Opinions expressed by Entrepreneur contributors are their own.
Affiliate marketing was once an exclusive opportunity for celebrities and big-scale influencers. Today, it seems as if everyone has affiliate links. Sometimes affiliate marketing is done so skillfully that we don’t even realize we’re clicking an affiliate link. On average, the annual passive income of affiliate marketers is $51,217.
What is affiliate marketing?
Affiliate marketing is ultimately a form of passive income. It’s a process wherein a person earns commission by marketing products that belong to another company or person. The person must first become an affiliate of the company, and this is typically done by searching for products he or she enjoys, signing up for the company’s affiliate program, then advertising the product and encouraging people to use his or her link. When someone clicks the link and makes a purchase, the affiliate gets a cut of that sale.
What’s unique is that anyone can do affiliate marketing — there’s no age requirement. While some companies may require their affiliates be over 18 or over 21, many do not. Likewise, while every state and country has regulations in place for minimum employee ages, these do not apply to affiliate marketing. Unlike a typical job where you legally become an employee, affiliate marketing is considered a hobby — meaning the same requirements do not apply.
What makes teens so successful
Some might argue that teens are better at affiliate marketing than their adult counterparts. They have a leg up over the competition, and here’s why.
Teens are at the forefront of technology
As we continue to progress, young people are always the first to learn and embrace new technology. For older millennials, it was computers and the internet. For teens today, it’s groundbreaking apps, video and new ways of communicating. Today’s teens have never known a world without the internet and computers. Since they grew up with it, they’re more adept at creating their websites and profiles on all the latest apps. These places just happen to be some of the best places to market your affiliate links.
Teens are in-tune with the latest trends
“Cool” will always be in style, no matter what is deemed cool nowadays. Teens are often the ones creating what is seen as cool in popular culture, so they know what is trending better than any adult. By incorporating the most recent trends in their affiliate marketing, they set the products they’re advertising apart from the rest. They are able to make their products seem more desirable. Teens and affiliate marketing naturally go hand-in-hand.
Teens know how to communicate
Since teens know to use the latest apps and include the most recent trends, they also have a unique way of communicating. They can reach other people their age by speaking the same language. In a world where anyone can go viral on TikTok, teens are predisposed to present their ideas in a way that is well-accepted on these new social-media apps. By using this commonality, people are more likely to buy into what they’re selling.
Teens have more flexible time
One of the best things about affiliate marketing is that it’s incredibly flexible — you can do it from anywhere, anytime. However, many adults are confined to a strict work schedule, with additional responsibilities in their free time. Teens do not yet have these societal expectations. They have more flexible time to build a business than anyone else.
Teens have more time to build
There’s no way around it — the sooner you get started with affiliate marketing, the sooner you’ll see big returns. Since so many teens are getting started with affiliate marketing early on, they will inevitably have stronger systems in place to out-earn latecomers. They’ll also have additional income from affiliate marketing to put into other ventures, further building their wealth for the future.
Ready to make money online? People everywhere are already doing it — building sales funnels and earning thousands on the side. The bottom 10% of affiliate marketers make $37,000 per year while the top 10% of them earn over $70,000. With affiliate marketing, there’s very little cost to get started, so what’s stopping you?
A Step-by-Step Guide to Your First Affiliate Marketing Campaign
Opinions expressed by Entrepreneur contributors are their own.
A newly-created project should manage significant issues to survive the first year of operating. The key target to hit, especially in a highly-competitive market environment, is finding product-market fitting. Affiliate marketing is giving a variety of instruments to reach that goal. And even more: It engages potential customers, who can become a core audience — and some can even become brand ambassadors in the future.
Here are some bulletproof tactics of how to launch a new brand, service or app using affiliate marketing channels.
Why affiliate marketing can be an effective strategy channel to use
An affiliate partnership is based on a сost per acquisition model (CPA). The advertisement provides results in the form of sales and target actions, which gives direct profits. Worth noting, the affiliate marketing advantages are:
- The absence of reckless risk-taking investments.
- Promotion is taking place only among the relevant audience.
- The wide range of different niches to be efficiently used.
But the main thing is that the budget spent is under your control. The basic operating principle of affiliate marketing is you get what you pay for.
According to Publift, 86% of audiences are suffering from ad blindness, meaning they simply do not see the ads. To get confidence that the budget won’t be wasted on irrelevant clicks (cost per click) or views (cost per view), the affiliate partners’ reward depends on the success of the promo campaign.
Having all these advantages of affiliate-based tactics, it’s time to roll out our very first affiliate marketing campaign step by step.
