How To Start A Lucrative Affiliate Marketing Business: Part 5 - Win The Wealth Game

How To Start A Lucrative Affiliate Marketing Business: Part 5

In Part 4, I covered some of the most general mistakes affiliates make.

Even though affiliate marketing can be a very profitable business, it has its challenges and pitfalls. The successful Super Affiliates took the time and made the effort to become masters at the skills required. It takes time, but it is doable if you’re prepared to make the same effort.

If you’ve skipped Part 4, click here to go back.

I’ll cover a few points covered thus far in the mini course very quickly to refresh your memory.

If you’re new to Internet Marketing, your head may be swimming with all of the potential business models people are talking about.

In fact, some people get so overwhelmed trying to decide what the right path is for them to take that they simply procrastinate and do nothing.

That’s not the way to go if you want to move forward in your life.

You probably know you want to pursue something that you’ll understand. And, undoubtedly, you want to make money, preferably with no ceiling on income potential.

That’s in essence what Internet Marketing is.

Affiliate Marketing is one branch of the “Internet Profit Tree” – and it’s perfect for newbies, advanced marketers, and those who want to go at their own pace (slow or fast).

You can easily learn all of the skills to help your affiliate income soar, regardless of whether you’re just starting or have been trying before to learn the ropes of Internet Marketing.

Let’s go over a few benefits to help you decide if Affiliate Marketing is your preferred option to follow in this fast-growing and exciting business.

This is a great plus point. Whether you have a shoestring budget or some money set aside, Affiliate Marketing is a strategy that doesn’t ask much cash from the start.

The investment you’ll be making will be effort, not cash.

Of course, if you want to jumpstart your return, you can always do a little investing in things that cost money – like a domain, hosting, and some advertising if you want to – but it’s not a necessity to get the ball rolling.

When you’re just getting started – and you’re faced with so many different business models to choose from – you may not be sure if you’ll enjoy (or profit from) some of them.

Some business models require a huge investment up front, like ecommerce. Not only are you wasting time and effort if it fails, but you’re out hundreds (or even thousands) of dollars.

When you find a strategy that’s low cost like Affiliate Marketing, it lessens your financial risk.

Another great thing about the low upfront costs associated with Affiliate Marketing is that you can be just as successful using 100% free promotional efforts as using a paid platform. Provided you do it correctly and I’ll get back to this later. 

I will tell you that you can begin on free platforms and if you know me, you’ll know that I prefer building assets on a property I own. Building on other people’s platform is the same as ‘rented’ property and one morning you may wake up without a business when the landlord kicks you out. 

Having declared my preference, let’s look at the free options.

There are many ways to begin Affiliate Marketing without spending a dime. For example, you can use a free blogging platform to start blogging about your niche topic. You refer your readers to items they may want to buy so that you get a commission.

Many different places allow this. There are free blog platforms and easy to find to simply do a Google search.

You can also begin posting on a free blog if you want to but you have to be careful because if you’re too promotional, sites like Blogger or WordPress might shut you down.

As I said, it’s always best if you can buy a domain that you own. You can find great deals on domains. For example, you can do a Google search for a coupon code for your favorite domain registrar. I use Namecheap whenever I buy a domain. 

And hosting doesn’t cost that much. You can use Namecheap or Bluehost, for instance. You can get a plan that costs a few dollars a month.

If you want to use cheap hosting, be aware that there can be drawbacks to cheap hosting alternatives. Watch out for poor website speed, uptime, expensive renewal fees, poor support, and lengthy subscription periods.

If you’re worried about building a website, don’t be.

There are people who offer free blog installations. Once set up, all you have to do is log in with a username and password and start publishing content as an affiliate marketer.

Alternatively, find the instructions on how to install WordPress free online and do it yourself. It’s not that difficult and the more skills you master the better. 

But again, it’s not necessary.

You can get started without a website and begin putting some of your earnings back into your business later if you want to take that approach.

You don’t even need sales experience to become a top-earning affiliate. Your job isn’t to sell the customer. Your job is to educate the customer about the product and its benefits and the product owner will do the selling once you get the customer to the sales page.

Creating a product can be daunting. You have to learn all sorts of things – niche research, product creation through multimedia platforms, how to launch a product and create high-converting sales copy, and more.

