Hi Peter, I personally have never tried promoted pins on Pinterest but it’s on my to-do list. I’ve heard mixed reviews (they made some changes back in June or July on ads that seem to favour bigger companies). I have heard however that if you promote a pin, your whole account gets a bit of a lift. I would definitely recommend giving it a go with a small dollar amount to see if it works, I think I will try too and will report back!
Next, you need to make sure affiliate marketing makes sense for your own products in terms of profit margins. If you’re selling products with a very low profit margin then giving away part of the profit as commission to your affiliates, you might want to think twice. If you find yourself in this situation, you may want to consider increasing the price of your products to include the affiliate’s commission.
Marques Brownlee, who is mentioned in this post and featured in our Top Tech Reviewers, is a fantastic example of how to include affiliate links on your YouTube videos that actually provide viewers with even greater value. With such high quality, professional tech review videos, it’s easy to see why he has a YouTube following of nearly 3.5 million people, and receives well over a million views on many of his videos.
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What I love about affiliate marketing is it is so easy to get started! You don’t have to have a huge audience and you don’t have to spend hundreds or thousands of hours creating your own products. Plus, for a lot of people, it is a natural fit. Think of how many times a month you refer a friend to a great place to eat, a life-saving toy, or your favorite new mascara. If you are already doing that, chances are you will rock at affiliate marketing.
Nice tips here, Steve. I’ve been a huge fan of YouTube for niches other than IM-related stuff. Apart from a few outliers, my Blogging Bookshelf and The Backlight videos never got too many views. How do your SSS vids fare? My Amazopia videos, though, have 220,000+ views now and are the main source of traffic for the blog. And I know you’ve said in the past that you get lots of YouTube traffic for your main niche.
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Second, you need to nurture your email list. Michelle didn’t even start an email list until she had been blogging for 2-3 years and only began focusing heavily on it last year. Those email subscribers are your loyal followers, your tribe. They are the ones who want what you have to offer and will become your customers when you are ready to sell something, whether that’s through creating a product or through affiliates.
Every single brand has a different commission rate. So Amazon’s will go up to 10% depending on how many products you sell in a month. But some brands will only do 5%, and some will do 50. Some will do 20. So you’ll have to look in the terms and conditions of that advertiser to see what kind of commission they get and whether you want to work with them or not.
So instead of paying all this overhead up-front, you tell your mom who has a weekly book club that if she mentions your lemonade to her friends and sells a cup, you’ll give her 5 cents for each 25 cents you earn. This way, there is less risk (since there are less up-front costs), and you only pay out the commission if and when your mom actually sells a cup.
I know you are seeing dollar signs, but don’t go crazy with pinning a million affiliate links. That will turn off your followers fast! Using affiliate links can be done tastefully! You have to keep with the aesthetic of your brand. If you want to pin with an affiliate link, make sure your images are in the same style, look, and color. Having inconsistent boards and pins will easily make you lose followers and potential clients.
The online lead generation is a multi-billion dollar industry. Done right it can be far more profitable than many imagine. Everyone that I know that is in the business and knows what they are doing, for the most part, does 6-7 figures. While that's a huge range, much comes to one's ability to scale and effectively build / manage the infrastructure needed to scale.