One of the best things about affiliate marketing is that you do not need to worry about manufacturing or sourcing of the products. You don’t have to worry about delivery or customer service or other regular operations of an e-commerce site.
Also, running an affiliate site means that you are able to choose the products and make money on commissions. So if you are good at product selection, marketing and few other things, then you should start your affiliate business now.
However, if you are not great but still are keen to make a lot of money with affiliate marketing, then you should continue to read this article. You don’t need any technical expertise for this. All you need is some knowledge of how the internet and basics of ecommerce. Rest will be covered here.
So here are the steps –
- Select the right products
In order to ensure that there are enough sales on your site, you will need to first select a few offers and products. This selection needs to be based on the current market demand of the products. It needs to be based on the product pricing and it also needs to be based on discount that is being offered. You should also check the overall rating and review of the product. You will have to do your initial bit of research first to be confident that the product is good and there are people who are interested in purchasing it. You will also need to read the detailed T&Cs and the features associated with the product. Be sure to select your products based on these, as the buyer will definitely read and research before he buys.
- Find what people are searching for
Once you have selected the products, you need to find the right set of search terms that are associated with those keywords. You should use the Google keyword planner tool to select the right mix of words. You will need to select keywords that have a large search volume. Typically select keywords that have atleast 10,000 search volume. You should also not go for keywords that have extremely large search volume (greater than 40,000). Also, make sure that the overall competition is less than 0.7. Anything upwards of that is harder to target.
- Evaluate the competition
Once you have figured our the keywords and the phrases, then you need to understand who is taking away all the traffic. You will need to study the competition. When I say study, it means a lot of things, for example study the product, study the USP, features, pricing, delivery time, refund policy etc. You will need to study the SEO implementation of the top 3-5 websites and see what you can learn and implement. You will need to understand the key benefits that your product has and vice versa. Also, you will need to understand if your product’s target audience is exactly the same or different from the top few websites. It is important to learn as much as from the competition as only then you will be able to position yourself as different or overtake them in search rankings or both.
- Choose the technology
Decide whether you want a blog, or you want to have landing pages or you want to be an aggregator of a comparison site. All these are types of affiliate marketing sites and you need to ensure that you are clear on what is your strength. Is it content, is it technology, is it UI or something else. Once you have taken a call as to what type of affiliate you want to be, then you just need to decide what type of technology platform you need to choose. If it is a blog, then you decide on the blog that is most suited to your needs, if you want to create landing pages, then you need to decide which platform to use to create those landing pages and so on. Choosing the right technology is important as you don’t want to change your platform every few months.
- Choose your marketing channels
This is where you start getting the traffic. You need to get enough traffic at a cost that will give you profits. Here is an example.
Profit made per sale (commission) – 2$
Cost to get traffic to your site – 2.1$ per 100 visits
Conversion rate on your site – 2.0%
This means that you are spending 1.05$ for every sale and thus you make 0.95$ per sale.
This is profitable and thus you can start this business and keep on reducing your cost. One way to reduce costs is to get more of SEO traffic or referral traffic. Another way is to optimize your paid campaigns. You will need to figure out what you are strong at and focus on that marketing aspect more than the others.
With these basics well in place, you will be able to run a successful affiliate marketing campaign on your own. All the best!