However, you would not be sure this is the right time to build an affiliate marketing business in 2020.
The answer is yes.
Although the barrier to entry is higher today than before, the truth is, the internet is STILL very much in its infancy, and most people just haven’t caught onto this business model yet.
In this article, we will discuss how to build an affiliate marketing business, the state of affiliate marketing business, its growth trends, and the key components for success in building an affiliate marketing business.
The State of Affiliate Marketing Business and Growth Trends
The growth in internet usage and online spending has triggered additional growth in the affiliate marketing business space, including much wider adoption by major retail brands.
Firstly, let look at some data fact.
% of Total Retail Sales
With the surge of online spending and technology pushing forward, building an Affiliate Marketing business has been more encouraging than before!
The Foundation Process of Building a Successful Affiliate Marketing Business
The foundation affiliate marketing’s business modal has remained unchanged.
Pat Flynn has the best definition of Affiliate Marketing:
"Affiliate marketing is the process of earning a commission by promoting another person’s (or company’s) product."
Having said that, we took a look at it's pros and cons being an Affilate Marketer:
1. Little or no investment to start.
1. Take time to generate traffic unless you use paid ads.
2.No product creation.
2. Less control over products/services and prices.
3. No product holding.
3. Highly competition and audience fatique.
4. Low risk.
4. Offer fatique.
5. Passive income potential.
5. Not all affiliate programs are the same.
6. More freedom.
6. Risk of links highjacking.
- Looking for quick cash.
- Hate to promote.
- Easily get discouraged.
The Key To Traffic Success
An affiliate marketer has a plethora of viable traffic sources. It is difficult for affiliates to measure which one route to focus.
ProfitWorks Inc., in its research paper, has confirmed that SEO search traffic has converted the best. SEO efforts are significantly better in terms of return of investment (ROI) and time than social media marketing.
One of the key factors is that search traffic via SEO is a much more engaged audience that is actively looking for information and ready to make a purchase.
Rather, social media marketing is more of an interrupt marketing strategy.
Another factor that is critical to your search traffic in 2020 and beyond is your mobile audience.
Why is it important?
Here is the top 10 mobile user statistics:
2. 40% of online transactions are done using a mobile device.
3. US mobile search ad spending estimated at 28.12 Billion in 2019.
4. More than 50% of websites are using responsive web design technologies that work for all devices.
5. More than 3 over 4 shoppers use mobile devices along with physical shopping.
6. By the end of 2019, mobile advertising will account for 72% of all US digital ad spending.
7. Nearly half of users read reviews of all purchases on their mobile phones.
8. Website speed is important for more than half of the mobile users.
9. Nearly half of mobile users switch to your competitor instead, after a bad experience with your mobile site.
10. 3 out of 4 teenagers regularly make purchases online now.
Starting from July 1st, 2019, Google announced that it would start indexing and ranking on the mobile version of a page first instead of based on the “desktop” version.
How to Make Sure Your Website is Mobile Friendly:
1. Check Your Website is Mobile Friendly or Not.
2. Use a Responsive Theme on CMS.
In other words, this means that they will automatically respond to the user’s behavior and environment based on screen size, platform, and orientation.
Also, this includes images, content, plugins, and navigation - because what your users’ experience is far more important than how well your website designed.
Further, if you are using WordPress’s website builder to build an affiliate marketing website, your theme will be responsive.
3. Avoid Cumbersome Themes and Plugins.
They will only slow down your website performance, and this becomes very noticeable on mobile devices.
4. Cache Your Content.
Further, this improves your website’s speed significantly and decreases the load your website requires to serve content.
5. Optimize Image Size
Furthermore, the bandwidth of mobile devices is much smaller than desktop’s and causes longer loading time.
Remember, mobile-friendliness isn’t just about having a nice site design.
Shrinking the file sizes helps load the page faster and generally contributes to your site’s positive and optimized image.
6. Use Google’s Free Testing Software.
I suggest you check your web pages with PageSpeed Insights to ensure your site is above the ideal 80/100 mark for mobille. The closer to 100, the better.
7. Test Yourself for Design and Experience.
You can test it out for your yourself. This something easily you can do, in particular if you regularly work on your website development from a desktop or laptop.
So you can have a good grasp of your mobile environment.
8. Get A Managed WordPress Web Hosting Service.
Every website needs hosting and makes sure that you choose a Managed WordPress Web hosting provider with a great high-speed rating.
If you aren’t operating a website that loads efficiently to your visitors, they will leave.
This poor user experience is also one of the most critical ranking factors in Google Core’s updates.
Search Traffic From Social Media Platform
There are 2.65 billion users on Social Media platforms in 2019. You can leverage social campaigns to create an affiliate marketing business in any niche.
However, the value of a free profile and the related “reach” has been diminishing.
Nevertheless, paid advertising on social media platforms will remain a viable means to obtain quality and high converting traffic in 2020.
The 4 Key Components Of Building An Affiliate Marketing Business
It is exceedingly difficult to convert irrelevant traffic with affiliate marketing offers, so you must understand the idea of relevant traffic.
