Diversify your earnings through affiliate marketing
If you're looking to diversify your passive income stream Here's all you have to learn about managing a profitable affiliate program. Just follow these 4 steps.
If you're at the point within your company that you're looking to diversify your income -but without creating yet another product on the internet (for right now) Then we've just the solution.
Enter... affiliate marketing.
If you're not aware of how to tap the power of affiliate marketing (yet) You're getting a real treat right now.
This guide will show you how to create an affiliate program that is successful to make the most of your existing networks and your target market to increase the bottom line of your business.
However, before that, we must first get started. Let's quickly cover the benefits from joining an affiliate marketing program.
What exactly is affiliate marketing and what are the reasons I should use it?
Pat Flynn , the founder of Smart Passive Income and one of the top affiliate marketing entrepreneurs, defines affiliate marketing as
"Affiliate marketing is the method that earns a fee through promoting a service or product. Find a product to promote it others and get an amount of profit for each sale that you generate."
Thus, the affiliate brand (the retailer) gives you (the publisher) the commission per occasion you generate sales for the seller (in terms of getting the merchant a client).
If you want to see the process of affiliate marketing, check out this chart of affiliate marketing :
Are you wondering how much profit is in the pie portion is?
Very large.
In fact, well-crafted affiliate marketing programs can give the user a stunning 30% increase in income .
Especially if you partner with programs that offer high affiliate commissions with the payout based on cost per step (CPA) as opposed to cost per click (CPM).
For instance, take the web hosting business Bluehost as an example.
Expert in blogging and a successful entrepreneur, Adam Enfroy, shares the secrets to earning upwards of $130 per sale by selling affiliate products from Bluehost.
When you use affiliate services such as Bluehost You are paid per transaction -- for each sale transaction you instigate instead of impressions that you generate.
From an annual revenue perspective, you can earn anywhere from $20k to seven figures every year.
Pretty lucrative for passive income, no?
There's no reason to wonder if affiliate marketing spending across the U.S. alone is expected to reach $8.2 billion by 2022 , which is triple what affiliate marketing businesses accounted for 10 years prior.
If you're wondering about what kind of goods the affiliate marketing industry is promoting A significant 81.4 percent of affiliates advertise B2C products and services.
Apart from the type of product, however it is the most important takeaway:
Joining the best affiliate programs is an easy option to earn money online. And enough to certainly be worth the effort of incorporating an affiliate program into your online marketing plan.
Of course, there's an ideal way to set yourself up for a successful affiliate marketing campaign.
How to accomplish it in four straightforward steps.
4 steps for running a successful affiliate program
#1. Find the best affiliates for your specific brand
The most significant element in establishing an affiliate program that is successful is collaborating with the correct affiliate partner.
That means choosing carefully and promoting products, services, and brands that you can authentically vouch for.
It is crucial to be authentic nowadays that 85 percent customers claim that authenticity is a major factor when they decide what brands they prefer and believe in and.
In addition, authenticity is the thing your targeted audience wants and craves, but it also impacts your bottom line.
If you don't partner with the best affiliates for your brand this could cost you a pretty penny.
In fact, this is one of Pat Flynn's early experiences when he was the first to sign a contract with affiliate partners.
He committed a $300 mistake when he promoted an affiliate website using items he didn't know.
The consequence? The result was that he appeared to be unauthentic, which was harshly made clear in his flat zero% commission rates.
"I have spent $300 on about a dozen clicks, and those clicks were worth nothing in sales... My $300 error was a wake-up call," says Pat.
"Affiliate marketing is about fostering real-time relationships over time with people you trust, products you like, and organizations who share your values."
We couldn't have said it better. In essence, you should join affiliate companies that align with you as a brand as well as your target audience. Anything less than that, and whatever temporary gains you could make can be lost when your customers' confidence deteriorates.
#2. Create high-quality content to include the affiliate link
As with everything you post under the umbrella of your content marketing It is crucial to produce valuable and quality content that includes your affiliate products.
