Now more than ever, people are looking for ways to start online businesses and give up the 9-to-5 grind. One of the most potentially lucrative, easiest, and popular ways to make money online is with affiliate marketing.
Affiliate Marketing Explained
Affiliate marketing involves promoting a program that doesn’t require a physical inventory. You promote the program for a vendor, and the vendor handles fulfillment. You earn commission on your sale. The sales are tracked through affiliate links, which place cookies in the buyer’s web browser.
Here’s Everything You Need To Find Awesome Affiliate Programs To Promote
Picking programs to promote is very important and involves a process. You may think you can sell anything to anyone, but your goals and your industry are important considerations.
Here is a checklist of things you’ll need to do to choose the right affiliate programs to promote.
- Figure out your niche. You need to know what industry you’re looking to promote within. This is the perfect opportunity to tap into your passions. You’ll be best promoting programs you actually develop a passion for. That passion will radiate through your efforts, from talking points to marketing copies. The things you’re passionate about will also be the easiest for you to stay on top of. Just because affiliate marketing is work doesn’t mean it needs to feel tedious.
- Consider your audience. Think about the people you anticipate buying the types of programs you’re interested in selling. Do as much research as possible about the personas with buying power.
- Brainstorm ideas for your niche audience. What are the problems that they need solved? What programs can bring value to them? Check out the programs that are out there and consider every angle you can think of.
- Research and build. This is a one-two step that you’ll constantly repeat. You want to know everything you can about your niche audience while also building rapport with them. Not only are you working to become a meeting place for people in your niche audience, you are also visiting their other haunts to learn about their challenges and pain points. Talk to your audience when and where possible. Send out surveys, start a message board or focus group. Do whatever is in your power to hear from them firsthand.
- Determine opportunity. Take a deep look at the information and details you have gathered and determine and identify any genuine opportunities. Don’t be afraid if it takes a few returns to the drawing board before you get it right.
Got all that? What’s next?
Choose Your Awesome Affiliate Program
There are so many affiliate programs. If you go into it looking for the “perfect” program, you may find yourself disappointed. The best thing you can do is choose something awesome. But how do you determine an awesome program?
- Does it solve a problem or fill a need? Figure out what the program does for your audience. If it doesn’t solve a problem or fill a need, then the program likely will not fulfill a need over the long term.
- Does it solve your own needs? A program that fulfills your needs as a seller plays to your passions. It’s a system you’re willing to put your efforts into selling long enough to make a consistent income. It will help grow your brand and business.
Different Types of Programs You Can Choose From
Understanding what you can do within the scope of affiliate marketing will also help you understand what to expect.
Here are some different types of programs as well as key differences in selling them.
- Low Ticket vs. High Ticket Programs
Low ticket programs have a low risk factor and a low price point. You’ll have to sell more of this program to make a sustainable income, while arguably the same amount of effort is expended in the process. The higher the price on high-ticket programs, the riskier they are in the eyes of your audience. You’ll need extremely tight-knit relationships with your audience to communicate the value of these programs and ultimately make sales.
- One Sale vs. Recurring Commissions: In some industries, you’ll have the opportunity to promote programs that require a subscription and will result in recurring commissions. While it may seem like more money in the long run, it’s also more work to retain your customers long enough to get the maximum value out of the sale.
- Evergreen vs. Seasonal: While some programs can be useful year round, others might serve a certain purpose that won’t last. These can involve a lot of ramp up in slow seasons, or a lot of outreach to find new clientele.
As we’ve mentioned, there’s no one perfect program out there waiting to make you rich. There are, however, hundreds of valuable programs that will serve your audience, help grow your business, and provide you with some income to enjoy. Make sure to keep listening to your audience, keep watching the trends, and keep your business goals in mind, and you’ll find that affiliate marketing can be a very lucrative way for you to go.
This is a guest post kindly contributed by Giving Assistant. Giving Assistant is B Corp certified cashback website that helps users save money on their every purchase. Users can either keep the cashback or give it to any of the 1.2 million non profit and charitable organizations.