Affiliate Marketing – 5 Tips for Success
Posted on 3rd August, 2007
Joining an affiliate program is easy, making money from it isn’t. The following tips will help you plan your journey towards affiliate marketing success.
- Focus In A Few Products and Sell Them Very Well
When it comes to selling products from their websites, some affiliates have the tendency to try to offer everything under the sun.
A website with tons of products and services to offer is tricky venture to succeed with, unless you can direct targeted traffic to a specific product page.
And unless you have an ecommerce website like Amazon.com, you’ll do better if you focus on a few products and sell them very well. Then follow up to offer other products and services.
- Sell Products with Good Profit Margin
Let say you are an Amazon.com affiliate and you want to make $1000 per month selling books. They pay between 4% to 8.50% commission depending on the volume of sales.
A book that cost $30 will give you $1.2 commission for each sale. Based on Amazon referral fee structure, you’ll have to sell 477 of that $30 book to reach your $1000 target.
Now compare that to a $97 ebook that offers 30% commission which earns you $29.10 per sale. To make $1000 per month, you would have to sell only 35 of them instead of 477.
It’s not hard to see it’s easier to sell 35 products than 477. In fact, it actually takes the same effort to market a cheaper book than an expensive one.
If you think you are unable to sell a higher priced item right off the bat, start with a cheaper entry product. Then follow up with the more expensive products later after you have built up the trust and brand awareness needed to sell more expensive products.
- Put Your Products in the Spotlight
Putting up banner ads and hope your visitors would simply clicks them and purchase the product would guarantee a tiny commission.
Pay attention to your banners click through rates (CTR). You’ll be lucky to get 1%, most sites average between 0.1% and 0.5%.
If you have 1000 visitors to your site per day and, only 1 to 5 people will click on the banner, with a conversation rate of say 1%, you’ll need 100 clicks just to make one sale.
That means, you’ll get 100 clicks for every 20,000 visitors or in other words, you will only make one sale for every 20 days. Now if you are selling a $30 book from Amazon.com, that will generate $1.2 in commission. Not very exciting is it?
Certainly there are better ways to monetize the 20,000 visitors. So don’t just put up a banner ad and hope for the best.
- Update Your Content Frequently With Useful ContentUpdating your content is one thing, but creating useful content to your visitors is another thing all together. Selling affiliate products from a blog requires a slightly different approach than selling from a dedicated e-commerce site. In a blog, your best strategy should be to write useful product reviews with your affiliate links included. In an ecommerce site, keep adding new products that sell well, and perhaps offer a review too. If you are able to target visitors who are in the buying mindset, your product review will close the deal.
- Get Targeted Visitors
This is one of the most important steps that ensures your success in affiliate marketing. With the right visitors, you can make thousand of dollars from a website that gets 100 visitors per day provided that they are there for one and one thing only and that is to buy your product.
You can try selling everything under the sun with the hope that the volume will do you justice. Sadly, affiliate marketing is not about volume, it’s about getting the right audience to market your products to. Only then you can concentrate on improving your volume.
If you are trying to sell to everyone, you will end up selling to no one.