AFFILIATE MARKETING
8 Things I Wish I’d Known Before Starting Affiliate Marketing
Opinions expressed by Entrepreneur contributors are their own.
Affiliate marketing is one of the most interesting and lucrative industries on the Internet, in which commissions are earned from promoting a company and/or driving a sale. It consists of a vigorous hub of web publishers who want to monetize their sites, and is a great opportunity for marketers and advertisers to partner with others to promote their products, services, brands or affiliate programs. I have been involved in this field as an affiliate marketer since 2007, and can safely say that I love what I do, not least because it allows me to connect directly with my audience without having many intermediaries.
However, there are a few things I wish I had known before I started.
1. Track success metrics
There is no way to grow an affiliate website or earn more from it if you don’t know how many visitors visit that site every day, and where they come from. Therefore, it’s critical to track analytics and determine which marketing channels are bringing in the most traffic so that you know where to focus efforts when it comes to promoting affiliate offers.
Here are some of the metrics you need to track:
- Monthly visits and unique daily visitors. The more your site gets, the higher chances there are for making sales.
- How many sales did you garner this week? Track each affiliate offer’s performance to determine which offers are converting the best.
- How much was earned from each offer? It’s vital to track how many sales are generated from each affiliate program, since every publisher gets a different commission from selling the same product. This will help determine which affiliate network and products convert better for your site or blog, and to make better offers to get yet more sales.
- Which countries are visitors from? This metric will indicate which country’s audience converts better to yours, and so help select the right offers for your market.
Related: Top Social-Media Marketing Essentials for Small Businesses
2. Don’t expect huge earnings overnight
If you’re just starting out as an affiliate marketer, don’t expect success too quickly, because thousands of web publishers have been doing this for years, yet still struggle to find revenue. I’m not suggesting avoiding goals, merely that it’s important to be patient and to work enduringly hard in order to see significant results. This is a business like any other, so income will depend on how much time, effort and patience you’re willing to invest.
3. Never stop learning
One of the most important lessons I’ve internalized over years as an affiliate marketer is that there is no end to learning or knowledge sharing. This industry changes very quickly; new trends appear all the time, and old ones die out quickly. So-called gurus retire their affiliate sites every few months only to launch new ones, so you need to be ready to take advantage of changes and to spend resources on learning — absorbing affiliate marketing blog posts, interviews and case studies along the way.
4. Avoid overvaluing your product or service
One of the first things many marketers do when they start an affiliate website is to promote their own products and services, but it’s important not to overvalue them, because this will only backfire in the long run. Remember that you need your audience more than they need you, so provide valuable resources, information and insights that will help them to solve their problems. Start by building authority in a niche, share free content consistently and get involved in the community. Then, once you get real traffic coming to your site, create an offer that’s closely related to what you’ve already shared on your blog or website.
Related: 4 Fool-Proof Steps to Getting Your Authority Marketing Off The Ground
5. Don’t sell visitors short
One of the biggest mistakes I see affiliate marketers making repeatedly is trying to sell their visitors short instead of providing high-quality offers that match well with what they want and need. For example, if someone is looking for a dog bed or a leash, they wouldn’t buy an offer related to yoga classes, because it’s completely irrelevant and doesn’t match what they’re searching for. So, before trying to sell your visitors something, make sure that you’ve done research and arrived at offers that closely match what an audience is looking for.
6. Embrace testing
Another blunder I see often is guessing what works best instead of testing ideas before investing time, effort and money. This is why I suggest A/B testing tools for at least some campaigns, as they will give valuable insights on what’s working right now, without any risks.
7. Don’t leave money on the table
Many affiliate marketers are quick to start promoting a new offer the moment it goes live. Still, they fail to fully optimize and promote before making it available. In many cases, this means that you’ll be leaving a lot of money on the table by not testing your landing page, images, copy and ad copy first. This doesn’t necessarily mean spending days or weeks running A/B tests, but at least try to split-test before promoting an offer broadly. This will give you a better chance of converting more visitors into subscribers or buyers, because you’ve taken the time to work on optimizing everything from start to finish. This is the process I use for every new campaign for my online shop, and it works like a charm.
8. Don’t be afraid to give up
Lastly, remember that it is not a vice to give up on something that’s clearly not working. Even though it might be hard to walk away from an affiliate campaign or website, it’s vital to ask if results are worth the time and effort, then possibly put that energy into something that has a better chance of succeeding. Don’t let others make you feel bad about switching things up, because there is no such thing as doing everything right, so just do what makes sense.
