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How to Monetize Your Website in 2021

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How to Monetize Your Website in 2021

With a bit of hard work and implementation of smart strategies and tools it is possible to monetize a website in 2021!

But before I tell you about these website monetization strategies, there are some things you should consider.

Monetizing a website takes time and dedication. You may not earn the expected amount at first, but don’t allow that to be a barrier between you and your freedom.

To achieve the results you want, there are some universal attributes each seven-figure website possesses.

Today, we are going to unearth those characteristics, learn how to implement them, and turn your website into a profitable business.

Let’s get started!

1. Start with Affiliate Marketing

Affiliate marketing is one of the simplest ways of earning money as it’s 100% passive income, and you don’t even need to create your own products or services.

According to research by Alchemy Coder, eCommerce has progressed at a spectacular rate after the pandemic, which resulted in the new affiliate marketing golden bubble.

The research shows that the same pandemic forces steering the rapid-fire growth of eCommerce websites have also resulted in unemployment. People who lost their jobs started looking for different ways to make money online and some have found affiliate marketing as a good way forward.

It just takes three steps to begin with affiliate marketing:

  1. Create an account with sites offering affiliate opportunities like Amazon
  2. Find products that are relevant and beneficial to your targeted audience.
  3. Promote these products on your website. Or add one landing page as an online store.

Then, when your website visitors use your affiliate links to make the final purchase, you receive a portion of the total amount as a commission. It can be anywhere between 30-70%, so there is great opportunity out there to endorse products and make money.

However, there’s a catch. For an affiliate marketing success, you need to:

  • Properly reveal your affiliate links or how you are connected with the products or services
  • Don’t promote anything or everything without testing the quality of products or checking reviews
  • Recommend only products and services that your audience want

If you are set to begin your affiliate journey, make sure you have access to essential affiliate marketing tools. These tools use unique tracking links to record leads driven by each affiliate program. They also give you a 360-degree view of how affiliate links are performing and how much you earn from each.

2. Create a Profitable Podcast

As podcasts continue to mushroom, more and more people are jumping on the opportunity. They are setting up new shows to reveal their expertise, build a personal brand, grow an audience, connect with more influencers and enhance their business exposure.

Many people have added podcasting as a part of their marketing strategy and are successfully generating income out of it.

If you too have something to share with the world through podcasting, here are a few ways you can profit from your show:

  • Sponsor Your Podcast: Generally, sponsors aim to sell their products or raise brand awareness. They are ready to pay you based on the total number of podcast downloads. Some sponsors pay you per 1000 downloads – known as the CPM (cost per mille.) Other advertisers or companies pay you based on the total sales your podcast generates.
  • Boost the Sales of Your Products and Services: If your podcast is relevant to the products or services you sell, you can think of many ways to slip them into your podcast conversation. Natural mention of the product, benefits or an exclusive discount on the relevant product can increase sales.
  • Repurpose Your Content into a Paid Product: By knowing which part of your podcast listeners like the most and what they want to know more of, you can quickly turn these topics into a saleable product like an ebook or tool.

Let’s say you run a lifestyle business. You could create a podcast on how to live your lifestyle and generate income simultaneously. Then, you could find sponsors in the fitness world as it’s relevant to the lifestyle industry and sell their stuff on your podcast.

Take it further and promote your products or services like a book on living your life fully. Finally, collect some insights from your podcast regarding what your audience is interested in. Perhaps it’s generating income while travelling the world. Convert those insights into a sellable product (maybe another book). Then repeat the entire process to keep your income flowing.

Now, if you’re ready to start a podcast, you need a home to host your podcast where you can store your audio files and build an RSS feed of your podcasting channel. The platform will keep all your podcast episodes organized and distribute them to popular directories like iTunes, Spotify, Google Play, etc.

3. Side Hustle with an Online Course

If you have something valuable like a skill to share, you can create online courses out of it and sell them on your website.

See also  Make Money By Affiliate Marketing

The e-learning market is estimated to reach $325 billion by 2025. So you will never run out of students if your online course adds value.

Plus, monetizing a website through courses is a simple process that anyone can follow:

  • Select a topic/niche/skill
  • Develop a new website or include your course into an existing one
  • Upload the teachings and promote them

Creating online courses can be a lucrative solution as your website traffic is a crucial source of income.

