Best Ways to Diversify Your Affiliate Marketing Strategy
The internet has created a plethora of income opportunities for entrepreneurs, among them, affiliate marketing. In recent years, Amazon and other major brands have made it possible for affiliates to promote their services and gain income streams in return through monetized links.
But to stay competitive in the affiliate industry, you have to diversify your marketing portfolio. Here’s how:
PPS vs. CPA
Affiliate marketing creates a chance for both big and small businesses to lower marketing costs and stabilize profits. There are two models for this: ‘pay-per-sale’ (PPS) and ‘cost-per-action’ (CPA).
PPS models continue as the most popular approach because they are the most straightforward, but they are challenging. Not every customer who sees an affiliate link will click on it to buy. Some skip the link altogether and buy directly from the seller, leaving your hard work for naught.
CPA models mean that marketers can define a certain action, and affiliates earn money by successfully encouraging customers to perform that action. This action includes clicking, completing a form, or submitting contact details. CPA marketing training can help you identify the nearly limitless actions.
Whether you want to upgrade your existing marketing strategy or get started on a new one, these models will help provide a diverse and successful template.
When diversifying your marketing strategy, you must know your traffic sources. How do the majority of visitors arrive at your site? Do they visit through direct traffic by typing in your website URL or through referral links? Do they access your site through organic searches or from campaign traffic?
These questions will help guide you in knowing how to market to your audience correctly. Understanding how people visit your site can help turn them into successful leads for the company advertising through you.
With a grasp of your current traffic sources and those you wish to create, you can begin creating a custom marketing campaign. The options listed below show only some of the possible methods. You don’t need to use all of these. Instead, you should create a mixture of the best suited to your case.
Email List: an old-but-gold campaign strategy. The trick to this approach comes from staving off the loss of contacts as people unsubscribe or change email addresses. Include shareable content and matching email content to keep people engaged and subscribed.
Push Traffic: a somewhat new feature that notifies users with content in the form of banners or popups. This approach forces users to engage with advertised content and has a high open-rate.
YouTube Advertisement: not only does YouTube boast the vastest user population of any website, but also its advertising platform stands out as very advanced. The ability to target specific audiences with matching interests saves you marketing resources. Plus, YouTube’s own ‘cost-per-action’ threshold of at least thirty seconds viewing also saves money for marketing.
Native Advertisement: an approach that attempts to blend the product with the platform. This ‘blending’ includes Facebook’s promoted stories, Twitter’s promoted tweets, or Tumblr’s promoted posts. The customer-audience trust on platforms like Instagram also provides chances to reach well-suited audiences.
Constant reviews remain a vital part of a successful marketing strategy. Once you begin using a variety of marketing tools, establishing and monitoring key metrics becomes critical. There’s no use in diverse approaches when certain branches of your strategy fail to reach people.
Monitor traffic, clicks, and time-spent statistics. These data help identify weaknesses and strengths of an existing strategy. Digital marketing dashboards can bring together various metrics on a single, easy-to-read page.
With much of online marketing, there remains the danger of scams. Affiliate marketing, as all online transactions, are open to abuse, but knowing trusted partners and practices can help you avoid these dangers. Always double-check online when considering entering an online marketing model.
Ultimately the most important question to ask yourself always is, ‘what is my niche?’ Marketing begins by narrowing the world to an audience you will reach with success. Knowing why you are marketing a product or service will force you to consider who would want to hear your message.
It is easier and more rewarding than ever to take on the challenge of online marketing.