It’s not only time consuming but also costs a lot. I made that mistake by following the advice of the wrong mentor. It set me back at least a year. And a huge opportunity cost of not earning an income during that time.

Make no mistake that creating your own product must be in your future, but Affiliate Marketing is a way to get started quickly on the Internet. It allows you to focus on mastering marketing first.

There are no production costs with Affiliate Marketing. Like paying for graphics, launching on a paid platform, and paying for a tool that delivers your product to the target audience.

All you’re doing is being the middleman. It’s similar to the job of, for instance, an estate agent. Someone wants to buy a property, someone wants to sell one, and the estate agent brings the two together.

As an affiliate, you go into a niche to bring together buyers and sellers. You’re the connection between the two. This can be just as rewarding as being the one who created the product.

Let’s look at an example.

Let’s say you’ve picked the acne niche.

If you’re the product creator, your job would be to provide a solution that helps people cure or treat their acne.

If you’re an affiliate for the product, your job is to find the people suffering from acne problems and point them in the right direction to where they can find good help to solve their acne problem. 

The key to becoming a super affiliate is to build a list of subscribers and become their trusted go-to person whenever they need advice.

It’s important to be someone they can trust.

They do not trust you to solve the acne problem. They trust you to be honest and point them to someone who will solve their problem.

You’re in the position of a trusted advisor. Therefore, you should only promote products from reliable product creators whom you trust and believe in.

Of course, building a stronger rapport with your readers will increase conversions. Take the time to review and even use products yourself and share your results to help you convert even better.

When it comes to product creation, you’re limited on time and the creation process. It might take you months to take a product from conception to completion. I know because I’ve done it.

But as an Affiliate Marketer, you can instantly begin promoting from a wide range of opportunities available. You’ll be profiting on all of them, not just one income stream, i.e. your own product.

Here’s one of the BEST advantages of pursuing Affiliate Marketing: Diversity.

You get to go into many niche markets to see what works best for you.

You’re going to get to find out:

  • Whether it’s easy to compete in that niche
  • How much you can potentially earn
  • Whether or not you find it satisfying

All three of those are very important factors for your online success as an affiliate. Some niches will be harder to break into than others will. As an affiliate, you can test the waters to see how easy it is to dominate before you pour your heart and soul into it.

Potential earnings will be of concern to you. If the traffic’s coming, but it’s hard to convert the visitors into buyers, then you might prefer to go with another target audience.

Personal satisfaction is what makes this career path attractive. Internet Marketing, in general, is about being your own boss – not having to pursue tasks and topics that don’t fulfill you.

As an affiliate marketer, you can experiment in different niches. You’re going to probably hear a lot of advice about keyword volume and competition.

But it’s important to pay attention to which niches make you feel like jumping out of bed early to engage with your audience.

A great benefit of Affiliate Marketing is ease of use. So many people find it intimidating to go into product creation because there are so many behind-the-scenes elements involved – including many technical skills you need to know.

But as an affiliate, you’ll need to learn some basics that are easy to learn for any level of marketer including things like:

Blogging

Blogging is simple. You’re going to pick a name and URL for your blog and start publishing content. It’s good to learn what people want in terms of content.

One of the biggest factors is personality. People want you to share insight, opinions, and advice with them. Blogs are a great place to review products and share your results and they rank well in search engines.

Video Reviews

If you’re comfortable with video, then you will want to start using YouTube and maybe embedding those onto your blog. In your videos, you can talk about the niche problems and solutions that you advise them to purchase through your links.

Social Marketing

Social marketing is all about sharing. You’ll be using sites like Twitter, Google Plus, Facebook and Pinterest to share your blog posts and links to good products that you think will help your audience.

One of the most time-consuming tasks when selling online is handling emails and requests from customers. They may have download issues, need clarification about the product, or want other help.

As an affiliate, none of that is your problem. It all rests on the shoulders of the product creator.

It’s their job to handle the customer once you send them there, so you can continue working on what matters most – mastering marketing and converting new customers.

Affiliate Marketing is right for just about everybody. Even product creators adopt an affiliate strategy to complement the product development branch of their business.

Is Affiliate Marketing for you?

Only you can answer that question.

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