Related: How Affiliate Marketing Can Work for Entrepreneurs
At the end of the day, there is no absolute right or wrong way to do affiliate marketing, but you should at least have a rough plan — one that includes knowing how much you’re willing to spend on advertising, where your niche traffic is coming from and what offers are converting best. The more time and effort you invest into learning and testing everything first, the more likely it is that you’ll succeed.
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AFFILIATE MARKETING
Cut Costs, Not Features with This Microsoft Bundle Deal
Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.
Software subscription fees can quickly add up, and for small-business owners, entrepreneurs, or freelancers, these costs can eat into profits. Businesses spend approximately 29% of their IT budgets on software, according to a 2023 survey by Gartner.
For business professionals who are looking to streamline workflow without paying steep subscription fees, the Ultimate 2019 Microsoft Bundle might be the perfect solution. For just $71.94 (regularly $927), this comprehensive four-part bundle offers Microsoft Office Professional Plus 2019, Windows 11 Pro, Project 2019, and Visio 2019.
While it’s not the newest version of Microsoft’s software, it can deliver tremendous value for anyone seeking tools to manage their business, boost productivity, and work efficiently. The bundle offers a lifetime license, meaning you’ll get all the functionality you need without the recurring costs associated with subscription services like Microsoft 365.
However, it does come with Windows 11 Pro, which includes the recent AI updates. Windows 11 Pro delivers a modern, intuitive interface with enhanced security features such as biometric login and Smart App Control, making it ideal for professionals who prioritize privacy and usability. It’s also equipped with tools that support multitasking, such as Snap Layouts and Virtual Desktops.
For companies looking to reduce overhead without compromising essential functionality, making a one-time purchase of slightly older software is a smart financial move. This includes Office’s most popular productivity tools, Word, Excel, PowerPoint, and Outlook.
Project 2019 is a must-have for anyone who is managing large or small projects. It helps track tasks, timelines, and resources, making it easier to stay on top of deadlines and ensure your team moves in the right direction. Project 2019 gives you the tools to streamline processes and manage tasks efficiently.
Visio 2019 is ideal for creating professional diagrams, flowcharts, and organizational charts. It’s particularly valuable for visualizing complex data or workflows, which is essential for business owners looking to improve operational efficiency.
If you need a productivity boost without eating into savings, take a closer look at this bundle.
Get the Ultimate 2019 Microsoft Bundle with Office, Project, Visio, and Windows 11 Pro for $71.94 (regularly $927).
StackSocial prices subject to change.
AFFILIATE MARKETING
3 Trends That Will Change the Future of Entrepreneurship
Opinions expressed by Entrepreneur contributors are their own.
The most recent data from the new Global Entrepreneurship Monitor report reveals a powerful trend for the future of entrepreneurship.
Young adults, aged 18-24, had both the highest entrepreneurial activity and entrepreneurial intentions in the United States, according to the Global Entrepreneurship Monitor 2023-2024 United States Report. With similar results in 2022, this is not just a minor shift — it’s a fundamental change that could have lasting impacts on the economy and society.
I serve as the chair of the board for the Global Entrepreneurship Research Association, the entity that oversees GEM, which was founded in 1999 as a joint venture of Babson College and the London Business School. As the GEM U.S. team co-leader and a professor of entrepreneurship at Babson, I see firsthand the impact of the research created by the Global Entrepreneurship Monitor.
Here are three entrepreneurship trends from the new GEM report that are changing the landscape for the future.
Related: 21 Success Tips for Young and Aspiring Entrepreneurs
1. Young entrepreneurs on the rise
For years, entrepreneurship has been dominated by older, more experienced individuals, but this year’s report shows that the youngest adults are now at the forefront. According to GEM, 24% of 18- to 24-year-olds are engaged in some form of entrepreneurial activity, a higher rate than any other age group. What’s driving these young entrepreneurs is equally remarkable: They aren’t just starting businesses to make money; many are deeply committed to making a positive impact on society and the environment.
These young entrepreneurs make sustainability a key priority. They are more likely than entrepreneurs from older generations to build businesses with sustainability as a core focus — whether that means reducing their environmental footprint or focusing on social causes. This shift toward impact-driven entrepreneurship isn’t just anecdotal. GEM data shows a significant number of young entrepreneurs taking real, measurable steps to create businesses that align with their values. With sustainability as their north star, young entrepreneurs appear to be simultaneously pursuing societal impact as well as profits.
