Wondering how your website can bring in more income via affiliate marketing? Worry No More! Read on to know more about Monetizing an Affiliate Website
There are many steps and stages in the development of your website. First, you need an idea. Second, you need to start generating traffic. Third, you will begin to Monetizing an Affiliate Website. Most people will struggle most with the second step, but the third step is what will separate who gets the most and least out of their visitors. Click here to find our top-notch affiliate themes, which is exactly what you need to turn your website into an income generating venture.
Monetizing an Affiliate Website is impossible until you first have viewers to generate some sort of income from. One of the biggest mistakes that many webmasters make is when they attempt to put monetization first. Have you ever seen a brand new site where the most prominent element is a banner or link that is encouraging you to advertise with them? This is a perfect example of how you should not be building your website. Monetization is one of the latest steps in your development, not one of the first.
Ways to Monetize Your Website Traffic
The type of traffic that you are receiving will determine how you can best generate income. By type of traffic, I am generally referencing the “quality” of visitors that you are receiving. You may have one site that has 5,000 visitors per day that earns significantly less than another site with 500 visitors per day. An ecommerce site ranking for big terms, like “buy xyz product” is going to greatly outperform a competitor who ranks instead for miscellanous, non purchase driven queries like “how to use xyz product.”
There are, at least for the sake of this article, three primary types of website traffic. If you have an ecommerce site, you are selling specifc products. You want people to visit your site and place an order from you. If you have an informational site, you are likely to receive a bulk of viewers that are most interested in finding out what you have to say, but not likely to be spending any money at any point in their browsing. If you have a decision-driven site, however, you will be able to not only encourage your users to spend money, but you will also be capable of nudging them in the direction of your choice.
Monetizing eCommerce Websites
eCommerce is the most straightforward type of website to monetize. eCommerce is not generally considered an “affiliate” site, but if you are drop shipping or using other similar services, you are essentially affiliating. Since your goal is clear (have visitors place orders with you), the question then develops into how you can most effectively convert your users. If 5% of your traffic is placing an order, you should consider what you might be able to change in order to bump that number to 6% or 7%. This is often times a matter of where and how you present your products and how efficiently your greater sales funnel operates.
Beyond increasing the overall percentage of visitors that convert into paid customers, your other objective with an eCommerce site should be to make the most money per individual user. If your average buyer is spending $50, for example, you can work towards getting that number closer to $60. This can be accomplished by attempting to upsell additional products, directing users to more profitable choices, or by defining where the equilibrium is for the pricing of the products that you sell.
Monetizing an Affiliate Website
Informational websites are, generally speaking, the most difficult type of site to effectively monetize. An example of an informational site would include a site featuring song lyrics or sports statistics. These are the sort of destinations where users primarily want to gather information and leave. You are only going to be able to do so much with this traffic because your users are not at all motivated to either leave your site nor do anything to generate income for you.
One of the best ways to make an attempt to monetize these users is by creative ad placement. In this day and age, with the internet having matured greatly, many people have become “banner blind,” meaning that they do not even notice banners on the websites that they visit. As a result, placing skyscraper and header banners is fairly useless and futile. Instead, try ad placements within content that stands out and encourages interaction. Make your promotion part of the content. No, you aren’t likely to make a killing, but you are much more likely to get clicks if your visitors are inclined to actually take a further look into the ads that you are presenting them with.
Monetizing Review and Decision-Driven Websites
Websites that focus on reviews, guides, etc. have the easiest time in monetizing their users. Since the visitors of your site are often times already looking for suggestions, you only need to provide them with some options. This traffic tends to be the least bit fickle. While you should work to provide honest and thorough reviews, you are still going to be able to suggest where you prefer your users visit next. If two sites offer the same products, and one offers a $50 CPA and the other offers a $75 CPA, clearly you would be best served promoting the latter company first and foremost.
Review websites are all about proper funnels. While most sites want to retain their users for a lengthy amount of time, a review site is fine with a high bounce rate, provided of course that the visitors are on their way to a potential purchase. Don’t go over the top with your links, but make it easy for a viewer to skip to their final destination.
Other Important Aspects that You Should Consider
As you plan your marketing approaches, it is also important for you to take into account how the affiliate platforms will payout out the affiliate’s income. Based on the country where you live, the costs of getting paid varies. It will be very easy to find the same affiliates offering payments using different platforms. Such affiliates will offer you payment through a platform that will feel comfortable using. Also, many successful affiliate marketers choose the most suitable for the ideal content on their websites. However, smarter ones have been found to prefer the highest paying affiliate commissions for specific products and then customize their content to make it appealing to that audience.
The best way to undertake affiliate marketing is through careful selection of the vendors that you want to promote. You should avoid signing up for programs without taking into account whether your site visitors will be interested in such items.
You should instead choose to partner with vendors that provide products that fit into exactly what your site is about. For instance, if your website is about technological devices, then things like web hosting, laptops or mobile device will be perfect for such a site. Adding offers for sweaters to such a website will not be the wisest decision that you can make because these are not related to what your site is about.
After you have selected the right affiliates when Monetizing an Affiliate Website, you should then start A/B testing what is on offer and update your listings regularly. Also, it will be crucial for you to test all the available offers and not only choose those that pay the biggest amounts. Essentially, it is highly likely that you will be more successful with an enterprise that only pays a small commission if, for instance, the vendor has more sales because of the better pricing and products.
Affiliate programs usually update the text links and banners and therefore it’s always crucial for you to keep up with the materials. Also, it will be prudent for you to keep a closer eye on the vendors that are new entrants into the industry and those that keep changing their advertising to announce specials, update offerings and improve conversions. If you can keep up with the changes, then it will be very easy for you to grow your income.