More traffic = More Clicks = More Income

If you are a recognized authority in your field and have a strong brand presence, you can introduce a certification program. It can be an advanced e-course associated with homework, exams, and scores.

Copyblogger, a well-known content marketing tools and training site, provides an authority program for content marketers and writers. The blog (and the bloggers) have unquestionable credibility in their industry, which puts a stamp of approval on their programs.

While the idea behind an online course is easy, the process of actually creating them isn’t. It involves more than just recording a video. You have to build an eLearning site, an entire step-by-step course program, develop assignments (if necessary), design the course chapters, and much more.

However, online course creation platforms streamline the entire process. These platforms provide all the tools you need to create, teach, launch, and manage your e-course—so you can concentrate more on developing valuable content.

4. Launch a Paid Membership

A membership website is a restricted part of a website charging a small fee from members to give them access to unique, premium content. Also known as the paywall method.

Take Ness Labs, for example, a site helping people work mindfully. It restricts access to some of its content, thoughtful discussions, events, and special deals for premium subscribers.

The reason why membership sites work is that if your content is worth improving people’s lives, you can charge people repeatedly, like monthly, quarterly, or yearly, to give access to protected content. Members will happily pay to keep the valuable information flowing and to keep their account active.

If you want inspiration to turn your free content into a paid one, you can look at some successful examples with six figures income.

Online forums are another excellent way to communicate with your online community, solve their problems, and make money while doing so. The simplest way to monetize forums is by granting paid access to groups as per their needs. For example, if you run a health and fitness website, you can develop an appropriate pricing forum for losing weight or developing strength. This way, users focusing on the diet will pay to connect with diet conscious people and muscle gainers will pay to gain knowledge on strength building.

5. Sell Digital Products

Selling digital products is another excellent monetization method if you have little time as it doesn’t require you to create content continuously, like blog posts. You create the product and then promote it to your target market.

There are numerous options for selling digital products online. Here are some popular categories:

Ebook

Turn your expertise into an ebook and put a price tag on it. For instance, Tiffany Alliche is a financial educator. She has published many successful ebooks on money for both student and non-student audiences.

Music

Thanks to the ability to store and send audio digitally, we can sell music online. DECAP, an American record producer, sells his drum kits online.

Meditation Recordings

In today’s world more and more people are seeking easy ways to destress and mediation is a great way to do it. The top 10 meditation apps alone earned a whopping $159 million in 2020. If you can record guided meditation audios, you can turn them into Mp3 formats and sell them on your site.

Affirmations

Affirmations are positive statements helping people cope with self-sabotaging and negative thoughts. For example, a statement like “I am love. I am purpose” can generate positive thoughts. You can create an entire ebook on positive affirmations and sell them on your webpage. Jack Canfield, a motivational speaker, sells the Success Affirmations book on his website.

6. Make Money with Website Flipping

Flipping is about purchasing a product, revamping it and selling it for a profit. Similarly, website flipping is buying an existing, inactive website, improving its overall features, optimizing it for various search engines, and attracting traffic.

You have to look after the website in a similar way you care for building your online business. Once your website achieves a considerable amount of traffic, you can sell it at a much higher rate than your original buying price.

People having basic writing and optimizing skills can quickly flip a website. However, you do have to take care of certain things before and after buying a website:

  • Find websites that you are familiar with
  • Look for a memorable domain. It’s much better if it possesses highly searched keywords
  • Next, select a platform to host your website
  • Prepare your website with all the templates and inbuilt plug-ins it needs
  • Then, focus on publishing unique, quality content consistently that attracts traffic
  • Optimize your website with keywords and search engine requirements
  • Lastly, promote content on social media sites to enhance traffic
See also  3 Best Affiliate Marketing Tips for New Bloggers

As soon as your site is ready to sell, you could exhibit it at different auction platforms or find buyers online. Once you and the buyer agree on the cost and terms, you have to transfer the domain under the buyer’s name, and after that, they will take charge of your website. Repeat the steps above to continue website flipping and earn money.