It's equally important to share your affiliate status with your viewers. There are different rules for each channel as well as formats to follow, but I highly recommend checking out the FTC guidelines for those who reside living in the U.S. to avoid potential trouble down the road.
One of the most effective ways to create high-quality content for affiliate products is publishing tutorials such as this tutorial created by a successful author Pete McPherson.
If you have a thriving blog, create an informative article that helps your target reader reach a specific goal.
A great way to incorporate this type of affiliate blogging is to explain why and how you use affiliate products to achieve your own targets.
This is exactly how Becky does in her Why I host my online classes and memberships on the article.
Becky uses her blogging skills and publishes affiliate links on her blog posts as well as her. Thoughtific reviews of products.
It's also clear that she clearly discloses that they're affiliate links a little further down the post:
Beyond product reviews, you can also diversify your formats for content. Here's Becky's high-quality -- authentic product review in video format on her YouTube channel .
A great place to add your affiliate link can be in the YouTube description for your video, as the following:
Pro tip: To increase your SEO and visibility in YouTube's search engine, include the most searched-for keywords in your description, as well. In addition, by increasing the searchability of your affiliate video will increase your conversion rates.
If Becky's formats for content aren't diverse enough, yet another excellent place to advertise affiliate links is your website, similar to Becky's Tools I use page.
If it's a blog post, podcast, WordPress blog article or a YouTube videos, the goal here is to integrate your affiliate links and mentions into high-quality content that's authentic and relevant to your intended users.
The people who trust you are likely to be an expert on your subject, which is why whenever you offer a product recommendation, you must ensure that your affiliate's products are valuable to your target audience.
That's why affiliate links and high-quality content can be compared to avocado and toast.
According to a recent trend the content industry is still the king as bloggers and content sites earning nearly a 40% of commissions paid to publishers .
If you're wondering what's happening on a broader scale, there's an emerging trend that's taking shape where cashback and loyalty affiliates are taking up larger pieces part of.
The most important thing to remember is to include your affiliate links inside content pieces as well as formats that work seamlessly in your overall marketing strategy.
Whether you're part of an affiliate network, promoting Amazon products or managing an entire affiliate website it's important to go further than simply provide links. It is essential to provide them with an incentive to click.
It's then the process of spreading your content to additional places, which includes your social media accounts.
#3. Leverage your social media platforms
Once you've created your high-quality content pieces, it's time to show them off to all the world.
As a publisher most likely, you already have a process that you follow each time you publish and create the latest piece of content -- but it's never hurts to make it a habit and gain more attention to these content pieces, especially in your social networks.
In the end, 67.3 percent from affiliate marketing interact with their customers via social media sites.
It is possible to take this a step further and support those who buy your products through social media groups.
Like the creator Purple Teacup, founder Purple Teacup, Hope Hanson-Baker has done by establishing a personal Facebook page which assists clients as they think of ideas and adjust to 's all-in-one platform.
If you happen to be a social media influencer and you post relevant affiliate content, it isn't limited to ecommerce sites as well as physical items.
Actually, you could promote digital products and SaaS products by becoming social media stars.
For example, take the mother and daughter duo, Kim & Kalee, hosts The Kim and Kalee Show podcast for instance.
Both are members of the expert in digital marketing Amy Porterfield 's Digital Course Academy. Here's one of their Instagram postings with the affiliate promo.
Through their blog, they published an article outlining the reasons they decided to become an affiliate with Amy's Digital Course Academy.
Another excellent platform to promote affiliate business products and services for small enterprises as well as SaaS product is LinkedIn.
Since LinkedIn currently digests 15 times more content impressions than job announcements It's an excellent social media platform to start discussions on affiliate products that are geared towards business.
If you're looking for the format of your social media posts, try this template:
Social post template
[before and after ]
Here is me before and after [product] in my life (the distinction isn't so subtle).
I can't tell you how much [product] has [benefited] me.
