Waking up at an ungodly hour, driving through street jammed traffic to reach the office, slogging through email until the sweet release at five. Sounds awful?
Instead of dealing with the rat race to earn a few bucks, what if you could make money at any time and from anywhere? In fact, even while you are asleep?
That’s the concept behind affiliate marketing.
“Affiliate Marketing has made businesses millions and ordinary people millionaires.” – Bo Bennet
The idea of affiliate marketing was first conceptualized in 1989 by William J. Tobin. It boomed in 1996 when Amazon Associates, LinkShare, and BeFree achieved some significant successes. Today, Affiliate Marketing is one of the popular tactics to drive sales and make money online.
What is Affiliate Marketing?
Affiliate Marketing refers to the activity by which an affiliate earns a commission for marketing another person’s or company’s products. What an affiliate marketer does is – he/she searches for a product, promotes it, and earns a piece of profit from each sale he/she makes. The sales will be tracked via affiliate links from one website to another.
In the dynamic industry like digital marketing, the affiliate marketing stands as an unshaken pillar with a constant area of interest. This year too, the same affiliate marketing trend is going to be continued.
At first, let’s explore some exciting statistics about affiliate marketing!
Here are the top Affiliate Marketing Trends of 2019!
- Improved Affiliate Reporting & Attribution
With the introduction to new attribution models and reporting features, affiliate platforms enable affiliates to see a full-funnel and cross-channel view of how individual marketing tactics work together. For example, last-click attribution is changing. A paid social campaign generated the first click, affiliate A got the second click, and affiliate B got the last click. With a view to this entire picture, one can structure the affiliate commissions in such a way that affiliate A gets some percentage of the credit for the sale even though it has not reached the last click.
- Influencers are choosing a highly-targeted niche
Previously, large affiliates were the cornerstone as the media sites gave all traffic to hundreds or thousands of advertisers. But now, the scenario is changing. Customers are now using long-tail keywords and searching for specific products or services. Therefore, influencers leverage their hyper-focused audience to be a successful marketing affiliate. Though they might not send enormous traffic to advertisers, the niche they do send is targeted, credible, and possess higher conversion rates.
- Changes in GDPR
The General Data Protection Regulation (GDPR) is a set of regulations that govern the use of personal data across the European Union (EU). It came into effect on May 25, 2018. This new regulation is forcing some affiliates to obtain user data through opt-in consent, although if they are located outside the EU. It also reminds you to use the Federal Trade Commission (FTC) guidelines and disclose the affiliate commissions you receive from your recommendations.
- Affiliate Marketers are becoming smarter
When advertisers receive a large amount of their revenue from affiliate marketing, they likely rely more on them. This makes the affiliate marketer leverage their status to earn higher commissions and crack bigger deals with the advertisers. Be it any of the commission structures; there are high-paying affiliate marketing programs as well as affiliate markers driving the competition and making it fiercer. Affiliate marketing can double as a passive income source for those who want to work from home.
Some Affiliate Marketing Strategies you should be deploying in 2019 as an Affiliate Marketer
- Pay attention to your Affiliate Marketing Sources
When you are an affiliate marketer, it is crucial to know the demographics of your traffic and the sources it is coming from. It will help you convey more customized content and affiliate product recommendations. Apart from your vertical, you must focus on the audience visiting your site and their sources. The traffic sources could be any of these – organic, paid, email, social media, displays, referral, and many more. You can view the data of the traffic source in Google Analytics and put your efforts on the highest converting traffic. It leads you to acquire more affiliate sales.
- Recommend products you are familiar with
In affiliate marketing, building trust with the audience is pivotal. When you recommend any product that you aren’t aware of or the one which is irrelevant to your audience, you will probably lose their trust. So, make sure that you never prompt anyone to buy the product directly. Remember, you are recommending the product. The more quality recommendation you make, the more prone your visitors will come to you.
- Promote products of various merchants
When you promote products of only one merchant, you will get stuck with their commissions, landing pages, and conversion rates. Thus, it is essential to work with several merchants and promote a wide range of products. Adopting this strategy will help you broaden the number of affiliate commissions you earn.
Affiliate Marketing is an ideal solution for those looking to make money online. Working with advertisers helps affiliate marketers to generate passive income from the comfort of their home without any hassles of producing their own product or service. Even though the success of such a job depends on the skills of an affiliate marketer, it can prove as a profitable second job or an effective way of meeting income goals.
Always keep in mind the affiliate marketing trends, stats, and strategies included in this blog and become an affiliate now. Engage your audience effectively and magnify your paycheck.