7. Turn Your Expertise into Virtual Coaching

If you have mastered a specific skill or possess expert knowledge in your industry, you can offer one-on-one online coaching sessions or charge for online group classes. It’s a great way to spread your experience, help the community, and generate recurring income.

One of the significant advantages of virtual coaching is that you don’t need a huge audience to secure a healthy income stream. That’s because customers pay more for customized, one-on-one programs.

For example, Nagina Abdullah helps women lose weight. She claimed to earn approximately $20,000 from one-on-one coaching. That is also with less than 5000 subscribers.

Now, when it comes to online coaching, you have a choice to go for simple and private Skype coaching sessions. Or conduct online retreats to meet large groups in person.

Let’s say you are a yoga expert and you want to create an additional income stream from online yoga classes. You can offer one-on-one yoga training personalized to each individual’s needs. Or you can also announce online retreats for a group.

For example, Adriene Mishler, an international yoga teacher, hosts live, virtual sessions on Yoga, meditation, and other self-care topics. Her recent online session was about “Anchored in Love.”

If you are following a welfare purpose, you can also add donation buttons enabling people to contribute to the common cause.

8. Become a Well-Paid Freelancer

Another way to monetize your website is to show it as a portfolio promoting your knowledge, skills, and experience. Freelancers often rely on various platforms to offer their services, but according to Hubstaff’s 2017 studies, on average, freelancers having websites charge 65% more than others without websites.

For example, ToyFight offers creative services like research, strategy, branding, illustration, UX, and Development. Their website perfectly portrays who they are and what they do. Most importantly, their website covers their work experience and past projects.

Other freelance ideas include becoming a copywriter, proofreader, digital marketer, social media marketer, SEO expert, web developer, translator, SEO expert, etc.

9. Offer a Problem-Solving App

Since we are gradually relying more on our smartphones and other handy devices in our daily working lives, social lives, and even when we’re alone, it has become common to rely on apps to finish our everyday tasks. And it is in the glory of day-to-day personal or professional problems that make the app industry truly shine.

So if you think that you can solve a problem for your customers, the opportunity is right there. Develop a problem-solving app and monetize it.

In the past, small businesses have been sceptical about developing a professional mobile app. High costs of hiring experienced developers and maintaining an app for a lifetime have added to this weariness.

However, app development costs have dropped significantly, and one can create them with extra ease. With today’s no-code solutions, everybody can build SaaS apps without the need to write code. The app-building and launching of apps have become a piece of cake with the help of drag and drop features.

Now that we have removed every barrier to creating apps, here are some popular ways to monetize them.

  • Offer in-app purchases
  • Enable subscription service providing a different experience to paid users than the free ones
  • Run in-app ads. Make sure the ads align well with your products or services
  • Connect with sponsors, brands, and trusted partners that may want your mobile app to connect with their target audiences

10. Publish Sponsored Posts and Product Reviews

One way to make money by blogging on your website is to negotiate sponsorship deals with other businesses.

You can charge companies for:

  • Publishing a blog relevant to the company with a link to their website
  • Review your sponsor’s products or services in your article
  • If you have an email list, you can include sponsor’s content in your newsletter for better exposure
  • Bonus promotions on social media bring an added advantage

BuzzFeed sponsored content shows how brands are using relevant sponsored posts to raise awareness and build trust. Hot Wheels, a children’s toy company, sponsored a post on BuzzFeed regarding children’s playtime.

As you see, BuzzFeed created an opportunity by following its own content style, then paired it with a brand having topic authority.

11. Advanced Ways to Monetize with Google Adsense

Google AdSense is one of the most common and easiest ways to earn some cash as it requires minimal setup. You can quickly place ads on your blog or website. For newbies, it is called a PPC (pay per click) – an online advertising model where website owners make passive income whenever a visitor clicks on banner ads.

See also  How to Create Multiple Streams of Income from Home

Selling ad space is another advertising model where you earn money by offering free space on your website to promote other brands’ products or services. These ads take the form of links and appear at the bottom of your website pages, as sidebars or tiny pop-ups.

Here is the example of an art and design blog, We and the Color, who display ads at the top and side of its homepage, giving readers something to explore more than what meets their interests.