If you want to [benefit], you might want to try it also. I share the link within my bio. Copy to clipboard
Example:
This is me before and after I've lived my life (the differences aren't as evident).
I'm not able to tell you how much this platform has helped me organize my work and life.
If you're looking to simplify the entire process of running your online business without having to touch the code for a single word You might want to try it, too. You can find the link in my bio.
Outside of social media channels, there's one more crucial place to deploy your affiliate links, and it's the widow maker of all online marketing channels- email.
#4. Implement an email marketing campaign
Our final tip today is to also get people talking about it through an email campaign.
Nowadays, email marketing is so commonplace that you could anticipate a huge returns on investment of $42 for each dollar that you invest in advertising via email.
The use of email to facilitate affiliate sales can be an opportunity that should not miss out on.
You probably already get many emails from your inbox that promote other affiliate products. Yes, I do. Here's a video from Amy Porterfield promoting Marie Forleo's B school, as an instance.
She even offers her own incentives to help sweeten the deal.
If you're wondering how many emails to mail out to promote your affiliate links I'd suggest at the very least several.
If you're hesitant to send more than you need, do not be. In 2018, I received 15 email messages from Amy Porterfield promoting her affiliate hyperlinks to B-School.
I didn't mind because I'm a good target. If your mailing list is targeted, and the company that you're working with fits into your field, you should not worry about sending out promotions emails.
You're looking for templates for your email that you can use to create your own messages? We've got you covered.
Product launch email template
Hey [first name],
This is too good to not share. an easy story.
In the past time frame, I was [pain point].
It was so bad that [pain point].
However, there's a positive end: I'm able to attain [results].
That's right. And not only was I successful in achieving [result], but I was able to do it in time frame.
This raises the question: how?
Through my method, I came to [resultsby [method], I reached [results.
Amazing, right?
I'm sharing this because if it can help you [resultsalso] by aiding you to achieve your goal.
This is my job.
Go to the [link] to change your world.
[sign off] Copy the clipboard to your computer
Note Be aware that your hyperlink may not send your readers to a landing page on which you detail out your affiliation with the product and you're in the U.S., your email will need to. Add an P.S. in the middle, as so:
P.S. To comply to FTC guidelines, note that this email contains affiliate links through which I will receive an amount of commission from the sales of specific items. It does not affect your price.
Template for sales-oriented emails
Hey [first name],
If you're feeling pain area], then you're aware of the pain emotion] it can be.
There's no need to be alone.
[story illustrating, in detail the moment of tension due to the issue(story in which the tension is illustrated, with detail).
What would you think if I said that it could all be changed?
With one change...
[story illustrating in particular the pleasure that you get in your proposal or solution(story describing, in great detail, how you were able to enjoy the offer/solution.
Pretty incredible, right?
There's good news the product is now available to test [at a discountat a discounted price.
I'm thrilled to share the joy. Give it a whirl and tell me what you think.
[sign off] Copy the clipboard to your computer
Like the earlier template ensure that your link points them to a landing page where they are able to easily view your affiliation with the merchant, or include it as an amendment in the final paragraph of your email. It is possible to learn further on FTC guidelines for affiliates in this .
Whatever the length of your email sequence, the advice in this article is simple and concise:
Make sure to add your affiliate links inside email content, too. It's a channel that's well-known for its impressive conversion rate.
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Let's run a successful affiliate marketing program (and improving your bottom line)
Earn more in your online business without having to create brand new digital products. Simply promote affiliate products of high-quality that you believe in.
Here's how to run a profitable affiliate program and increase your revenue source:
#1. Join affiliate programs which you're able to promote to help your niche audience. If you're a customer of these affiliate goods it's great.
#2. Create and publish informative and useful content which allows affiliate links to effortlessly be integrated. Explore a variety of content formats, especially on your most successful channels.
#3. Make sure you promote your content of high quality by posting affiliate links on your social media channels.
#4. Create a sequence of relevant, helpful emails to promote affiliate hyperlinks.
You could earn additional cash in your small businesses and startups with a successful affiliate program.