- 1 How to Start Affiliate Marketing in 2023? A Complete Guide for Beginners
- 1.1 What is affiliate marketing?
- 1.2 Commission Models:
- 1.3 STEPS TP START AFFILIATE MARKETING IN 2023:
- 1.3.1 1. Identify your niche:
- 1.3.2 2. Choose the right platform:
- 1.3.3 3. Pick profitable affiliate programs:
- 1.3.4 4. Create optimized affiliate programs:
- 1.3.5 5. Drive traffic to your affiliate site:
- 1.3.6 6. Build a simple affiliate marketing funnel:
- 1.3.7 7. Track & increase your affiliate sales:
- 1.4 ARE YOU READY TO TAKE ACTION?
How to Start Affiliate Marketing in 2023? A Complete Guide for Beginners
What is affiliate marketing? Affiliate Marketing will become the most attractive field in 2023. Thousands of merchants and publishers use affiliate marketing programs to generate million of revenue every month. The affiliate marketing jobs are attractive. Affiliate marketing strategies are the most important.
So, let’s dive into the world of affiliate marketing with this nice quote:
“ IF YOU DON’T FIND A WAY TO MAKE MONEY WHILE YOU SLEEP, YOU WILL WORK UNTIL YOU DIE.”
In order to start affiliate marketing in 2023, you just need to follow some simple steps but first of all, you need to understand some basic fundamentals of affiliate marketing.
What is affiliate marketing?
Affiliate marketing is one of the ways of promoting products or services in the field of digital marketing. So, Affiliate marketing is the process of promoting someone else’s products or services in exchange for a commission.
In other words, affiliate marketing is the process of sharing brand revenue with publishers and content creators. It is done in the exchange of leads and sales. It works like the salesperson is being paid in the form of a commission for the successful completion of the sale.
Let’s look at the overview of how affiliate marketing works:
Affiliate Marketing works like this:
- You display link or ad for ABC store on your various social media platforms, website, or blog
- Customer clicks on that link or ad
- Customer is directed to the ABC store through the tracking link or ad
- Customer is tracked with the use of cookie which is referred by you
- Customers purchase the particular product or service from the ABC store
- Affiliate network records all the things like purchase and details of payment
- Customer is sent to the ABC store for the final payment
- The transaction is credited
- You get your commission
So, this is the journey of affiliate marketing which is explained in short. Affiliate marketing jobs have attractive prices.
The commission is something which is attracted many people for choosing the affiliate marketing field. Various models are available from which you can earn a commission.
Let’s explore some of the most important commission models.
- CPM (Cost Per Thousand Impression)
- CPC (Cost Per Click)
- CPA (Cost Per Action)
- CPL (Cost Per Lead)
- CPS (Cost Per Sale)
- CPI (Cost Per Install)
- RevShare (Revenue Sharing)
Let’s understand each model in detail.
- CPM (Cost Per Thousand Impression):You can earn your website gets 1000 impressions. If you charge $3 CPM, so an advertiser must pay $3 for every 1000 impressions of its ad.
- CPC (Cost Per Click): You can earn whenever customer clicks on the link or ad related to the products or services of ABC store on your website, blogs or various social media platforms.
- CPA (Cost Per Action): You can earn whenever customer completes the particular action on the website. The actions could be filling the form with contact details, making the purchase of the product or services or starting the free trail.
- CPL (Cost Per Lead): You can earn on each lead generated for the products or services. It is displayed by you on your website, blogs or social media platforms.
- CPS (Cost Per Sale): You can earn when you made the sale of products of publisher. The commission is based on the percentage of the sales. It is a fixed amount already determined before.
- CPI (Cost Per Install): This model appeared only when smartphones or mobile applications began to emerge. You can earn for generating installations of a particular application. This model is focused on mobile traffic.
- RevShare (Revenue Sharing): The revenue share model, better known as RevShare. It is the commission model. You will receive a percentage commission on the acquisitions made by users.
So, if you want to earn the fascinating commission from affiliate marketing then you need to understand that how to start affiliate marketing in 2023?
Let’s see the different 7 steps that will guide you to start affiliate marketing in 2023.
Here are the 7 steps that you need to get right from the beginning:
STEPS TP START AFFILIATE MARKETING IN 2023:
- Identify your niche
- Choose the right platform
- Pick profitable affiliate programs
- Create optimized affiliate content
- Drive traffic to your affiliate site
- Build a simple affiliate marketing funnel
- Track & increase your affiliate sales
Let’s understand each step in detail.
1. Identify your niche:
A niche market is a segment of a large market. It is with the unique need of the customers.
