During the last decade the affiliate marketing industry has been constantly in flux. If you want to ensure you’re using your time and money wisely, it’s imperative that you stay well-ahead of the curve and predict industry changes in advance.
Fortunately, affiliate marketing is bigger than ever and there’s plenty of space to get involved if you want to establish a new online business. These tips will help you get started.
Find the Right Marketplace
There are literally thousands of affiliate programs out there in almost every niche imaginable. Finding a program that pays a high commission is just one step in the process. You’ll also need to find a product or niche that will hold your interest for the long haul. Affiliate marketing takes time, and it could be months until you start seeing viable results. If the topic you’re developing content for doesn’t engage you, then you’re only limiting your chance of success.
An affiliate marketing agency is always a good starting point as they can assist you finding a product and industry that’s right for you. In addition, an agency can help you devise a marketing strategy that will work best for your niche.
Select a Viable Commission Format
There are various types of commission, each with their own positives and negatives. Rather than going for a niche or product that has the highest commission, it’s always worth researching the other formats to ensure you’re choosing one that will provide the greatest long-term profit.
One Tier – Gain commission when a sale is generated from your affiliate link. This is the most common form of affiliate marketing and, generally, offers a larger commission than multi-tier systems.
Two Tier – Gain commission from other affiliates you have referred when they generate sales. With this approach you don’t have to make the sales yourself, but you will have to find others willing to market the product that you’re endorsing. Some affiliate programs have more than two tiers, allowing you to also generate commission from third, fourth or even fifth tier affiliates.
It’s far better to retain existing clients than to generate new ones. Therefore, recurring commissions provide the most viable way of creating a long-term, sustainable business model. If you find an affiliate program that offers recurring commissions within your niche, it’s definitely worth checking out.
Keep a Diverse Affiliate Profile
Keeping a diverse affiliate profile is more important than ever. Relying on a single product or website is a huge risk. You can never predict if a vendor will change the terms of their agreements and reduce commissions, or even halt their affiliate program altogether. If this happens and you don’t have a diverse affiliate profile, your business could seize to exist overnight.
If you are currently only focusing on one particular product or niche, start exploring new opportunities as soon as possible. Even if you’re conducting business ethically and taking all the correct steps to ensure longevity, there’s only so much within your control.
Create Valuable Content
There’s a common misconception that Google’s algorithm is erratic. Bloggers, particularly those in the affiliate marketing world, often report substantial drops in traffic after major Google updates. While algorithm changes can result in seemingly unjust rankings, it’s important to remember what Google’s primary goal actually is: to prioritize the best and most valuable content on the web.
Just because you’re engaging in affiliate marketing, it doesn’t mean your website can’t be valuable. In fact, the most successful affiliate marketers focus 90% of their efforts on developing valuable, engaging content. Fundamentally, if you follow the rules and don’t try to hack the system, you’ll be fine.
Due to algorithm changes, affiliate marketers have been hit hard on multiple occasions throughout the last decade. However, if you take the time to learn both what to do right, and what not to do, there’s no reason why you won’t develop a profitable and sustainable business.
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