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Affiliate Marketing: Is It Still Worth To Do In 2024?
Time： 2024-09-10 14:01 Click：
Is affiliate marketing still worth it?
The short answer - yes. Affiliate marketing is worthwhile, if you have a strategy to promote products or services that are relevant and valuable to your audience.
There are many successful stories of folks making a fortune with affiliate marketing,
Living Cozy, an independent affiliate website, achieved more than $12 million in revenue.
MoneySmart, Asia’s NerdWallet, made $29 million in 2022.
DogFoodAdvisor, a dog food affiliate site, was acquired for $9 million.
Entrepreneur Pat Flynn made around six figures in just one month in 2017.
Affiliate marketing can be profitable and promising, but it’s not a get-rich-quick scheme, you’ll need more consistency, patience and effort to do it. It is a business strategy that can enable you to use your expertise to attract a larger audience, and establish a recurring income stream.
There are many successful stories of folks making a fortune with affiliate marketing,
Living Cozy, an independent affiliate website, achieved more than $12 million in revenue.
MoneySmart, Asia’s NerdWallet, made $29 million in 2022.
DogFoodAdvisor, a dog food affiliate site, was acquired for $9 million.
Entrepreneur Pat Flynn made around six figures in just one month in 2017.
Affiliate marketing can be profitable and promising, but it’s not a get-rich-quick scheme, you’ll need more consistency, patience and effort to do it. It is a business strategy that can enable you to use your expertise to attract a larger audience, and establish a recurring income stream.
How does an affiliate earn commissions?
The affiliate earns a commission when a consumer clicks their unique affiliate link and makes a purchase.
Here are five main payment methods for affiliates that you want to know.
Pay-Per-Click (PPC): The PPC model indicates that affiliates earn a commission each time someone clicks on a link that directs to the merchant's website. This model is good because getting a user to click on a link is MUCH easier than making a sale.
Pay-Per-Sale (PPS): PPS is the most commonly payment model in affiliate marketing. In short, with PPS, affiliates are paid for each sale they bring.
Pay-Per-Lead (PPL): In the PPL model, affiliates are compensated for every lead they bring in. The PPL model typically has a higher commission rate than the PPC model because the leads you bring in are more qualified. Having said that, this method does demand more effort, and some merchants assess every lead you bring in, which means commissions can be postponed.
Pay-Per-Action (PPA): Also known as “Cost-Per-Action” (CPA), the PPA model is very similar to the PPL model. The major difference is that the user usually has finished researching different products and is ready to make a specific purchase.
Hybrid models: Besides the main methods stated above, some affiliate programs use hybrid models that merge elements of PPS, PPC, PPl and PPA. These models are crafted to offer more balanced commissions and encourage affiliates to take part in diverse promotional actions.
Here are five main payment methods for affiliates that you want to know.
Pay-Per-Click (PPC): The PPC model indicates that affiliates earn a commission each time someone clicks on a link that directs to the merchant's website. This model is good because getting a user to click on a link is MUCH easier than making a sale.
Pay-Per-Sale (PPS): PPS is the most commonly payment model in affiliate marketing. In short, with PPS, affiliates are paid for each sale they bring.
Pay-Per-Lead (PPL): In the PPL model, affiliates are compensated for every lead they bring in. The PPL model typically has a higher commission rate than the PPC model because the leads you bring in are more qualified. Having said that, this method does demand more effort, and some merchants assess every lead you bring in, which means commissions can be postponed.
Pay-Per-Action (PPA): Also known as “Cost-Per-Action” (CPA), the PPA model is very similar to the PPL model. The major difference is that the user usually has finished researching different products and is ready to make a specific purchase.
Hybrid models: Besides the main methods stated above, some affiliate programs use hybrid models that merge elements of PPS, PPC, PPl and PPA. These models are crafted to offer more balanced commissions and encourage affiliates to take part in diverse promotional actions.
How to get started with affiliate marketing?
Now you know almost everything about affiliate marketing, and you may wonder how to start it. Below is a step-step guide to begin your affiliate marketing from the scratch. Let’s dive in.
Step 1: Find your niche
The very first step to becoming an affiliate is to pick a niche that you are passionate about or have expertise in. The better you define your niche, the easier it will be to create content and promote products. My suggestion is to be more specific than others if you want your website to stand out among numerous websites today.