However, it’s not all smooth sailing. While young people are leading the way in starting businesses, they are also discontinuing them at higher rates than their older counterparts. The discontinuation rate for 18- to 24-year-olds is 15%, the highest among all age groups. This is not surprising, given the challenges of inexperience and more limited access to capital. Starting a business is tough, and sustaining one is even more challenging. But despite these hurdles, the enthusiasm and energy that young people bring to entrepreneurship are undeniable, and with the right support, this generation has the potential to drive substantial change.
2. Tech gender gap narrows
One of the most promising findings in the GEM report is the narrowing gender gap in the technology sector. Historically, tech startups have been dominated by men, but 2023 saw a record-low difference in the number of men and women starting tech companies. The gap has narrowed to just 1%, with 8% of women compared with 9% of men launching businesses in the Information and Communication Technology (ICT) sector.
This is a significant step forward and reflects broader efforts to support more women technology startups. Still, it’s important to recognize that while progress is being made, continued focus on providing equal opportunities is essential to ensuring this trend continues.
3. Optimistic outlook for Black and Hispanic entrepreneurs
Another highlight from the report is the optimistic outlook among Black and Hispanic entrepreneurs. These groups showed stronger confidence in their entrepreneurial abilities and lower fear of failure compared to their white counterparts. Black respondents, in particular, demonstrated high levels of resilience and self-assurance, which is vital in overcoming barriers faced in starting and sustaining businesses. This optimism is encouraging, but there’s still much work to be done in assuring ecosystems offer equal opportunities for all aspiring entrepreneurs, regardless of their background.
Related: I Wish I Received This Advice as a Young Entrepreneur
A promising future
Reflecting on the key findings of this year’s GEM report, it’s clear that the entrepreneurial landscape is changing in meaningful ways. The rise of young, sustainability-driven entrepreneurs signals a future where business is not only about profit but also about making a difference. These young entrepreneurs are launching businesses at a time when the world is looking for solutions to some of its most pressing challenges — climate change, poverty and economic recovery.
Yet, to fully realize the potential of this next generation, there must be more focus on addressing the challenges they encounter. Young entrepreneurs need access to the right resources — whether it’s funding, education or mentorship — to turn their innovative ideas into sustainable businesses. The narrowing gender gap in tech is encouraging, but we must continue to foster environments that support women and other underrepresented groups in entrepreneurship.
The GEM report paints a picture of an entrepreneurial future driven by purpose, diversity and innovation. But it also reminds us of the work that lies ahead in making entrepreneurship more accessible and sustainable. If we can provide young entrepreneurs with the tools and support they need, we will not only see more businesses being created — we’ll see businesses that are making a lasting, positive impact on the world.
AFFILIATE MARKETING
These Are the Top Side Hustles to Work Less, Make More Money
In the best-case scenario, a side hustle could turn into a multimillion-dollar business that generates a passive income stream — but at the very least, starting a side gig could help pay some bills.
A new survey from personal finance software company Quicken shows that almost half (43%) of Americans with a side hustle, or an extra source of income added to a primary income, make more money and clock in fewer hours overall than those without a side hustle.
The three most popular side hustles pursued by those who work less and make more money were personal assistance (20%), cooking and baking (16%), and caregiving (16%). One in five people with side hustles said they were business owners, too, selling products online or offering services like photography.
The majority of people with side hustles (82%) said starting a side gig helped them financially, and kept them from living paycheck to paycheck. Most with side hustles (57%) had savings equal to at least four months of living expenses.
The survey also found that, for younger side hustlers, a way to an extra income doubles as a path to becoming more employable. 44% of Gen Z (born between 1997 and 2012) choose to start a side hustle in order to obtain skills for long-term careers, much higher than the overall 18% of Americans who started a side hustle with the same motivation.
Quicken conducted the survey online, gathering responses from more than 1,000 Americans.
Additional research on side hustles, released in August by NEXT Insurance, showed that three out of five people bring in less than $1,000 monthly in side income, while 22% make $1,000 to $10,000 a month, and 15% make more than $10,000.
Related: Starting a Side Hustle Should Come With a Warning Label — Here’s What You Need to Know
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