In this context, relevance is related to the keywords or search phrases you used that are the trigger points for targeting your audience correctly.
1.1. Pay Per Click Or SEO Campaign.
Google remains the largest search engine platform with an overall 89% market share worldwide. Bing & Yahoo, which came second.
Social media, Facebook, Instagram, Twitter, Pinterest, and LinkedIn, are all going to remain viable sources of quality traffic in 2020 and beyond.
However, in 2019 Google has sunset Google +, a social media platform that has been anticipant to happen.
1.2. YourTube - Video Traffic
Including video into your daily business activities can lead to another viable and significant stream of traffic to your affiliate marketing business.
The audience within YouTube is an engaged one. It will also convert at an extremely high level because video content contained all the elements of trust.
As a precaution, all affiliates avoid Traffic Exchanges & Solo Ads because these types of traffic have been either bogus or low converting.
All successful affiliate marketing businesses must start with an overall plan. Still, within that overall strategy plan, the initial focus is always traffic.
Without traffic, you won’t be able to generate revenue for your affiliate marketing business’s survival.
The continued growth of the internet and usage amongst users will lead to growth in traffic opportunities for affiliates through 2020.
Thus, trust goes hand in hand with your ability to captivate and to convert your audience. People get better at research and expect quality content, and they also expect helpful information.
If you cannot provide this, you will not retain their trust, attention, or get the sale.
How To Establishing Trust Among Your Audience.
- Offer valuable content that help people
- Don’t constantly pitch (which will hurt rankings and losing trust quickly)
- Over-deliver your promise
- When you promote something, make a recommendation and give people choice
- Always make yourself available to help
- Always be tranparency with your business dealing
The faster way to do so is to relay your content in an informative manner, be helpful, offer insightful content, and engage with your content.
If you can do this, selling as an affiliate marketer will become much easier and seamless.
3. Customer Relationships.
According to BDC Client Experience Manager Chris Palin, that experience is all about “how you exceed customers’ expectations.”
You must connect and create a relationship in a trustworthy and selfless manner. From there, you move your customers through the purchase lifecycle to making a buying decision.
There are several customer relationship focal points that you should be focusing on in 2020.
It is true about a customer’s behavior that changes other than the technology that they are exhibiting their purchasing habits within.
So, here are some of the customer relationship strategies you should be implementing in the year ahead:
3.1. Encouraging Engagement/Communication.
Of which these include offering your help, suggesting others share their experience and feedback, although in some cases opinionated or controversial discussions.
When people see that you are willing to engage, and better yet, engaging within the comments on your website by replying to every comment.
You will build much trust in your content, brand, and affiliate product or service recommendations. That is refered to content marketing strategy.
3.2. Email Marketing.
According to statistics, as your email mature, the open rate will dip to 15%. There is no alarming, but continue to build up your list and do regular maintenance to delete those inactive subscribers.
Please remember that you don’t sacrifice an instant commission to build a list if someone is on your site and ready to purchase.
3.3. Authority Content.
Therefore. it will create and build trust in your relationship with your audience and naturally leads to trust you more in your “recommendations.”
3.4. Keep Current, Keep Engaged.
Blog about what is currently taking place in your industry, offer your opinion and insights on current events, and publish industry-related content with consistency and regularity.
4. Happy Customer Make Repeated Transaction
Remember, it is easier to sell to an existing customer than to sell to someone visiting your website for the first time.
Read this related article: Digital Marketing Tools and Resources to help you build your online business.
4 Common Characteristics And Natural Behaviours That Affiliate Marketers Must Have.
1. Work Ethic.
Work ethic means your ability to set goals, work hard, and persist in your efforts until you achieve them.
Never afraid of failure, as we all learn by trial and error until you succeed.
For example, in terms of your marketing approach, you don’t need to be an expert at SEO, SMM, PPC, email marketing, and others.
(3) Niche Immersion.
(4) Goal Setting and Planning.
Your goal should be efficient and achievable. It serves as a timetable for what you want to achieve with your affiliate marketing business.
There are 3 types of goals:
- Bite Size Daily Goals:
Plan your daily tasks each day ahead, in which these goals related to productivity in your affiliate marketing business.
- Weekly/Monthly Goals.
You will rarely complete every goal, but you should knock off as many of them.
- Long Term, Yearly Goals.
Despite that, there a lot of things that can accomplish in a year. Still yet, you never know what can happen in business. You want to be able to remain flexible with your affiliate marketing business.
You can revisit these goals several times throughout the year to make a change.
Conclusion, and Future Guidance of Building an Affiliate Marketing Business.
Given the number of active internet users growing, and people become more accustomed to making purchases online, the audience of prospective customers across every niche will grow.
More and more large corporations adopted affiliate marketing into business models to drive their growth in their e-commerce divisions.
Lastly, we like to hear your opinion of whether building an affiliate marketing business in 2020 is viable or not? Please leave your feedback or comment below:
Free Affiliate Marketing Course
If you want to learn how to make money with Affiliate Marketing, l invite you to take up this free online course which also include a website for you to build up your online business.