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Affiliate Marketing Techniques: How to Set Up Your Very Own Passive Income Streams in 7 Easy Steps
Affiliate marketing techniques that are well crafted and implemented can result in your generating passive income streams online very quickly.
In this article I will present a method of making money online in only seven easy steps that could result in a passive income stream being built over time. And who cannot be intrigued by the thought of generating a very real passive income stream or two?
Before you can succeed online in affiliate marketing there are a number of important steps to undertake in order to earn that first dollar from this endeavour. If you want to replace your 9-5 linear income with a passive income from affiliate marketing you must commit to a regimen of hard work and discipline and if you can do that, you will be on your way to success in the affiliate marketing arena, no matter which program you choose to promote.
If you want to earn your first dollar and then many more after that, you must commit to following these seven steps.
1:- Decide on a niche that you will exploit.
This step is very important and yet very misunderstood by many new affiliates first starting out in their online endeavours. Take the time to select your niche carefully. Some things you may wish to consider are as follows:
a. What are my main interests?
b. What subjects can I easily and quickly write about?
c. Is your chosen niche ripe for exploiting, or is it saturated with too many other marketers?
d. Is the market large enough to allow you to make a passive income from it?
e. Is the demand for product sufficient to allow affiliates to make a good income?
f. Are there one or more affiliate products in this niche that can be joined to build your passive income streams?
If you can answer these questions in the affirmative and you are confident in your abilities to follow directions provided by the program operator then you can select one you want to promote and begin. If you determine that there are enough people in this niche seeking solutions to a problem they have then you can offer that solution from one of the affiliate programs in that niche.
2:- Research the available Affiliate Programs and select one that impresses you.
Some niches have many affiliate programs to serve it while others have very few. Some affiliate programs have better resources for the affiliate to promote the product than do others. You will have to review each program that interests you and compare ad copy, banner and email resources as well as articles and blog posts on the product and then you will have to decide which one you want to promote to build your passive income stream. Look for affiliate programs that pay more per sale rather than less, and look for those that are well accepted in your chosen niche.
3:- Build your website and make sure it is keyword rich and SEO optimized.
This is not as difficult as in past years thanks to many innovations and advances in algorithms in this area. WordPress themes are the best resources to use as much of the grunt work has been done for you. All you do is point and click and your site is ready to go. Things like keyword richness and SEO optimization are more technical in nature and you should consider retaining professionals to assist you with this aspect of site building. A good and well done website will help you to start building your passive income stream by being attractive to search engines once it goes live.
4:- Obtain good quality content for your site.
Whether you produce it yourself, have someone write it for you, or buy it from an existing source you have to obtain good content to populate your website. Google and other search engines love good content in a website and the better your content the more your site will be favoured by the search engines, which is one of the first goals in putting up your site. A content rich site is a good start to building your passive income and to grow your business.
Some examples of good quality content are free ebooks, ecourses, information products, blog posts, product reviews, suggestions to resolve problems or perceived problems in your chosen niche.
5:- Build your list and audience in your chosen niche.
By building your mailing list and targeted customers you will be off and running to generating the passive income you seek through affiliate programs. This is a good place to use social media like Facebook, Twitter, Linkedh and other media to promote your site. An often overlooked way to generate an audience, build a list and drive traffic is to your site is to post comments on high traffic blogs in your niche which should in turn result in many backlinks to your site that will favour your site in the search engines even more, thereby resulting in even more traffic to it.
6:- Promote your affiliate offers through your affiliate link.
Offering something of value in a freebie to your visitors will build your subscribers and mailing list. Make sure that what you offer as a freebie is valued in the niche you are targeting. There are several methods of promoting your affiliate link including swap ads with others, banner ads placed in strategic places, and email marketing to prospects.
Committing to a daily routine of marketing your site and driving traffic to it will result in visitors becoming subscribers, subscribers becoming customers, customers producing sales and sales translating into income. And income becomes passive income, whereas passive income becomes a passive income stream and you have succeeded in what you set out to do at the outset.
7:- Review your processes, repeat the successes and delete the failures.
A good affiliate marketer takes stock of his business on a regular basis and learns from his past efforts. He models his successes and repeats them. He learns from his failures and deletes them. Over time, he has purged all the bad decisions and kept the ones that make him money and those that have taught him how to make money online.
When one niche is "conquered" a good affiliate marketer will begin the process anew and identify another niche to exploit. A passive income stream once developed will continue to pay you for many years. A second passive income stream developed from a second niche targeted and exploited will result in another passive income stream for your bank account.
An affiliate marketer who masters the art of making money online can carry that skill across niche lines and there is nothing that could stop him from making money in any selected niche that he chooses.
When one masters the art of niche marketing one can easily branch out into other areas of ecommerce and expand one's reach.