An average ROI of $15 for every dollar invested in affiliate marketing is 1400%. So, how do you start with affiliate marketing from scratch?
Building a profitable affiliate business as a beginner can be a challenge.
In this guide, you will learn how and where to start your affiliate journey, especially if you don’t have a budget to begin with.
Why should you start an affiliate marketing business?
If you are still wondering what affiliate marketing is, it’s a popular marketing method to earn money by promoting products or services through affiliate links that generate sales, leads, or clicks.
There are numerous benefits of affiliate marketing for both participating parties—an affiliate and a company that runs an affiliate program.
Affiliate marketing can be a very profitable business model, and here are the main reasons you should start it:
1. The risk is low.
If you’re an affiliate, the only thing you lose if you don’t make people buy the things you promote is your time. There’s no fee to pay for not hitting your sales mark, just like there’s no fee for signing up for an affiliate program.
In the same way, businesses don’t have chinese student contact list to pay a fee to an affiliate if they don’t generate traffic, clicks, leads, or land sales. In contrast, social media influencers charge a fee for a partnership with brands no matter how many or little sales they make.
2. Passive income.
Your goal is to create a vast selection of affiliate marketing content that will generate commissions months and years after creation.
Throughout the years, your affiliate content builds up into a solid platform that gives you credibility, domain authority, and reputation.
3. Flexibility.
As an affiliate marketer, you can work from anywhere in the world at any time. As long as you have internet connection, you can create content and live the life of digital nomad.
4. Win-win and win!
Not only do businesses make money from the sales you help to make, but you also make money through the affiliate programs you sign up for. Customers also benefit from well-crafted affiliate marketing.
Since affiliate content is very customer-centric and focuses on delivering as much value to your audience as possible, it helps them make informed purchases.
How to start with affiliate marketing: Your Step-by-step Guide
1. Choose a niche
When you’re just starting out, you need to think of the fundamentals of affiliate marketing. The basis on which you build your affiliate business is a niche.
A niche in affiliate marketing is a specific subject or set of topics in which you build your affiliate business.
The niche should be a combination of your expertise, knowledge, and skills, together with earning potential. Not all niches in affiliate marketing are paid equally.
The most profitable affiliate niches in 2024 are:
1. Money:
Products like credit cards, insurance, and investment services often have high commission rates.
Your content topics can include things like Bitcoin, mortgage, debt settlement, personal finance, credit cards, investing, and so on.
2. Fashion and luxury:
Beauty and fashion affiliate marketing is booming, and you need one look at TikTok and Instagram content to prove that.
Premium beauty and luxury fashion (handbags, watches, footwear) are particularly profitable since they are high-ticket items. It means that even a small commission percentage can bring you high earnings.
3. Beauty:
The beauty industry is enormous and continually growing, and it’s worth almost $430 billion in revenues across the globe.
What’s particularly appealing about this segment is the fact that the beauty industry is resistant to economic recession, known as the “lipstick effect.”
It’s due to the psychological motivation: as income declines during a recession, women purchase lipstick instead of clothing or jewelry in order to “treat” themselves in a more frugal way, the research shows.
The products you can promote with affiliate links typically include skincare products, cosmetics, beauty tools, and hair care. Product reviews and makeup tutorials are particularly popular content in this niche.