How to Get Started with Affiliate Marketing?
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The first place to start is by learning as much as you can about affiliate marketing, including the various tools and strategies that are available, and the latest trends and tactics that affiliate marketers are using. Luckily, there are loads of online affiliate marketing communities you can join and affiliate marketing podcasts to follow so you can get the starter knowledge and support you need.
The main question you need to ask yourself at the beginning of your journey to become an affiliate marketer is this: what product do you want to sell? That’s when you need to think about choosing a niche.
Choose your niche
There are so many niches – or categories – of products you may choose to focus on in your affiliate marketing activities. Affiliate marketers usually choose the niche based on a few different factors:
How competitive is it? The more crowded the niche, the harder it will be to compete and drive traffic and conversions.
How well do you know your niche? It’s best to focus on niches that you are familiar with. For example, if you are a fitness freak, you can choose to promote fitness products.
Do you have personal experience or authority on the niche? It will be easier and come more naturally to promote products that you actually use. Not a must, but nice to have.
Are you willing to spend time learning about a niche if you are not already familiar with it? You don’t have to be an expert in the niche. If you find a niche that looks promising, you can brush up on it and get the knowledge you need to succeed.
Read more about affiliate marketing niches and how to choose them below.
If you build a website, they will come…
Most affiliate marketers operate a website or multiple websites. There are plenty of other digital marketing channels and platforms where you can promote your affiliate activity. However, if you are just starting out, you might want to invest the time in creating a website. It can serve as a central platform to work on your performance marketing skills while slowly building an income stream.
Read more about building an affiliate website below.
Money Talks – The Truth about Affiliate Income
Money, money, money – for affiliate marketers, earning income is the most important goal. Whether you can make money, and how much you can potentially rake in, will depend on a bunch of different factors. But let’s get down to the nitty-gritty of exactly what affiliate marketers can expect to see in their wallets.
Can you make money with affiliate marketing?
The answer is “yes”. In the US, affiliate marketing spend is expected to reach $8.2 billion by 2022, compared to $5.4 billion in 2017. Plus, 84% of publishers use affiliate marketing. Any way you look at it, the industry is growing and thriving, which means there is ample opportunity to make money as an affiliate marketer.
How much do affiliate marketers make?
There are many affiliate marketing myths around this topic, truth is the amount of affiliate income earned varies greatly. It’s hard to know for sure, but here’s a general breakdown from the various available stats:
Nearly half of affiliate marketers make less than $20,000 a year
35% of affiliate marketers make more than $20,000 a year
According to one survey of affiliate marketers, 9% of respondents made more than $50,000 in 2016
Who is the most successful affiliate marketer?
There are plenty of successful affiliate marketers out there, and not all publicly share how much they are making. However, Jason Stone, AKA the “Millionaire Mentor ” is reputed to have made $7 million revenue in 18 months. Plus, one of the most popular influencers in the affiliate scene, Pat Flynn, has published income reports in the past, which give a fascinating glimpse into the financials of a thriving affiliate business. In December 2017, he recorded net profit of just over $125K.
How fast can you make money with affiliate marketing?
There is no hard and fast rule. How quickly affiliate marketers manage to make money, or even grow their business to something resembling a more full-time career, is highly individual. For instance, Tom Dupuis blogged about how he managed to jump from $20K to $80K to $150K annual income in two years. Or read this fascinating post in which dozens of affiliate marketers talk about how long it took to make their first sale. The answers vary wildly, with one affiliate going from $0 to $7K revenue in 6 months, and another describing how it took three months to make their first affiliate sale (a modest $310!).
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