An effective affiliate marketing campaign in a great deal depends on your financial aspect (affiliate commision etc.) Due to the expansion in affiliate marketing, the challenge most affiliates face is that the majority of keywords related to specific products and services have a tendency to be super-competitive. On top of that, as an affiliate, you need to get creative with key phrases to gain maximum traffic. Thus, it’s easy to see how the financial aspect can be under attack all the time.
We sympathise but also know there are ways to gather strength before venturing into these campaigns. After all, it’s all about revenue so, in this post, we’ll show you some affiliate marketing tips that have a direct impact on your financial operation. They will help you save money and show you where you can invest it in order to improve your campaigns for more traffic and conversions. Check it out.
1. Testing Will Do Wonders
“Testing will do wonders” - isn’t that a rather ordinary thing to say? Were you expecting some fancy, industry-language tip? Affiliate marketing can be complex enough to the point where people forget the simplicity behind it. When you have a successful element in your campaign, do you ever think about implementing it in a new advert and see if the new ad also works? It’s a two-way street - you can also identify any factors that yield unsatisfactory levels of performance and remove them. This is done through routine testing (aka. trial-and-error testing) where fine-tunings will provide better results and a more successful affiliate campaign. Here’s the general formula:
Just be sure not to overdo with the analysis - don’t focus too much on data and stats that you neglect your marketing effort altogether.
2. Don’t Force Your Bids
One of the regular mistakes affiliates make is forcing their bids. We understand that the market is competitive and that everybody is fighting for that ultimate keyword or key phrase, but that doesn’t mean your piggy bank should suffer aimlessly for it. Here’s the thing - being the highest bidder means you get a more visible position but it doesn’t guarantee a click, which is what you are after for. Having a prominent position in the search results is all fine and dandy until you realise it’s not quite profitable. You don’t need to be the highest bidder, especially if you are already paying the average amount per keyword. That’ll do and your ad will run enough times to curb your appetite.
Not to just leave you at that, here’s an example of what you can do. Start off with a low(er) click price and increase it periodically (say, every week). Granted, there won’t be much traffic at the beginning but it will be cheap. Don’t be afraid to experiment a little to achieve greater efficiency. After all, the aim is to pay as much as possible for the highest amount of traffic conversion, right?
3. Invest in a landing page
With that in mind, there is one element of an affiliate campaign that could be key in the long run - a landing page. You see, there are a bunch of affiliates who believe that their work is done with the placement of the affiliate advertisement. To be more precise, they do only half of the job. An affiliate advert’s aim is to provide a reason for people to click on it with all the questions they might have. A landing page effectively answers those questions and rounds out the process.
An example of a landing page
Say you are promoting a payment service (an obvious choice, right?) in your ad. You can’t possibly convey all the aspects of the service, such as the cost, availability, integration, and so on and so forth. Naturally, the ad leaves question marks in the minds of the prospective visitors. That’s what a landing page is for - to provide all the relevant and readily-available information and entice visitors, otherwise, they’ll surely click away. The best part is that you only need a basic HTML knowledge to create it, which you can easily obtain through free online courses or expert blogs.
4. Save Money on Payment Fees
Often an underappreciated part of the whole online advertising process is the payment processor, in the sense that affiliates don’t realise or pay enough attention to all the little costs that pile up in the end. We are talking about various charges and fees regarding setting up the account, sending and receiving money, currency conversions and so on. They may seem minute but those with a decent scope of operations should think twice about the final tally. We ask you this - why not shop around for a better solution that gives you more by you paying less?
For instance, affiliates with global income can have their money transferred in the relevant currency. By relevant, we mean local. There are services that offer in-account currency conversions at attractive rates so an affiliate, when withdrawing the funds, can avoid paying high conversion fees and fees for receiving money in a foreign currency, plus you can use it to pay for your campaigns or other services. Sometimes, receiving money entails much lower fees than receiving it via an international transfer. Sometimes there are no fees for opening a local bank account. These are all some of the benefits a specialist payment service that has a focused operation on e-commerce and is specifically tailored for merchants, thus understanding their needs better than a bank or a generic payment processor.
Affiliate marketing can have its share of complexities, which, in turn, can reflect on your finances. While there is no doubt it can generate a good amount of income, affiliate marketing can also take away from your wallet if you don’t know where to look. Hopefully, this post showed you where you can squeeze the most out of your affiliate campaigns, either by extensive testing to see what goes and what not, by being smart and a bit cheapish, by investing in your campaign in the form of a landing page or simply by switching to a more tailored payment processing solution and saving money. That way, you’ll maintain a satisfactory level of income in the long run.
P.S. Want to learn more? click below ==>