As the method follows the pay-per-click or pay-per-visitor model, advertisers will pay you based on the number of visitors clicking the ad.

The selling ad space method is a bit time consuming, but it amplifies revenue when a website grows. However, to get the most out of this method, you need to generate more website traffic and have a high conversion rate.

So here’s how you let advertisers or brands know that you sell ad space:

  1. Prepare a media kit consisting of the statistics and facts (like page views, clicks, etc., of your website)
  2. Send the media kit to potential buyers. Tell them why your website is a good fit for their products or services.
  3. Once you land a few deals, use Google Ad manager to organize your advertisers.

You can also use Google Analytics to see your website’s information (page views, etc).

12. Offer Value with WordPress Plugins

If you are a WordPress user or have ever been, you will be aware that you can’t run a WordPress website without installing a few plugins.

Right?

These plugins insert extra features to streamline the WordPress blogging process. They work as problem solvers for website owners.

One of the worth-mentioning examples here is the Elementor page builder. This mega page building plugin aims at making it easy for you to create custom page layouts and is used by 4+ million WordPress sites. Additionally, the plugin developer monetized it by launching a premium version called Elementor Pro containing advanced features.

If you have a solution to a problem and can convert it into a plugin that your audience is looking for, nothing can stop you from making money out of it. Just make sure to develop plugins based on the specific needs of your targeted audience.

13. Sell Through Influencers

Whether you are selling digital or physical products, you need influencer marketing to increase your sales.

Of course, PPC and social media marketing drive clicks. However, the click doesn’t necessarily convert. An Influencer marketing strategy, on the other hand, follows a different approach than direct selling. Influencers leverage their influence among their followers to generate product interest which ultimately leads to conversions.

You can leverage influencers or use influencer marketing in a number of ways. For example:

  • Start an affiliate program and increase your physical or digital products’ sales
  • Send influencers your products for free to try, promote, or give a testimonial
  • Invite influencers to join your webinars during a launch
  • Publish guest posts on an influencer’s website or blog
  • Show up as a guest on influencers podcasts or interviews

Following the above steps will get you more referrals, which turns into MORE SALES!

Plus, there are many influencer marketing platforms to choose from which can help you track campaigns, and measure results.

To Conclude

You can start earning money with one method only. But applying a couple of methods will help you create multiple income streams. It’s important to monitor which methods work best to maximize your website monetization.

And guess what?

You don’t need to work on each tactic exclusively. They all are correlated. Suppose you create a website to promote and sell affiliate products. Slowly, as the traffic grows, you can start personal coaching on your expertise to level up your income. Next, pack your coaching solutions into an online course and invite your audience to join. In the midst of it all, create a digital product like an ebook and sell them on your website.

Keep trying a mix of different approaches. Double down on what’s working. Eliminate what’s not. Continue the process to keep the money flowing to your website. At last, don’t forget to tell us what worked for you the best.

Author:
Eduard Klein is an International Digital Growth Marketer, Blogger, and Entrepreneur with a global mindset. He guides people through the process of starting and growing a digital business, and to ride the wave of digital technology and marketing without getting swept away.

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How Brands Can Use Affiliate Marketing to Increase Their Marketing ROI

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How Brands Can Use Affiliate Marketing to Increase Their Marketing ROI


Opinions expressed by Entrepreneur contributors are their own.

Getting a strong return on a marketing investment: It keeps a lot of people up at night. How will the money spent on that PR firm translate into sales dollars? How will that huge advertising campaign that cost a million dollars impact your brand? For most marketing initiatives, determining ROI is an unpredictable waiting game with no guaranteed outcome.

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There’s one marketing model that plays by a different set of rules, however — rules based on paying for performance after results have been driven. Affiliate marketing, once viewed as a shot in the dark, is driven today by sophisticated technology, transparency between partners and compensation tied to specific, measurable results.

Related: How This Affiliate Marketer Learned Enough About His Craft to Strike Out on His Own

That said, a successful affiliate program requires the right experience and partners. Whether you’re looking to start an affiliate program or take an existing program to the next level, you need a strong team behind you. Here are the five players you need to ensure you’re driving the affiliate ROI you want:

1. An Agency

Unless your company has the resources and bandwidth to build a team of several people with extensive affiliate marketing knowledge and experience, hiring an agency is the best option. Agency marketers are experienced at handling the multifaceted complexities that come with building and growing a high-performing program.

