In affiliate marketing, you start selling other people’s products online. Every product owner will pay its affiliates a part of the transaction which can amount to anything upto 75% of the cost of the product. Most of the affiliates with the right tools and knowledge can earn anything up to ten thousand dollars every month from affiliate programs.
But a majority of the affiliates fail miserably in their affiliate efforts or earn insignificant amount of money. Here are some of the Secrets of Success in affiliate marketing:
Secret #1: Treat Affiliate Marketing as a Business
This way, you will be able to give more due and attention to your campaigns. Market an affiliate product as if it were your own. Build a business around it, pre-sell the product by having a pitch page of your own, offer free stuff, follow up and have backend offers to maximize profits from every product you promote. Following this cycle is the Formula of Success in Affiliate Marketing.
Secret #2: Promote Quality Information Products
People are hungry for information. Every day, millions of people are searching online for information. If you really want to make money fast, then I highly recommend that you start selling information products. These products are available for immediate download, have high profit margins and affiliates earn high commissions. If you want to search for information products, visit Clickbank.com, open an account and enter ClickBank Marketplace.
Secret #3: Pick up the right products
Choose products that pay about 50% of the sales. Also look for % referred for the product. Anything above 50% is a reasonably good figure. You can search Top 10 products by category i.e. popularity, gravity, $ earned/sale, % earned/sale and % referred.
It may work out that you have chosen a product, but there is very high competition for that product which may force you to pay a very high CPC price. You can chose products for which there is less competition but you still have good chances of making good money as a lot of people are searching for those keywords. Remember, this exercise will involve a lot of home work by carrying out the market analysis. If you have time to spare, ‘https://adwords.google.com/select/KeywordToolExternal’ can help you to some extent. But I recommend Keyword Elite.
Secret #4: Know your Product
If you want to be successful in affiliate marketing, you have to know the products you are promoting. One option is that you buy the product. That will make your task of selling the product easier as you know the product and so can easily convince the people to buy it.
If you don’t want to buy the product, do a good research about the product by going to merchant’s site and know everything about it. Giving your unbiased opinion or review is the best way to warm your prospects up for better sales.
Secret #5: Create quality Ads
This task requires a lot of involvement and innovation on your part. First you have to choose how to advertise your product. PPC advertising is the best bet as your Ads are seen by only targeted visitors. Few points you should keep in mind for while writing your Ads are:
1. AdWords allow a limited amount of text in Ads. Hence ‘brevity’ is the keyword.
2. The only way to stand out from the rest is to be different.
3. Always pre-sell your product with your pitch page.
4. Instill some sort of urgency in your prospects for buying in some limited time.
5. Always bring out free offers if any.
Secret #6: Capture Leads First
Fewer than 5% of the people those see your Ads will buy the product on the first visit. So what happens to the 95% or more who don’t buy?
Another big mistake that people generally make is spending time and money on advertising and send buyers directly to a product owner’s website.
The truth is…If you aren’t capturing your visitor’s name and email address, you’re wasting your money on advertising.
For long-term success in affiliate marketing, you must build an opt-in list of buyers…people who trust you and purchase the products you recommend. You can sell multiple products to the same prospects and maximize your advertising efforts. All you need is a simple pitch page to capture leads and an autoresponder.
Secret #7: Offer a Strong Incentive
If you want people to opt in to your list, you have to give them a strong incentive. If you can create a PDF report on a high-demand topic that’s actually good enough to sell and then give it away, people will like to download it. But how much information you should give away in your free product. Give your customers just sufficient information to make them want more and then recommend a product that fulfills their needs.
Secret #8: Track Your Ads
Tracking is critical for determining how well you’re converting visitors to leads and leads to sales. Sometimes you just need to tweak your ad copy and run the ad again for better results. You may also like to disable the keywords which are not converting.
You need to know how many visitors, leads and sales you get for each ad you place so you can determine whether or not you want to keep using that traffic source or discard it.