Money Making with affiliate marketing is one of the best strategy of online business. You don’t need great business skills and not even great investment of money. There are many successful Internet marketers who are money making well from affiliate marketing. Affiliate marketing is a profitable online business, as you could make decent money by selling products online (as commissions are higher generally from 4%-75%).
For example, Clickbank gives upto 75% commission and Amazon starts with 4% commission !
- In practical, affiliate marketing business shall be done by 2 methods: Short Term Methods & Long Term Methods (see the Part 2 – Money making with affiliate marketing).
Lets see them in detail.
Short Term Methods For Money Making With Affiliate Marketing.
This is by driving quick traffic to your affiliate links and to the affiliate sale page using Advertisements. Using Adwords or Facebook ads, you could quickly bring in customers to buy the product online. You have to invest money to drive traffic. When you run ads, you could earn and when you don’t run ads, you could not earn ! that’s why, i called it “Short Term Method”.
The first step in affiliate marketing is the product/market research. Say, you have the affiliate link in hand and here are the steps to make money by this short term method.
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Selecting An Ad Network.
Now you have to select the best ad network. There are huge number of ad networks available in the market and few to mention are: Google Adwords, Facebook Ads, etc. And here is a good list of advertising networks from wikipedia, have a look.
Few important factors to consider:
- Your Ad network should be able expose your product to wider audience.
- Also, you should not loose your money for higher PPC. (beware: now-a-days, Adwords are costlier, when compared to other networks).
- Better to focus a Search Marketing Network (instead of Content based Marketing Network’s).
Allocating Your Ad Budget.
Once you are ready with your Ad network. As part of Ad Campaign setup, you have to fix the budget. Deciding the budget is crucial because it decides the profit. You have to keep the budget less than the Returns in order to make profits.
Few tips for effective budget allocation:
- Don’t over allocate budget at the campaign start up (ie., the first day).
- Start with a little budget enough to run the campign for 2-3 days.
- Increase you budget slowly based on the conversion’s.
- Don’t increase the CPC (Cost-Per-Click) to maximum value.
- Keep the CPC a middle value (half of maximum CPC).
- Increase the CPC slowly based on the conversion’s.
Keep in mind that, when you flood with maximum CPC, you will loose all your money.
- When you work with Adwords, don’t make CPC to default (auto mode), it will eat your budget.
Work towards keeping your Ad at least in the top 10 (not really required to be in 1st or 2nd place).
Creating Catchy Ads Which Sells.
Budget, CPC are the 2 important factors in your Ad campaign. Now, comes the CTR (Click-through-rate) i.e., how people are clicking the Ad and coming to your page. It depends on two factors: Your Ad position & Your Ad text.
Few tips for creating catchy Ads:
- Keep the targeted keyword in Ad title.
- Use the “Call-For-Action” words like “offer”, “discount”, “here”, “check”, “now”, “today” in the Ad description.
- It works many time to mention the product price in Ad description.
- Go-through the competitors ad and try to create unique ads from others.
- Always create an Ad which tells the purpose of your product/web page.
Keyword Optimization To Find Customers.
When it comes to affiliate marketing, keywords are more important especially in driving TARGETED visitors. Yes, keywords are the source of traffic and what kind of traffic you need ? depends on the keywords.
For example, when you need buyer traffic you have to choose keywords accordingly. You have to optimize your campaign well to have right keywords which converts.
Tips for keyword optimization:
- Start the campaign with less and focused keywords.
- See the results and remove non-performing keywords.
- Now, add few more focused keywords and wait for results.
- Repeat the above steps.
By simply following these tips, your campaign will have good number of focused keywords which converts in a short time.
- It is always good to have 10-100 focused performing keywords, instead of having 1000’s of non-performing keywords (also, it keeps your budget under control).
Money Making Depends On Quality of Affiliate Product.
For a short term affiliate marketing business to win, definitely you have to run an optimized ad campaign. More important is the quality of affiliate product. Yes, people has to buy the product right ? Do you buy a low quality products at any chance ? No, right ? That’s same for your customers too. Always pay attention to product quality than anything else.
Its waste of time and money to promote a low quality affiliate product. So understand, how to select best affiliate products ?
Finally, in this short term method of money making with affiliate marketing, you have to invest enough money to effectively run ad campaigns. Follow all these tips mentioned here, definitely your campaign rocks and you will make decent money by selling your affiliate product to the right people !