How to Monetize Website with Affiliate Marketing
There is a plethora of methods to choose from for website monetization. And all of them are opportunities to make money for either making a living or getting an additional income from your website.
In this set of articles, we will show you Top 10 monetization methods that will help you generate revenue in 2020.
- Advertisements – how and when to use them right
- Google Adsense PPC magic wand
- Sponsored posts
- Monetizing with affiliate offers
- Creating and selling your own digital product
- Making money on donations
- Building your own eCommerce platform
- Selling online courses
- Providing quality consultation services
- Offering password-protected content membership content
We’ve unveiled the secrets of Advertisement and Sponsored Posts in our recent articles. Well, it’s time to get to know how you can effectively benefit from Affiliate Programs with your website.
The best way to monetize website #4: Affiliate Marketing
Affiliate marketing is one of the easiest (not to mention quickest) methods to monetize your website traffic. The reason behind earning passive income with minimal effort is simple: you present to website visitors only target offers. What do target offers actually mean? How to use them to earn passive income?
For example, you have a blog about personal financial management. And you’d like to find an affiliate offer that is potentially interesting to your website visitors. You would most likely want to display a bank service or a credit card offer rather than pizza discounts on your website.
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Once you’ve chosen a partner for affiliate marketing, you place a banner or a link on your website that contains your affiliate link and directs your visitors to the offer. Whenever someone uses that link to sign up for the particular offer, you’d be compensated with an affiliate referral payment (in the amount of $50 – $100 for every referral in case of credit cards affiliates). Of course, the amount can vary from a couple of cents to hundreds or thousands of dollars per deal, depending on your niche (Real Estate deal worth more than pizza, just to say) and the particular affiliate program conditions.
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There are two main types of offers:
- Cost Per Action (CPA) – is mainly lead generation offers
- Cost Per Sale (CPS) – is an actual purchase of the product/service
For instance, a Cost Per Action offer could be a service request where users submit their contact information to get a quote and additional information about the service.
In the meantime, Cost Per Sale requires a purchase to be completed in order for an affiliate payment to be issued. A CPS offer assumes that the consumer actually purchases the product. This is the reason why the Cost Per Sale commission is generally higher.
How do I start with Affiliate Marketing?
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First of all, begin with finding products and services you really like and would love to recommend to others. Choose them carefully – promoting bad quality products may lead to making your visitors lose trust in your website.
Then, what you do next with the affiliate program highly depends on your niche. There are several options for you to start monetizing website with affiliate offers:
- If your website is in the niche of the physical product, you may want to pay attention to the Amazon Associates program. You can choose from a wide array of products in dozens of different niches.
- Clickbank might also be a good choice if your niche is connected to the info products. There are numerous programs in the wellness and health niche, as well as other opportunities for affiliates.
There are other famous websites that use affiliate marketing like Nerdwallet.com, Outdoorgearlab.com, Thisiswhyimbroke.com, etc. Yet Amazon and ClickBank are the two most popular affiliate partners working with millions of websites.
If none of these suit your website monetization vision, just search your niche or keyword and then “affiliate programs”. Businesses always want you to be their affiliate, so there is something for sure you’d like.
We can’t but mention the pros and cons of Affiliate Marketing programs.
The good thing about monetizing your website with Affiliate Marketing is you don’t have to worry about the product yourself, no need to handle customer information, and deal with shipping or returns – you just recommend the product and you’re done. Definitely worth trying.
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Don’t stick to one affiliate program. You risk to miss out on one of the most powerful strengths of this monetization method – a wide range of income streams. Earning from multiple sources can take a little more effort since you have to apply to more programs. But, the payoff may be more than worth it.
Find suitable affiliate programs, choose interesting offers and tools to embed in your website, and start earning money with what you enjoy. Still don’t know how to do it? Contact us for a free quote and we will unleash the potential of your project together!
