So, you want to know how to succeed at affiliate marketing. Well, you have definitely come to the right place. Recently, the founder of Wealthy Affiliate did a live video training class. In fact, it was is FIRST live training session he’s ever done.
Clicking the link above will take you to Wealthy Affiliate, where you will need to create an account to watch the video. If you don’t want to do that, I have paraphrased it as a written article below.
- Getting into a Business Mindset
- Niche Competition: Don’t Worry About it
- You Don’t Need to Know Everything
- What is a Niche?
- Is Your Niche Too Narrow?
- Your Audience Should Be Your Motivating Factor
- How to Structure Your Business for Long-Term Success
- What is the Best Affiliate Program?
- Ultimately, it’s a Matching Game
- Don’t Restrict Yourself Just to Amazon
- Keyword Research
- Why People Fail to Make Money Online
- How to Grow Your Online Business
- Become the Expert in Your Niche
- When is it Time to Move on?
- Consider Promoting Digital Products
- Converting Mobile Traffic
Getting into a Business Mindset
The first main thing Kyle spoke about was getting into the mindset that you are starting a business. Many people, when they first try to start an online business, think in terms of “giving something new a try”. This is the wrong mindset to have because you are almost setting yourself up to fail.
Instead, realize you are entering into the online business world. Questioning whether online businesses can succeed is not much different from questioning whether offline businesses can succeed. So approach it that you are starting a business online.
Niche Competition: Don’t Worry About it
One thing that can often hold people back when they are just starting out in online business, is the fear of competition. There will always be some competition in any online business you get into. Rather than worrying about the competition, consider yourself to be THE competition. Eventually, you will become the authority in your niche, and other internet marketers will look up to you as being the competition.
You Don’t Need to Know Everything
When you are starting out, don’t worry if you don’t know everything about your chosen niche. At the beginning, you might not know much at all. This is completely normal. But the thing about the online world is there are hundreds of thousands of niches and many different internet marketing techniques.
You can become an authority in any of these niches eventually. And even if you are an expert in your particular topic in the offline world, when you start an online business there will be a lot you need to learn about how to successfully market your business.
So there is a learning curve with an online business, and you can even enter into a niche you are not familiar with at all. You can learn about your niche by immersing yourself in it and reading all about it, watching videos, etc.
What is a Niche?
A niche is just an audience, a group of people. The thing is, though, everyone is involved in many different niches themselves as a customer. Just think of all the different products you buy throughout the year. These will be in different niches, and you may even sometimes buy from affiliates when making these purchases.
So one way to decide on a niche is to think about the products you buy yourself. If it’s something you are genuinely interested in, it could be a great niche to get into as an affiliate.
So if you have a passion or interest that has related products that people are buying, this is a great way to choose a niche. It is much easier to get up each morning and write great content on your website if you are genuinely interested in the topic.
But the awesome thing is, once you get passionate about the online business world, you can more easily get passionate about any niche. And there is no such thing as a perfect niche. As long as you are interested in it and there are products to buy, it is probably worth getting into.
Is Your Niche Too Narrow?
If you have narrowed your niche to just one product, this means you have become too narrow. While it is possible to create mini niche sites around a single type of product, you are much more likely to be successful long term if your niche has several different types of products within it.
And as was said earlier, try not to worry too much about competition when deciding on a niche. You only really need to concern yourself with the competition when you are actually doing keyword research.
You also shouldn’t limit your ambition when entering into a niche. As long as you haven’t restricted yourself to just one type of product, you should find there is almost unlimited potential for growth within your niche.
A while back, Kyle posted on Wealthy Affiliate about the large number of dog toys that are available. If you were in this niche, just think of all the other related products you can promote, like dog training and related products.
Your Audience Should Be Your Motivating Factor
Although money is the initial reason you get into an online business, it should not be your main motivating factor. Your main motivation should be to help people. Think about your audience and how you can best help them.
