There are good affiliate marketing business opportunities.
We have talked about them in the past. In fact, we have provided you with a review of the top 10 affiliate marketing business opportunities. This review gave you the best points about those affiliate programs.
This article will focus on 2 key areas that help your affiliate marketing business opportunities to be more of a success. Building a good website is key to making your affiliate opportunity a lot better.
We will give you some tips and pointers on how to build a good website so you can turn your visitors into paying customers. Then we will look at partnering up wit the right merchants and build your revenue stream.
In addition, we will provide you with other information that will help you make the most out of your affiliate marketing business opportunities.
The key is to see and understand how everything works together. You can have a myriad of business opportunities but if you misuse them, then you have just wasted your time.
To make the make the most out of affiliate marketing, just continue to read. It will only take a few minutes of your time to get the information you need.
Finding The Right Affiliate Marketing Program
This is where your affiliate business opportunities will come from. If you find the right affiliate program, you will be overwhelmed by the many business opportunities they have waiting for you.
The hundreds of thousands of niches and product lines they have listed are all business opportunities for you. As you know and we have explained many times before, finding the right niche is one of the keys to making the most out of your new affiliate marketing career.
You can check our review of the top 10 affiliate programs and see for yourself how many opportunities are available for you. Or you can go outside of that list and check out the many affiliate programs that are making their mark on the Internet consumer market.
Interested In Affiliate Marketing?
This community helped me and more than 1.5 million of others reach success, and you can start for free.
Affiliate Marketing Statistics
The following statistics will give you an idea of how many affiliate marketing opportunities are out there. It is a trend that does not show any signs of slowing down any time soon.
- A lot of money is spent on affiliate marketing - as of 2 years ago the figure was 5.3 billion dollars. The forecast for 2020 is 6.8 billion dollars.
- Name brands use affiliate marketing - in fact 81% of all brand names use this marketing option to get their products sold.
- The search for affiliate marketing is rising - in the past year or so those using the terms affiliate marketing for their keyword search has risen 30%.
- Revenue through affiliate marketing has risen 20% - it should keep on growing as more and more people get connected.
- Affiliate marketing works - 16% of all Internet sales comes through affiliate marketers.
- It is possible to make money - one affiliate marketer made $7 million in one year. Not everybody does though.
- Commissions range - depending on your merchant partner, you can make high commissions. But you can also make low ones as well.
The statistics demonstrate that there is still a lot of room for more affiliate marketers and that there is still plenty of affiliate marketing business opportunities.
Picking A Name For Your Affiliate Marketing Business
Part of doing business whether it is in traditional methods or through affiliate marketing is giving it a good name. You can waste your business opportunity by choosing the wrong name, by offending someone with your business name or if it just doesn’t make sense.
Here are some tips on how to choose the right name for your new affiliate marketing business:
- Short and simple - you want a business name that is easy to remember. For example Nike is easier to remember than the ‘just do it shoes’.
- Pick an appropriate name - by this we mean that you should choose a name that will make sense if you start to expand the product line you are representing. For example, you do not pick a name that says John’s Tools then expand your product line by carrying athletic equipment.
- Stick to common sense - you do not want to be too clever or cute. You may end up sending the wrong message or your readers won’t understand what you are trying to say.
Building Your Website
After you get your niche and your business name, you will have to build your website. Some affiliate programs have the tools to help you do that.
This will save you the time and trouble of trying to find a website builder, a website host and a domain name registration company.
There is a lot of detail here but it is important to know the details so you can build an effective website.
#1. Make sure you understand how affiliate marketing works. This helps you get the details you need in your website.
#2. Be prepared for some investment - things in this life are not always free. You will need to spend money on a domain name, web host, and other aspects of this part of your business opportunity.
#3. Pick a domain name - this is your URL and it brings people to your website. Also find a good web hosting plan and there are many on the Internet already.
#4. Install WordPress - if you pick a web hosting company you should be able to install WordPress very easily. Just make sure to have a good password you want to use.
#5. Select your theme and choose a business or personal account. Once you made that selection, click on the launch button to get your website up and running. Themes are important:
- It has to fit your content and be appealing
- It needs to be responsive and fit smaller screens
- You want one that supports images
#6. Select a name for your website - this can be your business name and do not forget to add a little description to it so your visitors know what your website is all about.
#7. Provide content prior to using the different advertising credits you are given. This can be done in a variety of ways and depends on which website format you choose.
Here are 4 website formats you can use in your affiliate marketing business:
- Personal affiliate blog - this is where you use your personal expertise, knowledge and experience to create top quality content.
- Product review site - here you do articles like top 10 hammers, etc. You review different products.
- Authority website - the content here is respected by professionals in your niche and provides real content and not just your views, etc.
- Price comparison site - as the name says you compare prices and pass the information on to your readers.
#8. You may have to learn how to create a good home page, about us page, or even a good landing page.
Remember, algorithms today are focusing on how much quality is in your content, so be prepared to research and write good material.
How To Partner With Merchants And Earn Revenue
When you decide on your affiliate marketing scheme and build your website, you need to partner with different merchants. This partnership is how you make your money.
There are several steps to take to establish a good partnership between yourself and the merchant:
Step #1: Pick a good affiliate program
If you go with a good affiliate program, they will already have a list of good merchants willing to work with affiliates. You just have to select from that list. The key of course is not to pick a bad merchant.
