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Twenty-four percent of Americans want to start their own hustles this year as a way to earn passive income or diversify their earning potential. After 2020, we’ve learned two important lessons: we need to be creative to stay ahead of the game, and working remotely gives us the extra time we need to launch a side business.
Affiliate marketing is one of the booming business. Adobe Analytics predicts that e-commerce will hit the trillion dollar mark for the first time in 2022. With the rise of influencers and social media platforms, affiliate marketing has quickly become one of the biggest sources income online today.
An Affiliate Merchant promotes offers or products that relate to them and/or their interests. They often look very organic, and most likely, you won’t notice it’s a promotion at all. Whether you know it or not, you’ve seen affiliate links everywhere, from subtle (or not-so-subtle) product promotions from social media influencers to the publisher’s affiliate disclosure at the beginning or end of your blog. ‘an article.
One of the biggest misconceptions about affiliate marketing is that it’s too much work. But becoming an affiliate marketer is easy and you don’t need a massive following on social media. All you need is an internet connection and a social media account. The best and fastest way to get started is with a full-service affiliate platform with a robust affiliate marketplace. My company has helped vendors connect with over 25,000 global affiliates in 40 different niches.
Here are three simple tips to help you have the most impact when you start affiliate marketing.
You need to start with the right audience
Start on a social media platform that best suits your audience and your content. The easiest place to start is with the social platform you already have, so you can tap into followers who know you first. Are you targeting an older population? Use Facebook. Do you plan to promote to a younger audience and want to focus on visually appealing or creative promotions? Use Instagram or even TikTok or Pinterest.
On your favorite social media platform, start expanding your audience beyond your family and friends. Engage with others who have similar interests to yours. If applicable, follow hashtags or join groups to find out who these people are. Create content that adds value to your audience. You can get ideas by seeing what other people are doing in space. You want to be authentic and people will naturally engage with you.
Related: How to Build a Reliable (and Profitable) Affiliate Network From Scratch
You need to focus on a niche
You don’t want to promote just any type of product. You want to be authentic and believe in the products you promote. Are you an expert on the subject? Use your certifications and use them to your advantage when partnering with products. What is your passion? Look at the content you regularly post and determine what themes are present. For example, if you share a lot of fitness photos, that’s your niche. Or take a unique life experience and translate it into products you will use.
One of the easiest ways to distinguish yourself from other affiliates is to research fringe products. These are the products and brands that think outside the box. Sure, it’s great to be passionate about a known brand, but these affiliate programs are already crowded and don’t offer high-paying commissions.
Related: 10 questions to ask before determining your target market
Be creative and promote your products for maximum revenue
The more authentic you are when promoting products, the better you will sell to your audience. Unlike influencers, affiliates can choose how they post to promote their unique affiliate links. For example, you can do a side-by-side comparison of ingredient labels between a big brand and the smaller product you’re promoting.
Promoting your product goes beyond social media, and as an affiliate you have the power to decide which other channels to use. You can capture emails to your social media accounts and send mailing lists. Or, with a little extra cash, you can create native or display ads to target people outside of your social media and messaging circles, but interested in your niche.
Depending on the platform you use to manage, affiliate marketers can earn up to 100% commission each time someone purchases through your unique affiliate link.
Related: Affiliate or Influencer Marketing: Which Should Your Business Use?