How to Make Money with Affiliate Marketing in this year
The affiliate marketing industry continues to be a popular way for bloggers, YouTubers and influencers to monetize their content and grow their audience. In fact, the digital marketing sphere is expected to grow from $132 billion in revenue in 2018 to $255 billion by 2021.
Whether you’re just dipping your toes into the world of affiliate marketing or you have experience with it under your belt, there’s no denying that this can be a great source of passive income.
However, building an effective affiliate marketing strategy takes time and research — especially if you are launching your career in this field for the first time. So, to help you get started on the right foot, we’ve compiled some helpful tips on how you can make money with affiliate marketing this year.
Know Your Audience and Partner Brands
If you’re going to make money with affiliate marketing, you first need to know your audience and partner brands. By getting to know your ideal customer, you’ll gain a deeper understanding of their struggles and needs.
To get started, you can look at data and insights from popular affiliate networks like Amazon, CJ Affiliate by Conversant and ShareASale.
Analyze your past and current readership to determine the products or categories that are most in line with your readers’ interests and needs. This will help you identify potential affiliate partners you can work with and make the most money from.
Find Products You’re Excited to Promote
While you’re getting to know your readers and partner brands, you should also be keeping an eye out for products that you’d be genuinely excited to promote. This will help you stay motivated, engaged and committed to your long-term success.
As you’re scanning product categories, you should be considering a few factors. First, you’ll want to look for a product that solves a pain point or offers a solution to a common problem. Next, you want to ensure that the product is relevant to your audience.
Finally, you want to locate products that are in a niche or category you are knowledgeable about. By choosing a product that aligns with your expertise, you can build a more effective and engaging marketing strategy.
Write Compelling Copy
Once you’ve identified the products you’d like to promote, writing compelling copy for your affiliate links is the next important step. When writing your affiliate links, you want to make sure you include the product title, product URL, your unique affiliate ID and your referral link. This will ensure your content remains compliant with affiliate marketing regulations.
If you want to build your reputation as a trustworthy affiliate and drive more sales, you’ll want to include relevant testimonials, product descriptions and other compelling copy. By writing copy that educates and informs your readers, you can drive more sales and make more money with affiliate marketing.
Develop a Strategy
Once you’ve selected products to promote, written compelling copy and built your affiliate links, you’ll want to develop a strategy for how you’ll actually drive traffic and make sales.
You can start by identifying your target audience and their pain points. Then, you can create content that solves those problems, relates to your readers’ interests and promotes your chosen products.
To help drive even more sales, you can leverage social media, email marketing and other paid marketing channels.
You can also create an email list and nurture your new subscribers with helpful content to make the most of your traffic.
Track Your Marketing ROI
One of the most important steps you can take to make money with affiliate marketing is to track your marketing ROI. This will help you determine which marketing channels are generating the most sales, which products are most popular and how you can improve your affiliate marketing strategy moving forward.
To track your marketing ROI, you’ll want to use a marketing analytics tool like Google Analytics, HubSpot or Sprout. You can also use a referral tracking app like MyRef and track your marketing ROI in real time.
By monitoring your marketing channels and tracking your marketing ROI, you can more effectively optimize your affiliate marketing strategy. This will help you make more money with affiliate marketing over time.
Affiliate marketing can be a great way to earn an income from your blog or YouTube channel. By knowing your audience, finding products you're excited to promote, and writing compelling copy, you can attract more visitors who are interested in buying the products you recommend. You can track your marketing ROI to see which channels are most effective and improve your affiliate marketing strategy over time.