Affiliate marketing has presented a huge opportunity for people looking for a source of passive income. However, a chunk of those that have joined the train of digital marketers hardly smiles at the bank because they do not understand the nitty-gritty of the business.
Affiliate marketing is basically earning a commission for selling someone else’s product/services albeit through your blog or social media pages. While this practice is much wider than what we have even started, there are instances where you earn money as an affiliate marketer for the visitors that come to your platform and not necessarily buy the product of your provider.
Let’s take a quick look at the five secrets of budding digital marketers to earn more money.
1. Choosing what Products to Promote
After deciding to become an affiliate marketer, the next fundamental step requires you to pick a niche where you’d be pitching your tenth. In this step, you look at products that’d be easier for you to sell or promote. For instance, since I love beauty products, I’ll find it easier to promote skincare brands. Again, there are certain factors to this choice and we take a swipe:
- Competition: There are several digital marketers that are doing the same thing that you want to do. Meanwhile, you are advised to check the competition for the product or services you’d like to promote. You may want to use keywords on google to see how many products are looking up in organic listing or PP ads. If the market is less competitive, you are likely going to cash out but that is not to also say extremely competitive products/services are not converting well.
- EPC – Ensure that you do not pass over the EPC of a product or service before making a choice whatsoever. EPC means Earning Per Click. The biggest affiliate networks normally have two metrics, thus 7-day EPC and 3-month EPC. You are advised to go for the 3-month EPC.
- Consumer demand/keyword traffic – If you have been able to secure a product that is moving, the next thing is to find out if consumers are searching for the product. How do will you sell if you do not have traffic?
2. Communicate with your affiliate rep
Communication is a bridge for every relationship, including business relationships. As an affiliate marketer, you should establish formal communication with your affiliate representative. These representatives are privy to information like what is currently selling and the high-performing programs. If you have a good relationship with the representative, they can give you more and better information. They know they will succeed if you succeed so they will attend to you well.
3. Diversify promotional methods
If you go through our site, you’d see a list of methods for affiliate marketing. It is recommended that you do not use only one method because various methods work on various offers. You’ve got to continuously test methods of promotion to see the one that best fits or works for you. PPC is the most common form of affiliate offer presenting higher costs because of more competition.
4. Negotiating Higher Payouts.
Although commissions on products are fixed for percentages, you have room to negotiate a higher payout. Now, if you are making less money than those you are competing with, you may need to negotiate to be able to compete with them on PPC cost and other methods of promotion. In our subsequent post, we are going to show you how to negotiate a higher payout.
5. Value Added
The basic difference between an affiliate website and others is the value you add to the life of your visitors. So beyond the information on products, the other rich contents on the site can positively affect and shape the life of your visitors.
There are instances where you also allow for reviews by your visitors and if your contents are good enough, it can boost your ranking on google and earn you more traffic.