There are many different ways to make money online, but affiliate marketing stands out due to it being low-risk, flexible, and highly profitable. Moreover, this online business model doesn’t require a large budget or advanced technical knowledge to get started.
This article will show you a step-by-step guide to building a successful affiliate business, from picking the right niche and affiliate program to tracking its performance.
1. Choose Your Niche and Platform
The first step to building a successful affiliate marketing strategy is to select a segmented target market or topic, also known as a niche. For example, Pragya Piparsania, the owner of Yum Curry, focuses her content on Indian food. This approach helps determine the business’ specialty and build expertise.
Start with your passion to make the affiliate marketing journey enjoyable. Then, analyze competitors and do market research to understand your audience’s needs and address them.
The next step is to select a platform to share your content. The two main options are social media and an affiliate website.
Running an affiliate business on social media is practical, especially if you already have a significant following. It’s easy to set up and you’ll immediately gain access to over four billion social media users worldwide as potential customers, providing a broad market reach.
However, we recommend creating your own website, as well. Although purchasing web hosting and designing an entire site seems daunting, an affiliate website makes your business look more professional and credible. In fact, more than 70% of online shoppers check affiliate websites before purchasing.
2. Research High-Paying Affiliate Programs
After picking a niche and platform, it’s time to research the best affiliate programs to join. Below, we share five of the highest-paying affiliate programs to filter your options:
- Coursera. Recommend online courses to your audience and receive a 10%-45% commission per sale. Depending on the product, course prices start between $9.99 and $39.
- TripAdvisor. It’s a great affiliate program for a travel affiliate marketer. TripAdvisor will pay based on user clicks on your links or ads. The earnings depend on various factors, like the booking partner and time of year.
- Semrush. This search engine optimization (SEO) tool has a popular affiliate program perfect for those in the online marketing industry. Join its program with a 120-day cookie life and receive $200 per subscription.
- Fiverr. It offers a dedicated affiliate manager and has various products and services to promote, including freelancing services and courses. You can get up to $150 of commission depending on the product you sell.
- Capitalist Exploits. If your target audience is investors or business entrepreneurs, this affiliate program might suit you. It provides trade recommendations and 50% commission for affiliate marketers with a 365-day cookie duration.
Besides in-house programs, consider researching affiliate marketing networks. These platforms gather several merchants in one place, offering you many brands to endorse without needing to sign up for multiple programs. Examples are the CJ Affiliate network and ShareASale.
3. Select Your Affiliate Program
With abundant options, choosing the right affiliate marketing program for you may sound overwhelming. Follow these tips to narrow down the best affiliate program and generate income:
- Make sure the affiliate merchant has a good reputation.
- Work with brands relevant to your niche.
- Read the terms and conditions carefully, especially the criteria for eligible transactions.
- For beginners, consider choosing programs with dedicated affiliate managers to get professional support and assistance.
Note that it’s possible to join multiple programs and diversify your income sources, such as by combining affiliate networks and in-house programs.
4. Create and Optimize the Affiliate Content
Content marketing is one of the most effective affiliate marketing efforts. It helps you earn trust, improve site rankings, and guide the audience to make the right choice.
To start a content-driven digital marketing strategy, conduct keyword research to understand what people are searching for in your niche. Then, start creating high-quality content and include your unique affiliate link.
Some popular content types for an affiliate website or social media platforms are:
- Tutorials and how-tos.
- Product reviews, recommendations, and comparisons.
- Gift guides.
- Daily or weekly deals.
5. Track Your Affiliate Revenue
After launching your affiliate business, properly track its progress and analyze the results.
Many affiliate programs offer an analytics dashboard to highlight essential metrics, such as your total affiliate income and links generating the most clicks or sales. Consider using tools like Post Affiliate Pro and Voluum to evaluate your affiliate campaigns across different channels.
We also recommend analyzing the content performance by checking your website and social media insights. Google Analytics is a popular tool providing web traffic statistics that can also track affiliate links on your website.
Conclusion
Affiliate marketing is an excellent way to earn money online. Start your affiliate business by choosing a niche and platform. You can create an affiliate website to establish a more professional image or opt for social media for an easier setup and broader potential audience.
Then, join high-paying affiliate programs. Ensure they are from reputable brands and are relevant to your niche. Finally, publish your content and insert the affiliate links, and ensure to analyze the performance regularly.
Good luck with your new affiliate business!