Step #2: Pick a relevant merchant
In your chosen niche there may be thousands of merchants selling similar products, You need to find the merchant that is most relevant to your content. With no set rules to guide you here, you have to go on gut instinct or good business sense. Both of those require a solid knowledge of your audience and what they are looking for.
Step #3: Check the commission structure
You want to get paid, so you need to know how much money the merchant is willing to pay in commissions. This rate can be either a straight dollar figure or a percentage. Of course, you need to promote a product that is relevant to your audience so you may have to pass up on higher commission rates to get the right product for your readers.
Also, some merchants may pay out bonuses so see if their products fit with your content and your readers.
Step #4: Did you get the right tools
The tools you receive to help direct traffic to your merchant partner comes from your partner. Look for those merchants that offer you good tools to use, so your ads for them can be creative, attractive and help produce traffic.
Step #5: Cookies and merchants
Cookies are how you are basically paid. These cookies track your reader and are placed on their computer when they click on one of your ads. If your reader clicks on an ad but does not buy, you may lose the sale if they go directly to the merchant’s website bypassing your site.
You want a merchant that will allow long term cookies so you can still get paid when this takes place.
Step #6: The more payment options the better
Once in a while a merchant may offer payment through a few payment methods. The bad news is that most merchants use the most common method and avoid the other two. If you can find that rare merchant, all the better.
Here are the 3 payment methods:
- Pay per sale - this is the most common method
- Pay per lead - this is a little less common
- Pay per click - this is the rarest of them all
What Do Affiliate Programs Do
You get a lot of business opportunities through affiliate programs. Yet some people try to make direct contact with the merchant, bypassing the affiliate program. Here is why that is not a good idea:
- Affiliate programs provide the leads and business opportunities you may never hear about. They match you up and let you know all the business details, including commission rates.
- They handle all the business details involved in the partnership including paying you.
- Affiliate programs protect you - they make sure you get the proper credit and that you get paid.
Why Do Merchants Use Affiliate Programs
The basic reason is that it takes time to set up the business details to make direct contact worthwhile. In any business, time is money and the more time a business has to take to set up the program, the less money they make.
There are to many aspects to monitor,maintain, and then track sales to make sure the right affiliate gets the right amount of money. The cost of doing this may also cut into your commission rates and you earn less money.
We believe that affiliate marketing is still very effective and you can learn more about that in our post.
You may become overwhelmed by all the extra duties you have to do on top of creating good content and other aspects for your affiliate business. The loss of time means that you may not create the quality of content your website needs to attract and drive customers to your partner.
One Of The Dangers Of Doing Affiliate Marketing
Affiliate marketing is not without its risks. You can partner with a bad merchant who is not on the level and is only trying to scam people out of money. When this happens, your reputation takes a big hit and you may lose your audience as well as your readers.
It won’t matter how good your content is, you will be associated with a scam artists and lots of people use guilt by association to change their Internet habits. But there is one other risk you should know about.
It is called reversal rates. This is where your commission is canceled and the money you thought you earned is returned to the merchant. Why this happens depends on a few common reasons:
- The customer canceled the order for whatever reason they may have had. Your merchant partner returned their money.
- A customer’s credit card was charged twice. When this happens the money needs to be refunded as does your duplicate commission fee.
- It was a fake transaction. This can happen in a number of ways including the unauthorized use of someone’s credit card. Again you will lose your commission when this happens.
- You violated the affiliate partnership policy in some way. You need to make sure you follow any affiliate policy correctly or lose the money you want to earn.
The good news out of all of this is that return rates are not that high. Usually, they remain in the single digits and in most cases do not go above 1% of all transactions completed.
Now if you see a merchant that has a high % of return rate transactions, it might be a wise idea to not partner with them. This high return rate is a red flag and sends you a warning about the merchant.
Learning About Affiliate Tracking
When you get your affiliate business opportunity up and running there is one more important aspect you need to understand completely. That aspect is the affiliate tracking system.
To do affiliate marketing, you need to have 2 items. The first item is the affiliate link and the second is the cookie. How the system works may seem a bit complicated but we will try to keep it simple.
In the affiliate link you have a cookie. On this cookie is key information that identifies your link as the one responsible for the click and possibly the purchase. The cookie is placed on your reader’s computer when they click on your affiliate link.
Your ID is now on your reader’s computer. Along with that information, the cookie also has what is called parameters. This helps your affiliate partner track your reader’s activities and subsequent purchase. When they make a purchase, you get the credit.
Start With Affiliate Marketing
The majority of your affiliate business opportunities will come from the affiliate program you signed up with. They handle the connection and get you started on your new career.
One of the better affiliate programs to go with is Wealthy Affiliate. Their team of professionals have trained over 1.5 million affiliates just like you. They can help you get the business opportunities you need.
They can also help you build your website, host it and get you a proper domain name. Your affiliate business opportunities are handled by one company that knows the affiliate business quite well.
When you want to be a success, you go with those people who know what they are doing and can set you up with the right business opportunity for you. Don’t trust your affiliate marketing career to anyone else.
Try it out for FREE now.
Thank you for reading. Let me know in the comments below, what do you think about affiliate marketing and how much success you had.