Make sure you’re clearly looking at the agency’s setup, ensuring it’s based on performance. I once saw a speech by Robert Glazer, the CEO of Acceleration Partners, a global affiliate marketing company. He wrote a book called “Performance Partnerships,” which focused on aligning any affiliate program with performance. It’s easy to fall for the trap of working with a company that says it will bring you sales, but make sure it puts its money where its mouth is. If it doesn’t deliver in the short term, chances are high it might not be able to meet long-term expectations.

See also  How to Make Money While You Sleep

2. A Scalable Network or Platform

Whether it’s an affiliate network or SaaS platform, all affiliate marketing programs need a technology platform to run on. Your platform should be able to support your growth plans and offer you the right features and geographical coverage, particularly if yours is a global brand.

Awin is an example of this type of platform. The firm provides technology that helps address industry challenges, such as third-party tracking, data light tracking, attribution and advanced commissioning. These types of data weren’t available years ago, but with new tech advances, you can identify what works, as well as when and why. It’s not just valuable for the affiliate program, but for also learning what works so you can apply that knowledge to different sales channels.

3. Loyalty Partners

If you want to scale your program quickly, you’ll need to partner with players who are focused on establishing loyal customers. Ebates is one of the bigger players in the loyalty sector operating on a performance basis. The brand is actively expanding its markets and its categories beyond retail to include travel, dining and ride-sharing for cash-back rewards.

It’s important to determine whether these types of partners will truly create loyalty or attract the wrong types of customers. If you pick the right type of loyalty partner, it can result in the strong, loyal customer base that’s key to long-term brand survival.

Related: How Loyalty Programs Are Emerging as Effective Marketing Tools

4. Mobile Partners

Customers are increasingly spending time on mobile devices and apps, so it’s imperative to have partners within your affiliate program who dominate the mobile ecosystem.

See also  Google Says No Penalty For Using Affiliate Links Without Markup

Ibotta is an example of one of these apps in the U.S., connecting consumers with grocery, retail and lifestyle brands and rewarding them with cash for buying things they need. I used the app pretty easily when I was standing in line with customer service after a purchase. I simply took a picture of the receipt, and the app applied the cash back to my account. With a lot of mobile user growth, it’s good to look at partners who have developed a mobile user experience that makes things easy and accessible for the customer.

5. Tech-Driven Publishers

The affiliate space has grown well beyond coupon and deal partners. To drive incremental revenue on a performance basis within your program, consider partnering with publishers who are advanced in e-commerce technology, including deep website integration and artificial intelligence.

RevLifter is one example: The company helps brands deliver more conversions, incremental sales and customers by personalizing deals for advertisers across marketing channels. Available worldwide on a pay-per-performance model, it uses AI to understand real-time signals from users’ on-site behavior and deliver the right deal to the right customer at the right time.

Related: Partner Programs Turn Competitors Into Collaborators

Whether you’re new to affiliate marketing or simply needing to step up your game, checking off these boxes will help you develop a strong affiliate marketing program. ROI is hard to manage when you’re running a bevy of marketing programs, but the right team can help you take the reins — and get the outcome you want.



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This $19 Course Demystifies Affiliate Marketing in Two Hours Flat

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This $19 Course Demystifies Affiliate Marketing in Two Hours Flat


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.

Fire up your go-to social media feed, and there’s a good chance you’ll scroll past at least one promo code or coupon being promoted by an influencer you follow. Without even trying, you’ve been exposed to a new brand, as well as an incentive in the form of a free trial or discount that might just get you to convert. That’s the magic of affiliate marketing.

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Companies big and small are leveraging affiliate marketing to drive brand awareness and conversions, and affiliate marketers stand to make a pretty penny for their services. Of course, the field can be a bit tricky to crack. but that’s what the SEO Affiliate Domination course is for. Now only $19, this course can help you make a killing in the affiliate marketing scene; and for 90% off what it would usually cost.

