Affiliate marketing is an increasingly popular monetization technique that allows other companies to promote their products on your website while giving you the chance to earn a slice of profit for each sale they make. The beauty of this partnership is that it presents companies with a low-cost avenue to advertise their products. And as an affiliate marketer, you don’t need to invest the time and energy needed to come up with your own product. Instead, you can earn money by promoting other companies’ products on your online platform.
But this is no mere walk in the park. Fortunately, you can find a great number of different inbound strategies that you can employ to generate income as an affiliate marketer. Factors such as your site’s niche and the characteristics of your audience also play an important role in how much you earn. To help you out with this, here are five ideas to a successful affiliate marketing strategy:
1) Create unique content and niche.
One of the greatest challenges affiliate marketers face is how to prove your worth as a middleman in the value chain. Yet, the biggest advantage and the greatest opportunity you have over established brands is your capacity to market content at a much faster rate. Brands can spend countless months holding meetings over what type of content the company needs, while you can be creating high quality and unique content in a matter of weeks. Also, don’t scatter your efforts and try to offer your customers everything under the sun. Focus on a specific niche market, promote it, and exert extra effort in selling it well.
Creating unique content and niche may, to an extent, sound too commonplace but it is the single most effective tactic to get a good grip on your potential audience.
2) Build a strong brand.
Traditionally, affiliate marketers haven’t had the need to worry about building a strong brand. But it’s interesting to note that many significant insurance websites, including those in travel, property, homeware, and personal finance, are all affiliate sites with a strong brand. So make sure to develop your brand into one that users trust. A strong brand, paired with editorial integrity and customer value, will catapult you to a level you never have quite anticipated.
3) Know your product and audience.
This one doesn’t need rocket science. Make it your responsibility to learn about the products and/or services you are marketing so as to come up with information that builds rapport and, ultimately, your credibility, which in turn makes you earn your audience’s trust. If you fail at this, then they most probably will not make purchases from your website.
4) Don’t depend on a single traffic source
The tides of change can come at any given moment, so you should be prepared for what happens every time Google or any other traffic source releases an update. Many successful affiliate websites have gone out of business because they depended on a single traffic source. Owning your audience is the best-case scenario, not renting it. But, if you have to rent it, rent it from a number of different sources. Don’t rely on just one. Keep in mind—success also entails resourcefulness.
5) Focus on topic targeting, not keyword targeting.
The trend on keyword targeting has long shifted to topic targeting, with a focus on capturing long-tail traffic. Now you don’t need to worry about your specific content having to constantly be on top of the list of search items. Instead, you can focus on creating in-depth content under a broader and more descriptive topic. By taking this approach, it won’t matter where your content ranks. What matters is the collective amount of relevant long-tail traffic your content receives. Neglect the habit of thinking small and start embracing the bigger picture.
6) Don’t give up.
Suffice to say, the affiliate marketing business is a dog-eat-dog industry. Competition is very stiff; thus, many newcomers give up at the early stages. But don’t throw in the towel too soon. Keep track of your statistics to see what’s working for you and what’s not. Make the necessary changes and improvements. Always be ready to jump on the bandwagon. Take one day a time. Most importantly, be patient. You’ll start earning in no time.
Remember, Rome wasn’t built in a day. And as with any worthwhile endeavor, you’ll need to develop the knowledge and persistence to achieve your goal. But with these ideas, you’re off to a good start in achieving a successful affiliate marketing strategy.