Instead, he focused solely on one platform. When that platform fizzled out, he lost his foundation and his footing as an affiliate marketer. He was unable to reach the people who had once been visiting his website because he was now nowhere to be found. Had he diversified, he wouldn't have gone through the massive pain related to that ranking change.
On the other hand: the main reason of bankruptcy for small businesses is bad financial management. Simply said: to forget to make invoices, not checking the payments and not following bad payers. 1 out of 3 is going bankrupt for this reason alone. I had to learn it myself. I spend at least 10% of my time with financial stuff. I don’t love it but the bills get payed ;-)
What’s your passion? The subject that you talk, write and read about day-in and day-out is a good contender for your passion. It doesn’t have to be overly broad like wine reviews. A sharper focus, say West Coast Wine Reviews, can be a better place to start when learning how to affiliate market. In fact, a narrow focus can help your site appear high in the search engines and stand out in social media, which we’ll get to later. For now, start by listing the topics that interest you, starting with the ones you’re knowledgeable about.
It’s important to do some research into both your potential Influencer and their followers to see if this affiliate partnership is a good fit. While there’s no need to go over-board and nit-pick every single post, scrolling through and reading the comments on a few dozen will give you a good sense of whether this Influencer is right for your business.
Cost per action/sale methods require that referred visitors do more than visit the advertiser's website before the affiliate receives a commission. The advertiser must convert that visitor first. It is in the best interest of the affiliate to send the most closely targeted traffic to the advertiser as possible to increase the chance of a conversion. The risk and loss are shared between the affiliate and the advertiser.
I did a lot of research to find the right one, and so I chose Making Sense of Affiliate Marketing by Michelle Schroeder-Gardner (as I mentioned earlier). I figured it made sense to learn from the best, and with a 30 day satisfaction guarantee, I had nothing to lose. I chat WAY more in-depth about it in my review here, but this course was definitely a gamechanger for me.
Before we can get into affiliate links, first we need to talk about the affiliate program. An affiliate program is hosted by a company that wants to use marketers who are not employed by the company to promote their product or service. These marketers, and their social media accounts, are often related to the product or niche in some way. For example, a health blogger might sign up for an affiliate program promoting vitamins.
According to the Federal Trade Commission (FTC), you must disclose that you’re an affiliate anytime you promote affiliate products. Why? It’s to protect consumers from being misled. If they know you’re getting paid, they can make a more informed decision about whether to buy a product. Let’s say someone recommends you buy a DJI Mavic Pro drone, raving about all the amazing features. You’re immediately interested. Then you learn that the recommender is a brand ambassador for DJI. Wouldn’t that make scrutinize what they said? Maybe do more research? That’s the point of disclosures.
In this video, I explain why Amazon Affiliate Marketing is best for beginners, and how to get into the industry. The reason why I love this program so much is because it has much lower competition overall, and you don't have to "sell" people on things. Amazon's powerhouse strategy does all the lifting for you. I also reveal some tips you can use to increase your conversion rates with your affiliate websites.
Along with that, Amazon is a complete SELLING MACHINE! What I mean by that, is they have drilled their conversion rates down to the last detail. Typically I can convert traffic I send to Amazon from my affiliate sites around 12%. The reason why it works so well is that the moment people land on Amazon, they are automatically switched into "buyer mode". Meaning, they know the only thing left for them to do is BUY. What that means, is all you have to do is get people to Amazon's site, and they literally do the selling for you.
But beyond these specific points, promoting affiliate products on Amazon really involves the same ground rules that apply to affiliate marketing in any form or on any other site or network. That is, know the products you’re promoting, be honest in how you represent those products, and give people enough information to make an informed decision about the product.
ps. collecting these Facebook polls is one of the main reasons I was able to get so many SiteGround sales. Yes, I’m suggesting SiteGround for your host, but this is also a strategy that can be used to collect unbiased reviews. Just go to Facebook and search “SiteGround poll” and you can dig up some great stuff – you can do this with lots of affiliate products/companies.
Very useful info, and thanks for the heads-up about Etsy not allowing affiliate links on Pinterest! Have you ever tried advertising on Pinterest, i.e. paying Pinterest to promote your pins? I was wondering if that could be lucrative with affiliate marketing, where the margins are always lower than when you have your own product to sell. I’m also wondering if it would be lucrative to advertise on Google, Facebook and Youtube (found this guy who supposedly made a lot of money that way – https://moneytestimonials.com/crestani-free-webinar/ ). I’ll probably do my own experiments with this but if you have experience in this area I’d be very interested to hear about it!