Step2: Select a channel for affiliate marketing
After you’ve found your niche, you’ll need to choose at one channel or platform where you can promote your affiliate products. Some common channels include: website, YouTube, social media (e.g., Instagram, TikTok) and blogs. Among these, blogging is likely the simplest and most inexpensive way to begin with affiliate marketing and can be effective for affiliates who wish to write product reviews and comparisons in order to promote their selected affiliate products.
You might discover that one channel is more suitable for your affiliate marketing objectives compared to others, or that a multi-channel marketing strategy is optimal. It all depends on your preference and occasionally, your niche’s preference.
Step3: Find an affiliate program or network to join
Affiliate networks connects merchants with affiliates. It will give you hundreds of affiliate programs to choose and join. Moreover, joining an affiliate network enables you to gain access to companies that are seeking affiliates and also provides tools for you to find the right options.
If you are uncertain where to find brands or companies to start with, there are some popular affiliate networks, including:
BitBrowser Affiliate Program
Awin
Amazon Affiliate Program
LinkConnector
ShareASale
Etsy Affiliates
Step 1: Find your niche
The very first step to becoming an affiliate is to pick a niche that you are passionate about or have expertise in. The better you define your niche, the easier it will be to create content and promote products. My suggestion is to be more specific than others if you want your website to stand out among numerous websites today.
Step2: Select a channel for affiliate marketing
After you’ve found your niche, you’ll need to choose at one channel or platform where you can promote your affiliate products. Some common channels include: website, YouTube, social media (e.g., Instagram, TikTok) and blogs. Among these, blogging is likely the simplest and most inexpensive way to begin with affiliate marketing and can be effective for affiliates who wish to write product reviews and comparisons in order to promote their selected affiliate products.
You might discover that one channel is more suitable for your affiliate marketing objectives compared to others, or that a multi-channel marketing strategy is optimal. It all depends on your preference and occasionally, your niche’s preference.
Step3: Find an affiliate program or network to join
Affiliate networks connects merchants with affiliates. It will give you hundreds of affiliate programs to choose and join. Moreover, joining an affiliate network enables you to gain access to companies that are seeking affiliates and also provides tools for you to find the right options.
If you are uncertain where to find brands or companies to start with, there are some popular affiliate networks, including:
BitBrowser Affiliate Program
Awin
Amazon Affiliate Program
LinkConnector
ShareASale
Etsy Affiliates
What’s BitBrowser’s affiliate program?
With BitBrowser’s affiliate program, you can enjoy a 20% commission of the consumption amount of subordinate users that you direct to the company’s site. It will be a source of permanent passive income for you. It’s easy to start and operate.
Here’s how to start:
1.Download BitBrowser from its official website.
2.Click "Referral" on the left navigation bar to get the promotion link.
3.Start to promote, and enjoy the commissions of all subordinate users.
Step4: Create impressive content
After you have joined an affiliate program, promote their products by creating valuable content that shows their features and advantages. Use your affiliate link to drive traffic to the merchant's site. The most common types of content may include: product reviews, case studies, tutorials, product comparisons, resource pages. Choose one that suits your niche perfectly and start your business.
Step5: Drive traffic to merchant’s sites
Once you have created some amazing content, you are prepared to generate traffic and build an audience that will come and click on your affiliate links.
Here are three traffic strategies to take into consideration:
Here’s how to start:
1.Download BitBrowser from its official website.
2.Click "Referral" on the left navigation bar to get the promotion link.
3.Start to promote, and enjoy the commissions of all subordinate users.
Step4: Create impressive content
After you have joined an affiliate program, promote their products by creating valuable content that shows their features and advantages. Use your affiliate link to drive traffic to the merchant's site. The most common types of content may include: product reviews, case studies, tutorials, product comparisons, resource pages. Choose one that suits your niche perfectly and start your business.
Step5: Drive traffic to merchant’s sites
Once you have created some amazing content, you are prepared to generate traffic and build an audience that will come and click on your affiliate links.
Here are three traffic strategies to take into consideration:
- Paid traffic
- SEO
- Build an E-mail list
Step6: Convert traffic to commissions
After getting all these done, you’re able to earn commissions at any time and any place. With more and more clicks on your affiliate links, you’re establishing a stream of recurring income for yourself. Don’t forget to discover more ways to attract your audience, whether directly or indirectly and increase your extra income.
Wrapping up
Affiliate marketing is an great means of earning passive income, yet promoting products is not always easy. If you’re dedicated to do it well, it’ll be profitable and fulfilling.