Many want to get in on affiliate marketing because of how easy it is to gain revenue. To the uninitiated, it’s the type of marketing where you promote a product or service that can be tracked via links, codes, phone numbers, downloads, etc., that is unique only to you. When a sale happens through your unique link, you earn a portion of the generated revenue.
Before starting an affiliate marketing business, the key is to choose a model that you will stick with. That could mean starting a website and sprinkling affiliate links all over, or maybe running a podcast and talking about the products or services and encouraging your listeners to buy. You can even write an e-book or promote your affiliate products on social media platforms. You can leverage affiliate marketing in a variety of ways; you just have to decide which one works best for you.
Influencer Affiliate Marketing
Ideal for bloggers, vloggers, podcasters, game streamers, and social media influencers, this approach is when an influencer (you) will use a product sent by the merchant, promote the product, and then make money when your followers purchase the item through your affiliate link.
This model is often regarded as the best one as influencers get better commission rates due to their ability to pull in impressive sales volume in a short period. The fact that the influencer promoted the product is also good brand marketing. The only drawback is you have to consistently deliver content that your audience wants to drive up your following. You also have to be wary about being labelled as a “sell-out” if you choose to promote a bad product or service.
Niche-Focused Affiliate Marketing
This model involves bloggers, website owners, thought-leaders in niche markets, and techies. Newbie affiliate marketers tend to use this one since it’s easy to get started with—all you need is to create a website or blog that’s centred around a particular niche. The content of your site would then be curated toward a specific target audience so that you can make money by providing or promoting a solution to them. Perhaps the only drawback of this model is it’s incredibly competitive, and you have to produce extremely valuable content to stand out. You also have to practice good SEO so that your website would rank in search engines.
Location-Focused Affiliate Marketing
A relatively new model, this one is similar to the niche-focused model, except that you also target a specific location. It includes using the local language with communities that don’t speak or read English. It’s profitable because there’s lesser competition, and you create content using the native language of your local audience. On the flip side, you also have a pretty limited market size to work with. You’re only able to market your website and products to a fixed segment of people.
Mega-Mall Affiliate Marketing
Startups, well-funded affiliates, and media companies all tend to use this model. It’s usually the marketing giants that disrupt certain industries, like TripAdvisor and Shopback. It’s not easy for affiliate marketers to reach this level when they’re starting out since it involves big numbers. You would need to have an angel investor or the backing of a venture capitalist to pull this off.
Which Should You Choose?
To choose the model that would work best for you, you have to take into account your goal, the products you want to promote, and the techniques you need to employ to promote them. If you’re an expert in a niche industry, the niche-focused model will work best for you. If you’re multilingual, perhaps you would find success in the location-based model. If you have a significant number of followers or would be willing to grow an audience from scratch, the influencer model might be best suited for you.
Should you need help with starting your affiliate marketing business, get in touch with us today to see how we can help.