Did you know that affiliate marketing is expected to grow to a $6.8 billion industry in the next five years?
Affiliate marketing has changed over the years, but with billions of dollars made over those same years and significant projected growth, affiliate marketing continues to be an incredibly lucrative field within internet marketing. In fact, affiliate marketing remains one of the most accessible business opportunities on the internet.
The key to unlocking the fortunes available through affiliate marketing is driving traffic to sales pages for the products that you are promoting, but let’s first take a step back from that door. Before you unlock the door that opens to untold riches (and talking about a multi-billion dollar industry is talking about untold riches), there’s one more important step that you need to take.
If you’re looking for a new career, affiliate marketing can be that new career for you. The way to turn part-time income into full-time compensation is only limited by the number of sales that you make. If this sounds interesting to you, here’s the process for starting:
The Affiliate Marketing Process
- You need to choose a niche and great products in that niche that are selling. To choose a niche, you can go to Clickbank.com and other affiliate marketing hubs to see what is available in a variety of niches. Choose a niche, choose a product with good sales, and you’re ready to launch your affiliate business.
How do you know which products are good sellers and which are duds?
For Clickbank the measure is Gravity (this is abbreviated as Grav on Clickbank). A Gravity above 10 tells you there’s a market out there for a product you’re interested in selling. The higher the Gravity the better. Whether you’re using Clickbank or some other source for other people’s products, they all have a measure for this.
2. Once you’ve chosen a product to promote, the next step is choosing how you will market the product. Will you promote through your website, via emails, or will you use some other channel for advertising and promotion?
3. Once you’ve determined how you’re going to promote the product you’ve chosen it’s time to put together your advertising and marketing. Maybe you’d like to review the product on your website – write the review.
Maybe your preferred method of promotion is emails to your list – write the emails. You may choose to promote your product to someone else’s list – in this case you contact the list owner and do what they ask. It might be providing a swipe (the copy for an email) and a website url.
You could advertise the product through banner ads, Facebook ads, Google adwords, Instagram, Pinterest, or any number of social media channels (I have a guide on this). You could create a YouTube video. There are many places to advertise, the choices are varied, but in time you will find what works best for you and the products that you promote.
That’s the affiliate marketing process in miniature; there are some other pieces that you’ll need in place to complete what may seem like a puzzle to you at this point. You’ll need Paypal or some other means to collect money, and you may need a website with a domain name.
One of the important aspects of affiliate marketing is building trust with potential buyers. One of the ways to do this is through a blog like this one where you can demonstrate that you know what you’re talking about. A second way is with an email list that you send to regularly. Through regular emails you can establish trust.
Be yourself, be honest, and you will build trust with those you interact with on a regular basis. Here are some affiliate network suggestions from Drink Coffee and Prosper, a good website about affiliate marketing.
- Linqia: Great for sponsored posts.
- Shareasale: A huge hub for affiliates.
- OfferJuice: I joined solely because blog guru Michelle uses it (by the way, she banks $50K+ PER MONTH in affiliate income! Learn how here)
- Izea: One of the first networks I joined. Tons of opportunities instantly!
- Peerfly: Have you heard of CPA offers? Get paid by lead or by sale. Amazing income opportunity!!
- Flexoffers: Tons of opportunity and great income potential.
I welcome your comments and questions, and your links and shares.