5 Ways to Earn More in an Affiliate Marketing Program
The affiliate marketing industry is Big Business. The current size of the Affiliate global market, according to Statista, is over $17 billion. This number is up from $13 billion in 2016. In America, the affiliate marketing market industry is estimated to be worth over $6 billion. Mar 28, 2022
Statista is “The statistics portal for marketing data, and tracks numbers and real time data for several industries. Statista predicts that firms will spend $8.2 billion on affiliate marketing initiatives in the US this year. That is an increase of 76% only in the last six years.
The numbers from affiliate surveys reveal that 31% of publishers report that affiliate marketing is one of their top three sources of revenue. For 9% of the respondents, they state that affiliate marketing is their top revenue source. In the same survey, 62% of publishers said that ecommerce was their top revenue sources.
Affiliates are usually selling digital products from Clickbank or JVzoo that require an explanation of the product benefit and how the product solves a problem. and the effort you put into one can help you make more money from the other. Both involve using your website or other marketing tactics to promote products.
3. Affiliate Marketing Is the Most Successful Channel for 20% of Brand Marketers. Affiliate marketing is the most important customer acquisition channel for 20% of brand marketers. 54% rank it among their top three channels.
Affiliate publishers earn an average of $51,000 each year(Influencer Marketing Hub)
Finding out the earning potential for Affiliate marketing is documented everywhere affiliate marketers hang out.
The income gap is rather wide.
- There are super affiliates who earn over $2M per year from affiliate marketing. These are the 6 percenters.
- The largest group of publishers, 18.8%, earn less than $20k annually.
- 20% earn between $20-80k each year.
What makes the difference between Publishers who earn 2 million per year to those who make less than 20K? The overall consensus from all publishers is that affiliate marketing creates an opportunity to earn money with less effort than other online opportunities.
So that means that the 6 percenters are doing 100% thatn those at the lower end of the income gap. But how are they producing so much? They have grown over time and they have virtual assistants and a large group of individuals working for them. They have gained a reputation as Super
Affiliates so people follow them and purchase everything thy suggest hoping to get where they are.
The defining reason that affiliate marketing is so popular and so profitable is it takes no time to launch your business or so we think. But going on the premise of ease of use. There are these factors that when automated can 10x your results.
Getting into the DM, the email box, on the radar of people on social Media is important. Now, 60% of Successful Affiliate Marketers admit that their traffic comes from SEO. Very few workshops or guru training even mention SEO. This is not an oversight. It is a result of the fact that SEO takes time and affiliates who pay for $1,000 workshops are looking for the quick fix. Affiliate marketing is basically selling other people’s products for a commission. You save time and all the hard work is done for you which allows a shorter learning curve.
There are many exiting products online that pay out lucrative commissions. The creators of these products know what they’re doing. They have great products. They have fantastic sales copy. You promote and get paid.
The Benefits of Affiliate Marketing outweigh any risks.
- You can get started NOW. You don’t have to waste months creating a product
- You don’t have to deal with the customer. You don’t have to answer any questions or speak to anybody.
- You don’t have to write a sales page
The most successful affiliate marketers have a secret that they share with everyone subtlety, but the secret works like a charm. Give away a bonus to your prospects to either get them on your list of for buying your product.
If everyone is selling the same products, how will you stand out from the crowd? What is your USP (Unique Selling Position)
One successful online marketer dubbed himself “The Giveaway Guy” He created an entirely separate program for affiliates to top into his giveaway products for a price. The product he offered to the public were standard click bank products but he gave marketers an edge in that they could offer customers a special bonus if they purchased their product.
Giving something away with a perceived value often results in a sale or at the very least a feeling of goodwill from your prospective customer. Your customer will likely look for your emails or respond to push notifications about your product.
But if your customer is looking for a solution to a problem and you have the solution, (so do thousands of other affiliates) making the decision of which marketers to purchase from will push the decision in your favor because, you offer an added benefit.
The Law of Reciprocation is the basis behind the widespread practice of free pen giveaways by insurance companies. Pens are expensive. Companies only distribute them because they are aware that doing so raises the likelihood that they will make a sale.
What you give away does not have to be expensive or complicated. You might have a specific technique that works flawlessly in your business. So you can give away free advice, a trade secret, something amusing, even a meme image!
This technique works because of the Law of Reciprocation, You have seen it in action, so you know that it works. Giving away something to your customers while your competition offers nothing of value other than the same product, increases the likelihood of you making the sale.
Wealthy Affiliates uses this tactic by offering a free trial. Then beyond the free trial, they offer a very discounted first month offer. once you experience the platform, created articles, use the free domain and discover all the training inside, the participant is usually hooked.
Secret # 2 is Automate your complete Sales Funnel From the start to the end.
In this new digital environment to be a successful marketer, you need an automated system. You need that robot working for you around the clock. The main reason people choose an online business is so they can leave the 9-5 grind behind. If you are still exchanging your time for cash, then you still have a job.
I know you have heard this before but when Warren Buffett makes this quote, I believe it to be true and will again share it with you
Totally automate your sales funnel using online automated marketing tools.
In some shape or form, artificial intelligence (AI) has infiltrated online sales and marketing. Big companies like Amazon dash boards are customized for each customer and Netflix handpicks movies for each user is an example of the popular personalization process available with Artificial Intelligence
Watch This video to discover your million dollar automation helper. It is amazing.
The Affiliate product that you choose to market should be relevant to your audience. So before you choose your products or as you are choosing the products that you will offer, you should have a clear idea of who your audience consists. Choose Affiliate Programs Wisely. …
Understand Your Audience. …
Be Trustworthy. …
Offer a Bonus. …
Create a Variety of Ads. …
Keep Your Ad Strategy Relevant. …
Create Great Content.