So before deciding about the niche market, you need to do niche research to make sure which niche has the highest earning potential and will make money for years to come.
In the process, you will analyze the competition in a particular niche, and learn about affiliate programs available in your niche.
If you are looking for niche ideas, there are various tools available. It will help you get an idea of the various niche available.
Here are 3 tools that are the most popular for niche research:
- Google Trends: Topics and searches which are in trend and organized by geography
- Exploding Topics: An alternative of Google trends with organized results
- Answer Socrates: Find out the questions that people type into Google
Select the niche for which you are passionate or you like. Try to find the niche with the medium competitors, because there are few players.
Now let’s jump into the next step to start affiliate marketing 2023.
2. Choose the right platform:
You also need to think about the platform where you can post this content.
There are main two choices for affiliates to start posting the content.
- Website or Blog
- YouTube Channel
Ultimately, it’s great to have both a website and YouTube. You can also post a short video on your website.
3. Pick profitable affiliate programs:
You should start with a finite number of affiliate programs. It should have a good commission, good conversions, and high demand.
There are 3 most important elements of a good affiliate marketing program:
- Earning Potential: In this element, you should look for recurring commissions, Commission rate, and cookie period.
- Brand Reputation In this element, you should look for positive online reviews, sales page design, mobile responsive design, and brand recognition.
- Medium Competition: In this element, you should look for backlinks required to rank, existing competitors, and keyword volume.
4. Create optimized affiliate programs:
You need to create a website that helps audiences to make decisions about the product or services. Create your website or blog with strong copywriting and appealing design.
Some examples of high-converting affiliate marketing content include:
- Product Roundups: Can use product roundups which includes social media post, emails or blogs about those products which can be put under same category.
- Product Review: use product review, provide customer feedback or opinion about the product they purchased.
- Product Comparison: This helps customers to compare the benefits or differences between two products.
- Resource Pages: It contains helpful links and resources for a particular topic.
- Tutorials: It is the activity designed to teach specific learning process.
- Lead Magnets: It is a marketing tool that generates leads by offering a long-form resource in exchange for a prospect’s contact information.
- Deals & Coupons: It includes offers and discounts on the product.
- Gift Guides: It guides your visitors to find gifts easily.
- YouTube Videos: Can post videos on YouTube about products usage.
5. Drive traffic to your affiliate site:
There are 2 main traffic sources:
1. Paid Sources:
The traffic you get from paid ad campaigns or pay-per-click, it’s called paid traffic source. Google Ads is the most used tool for it.
There are 7 types of paid traffic sources:
- Paid Search Advertising: You will bid on the keywords used by users to get traffic and you pay only when the user clicks on it.
- Display Media Buying: The ad that will be shown on other websites to increase traffic. It’s also known as Display Ads.
- Native Ads: It matches the feel, look, and function of the media format where they appear.
- Social Media Advertising: it’s like using various social media platforms to display ads and drive traffic to your website.
- Mobile Ads: It’s the fastest-growing traffic source. Your website should have mobile responsive designs to attract more customers.
- Retargeting: It means to get those customers back who visits your site but leave without performing any action.
- Video Marketing: This means post videos on YouTube using influencers.
2. Organic Sources:
When a user searches for something on a search engine, the result is from pages containing a list of organic results. There is no cost to appear in organic results.
- SEO: It allows you to appear on the top of search engine results pages through proper keyword research & quality content.
- Email Marketing: It’s all about sending newsletters or emails for marketing to your customers weekly.
6. Build a simple affiliate marketing funnel:
You need to understand the buyer’s journey to attract more customers and also retain repeat customers.
The buyer’s journey has 4 main stages:
- Awareness: The prospective buyer has a problem and looking out for a solution.
- Consideration: The prospective buyer searches solution to a problem.
- Conversion: The prospective buyer finds a solution and makes the purchase
- Loyalty: The buyer repeats purchases, which leads to trust
So, after understanding the buyer’s journey you can convert your traffic into potential buyers.
7. Track & increase your affiliate sales:
Finally, after collecting all the ingredients and finishing the fish, it’s time to taste it. So, It’s time to track your affiliate programs’ results. It’s one of the most important steps to becoming an affiliate marketing program.
If you don’t track your sales then it’s like throwing the ball in the dark and then expecting it to hit six.
ARE YOU READY TO TAKE ACTION?
Hopefully, this blog will guide you about how to start affiliate marketing in 2023.
Affiliate marketing jobs have attractive payments. So, perform all the steps to start affiliate marketing in 2023 and earn attractive commissions.