If money is your only driving factor, it will be obvious to your audience, and you will probably not be as successful as you hoped.
How to Structure Your Business for Long-Term Success
You need to start by understanding the fundamentals of online business from the beginning. At Wealthy Affiliate you learn to lay the foundation first; you get to understand the fundamentals before you start actually earning money. This means things like setting up your website, learning about keyword research, and writing great content.
Don’t try to skip ahead and get straight to earning money. By doing this, your foundation will be weak and will be difficult to build on.
Before you can sell products, you need people who are interested in those products. In order to attract these interested people, you need a way to attract them. This means building up a solid website full of great content.
Many people make the mistake of doing things the wrong way round. As soon as they have their website, they throw ads on it and try to sign up to affiliate programs. The problem is, before your website has quality content on it, you won’t be getting visitors to click your ads. Affiliate networks won’t be interested in you either.
Remember that your potential customers are real people. When you write your content, always remember that there will be another person on the other end of your content.
Don’t over complicate things. People tend to think that business is more complex than it really is. You have a product or a service and you have a customer. Your goal is to bring the two together, and this is done through relevance.
What is the Best Affiliate Program?
How do you know how profitable an affiliate program will be? Well, if your affiliate network pays you 10%, and you are promoting $200 products, that means you get $20 per sale. So, if you wanted to earn $100 per day, that means you need to make 5 sales per day, which is totally doable.
But you need to be realistic about how likely you are to make a sale from each visitor to your website. This is your conversion rate. So let’s say you want to promote a very expensive product, you might think you just need to get a few sales per year of an expensive product. However, the chances of people buying that expensive product could be very slim.
But also, if you only promote very low-cost websites, it might take many sales to make a decent amount of overall money. So you might find that medium priced products are the best bet or various different products at different price points.
But you also need to think about what are the most relevant products to your audience. Again, this comes back around to the advice earlier about your audience being your main motivating factor.
In the end, though, it all comes down to how many visitors your can get to your website, how likely they are to buy the products you promote (this is where the relevance comes in), and how much you make in commission from each sale.
Ultimately, it’s a Matching Game
It’s not just a case of joining an affiliate program and getting sales through your website. You need to successfully match people with products or services. So these products or services need to be just what your audience is looking for or exactly what will solve their particular problem.
For example, imagine someone has a dog that won’t stop chewing their furniture. The best product here might actually not be a general dog training program. Instead, you need to provide something more specific, like chewable toys or something that inhibits chewing. Or there may be a specific training program just focused on stopping dogs from chewing furniture.
So make sure the product you are promoting is 100% relevant to the keyword of that particular page of content. Don’t just shove in an ad or affiliate link that is relevant to your overall niche but not the specific issue you are writing about in that particular article.
Don’t Restrict Yourself Just to Amazon
Amazon Associates is the longest running affiliate program on the web, having started way back in 1996. That doesn’t necessarily mean it’s the best option.
Amazon is a very tempting choice for an affiliate program because it now contains just about any product you can buy online. So it’s totally understandable that Amazon is one of the most common affiliate programs for affiliate marketers to try to make money with.
But there are tens of thousands of other affiliate programs out there, and many of them have better commission rates than Amazon. Also, Amazon’s cookie only lasts 24 hours, which means that a person must buy something within 24 hours after clicking through from your website.
Don’t aim for high-traffic keywords. It is far better to target very low competition keywords, even if they get far less traffic. You are far more likely to rank on page 1 of Google for a very low competition keyword.
Even though it is tempting to target higher traffic keywords, it is useless if you don’t end up on page 1 of Google. If you are on a later page of Google’s search results, you will get hardly any of the search traffic anyway.
You may find you can target higher competition keywords once your website is older and more established, but in the early stages of your website’s lifetime, you should definitely target very low competition keywords; and this means having a QSR (Quoted Search Results) as close to zero as possible.
