For example, we have Trip Advisor at the 140th spot. What you’d want to do is say, “What about travel? Is that a niche I might explore?” and then follow the next steps I’m going to show you. The next thing you want to do, once you have an idea, is head over to Quora.com, which is a crowdsource question/answer site. You want to put ‘travel’ into the search field. Then look at some of the top questions that come up in Quora search results. The reason you’re doing this is you’re taking the broad niche of travel and finding smaller niches that you can create sites around, and then monetize with affiliate offers. For example, we have this question here by Sameer: What are the best travel hacks? That’s a niche right there, travel hacks. Instead of covering all of travel, you can cover things like frequent flier miles, how to travel on the cheap, things like that. We also look at this question here: What are the most surreal places one can ever visit? You could focus on surreal destinations. Is India a good travel destination? You could have a blog or a site that covers traveling in India. These are just ways that you can brainstorm different niches under this greater niche.
Plus, consumers are more likely to rely on a trusted source for brand information than they are an advertisement. In the current state of influencers and rampant review sites, we’re looking to real people’s opinions more than we are static advertisements or TV commercials. With your affiliates comes the trust of networks they’ve previously established.
1. To become an affiliate marketer, you should strongly consider focusing on recurring revenue; this means that the flow of income can be routinely predictable from month to month instead of sporadic and in small and short bursts spread over several months. Recurring revenue, or residual income, is money that is continuously earned while no work is currently and presently being accomplished. All of the time has already been invested; this is good when trying to eliminate the guesswork when it comes to being able to maintain a steady income.
The best way to find suitable brands to promote is by simply using a search engine using: '[Brand] + Affiliate Program'. Some companies run in-house affiliate programs however, this is a very specialist area. Therefore, most companies opt to employ an 'affiliate network' which has already built a large base of affiliates and gained years of experience in running successful programs for clients.
Hi Jay. Love the examples of profit making websites! For anyone who has been banging their head against a wall trying to make a few bucks, these sites show exactly how it’s done which is crucial when you are starting out. It’s so easy to get overwhelmed checking out lots of other sites that may look great but may not necessarily be making money. I also get those Amazon emails all the time. I think I’ll take a closer look and see if I can find a new niche!
One of the biggest challenges that new affiliate marketers face is coming up with a solid business idea. In The $100 Startup, Chris Guillebeau gives you plenty of ideas that should give you inspiration. He's interviewed over 1500 entrepreneurs that have built successful businesses starting with a $100 or less. From this group, he's focused in on 50 of the most interesting examples you can learn from. He shares their most valuable lessons and goes into the specifics so that you can apply them to your business.
With website builders, you get what you pay for. While they have plenty of free templates, more professional-looking websites will always cost more money. However, this investment could be worth it, especially as a website is one of the few startup costs for affiliate marketers. The social media profiles you develop are dependent on your niche and target market.
Taking the financial analysis a stage further, think about the potential profits you can make from each affiliate sale. You’ll have to sell hundreds of low priced items to make a reasonable return, and it may be better to promote premium products where one sale could generate hundreds of dollars. For example, an ebook on cat breeding tips might generate five dollars in commission for each sale. An ebook detailing a profitable gambling system might sell for ten times more and net you much higher commissions.
The easiest thing to do is to sign up for an affiliate marketing network like Commission Junction. They provide a marketplace where your affiliate program will be advertised to other affiliate marketers. They also provide the tracking software for your affiliates so you don’t have to build your own tracking system. In some ways this is better because it takes care of the trust issues. Affiliates are always suspicious of whether or not they’re getting credited for the sales they generate. By having an intermediary take care of transaction tracking and payments, the fear of being cheated is alleviated.
What do you think you could honestly sell customers in the hopes that it would improve their day-to-day? For example, maybe you renovate homes and are always looking for the highest-quality paints or most eco-friendly cleaning solutions for bathrooms and kitchens. If you’re already knowledgeable about a market and have interest in it, that’s a great place to start.
Online presence — A major step in becoming an affiliate marketer is having your online presence up and running. This includes a website or blog and any social media profiles you deem necessary to the promotion of these products. If you’re unsure or need direction on how to build a professional website, check out our pillar page on how to make a website from scratch. You can create a website through a website builder, which will host your site and allow you to purchase a unique domain name.
But I think the biggest deciding factor in this, goes back to the site as a whole and all of the other posts. Are the genuine? Is the blogger constantly trying to push products? I’d like to think I’ve been doing this long enough that my audience knows I’m not out to make a quick buck – and I think even relatively new bloggers can prove this based on their other content.
I have highlighted with red boxes how they are monetizing the site. First I will point out how professional the site looks – it has a custom logo and a very clean look and feel to the site. This helps build trust right away. Secondly, I like how they have the salary data that searchers are looking for right away on top. Then they have the adsense ads immediately following (still above the fold).
BabyGearLab.com is basically the baby's gear version of OutdoorGearLab.com. It has the same theme and site structure as OutDoorGearLab.com. While it doesn't express that this site is owned by the same people, it's probably operated by the same group. The structure is very similar and the focus is definitely Amazon Affiliate income for this site. The cool thing about this site is that they actually have some really good reviews and content. It's similar to TheWireCutter.com – but niched down, which is a popular route that most sites are going these days.
I'm never comfortable building a site in a niche where the potential revenue stream boils down to only a few avenues or merchants. A long time ago I created a site in a niche where there was only one affiliate program to monetize it with. When the affiliate program shut down, I was left with a site I'd spent time and energy on – that was ranking and had traffic – and I had no way to monetize it. Granted, this was before AdSense existed, but even if Adsense had existed, it being the only potential revenue stream should have sent me in another direction.
The best way to think about affiliate marketing is quality over quantity. There are a lot of small websites that will promote your product, but the key is finding a small number of partners that will deliver conversions. For example, an equity management services firm has over 20,000 affiliates in its system, but only about 25 affiliates generate 85 percent of revenue.
This Affiliate Marketing Website was built as a live case study within Wealthy Affiliate over a 4 week period. Members were able to watch every single step I took while building the site. From keyword research to showing profits – every step was shown live and recorded. If you’re a member of Wealthy Affiliate, you can watch the entire case study from start to finish. Here’s a post that outlines the entire case study.