Data from 2023 suggests that most affiliates earn at least $1,000 per month from affiliate links promoted on social media. When combined with a website or other marketing channels , it’s clear that affiliate marketing can be a profitable full-time business.
According to compensation software company Payscale, the average annual salary for an affiliate marketer is over $56,000 , based on over 7,000 salary profiles. However, many affiliate marketers earn significantly more.
Generally, the larger your following, the more money you can make online as an affiliate marketer. But don't underestimate the power of a small audience of high-value customers – this can be just as profitable.
How much an affiliate earns depends largely on the niche. For example, business-related affiliate programs offer significantly higher commissions than book, media, or clothing programs.
At the same time, it's important to consider a canada phone number for whatsapp niche's conversion rate — the likelihood of a successful referral. Weigh the value of a referral against the effort it will likely take.
Looking to increase your income with fewer sales? Explore high-value affiliate programs .
How to Start Affiliate Marketing in 4 Steps
Choose a channel and format
Determine your niche
Find an affiliate program
Choose your first product
1. Choose a channel and format
The first step to becoming an affiliate is to select a marketing channel to reach your audience and a type of content to create for that channel.
Common marketing channels include:
Organic Search
E-mail
Instagram
TikTok
YouTube
Popular content formats include:
Product Reviews
Lists of “the best” products
Curated Product Recommendations
Product comparisons
Lifestyle content
When choosing a channel and format, consider the platforms you use most and the formats you understand best. Starting with a familiar marketing channel can help produce high-quality content, leading to a more engaged audience.
No matter which route you choose, authenticity is key in affiliate marketing. Without a genuine connection with your audience, converting them into affiliate sales can prove challenging.
2. Determine your niche
When selecting a niche , affiliate marketers generally follow one of two paths:
They choose a niche that they are passionate about
They select a niche based on audience analysis
Choosing a niche that you already have knowledge about can help you appear authentic and trustworthy to potential customers. It also helps you evaluate which products and brands to promote.
Suppose you started a blog when you adopted a dog, to document your journey as a new pet owner. In this situation, it would make sense to select an affiliate niche within pet care. This allows you to promote products relevant to your content and audience.
On the other hand, selecting an affiliate marketing niche based on audience analysis can uncover potentially profitable areas that are less competitive. This approach could help you establish a presence in unexplored areas before other affiliates spot the opportunity.
However, this method means that you will be competing with content created by people who likely know more about the topic than you do. To be successful, you will need to use affiliate marketing tools like social listening, web analytics , and social media insights to understand your audience's preferences.