There is an added benefit of targeting low competition keywords. These keywords are usually longer phrases, and within those long phrases, there will be a bunch of other keywords contained within it. So, later, you may well find you start to rank for these other keywords anyway.
Why People Fail to Make Money Online
Online businesses tend to fail when people focus on the wrong things. They tend to focus on the processes rather than the people. So they get distracted by “shiny objects” that promise to show them the latest technique or whatever.
Instead, you should focus on it as a business from the beginning. So you need to forget about chasing the latest techniques to try to get success quickly. Instead, treat it as a long term business that will take you time to build up.
The problem with making money online is people often have unrealistic expectation. They want too much too quickly. Just because you are doing it online, it doesn’t mean it won’t take time and hard work to succeed.
There will be challenges along the way, problems to overcome. This is true with anything big you try to achieve in life. It would also be true of an offline business, so you need to think of it in the same way.
How to Grow Your Online Business
How do you grow your business in the long term? The core of every business is traffic, which means visitors to your website, which means people. This is why people need to be your main priority in your business. Any way you can increase the traffic (people) to your website, the more your business will grow.
This can be done through SEO, social media, PPC, and various other methods. But you don’t necessarily need to be involved in all these things. For example, you can run a successful business just with SEO.
In fact, it can actually be better just to focus on one method at first. So choose a route that appeals to you the most, then become a total master of that. For me, it’s all about SEO and writing great content, which is what I am doing right now.
I don’t actually do any social media at the moment. It sounds crazy, I know, but that’s the way it is at the moment, and it enables me to focus just on writing great content for my website. Of course, I can branch out into social media or PPC at a later date, once I think I have achieved enough success with SEO.
Kyle says he originally started with PPC before he got into any other aspect of internet marketing. So he became a master of what worked within the PPC world before he tried other methods. Do don’t try to be a master of everything all at once.
Become the Expert in Your Niche
Many people, after they have been in a niche for a while, will complain that they have run out of things to write about. The answer to this is to fully immerse yourself in your niche. Get involved in forums, do keyword research, watch videos.
In fact, you can base your own content on other people’s videos. This is exactly what I am doing here by writing about Kyle’s training video.
But you can do the same thing with YouTube videos. I bet there are a whole bunch of great YouTubers in your niche, creating great videos all the time. It’s perfectly fine to embed someone else’s video into a post and then write about it in your own words, put your own spin on it and give your opinion.
There are loads of other things you can do too. You can set up Google Alerts for key phrases to do with your niche. You can read relevant news articles, buy magazines.
When is it Time to Move on?
Sometimes, it is necessary to recognize when it’s time to abandon a niche. You may have started the niche thinking you were interested in it, but later find you lose interest. If you get to a point where you genuinely feel it no longer interests you, it’s okay to move on and find something else.
Don’t forget, your niche needs to be something you can stick at long-term, so if you do lose interest early on, it’s perhaps not the best choice after all. Just make sure you don’t get into the habit of continually starting new niches and abandoning them.
Consider Promoting Digital Products
If you find yourself frustrated at the low commission rates when promoting physical products, you might want to consider promoting digital products. These tend to have much higher commission percentages because they don’t involve having to create and transport an actual physical product.
ClickBank, for example, often gives affiliates at least 50% commission, and sometimes as much as 75%. However, be careful with ClickBank as it tends to attract many scam-like products of poor quality.
Converting Mobile Traffic
Make sure your website is responsive and mobile ready. Most WordPress themes these days are responsive, but you can test how suitable your website is for mobile devices. Just do a search in Google for mobile website test.
But you also need to make sure that the products and services you are promoting are accessible using a mobile device.
I hope you found this article on how to succeed at affiliate marketing helpful. As I said, this article is based on Kyle’s training video. If you want to watch the video instead, click below and it will take you through to Wealthy Affiliate. You will need to sign up for an account, but it is definitely well worth it.
Wealthy Affiliate really is the best place to learn how to build an online business. To find out why, read my full Wealthy Affiliate review.