This article has been updated on 27.03.2023 to align with Avelon Network's updated best practices.
Affiliate marketing is a performance-based marketing strategy that allows creators, businesses or individuals to earn commission by promoting another companies products or services. It's a popular way for individuals to earn passive income by promoting products they believe in and receiving a commission for each sale made through their unique affiliate link or discount code.
In this article, we will discuss some essential tips and strategies to help you succeed in affiliate marketing.
If you'd like to read more in-depth articles, such as How much commission should I offer affiliates or you'd like to read a Case Study on how one cyclist turned his website into an incredible revenue driver, just check out our Knowledge Base. It's updated three times a week with valuable information on everything affiliate marketing, for both brands and affiliates.
What is an example of Affiliate Marketing?
Let's say you have a website that provides information and reviews about the latest sports products. You could sign up for an affiliate program with a sports retailer, and promote their products on your website.
You could create a review of a new pair of running shoes that you recommend, and include an affiliate link to the product on the retailer's website, alongside a discount code (if the retailer/brand offers one). When a reader clicks on the affiliate link, or users the discount code and makes a purchase, you earn a commission on the sale.
The commission rate typically varies depending on the product and the affiliate program, but it can range from a few percent to over 20% of the sale price. With the right audience and targeted promotions, affiliate marketing can be a lucrative source of passive income for bloggers, influencers, and website owners.
What type of affiliate marketer are you?
There are many types of affiliate marketers. We recommend you decide which type you want to be before you get started, and then focus on that affiliate channel.
Blog based affiliate marketing
Blogs and review websites are the original affiliate marketers. Blog owners focus on writing informative, interesting reviews and point of views on products they own and post links to sites which sell the product they're talking about. They earn a commission for every sale they make.
For example, Which? is the world's largest affiliate website. They provide in-depth product reviews and if you buy a product through a link on their site, they earn a percentage of that products total value.
Social media based affiliate marketing
Social media based affiliate marketing, or social media influencers are social media users who have a large following, who post about products they are gifted, along with a discount code, or affiliate link, that earns them commission for every purchase through said discount code or affiliate link.
Newsletter based affiliate marketing
Newsletter based affiliate marketers work along the same lines as blog based affiliate marketers, but email you direct to your inbox. They write informative, interesting copy and their content can be just about anything, but also provides links and discount codes for you to use on a brands website.
Discount code promoter
Discount code promoters, such as Honey or VoucherCloud, work completely autonomously on the internet and have little to no interaction with the brand they are promoting. Brands provide real-time discount code sheets to these sites, and it's up to the affiliate to disect this data and post it in a user friendly format.
Usually, these affiliates are programmers/website developers and their entire business is run through automation.
How much commission will I get paid?
How much commission you're paid will depend on the program you've joined, which industry you're promoting, how many sales you make and even boils down to your relationship with the brand/retailer. Some brands/retailers offer bonuses for hitting sales targets, much like a real life sales person.
Cost per click, or CPC, is also another revenue stream for affiliates. CPC is where brands pay you per click of your link alongside commission on the sale of the product. Brands usually do this to drive greater brand awareness and it's a sliding scale between CPC and commission, i.e you'll earn guaranteed revenue every click, but you'll earn less commission on a verified sale.
We've written an in-depth article on what the average commission is across each industry. We'd recommend giving it a read before deciding what industry to start in. You can read the article here.
How often will I get paid my commission?
Affiliate marketers get paid their commission very sporadically. Some affiliate programs pay per sale, which can mean you get very small amounts very often, and some pay every 6-months. The programs which pay very often are usually the larger programs such as Amazon, as they are completely automated, and the programs which pay every 6-months are usually run directly by the brand, as their accounts team have to process the payments.
How do I become a successful affiliate marketer?
Becoming an affiliate marketer, or becoming a successful affiliate marketer, takes time and patience. It's not an overnight success, but if you're willing to put in the work, it can be incredibly lucrative. We've outlined how to take the first steps to become an affiliate marketer below:
Choose a profitable niche:
To be successful in affiliate marketing, you need to choose a profitable niche that aligns with your interests and expertise. Conduct thorough research to find a profitable niche with high demand and low competition.
Create quality content
Creating quality content is critical for attracting traffic and generating leads. Write informative and engaging content that provides value to your audience and promotes the product or service you are promoting.
Optimise for your audience and search engines
Optimise your content for search engines by conducting keyword research and including relevant keywords in your content. Use descriptive and compelling meta tags, headers, and descriptions to improve your visibility in search engine results pages.
Build high-quality backlinks
Building high-quality backlinks from relevant and authoritative websites can help improve your website's credibility and increase your chances of ranking higher in search engines. Reach out to other website owners to request a link to your website or create guest posts on relevant blogs.
Engage with your audience
Engage with your audience through social media, email marketing, or other channels to build trust and establish a loyal following. Respond to comments and questions promptly and provide valuable information and insights to your followers.
Analyse and adjust
Continuously analyse your performance and adjust your strategies accordingly. Use tools like Google Analytics to track your traffic, conversion rates, and other metrics to identify areas for improvement and optimise your performance.
In conclusion, affiliate marketing can be a lucrative and rewarding way to earn passive income. By following these tips and strategies, you can improve your chances of success and increase your visibility in search engines. Remember to choose a profitable niche, create quality content, optimise for search engines, build high-quality backlinks, engage with your audience, and analyse and adjust your strategies continuously. With patience, persistence, and dedication, you can achieve success in affiliate marketing and reach your financial goals.