As you know we announced "The Blue Affiliate Program" yesterday. With this fresh feature, you can test all you affiliate link regularly and also lets you know the performance!! All sounds good, but you might be wondering what is affiliate marketing in a broad term and what are the best ways to make money thru it? Let me examine these questions in depth.
What is Affiliate Marketing?
Let’s begin with the broad definition of affiliate marketing. In simple terms, whenever a sale happens and can be linked to a recommendation made by one of the affiliates, the marketing company rewards the affiliate. It is one of the easiest way of earning money as you do not need to create and sell a product. All you have to do is create a link between the buyer and seller; and take your commission on successful sale !!
How to make Money in Affiliate Marketing?
As you see, affiliate marketing is a source of passive income. It is true that is highly competitive and yet so easy to make money online. To be successful, you can learn what works and what doesn't while promoting your products. Here are some tips:
1. Be Patient
Like any business opportunity, it takes time to build audience, see them consider the product, let them take a small trial and eventually repeat the buying as satisfied customers. Hurrying the customer in these stages can make them feel uncomfortable and reject your proposal too soon.
2. Research the Product Demand
It you are already selling similar products to your customers, its time to view your daily, weekly, monthly and quarterly sales and traffic charts. Try and understand the customer behaviors and choices. If not, it is good to spend time on internet and learn how the customers are currently using these products.
3. Choose Attractive Products
Instead of promoting everything, select products which are unique, profitable and can appeal to large masses. This simple strategy can save you from lot of disappointment.
4. Use many Sources of Traffic
Your probability of making more money increases with the extra traffic you send to our website. You can consider
a) write own posts about our company on Facebook page and Instagram
b) re-post from our Company Instagram and Facebook page
c) consider writing a blog post (on our website or any other free sites) and sending your followers to read it.
d) write direct emails to your friends and offering discount coupons
e) run Facebook ads and Google Ads, and we suggest this only after you have started getting initial sales and understood whom to promote the products to.
5. Attract more Targeted Customers
Your core function is to push to click on your link and so, you need to attract more visitors. There are generally four way to attract online traffic, namely a) email marketing, b) article marketing, c) free advertising and d) paid advertising
Combining the right content, with graphics and your link is the key to attract the right customers. These customers will not only click on your link, but also purchase products.
Always Measure Results
Don't leave your plans to luck. In this dynamic area of affiliate marketing you must calculate each step.
a) Conversion Tracking or Click Through Rates
This is an important measure of counting how many people actually responded to your actions or purchased the product. That so, in the percentage of how many people received the impression.
Keep testing and measuring various strategies, to understand which one is giving better conversions and better click through.
b) Monitor User Behavior
Secondly, you have to observe what users are doing after clicking your link. In case visitors are clicking to your link but not purchasing, you might want to understand reasons to this. Then, implementing such improvements to your marketing can show significant rise in purchases.
c) Talk to friends and family
Apart from the above numbers, seek qualitative feedback and implement it. Best people to give you the right feedback are your friends and family.
Ready for action?
Lets go to your Dashboard and get started!!