If you want to start a new venture this year, the affiliate marketing business is what you are looking for.
To inspire you, Statista estimates that affiliate spending in the US will amount to $6.8 billion by the year 2020!
If you want to share a pie of such a huge figure, it is important that you start on the right note. So, how do you do that?
Here are some affiliate marketing rules to help you get started:
Be passionate about your niche
Let’s admit: you might want to start an affiliate marketing business to make a huge amount of money. We get that and there is nothing wrong with it.
However, the problem with such an approach is that it will not help you in the long run. Money alone won’t inspire you to tackle the challenges.
This is why having a passion for your niche is equally important. Search for the best products, delve deeper into the industry, and share critical advice. There is no shortcut for success, and this is the minimum that you need to do.
Keep your followers and subscribers first
As we already discussed, the money-first mindset will not take you anywhere. This is why it must be your secondary goal. So what should be the first?
Your relationship with your followers and subscribers.
Do not just promote a product because you are getting paid for it. Promote it because it is really worth it, and will add value to your customers.
Promoting low-quality products just for the sake of receiving commissions will hurt your relationships with your customers, and will break their trust. This is the least that you want.
Be compliant with affiliate terms and country legislations
Every affiliate program has its own terms, rules, and specific products are often regulated by country laws. Depending on the industry, you might want to list specific products and their descriptions differently for each country. Take a look at the following example – most casino software developers are forbidden in the majority of the USA but are fully legal in the UK. It is essential that you learn what is accepted and stick to the rules or else you might get into trouble.
We will highly recommend you go through the terms and conditions of your partner website properly. Also, don’t forget to include a disclaimer to stay compliant with the Federal Trade Commission. The disclaimer could include that you are an affiliate website and promote the products, and might receive a commission in return.
A lot of affiliate marketing business owners are part-timers. They start great in the first few weeks, and then disappear in the thin air. And then after three-four weeks, they are back again.
The result? Poor results.
Affiliate marketing is a full-time job. If you don’t want to take this up as a full-time business, you should still invest two-three hours per day to build your authority, find the latest industry news, and discover new products.
Make no mistake, affiliate marketing is not a Ponzi scheme which will make you rich in no time. Setting up a business takes time, and affiliate marketing is not different.
Be patient, and consistent and wait for the results to follow. It is essential to be mentally prepared as the task is going to be tough, both emotionally and financially. You might need to invest enough in promoting your business and attracting the right eyes.
But if you stand the test of time – you will get success for sure, once your website is set up.
The next steps
So what are you waiting for? Let’s get started by conducting in-depth research. Shortlist your products carefully, and only promote the ones that look good to you.
Be consistent, patient, and determined, and you will get success for sure.