Welcome for those new to my blog. On this post, I am going to discuss the five fundamental steps to affiliate marketing. Before I do that, Please watch the video below, if you are new to the concept of affiliate marketing. It will help you get up to speed with the process.
What is Affiliate Marketing?
Affiliate marketing is a type of performance-based marketing in which a business rewards their affiliates for each customer brought by the affiliate’s own marketing efforts. It is not overly cost-intensive because as an affiliate you do not need to acquire your own products. Some affiliates marketers opt to pursue cost intensive promotional campaigns at an early stage, while others go through the organic route. Both strategies could be effective but for people just starting out in this business, the organic route is the sustainable sensible option.
The 5 fundamental steps to affiliate marketing are as follows:
- Finding a gap in the market within a niche of interest
- Choosing a communication platform
- Creating valuable content `
- Monetizing traffic
- Scaling up and sustaining your business platform
Finding A Gap In The Market within A Niche Of Interest
There are two parts to this process. The first task is for you to find a gap in the marketplace that you want to fill. This is the research phase of the process and getting this right would set you on a solid ground. The second part of the process is finding this gap within a niche that is of interest to you.
The reason behind this is simple but very important. When you love what you do, it is no longer a chore. You will be required to create content around this subject for a long time, so you would find it easier if you found the niche interesting. Choosing a niche requires a balancing act. While a niche of interest is key. Your chosen niche should be profitable.
There are several ways to determine a profitable niche. You should explore the products and services within the niche and its content potential. This will help you evaluate properly. Personally, I prefer niches that are evergreen. This means that they have huge content and earning potential.
Choosing A Communication Platform
The second step is having a medium to communicate and share your insights with your audience. This would involve you creating a website and creating content. Your website and publications would be your vehicle for communication.
You do not need to be an internet whiz to create a website. All that you required is domain provider (eg GoDaddy), web host (eg HostGator or BlueHost) and knowledge of WordPress. If you prefer building on the front end using drag and drop tools. You would find platforms such as Wix.com, or Weebly.com.
Creating Valuable Content
Content is king is a phrase you have to always remember. To achieve success, you need traffic and that comes through creating valuable content. Delivering value to your target audience is very crucial to achieve success. Think about the gap you identified within the first step and how you are going to bridge it. What is the solution to the problem? Are there several solutions available? What are the options? What information is required for your audience, to make an informed decision? If you offer value to your audience, they will stick around.
There are several techniques and resources that will help you achieve traffic, but this will dissipate if your content is not considered to be valuable.
Monetizing your traffic is what affiliate marketing is all about. You drive commissions through affiliate promotions and advertising. For instance, if you are recommending a product or service. Your audience will reward you for the value provided by following your recommendation.
Your earnings will grow as your following grows. Google AdSense is also a way to monetize your traffic. This is a program run by Google that allows publishers in the Google Network of content sites to serve automatic text, image, video, or interactive media advertisements, that are targeted to site content and audience.
Scaling Up and Sustaining Your Business Platform
After establishing traffic and monetizing it. It is now time to scale up your operation. Naturally, If you took care of steps 3 and 4 correctly, you should be able to generate repeat business. Scaling up your operations sometimes requires doing things such as outsourcing or bringing in more resources. This would enable you to grow your business. To sustain your business when scaling up. You must ensure that those values that brought you success in the first place are not compromised. If you maintain that and evolve correctly, you will be able to sustain and grow successfully. Scaling up your business with sustainability in mind ensures that you are on solid ground.
Mastering these fundamental costs effective steps would set you on the right path towards success within affiliate marketing or any online business. You will be able to grow your business organically and be sustainable in the long run. Mastering them requires proper guidance and training. To be a doctor you would have to attend medical school and to practice law, you would have to go to law school. It is not rocket science to figure out that the same applies to become successful online. Do your due diligence and choose a training & support platform to help guide your path.
Being an entrepreneur is not easy. Associating with like-minds and networking is a how you build your network.
To learn more about affiliate marketing and essential resources please see the related post below:
- Beginners Guide To Niche Affiliate Marketing
- 37 Fundamental Tools & Resources For Affiliate Marketing
Thank you for reading, much appreciated. If you ever need a hand or have any questions, please feel free to leave them below. I will be happy to help you.
About The Author
Anthony is a UK certified business strategist and consultant. An entrepreneurship mentor and ezine published writer. He embraced entrepreneurship after experiencing an existential awakening. Anthony helps entrepreneurs, aspiring entrepreneurs and small business owners achieve success. You are invited to check out his services page and connect with him via the following social platforms: