Making money from affiliate marketing is a dream for many – be it as a means to earn some extra income while attending university or replacing a full-time job. Yet few people have a proper understanding of how to reverse engineer their goals and turn them from a dream into reality.
Ready to make £5,000 each month? Want to know how? Read on!
HOW TO MAKE 5000 A MONTH FROM YOUR AFFILIATE BUSINESS
The simple answer is – you have to make sales and earn commission!
The more complex answer is – it depends.
First of all, affiliate businesses are based on earning commission. You could potentially earn many, many small commissions or you could earn a few big ones depending on the market you are working in.
For example, if you could sell a luxury £20,000 seminar package for a millionaire mastermind then you could earn £5,000 from that as commission. On the other hand, you could be selling 1,000s of spare parts and other cheap products for £5 and making 20p per sale. Or you could be selling popular supplements that pay a generous 30-40% commission per sale or even more, like the ones on the MoreNiche network.
WHY SUPPLEMENTS? WELL…
A report by Zion Market Research predicts that: “Global Dietary Supplements Market will reach USD 220.3 Billion in 2022”.
According to the report, the global dietary supplements market was valued at USD 132.8 billion in 2016 and is expected to reach USD 220.3 billion in 2022 and is anticipated to grow at a CAGR of 8.8% between 2017 and 2022. Here’s an overview of the report: Source
As you can see, it is an absolutely huge industry and two of the largest segments with high commissions are weight loss and fitness supplements. Keep in mind that the total industry is even larger – there’s so much more than supplements – from gym classes, gym clothing and equipment, to selling diet recipe books, to training DVDs and personal training.
However, as an affiliate, you’ll probably want to focus on supplements as they have huge commissions and it is easy to sell them.
There are two great articles on this topic by our very own Affiliate Manager – Karla.
Where do people look for these products? A large proportion go online. And this is where you come into the picture. You educate and guide prospective buyers to the to the products which best suit their needs.
For example, anyone who wants to build muscle, be it getting shredded or gaining strength, could benefit from a range of supplements.
The same applies to people who are trying to lose weight – a good supplement will help them lose weight faster. However, there’s more to consider as some people might struggle with energy levels when losing weight, while others would swear their cravings are the killer problem. This is good news for you since there’s a whole range of products to choose from and suggest for these situations.
If someone is looking at the appetite suppressant section on your site, it’s a sure thing they want products that will help with appetite reduction. Present these well and a good percentage will end up buying via your links and earn you commission.
Let’s Look at The Best Affiliate Programs to Make Money From
Now that we have established two potentially large and profitable sectors in the supplement market which offer between 30% and 40% in commission and sometimes even more, we can try to reverse engineer and come up with a plan for achieving £5,000 per month.
Let’s start. Log in to your MoreNiche affiliate area (if you are not an affiliate yet – sign up now), and navigate to the Offers page. There you’ll see the range of merchants with the newest ones at the top and then the rest in order of ratings and performance.
The most popular at this moment seems to be CrazyBulk, so let’s see what we can gather from their details page.
The first key number we’re interested in is the conversion rate. This shows how many people who come to the site from affiliate sites make a purchase.
At the time of writing it shows 3.57% as the overall conversion rate. This is pretty good and almost double the e-commerce standard of 2%.
What does it mean for you?
It means that out of 100 people about 3.57% will buy, or roughly 3.57 sales per 100 visitors. Or 35.7 sales per 1,000 visitors. If it makes it easier, we can present this in terms of how many people it takes to make sale – using the current statistics about 1 in every 28 people are making a purchase.
For the sake of simplifying the maths, we’ll use 3.5% as the rate.
The second number you want to know is the average commission per sale.
So for example, if the average commission is £40 then you can estimate that to earn £5,000 in commission you will need 125 sales.
Scary? Right! No!
Not really. Because that’s the number you would try to achieve over a period of a month. Based on a 30-day month you would need to achieve 4.16 sales per day on average. Now, armed with these numbers and conversion rates, you can estimate how much ‘warm’ traffic you would need to send to the merchant offer to achieve the desired income.
So we know the conversion rate is 3.5% or about 1 in 28 visitors. To achieve 4.16 sales you need to multiply it by 28 visitors. That’s 116.48 visitors required each day. Or a little short of 3,500 visitors per month who click through your links onto the merchant site.
However, we need to be realistic and accept that not everyone who visits your site (or video, or blog) will go to the merchant site. Depending on your content and design, it could be between 10% and 40%.
With these numbers you should now have a better idea of what it could take.
If you have a very generic site with a lot of light content then you could have a click-through rate of 10% which means that you might need 1,164 visitors to your site daily, in order to send 10% of them through to the merchant site.
At the other end of the spectrum, if you have a very solid 40% click-through rate from your site to the merchant’s, then you might need only 291.2 visitors per day requiring 116 of these to click through and place 4.16 sales as result of that.
So how do you attract these 3,500 visitors to the CrazyBulk site?
As saying goes – you create them, buy them or ‘steal’ them. (Not literally!)
There are many ways, but the most popular option is to build a good website that targets the topic well and is full of high-quality content on muscle building, fitness, training and so on. It should be loaded with tips, good advice on training and, of course, featuring products for maximum performance.
Here are some great articles on building your website and optimising it for free traffic:
8 Steps to Building Your First Moneymaking WordPress Website
An Seo Guide to Ranking Your WordPress Site in Google
An Affiliate’s All-in-one Guide to Optimising WordPress Blog Posts
How to Build Backlinks – Two Essential Techniques for High Website Rankings
Alternatively, you could be a video blogger, or go the social route or build an email list.
This is pretty self-explanatory, yet it’s an often-misunderstood concept.
First of all, do not ever buy traffic from places that promise to send you 10,000 visitors for a tiny amount like £50. This traffic is mostly made of robots or desperate people earning next to nothing by visiting other people’s websites.
Think about it – if they’re working for around £1 an hour, do you think they will have the funds or desire to spend £100 or £200 on products? Of course not. Steer clear of these traffic scam artists.
There are of course also many legitimate sites like Facebook, Google AdWords, Bing, Pinterest, Twitter, RevContent, and so on. However, health and beauty products do have high cost-per-click rates and are on the advertising platform greylist so most likely you will need to engineer ‘a clever funnel’ to get around this.
For example, you could create a landing page on ‘The 10 most popular bodybuilders of all time’ and you could offer a lead magnet and capture their information on the sidebar and at the end of the article. For example, ‘The 6-pack strategy that gets results in six weeks or less’.
Then you could run Facebook ads targeting audiences that are most likely to be interested in seeing this article. Say from every 100 visitors you could get 30 people to give you their email in order to get the lead magnet. Now you have 30 people you can build a relationship with by introducing them to the products you sell via email. If done properly, it could allow you to build great authority and also sell multiple products over and over again making huge commissions in the long term.
You can read more on email marketing and lead magnets here:
The bottom line is: you need to have lots of patience and deep pockets if you are learning this method of traffic acquisition. Make sure you invest in a solid course on the specific platform.
While this might sound shady, actually it’s not that bad. This approach focuses on creating some controversial content on a popular topic and then getting it to go viral so you can then attract visitors to your topic.
For example, there could be event on the news showing Donald Trump in the gym, and you could produce an amusing article about “How Donald Trump makes GAINZ? Could you match his workout?” Suddenly there is a lot of curiosity, popularity and controversy.
If you place the article on your site so people who land there can also learn about products and other stuff, you’re ready to go. Then it’s a matter of getting that article promoted so it picks up viral speed and gets shared on Facebook 1,000s of times, or taken up by some popular bloggers or social media aggregation sites.
Of course, you need to stay within the boundaries of providing accurate information and ensure the content isn’t fake.
Another option would be guest blogging. This involves trying to get featured on someone else’s well-established site. For example, somebody has 1,000s of visitors daily and you can provide them with valuable content that they are happy to publish on their site specifically for their visitors. Suddenly you’re exposed to 1,000s of targeted readers. You would also have an author bio at the end of the article leading to your site or lead capture.
Affiliate marketing is like any other business – driven by numbers, strategies and tactics. Once you know your numbers, you can prepare a plan of attack for how you intend to achieve them. Start with the numbers, then pick the discipline you feel most comfortable with and become really good at it. Good luck!