In just two hours, this course offers a detailed look into the lucrative world of affiliate marketing. Jump in, and you’ll discover important strategies for e-commerce, affiliate marketing, SEO, and video marketing; and you’ll emerge with a greater understanding of how to build brand authority.

Normally $199, the SEO Affiliate Domination course is on sale for only $19, a whopping 90% off the usual price.



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Pick a Marketing Model That Lets You Pay for Results, Not Potential

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Pick a Marketing Model That Lets You Pay for Results, Not Potential


Opinions expressed by Entrepreneur contributors are their own.

In an era of caution, companies need to invest in marketing efforts that lead to a direct payoff and don’t require more than they can afford. Over the past week, I’ve had to evaluate all the things I’m doing at Calendar to see what’s really moving the needle. It’s astonishing the things we’re spending money on that aren’t actually driving revenue to our bottom line.

Visual Generation | Getty Images

As today’s environment forces drastic behavioral shifts in our daily lives, companies of all sizes and in all industries are evaluating the changes they need to make to stay nimble in our new economic reality. As businesses adapt to the stay-home economy, they’ll be focusing on which investments drive the best possible outcomes.

Businesses are used to pouring money into marketing channels that require upfront, flat-fee investments for promised inputs and potential outputs. Rather than invest in these marketing channels, companies can leverage affiliate marketing, which only requires them to pay partners once they’ve achieved the desired result.

Related: How to Build a Reliable (and Profitable) Affiliate Network From Scratch

What is affiliate marketing?

When managing their marketing budgets, companies should invest in channels tied directly to outcomes and avoid unnecessary risk. After all, if they pour all their funds into marketing but see no payoff, how will they afford to develop their products and services further? 

Affiliate marketing (often called “partner marketing”) is simple: A brand partners with a publisher, or an affiliate, to market a product or service to its audience using a tracking platform. Unlike marketing channels that require upfront payment, brands pay publishers a percentage-based commission for each sale generated through their content. 

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Forrester predicted that by the close of this year, U.S. ecommerce sales would total $500 billion. Combine that with predictive analytics firm Custora’s prediction that affiliate marketing will influence 14 percent of ecommerce purchases in the U.S., and that means affiliate marketing will impact $70 billion worth of sales. Pepperjam’s Adobe Summit 2017 Survey revealed that only 4 percent of are investing in affiliate marketing, meaning there’s a big opportunity. 

Related: Three Trends That Will Drive the E-commerce Sector In 2019

How affiliate marketing pays off (in more ways than one).

Affiliate marketing offers a cost-per-action (CPA) payment structure instead of a cost-per-click (CPC) or cost-per-impression (CPM) structure. This creates a sustainable, competitive advantage because businesses only have to pay for converted sales and leads after the publisher finalizes them. Even during tough times, brands should always want to pay for incremental revenue. It prevents businesses from throwing good money after bad — they don’t need to invest large amounts of money into marketing campaigns or ads that turn out to not convert as expected.

Instead of continuously investing money into Facebook and Google, hoping it leads to conversions, affiliate marketing enables brands to broadcast their product to a wide audience of potential customers with a pay-for-performance pricing model. It also enables them to be more hands-off, allowing their affiliate partners to use their brand standards to do the work themselves. Affiliate programs can even include partners who will share the brand via Facebook or Google; unlike traditional methods on those platforms, these will be paid based on those campaigns’ performance, allowing a low-risk entry to these channels. 

See also  Affiliate Marketing vs. COVID-19: Industry Movement and Expert Advice on Surviving the Impact

Related: How Much Should You Spend on Social Media Marketing?

Even in an uncertain economy, this framework can scale. Because the marketing investment is only a portion of the revenue the partnership brings in, businesses just have to figure what they’re willing to pay for each transaction or new customer. They don’t have to worry about pouring excessive budget into a single channel. 

In a precarious marketplace, businesses need to stabilize their immediate future by investing in channels that they know will drive profit. Affiliate marketing is the model for this moment: It’s built on transparent and trusting relationships, where brands and partners set clear expectations and companies only have to pay for the outcomes they get.

People are at home, and that’s where affiliate marketers can capture their attention. Companies can stay ahead of the game by using affiliate marketing to maximize their ROI and make sure they’re paying for outcomes, not inputs.



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