Step 1: Creating an in-house affiliate program or joining a travel affiliate network
Building your affiliate program is not a cheap exercise. However, big brands like Expedia or Booking.com could do that. So looking for a proper travel affiliate marketing network would be a more realistic option. Their framework and experience combined with the right tools should help you as well. The cooperation with external CPA platforms (i.e. Travelpayouts, CJ, AWIN, Partnerize or others) seems more manageable, especially for the newcomers.
Step 2: Propose a suitable affiliate offer
It must be based on an analysis of competitors and companies’ ROI models. The proposal should include commission rate, cookies lifetime and payout policy.
The cookies’ duration is the length of time when a customer and an affiliate are associated together. It starts from a client’s click on the link and may last from one session up to a year. If it has expired, the partner won’t receive a commission from a purchase.
Also consider determining a payout policy: a variety of actions, which are taken into account as target ones and being paid. Pay-per-click (PPC), pay-per-action (PPA) and pay-per-impression (PPI) models are concentrated on different aims — the number of clicks, lead generation and sales guarantee, respectively.
3. Get a list of top-notch affiliates
The subscribers and followers of a partner should be your final target audience. For example, if you have a coupon service, the potential users’ audience from your partners should be interested in travel deals, coupons and discounts. Keep on the influencers with high-quality content. It’s okay if they’re local bloggers with fewer than 5,000 subscribers, compared to the more popular ones with 1 million or more subscribers.
The figures for the blogger subscribers are not as important as the quality of the audience — the major thing is how many sales a partner can attract. The affiliates with a low traffic volume can also become a great source for your actual sales among the loyal and active audience.
4. Sharing your brand’s values with partners
The affiliates will recommend your service to their audience, so they should be aware of your brand values. A simple solution is to create a promo or landing page to share with potential partners. On this page, you can provide product features, strengths, tips, etc. Go even further, and create a media kit with a detailed description. But remember, not all the affiliates are willing to go through a 30-page document. So be sure to create a summary that includes all the basics.
5. Analyze the efficiency of the campaign
Usually, at the launch of an affiliate campaign, it’s enough to provide partners with affiliate links. By using them, an affiliate would provide and drive traffic to your site or link for app download. Efficient cooperation can also encourage other ways to contact the audience in the future as well. It could be such effective formats as search forms, banners or APIs. While affiliate partners attract their audience, your task is to analyze the quality of incoming traffic.
The essential point of the first stage is to inspect the affiliate campaign’s effectiveness (to improve it for the future). The initial traffic flow and sales will indicate further actions to be done. For example, you can try reaching partners with different target audiences or using additional tools to attract a new audience yourself. You could also try changing program conditions or pushing extra promotions. Traffic analysis is an everlasting process for the affiliate program optimization, as well as the identification of anomalies and possible violations on the partner’s part.
Affiliate marketing is not a one-shot game. So be prepared for different experiments with advertising formats and channels. Perhaps, you would figure out that social media promotion is a better way than traffic from travel blogs or vice versa.
This process demands flexibility, constant self-improvement and deep analysis of audience behavior. Don’t panic if the first results of the campaign don’t match your expectations. Launching an affiliate program is just the beginning of a long journey. Affiliate marketing is, in our humble experience, the most cost-effective marketing channel worth taking a chance on.
Google Sitemap 50,000 Limit Based On Location URLs, Not Alternative URLs
THQ Nordic Digital Showcase Recap
Google Says Clicking On Your Site In Google Search Won’t Hurt Or Help Your Rankings
Stay Alive if You Can, with the ID@Xbox Survival Sale
25 Best SEO-Friendly Alternatives To WordPress Websites
Meta Publishes New Report on the Increasing Consumer Reliance on Business Messaging
Google Guaranteed Local Ads Adds Not Guaranteed Disclaimer
Instagram Shares New Insights into How it Selects Recommended Posts to Highlight in User Home Feeds
This Week on Xbox: New Game Pass Additions, Updates, and Events
6 Steps To Prioritize Natural & Paid Search In A Holistic Search Strategy
Being In Close Contact With Google Doesn’t Benefit You
15 Excel Formulas, Keyboard Shortcuts & Tricks That’ll Save You Lots of Time
How Do Enterprise & SaaS Marketing Software Solutions Differ?
Top 7 Ecommerce Podcasts You Should Listen to in 2022
Main Advantages Of LED Lights You Should Definitely Know About
Google Testing More List View Top Stories With News Taking Over Web Results
The Ultimate Guide to Google Ads [Examples]
Spreadsheets remain critical for marketers
10 DuckDuckGo Facts For Digital Marketers & SEO Pros
Marketers’ secrets to overcoming challenges