Before I dive deep into the exact strategies, let me first tell you that affiliate marketing is no get rich quick scheme. It’s business like any other. Which means that it requires your full attention and commitment in order for it to help you make money online.
Most common mistake that many affiliates make is to jump into too many programs at once. This clearly is not the way to make it work for you. You need to choose one program at the time and concentrate only on few products. This way your efforts remain undivided and you increase your chances of success dramatically.
As you already know you cannot promote any old product. Set of products that you want to promote must be a result of solid market research. Here are some guidelines that should keep you on the track:
1. Choose markets with stable demand – this means that you should avoid markets that are driven by trends.
2. Choose keyword with search volume at least 5,000 searches per month
3. Choose markets where competition is less than 60,000 competing pages
Once you’re done with market research and you have selected affiliate products to promote you can then implement 2 powerful strategies that will catapult your earning power to the next level. These two strategies are: List Building and Funnelling.
List building is simple strategy that aims to capture as many contact details of your potential customers as possible. This is important because research shows that only about 5% of first time site visitors will ever buy from you. The rest 95% will go away and you may never see them again. Capturing contact details will provide basis for future communication designed to develop strong relationship with your customer base. And as you already know, strong relationship converts into sales.
Second strategy is to build your own set of products. Affiliate marketing is OK, but it suffers from one main disadvantage. You are only getting paid commission out of every sale. But with your own products you could be making 100% out of every sale. Why not take this a step further and develop a set of products at different price ranges. This is called funnelling. Meaning that you’re selling progressively more and more expensive products to your customer list that you’ve developed implementing first strategy – list building.
There you have it! Now you know how to get most out of your affiliate marketing efforts. Making money is not as difficult as you may think if you understand and implement correct strategies that work.