Monetizing Your Blog: Part 2 – Affiliate Marketing
Once a blogger has decided that they want to make some money from their blog, the question then becomes how to go about it. In the first part of our series we went over one of the most common options – monetizing your blog through advertising. In this second part we will go over another common method, and one that is similar to advertising – Affiliate Marketing.
What Is Affiliate Marketing?
Affiliate marketing is defined as “a marketing arrangement by which an online retailer pays a commission to an external website for traffic or sales generated from its referrals.” Essentially, you promote a product for someone else, and if it generates a sale, you receive a commission from it. Unlike advertising, in which you get paid simply for showing ads related to another company’s products, with affiliate marketing, you get paid when there is a sale. Now, you’re probably thinking “Well, isn’t that harder?” And the answer is usually yes. However, the rewards are potentially greater. Depending on the product you are selling, and the commission you receive for a sale, you could earn more than you would with advertising. In addition, there are more ways to market affiliate products than there are ways to advertise.
For example, with advertising you are essentially limited to placing ads on your website – whether this be in the sidebar, inside the content, or as a pop-up. With affiliate marketing, you have all of these options and then some. You can place ads marketing your affiliate product, send out an email promoting it, or even write entire blog posts around it. Since you know what the product is, you can tailor your marketing approach to fit it – unlike with advertising, in which you may not know what ads will pop up on your website.
If monetizing your blog through affiliate marketing interests you, here is how to get going.
Before You Get Started
There are a few things that you need to do before you begin with affiliate marketing. For starters, you need to pick a niche. If you already have a blog or website up and running, then you already have a niche. When choosing which product you want to market, you’ll want something that fits into your niche. For example, if you have a blog about repairing computers, a product that removes computer viruses fits right in. Don’t just sell any product that offers high commissions – find something your audience will benefit from.
Additionally, don’t promote any product until you have researched or tried it for yourself. It is a little unethical to promote a product to your readers if you don’t actually know if it’s any good. You can either purchase the product yourself, find unbiased reviews of the product elsewhere online to ensure it is of a high quality, or ask the company to send you a free product in exchange for a review.
Finding An Affiliate
Now, with your niche chosen, it’s time to find an affiliate. There are two main ways of going about this. The first is by going to an affiliate marketplace website. These websites connect bloggers and website owners, like yourself, with companies or individuals who are looking to market a product. You’ll be able to sift through all of the products available, sort them by the type of niche you are after, and compare their commission rates.
On these websites you will also typically find all of the tools you need to market these products. You’ll be given a unique link to the product that you can share with your readers – and when it’s clicked, a purchase made will be credited to you. Some companies will also provide you with banner ads that you can ad to your website, or other marketing materials.
Some of the top affiliate marketing networks are ShareASale, CJ Affiliate, and Rakuten Linkshare, making them a good place to start. For others, you can check out this list from Make A Website Hub.
The other way to find an affiliate is by directly connecting with a company. Perhaps you know who some of the large brands are in your niche, or you’ve been approached by a company looking to promote their product. These set ups will vary based on the company you partner with, but they are all relatively the same. You promote their product, and if it sells, you get a commission. Be sure that any company you partner with is reputable, and that there is a secure way to track sales you are responsible for.
How To Market Your Affiliate
Once you know which product you’d like to promote, the next thing you need to pick is a marketing method. Since you’ll be doing this primarily through your website, there are a few ways to go about this.
- Blog Posts – The first thing you can do is write blog posts about these products, or mention the product in some of your related posts. For example, you could write up a review of the product, and then include a link at the end of the article directing your readers on where to purchase it. Or, let’s say you are promoting an ebook about weight loss. If you have an article about healthy habits, you could include a link to buy the ebook somewhere in your article.
- Place An Ad – The next place you can promote your affiliate is through an ad on your website. Many affiliate products will provide their partners with things like web banners, that you can then easily place on the sidebar of your website. These work similar to other advertisements, but instead of getting paid when someone clicks on the ad, you get paid if someone purchases the product.
- Email Blast – Lastly, if you have an email list, you could send out an email promoting the product. For example, if you know your readers are interested in weight loss, am email alerting them to an informative ebook is something they might like. However, keep in mind that no one likes to be bombarded with spam. Only send our promotional emails from time to time, and only if you think your subscribers will benefit from them. If you send too many emails, you may find that you end up losing subscribers.
No matter which method you choose, it is a good idea to let your readers know they are clicking on an affiliate link. You’re treading on murky ethical waters if you promote a product to your readers without letting them know you will make a profit from it.
Monetizing Your Blog With Affiliate Marketing
When done correctly, affiliate marketing is a solid option for monetizing your blog. The key is finding a reputable product, promoting it honestly, and marketing it in a smart way. If you find a product that you think your readers will like, you could earn a steady stream of income from sales. However, if you promote a product with low quality, or are dishonest about what your readers can expect from the product, you will quickly lose credibility.
Additional Resources:
Affiliate Marketing For Beginners – The Ultimate Guide
A Beginner’s Guide To Affiliate Marketing
The Best Affiliate Marketing Platforms
Common Rookie Mistakes for Sending Out Newsletters