Many people struggle to find how to make money in affiliate marketing online. On a weekly basis I receive emails asking for ways to make a living from it. I suggest that they subscribe to my weekly newsletter and, they seem happy to learn tips and advice from me – I hope!
However I also receive many messages asking how quickly they can get rich. But you know the answer, unless you are in some form of contract (e.g. contract of employment) no one can promise you a high level of income!
I have been asked three times in the last couple of months (6 times actually, but 4 of them came from the same IP address), whether it’s possible to “earn six figures from affiliate marketing”. That’s why I decided to make this video.
How To Make Money In Affiliate Marketing Online
It’s super easy to become an affiliate marketer. Anyone can start as long as the law of the country of residence allows. It’s just that there is no magical trick available in affiliate marketing and, you will certainly never get rich overnight.
On top of that, whether you receive a good income or not really depends on the price and popularity of the products you’re promoting. I hope the following tips will help to get you successful in affiliate marketing that I have tried and tested over the years.
#1 Choose A Niche That You Are Truly Passionate About
You have to have at least better than the average knowledge about the niche – a particular class of products and its industry. And you have to love it. You have to have loved it for a while…in order for you to be able to write millions of things about it.
Otherwise you’ll easily get stuck or get bored after a few months. Longevity is a key to make money in affiliate marketing online.
#2 Research The Market Demand
I said earlier anyone could become an affiliate marketer, which means low barrier to entry, means it’s a very competitive business. So here is a dilemma. You have a niche that you really love, but…
- The higher the demand of niche you’ve chosen is, the more competitive your business will be. But you’ll be successful once you become better than your competitors.
- The lower the demand of niche you’ve chosen is, the higher the chance for you to become the “specialist”, therefore you’ll gain more trust from your site visitors.
Additionally, how much you can earn depends on the unit price of the product too. Household necessities, dental care products for example may be low in price, but the demand is continual.
Keeping these elements in mind, it’s good to research the demand condition of your niche. What kind of audience needs it? Which countries? Is the market still in demand comparing to 5 years ago, 3 years ago, comparing to last year?
#3 Don’t Be Fooled by Expensive Niches
Choosing an expensive niche such as, luxury vacations, yacht hire, private jet charter, jewellery and watches… On paper they sound fantastic and, the higher the niche is, the more commission you may receive per sale.
The chances are that you’ll unlikely to win rich customers so easy.
I have a couple of multi-millionaire friends, who are both very difficult to please and I’ve learned it directly from them. You see what I mean, it would be very hard to convince them unless you’ve tried all the luxury destinations yourself, with a private jet, bought authentic jewellery and honestly believe they’re worthy. You’re not in their league and they won’t trust you so easily.
I’m not saying these friends of mine represent typical rich people, but in my opinion I couldn’t see things in “millionaire’s eyes” enough to get them to buy me.
So, think about it again if you are to choose an expensive niche!
#4 Helping Rather Than Selling
All about affiliate marketing is to help your readers choose products by giving your honest view. The best of my experience tells me that my readers tend to buy products when I don’t exaggerate. When I started affiliate marketing, I often input my own emotion by saying how much I loved the product. Not addressing why my readers should buy it and what sort of benefit it may bring, my initial approach like many other new affiliates take, was a big mistake.
You as an affiliate are not a seller, you should always try to give good advice to your readers and, the decision whether to buy or not is always up to them. So don’t push them hard.
#5 Don’t Lie, Be Honest
If you’re trying to help your readers, you don’t lie. So you shouldn’t promote any stuff that you don’t believe good enough. That would be you’re falsifying your opinion.
On the other hand in a product review, you can criticise as much as you want, but I personally don’t like to cast a black, negative shadow over my article page. I believe in karma you see, I don’t want a negative energy to come back and haunt my own products!
So I tend to simply avoid products that I don’t like. But by all means, negative reviews such as “scam alert” will help your readers stay away from bad schemes.
#6 Make Use Of Other Traffic Sources
Your website is not the only platform to promote products. Social media including Facebook, Twitter, Pinterest, YouTube, Google Plus, Tumblr, LinkedIn, Instagram….. all allow you to advertise for free. As well as IBO Toolbox where you can promote your business itself with so much in detail. Needless to say, by advertising your affiliate products and link back to your website, you’ll be able to boost the traffic. This is the start to make money in affiliate marketing online.
#7 Keep Track Of Your Campaigns
Although you should not “sell” products, you need to check how the visitors like your website. The key to make your site more profitable is to keep testing it.
A/B Testing (split testing) by changing the position of the button, banners and links, to see which alternative layout provides the best conversion rate. Heat Maps also help, using SpyVisit for example, is a great way to find out which part of your site is liked or ignored by your visitors.
#8 Keep Yourself Inspired
Pieces of advice from online marketing experts will help you build up your knowledge. But everything around you really, is a source of inspirations. Be it a conversation with your friends, information from newspapers and brochures. What’s on trend and talked about in the latest TV programs. What kind of problems people have or raise questions about in Quora, what bloggers write about in Medium.
Why is this important? Because you should always be able to have a fair view on general subjects. Your uniqueness will be valued by your readers, but a biased opinion can alienate them. “Is it just me, or I find the Big Bang Theory so irritating?” – I’m afraid it is just you, it’s one of America’s most popular sitcoms, you know.
#9 Keep Up With New Marketing Techniques
Google decides its page ranking (PageRank) by using its algorithm and it updates its method every few months, some major and some minor. So it’s essential to constantly update your SEO strategy accordingly in order to get your web pages ranked high in search engines. It is important to keep up with the latest techniques.
However I find making my own judgement from the news extremely difficult. “What to do” advice from one marketing expert can be “what not to do” from another.
Wealthy Affiliate community helps me in great deal. With over 400,000 members just like you & me, and with variety of experts, I can raise any technical questions freely, any confusions can be cleared. Equally I can share my opinions and give advices to others. It is I believe the best place to learn how to make money in affiliate marketing online.