offer. You can see from above that quality plays an important role in being a successful affiliate marketer.
Are you ready to put in the hard work to be successful in this lucrative industry?
Image Source: joe-manna on Flickr
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