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We all want to have a passive income that will provide us 6 figures income. Who would not want to sit back and chill while still earning money, right? We all want that. However, it is not easy.
I’m sure you have searched on the internet of how you can make it happen. And, whenever you search on the internet about passive income or making money easily, affiliate marketing is one of the top results that you will get. Well, I hate to say this, but affiliate marketing is not as easy as it may seem.
You can earn thousands of dollars through this, but you will need a lot of time and effort to achieve a 6-figure goal. Success in this kind of business doesn’t happen overnight because you still need to work for it.
And honestly, there are only few affiliate industries that gain most of the profit. However, delving with affiliate marketing is not impossible, especially if you got the right card to play– your niche.
Before we go on with various affiliate marketing niches that can get you to your success, let’s try to understand what affiliate marketing is.
What is Affiliate Marketing?
According to Pat Flynn, “Affiliate marketing is the process of earning a commission by promoting other people’s (or companies) products. You find a product you like, promote it to others, and earn a piece of the profit for each sale that you make.”
To put it simply, affiliate marketing is when you promote the products/services of a certain person or company and earn some commission when you sell the products.
The good thing about affiliate marketing is being able to sell a product without even investing or spending money to have your own product. The products are already in the market, and all you have to do now is promote it, make some sales, and get your share of the profit.
Usually, the products will have unique links for every affiliate where customers can access and buy the products. When they buy it through the affiliate links, the sale will be recorded and will be converted to the affiliate’s commissions or profits.
Generally, it focuses on three major factors to work: the merchant, the affiliate, and the consumer.
- The Merchant
In layman’s terms, merchants usually are the producer of the products. However, they can take various forms as seller, product creator, or brands. Whatever form they take, they are simply the ones that supply products to the affiliates.
- The Affiliates
Affiliate marketers are also called publishers or advertisers as they promote the products of the merchant through blog posts and video content. They laid the links on the blog posts and try to drive traffic for possible sales.
- The Consumers
Of course, we need these consumers to keep the business running. They are the sole purpose of selling a product. Why would you even sell if no one will buy, right?
Steps in Finding Your Effective Affiliate Marketing Niche
Step #1: Brainstorming and Researching
You don’t just pick products, create its link, and paste it on your blog, that’s not how you can earn with affiliate marketing. Instead of randomly picking products, try to brainstorm the right affiliate marketing niche for you.
You can try narrowing down general topic niche into something specific to lessen the competition because less competition means more chances of getting sales.
One of the easiest ways to find the right affiliate marketing niche for you is choosing the one that interests you. It is proven to be highly profitable if you are working on selling things that you are passionate about.
You can check this HISS framework when brainstorming for your niche.
HISS which stands for:
Hobbies are the things you like doing in your free time, like playing video games, sports, drawing, writing, or anything that you love doing. Try listing all your hobbies and choose the one that you’re truly passionate about.
Unlike hobbies, interests are those things that you are interested but you might or might not be doing it like your hobbies.
Interests are the things that you are knowledgable about, and you can clearly explain the topic– topics that you can talk about for about an hour or two without needing much research.
Examples of interests are literature, history, business, etc.
Search and Social Media
As mentioned a while ago, researching is essential when you’re trying to find your affiliate marketing niche.
In this area, you will now search the related topics about your list of hobbies and interests on the internet and social media. This way, you’ll be able to evaluate whether those topics that you want to explore are profitable or not.
Step #2: Check your Affiliate Marketing Niche Monetization
If you already found the affiliate marketing niche that you want to sell, for example, you want to sell organic soap, the next step that you need to take is to check if you can make a profit out of it.
Step #3: Check Your Affiliate Marketing Niche on AdWords
AdWords is a tool powered by Google which allows users to see analytics of a certain keyword or topic. For instance, your niche is about organic soap– if you check it on AdWords, it will show you the possible click-through and its competition.
Since driving traffic to your site is your goal here, you have to know if your niche has a high possibility of getting clicks and competition. The formula here should be more clicks but lower competition.
Step #4: Sell the Products
Well, you have to sell the products to get commissions because that’s the sole purpose of affiliate marketing.
Affiliate marketing is not an overnight success– that’s one thing for sure. Pursuing this kind of business needs more planning, especially when coming up with your niche.
Your niche can start with your hobbies or interests, which you can narrow down to those that can be profitable through searching thoroughly.
It is essential to plan your niche because it will let you keep on track and focused.