Do market research to sell more
This may sound like a premium to you who may not have worked much with affiliate marketing before. But when you have a large following online, you can make a lot more money by understanding who your viewers and readers are.
With a market survey, you will define your audience. But in order to do this, you must also define what it is you want to find out with your investigation. This is also when you outsource the task to a company that can do the analysis for you.
With a market survey you can:
- Identify your target group. It might be a group of people of a certain age, with a certain interest or people who live in a certain city.
- Gather information and see trends, interests as well as needs. This makes it easier for you to understand what kind of products and services you should offer.
- Understand more about what is demanded by a particular group and when. Some products may not be relevant all year round.
Methods to get more information about your target audience
It doesn't have to be so complicated to understand more about what your target group is looking for. You can use tools like SurveyMonkey, Typeform or Google Forms to create surveys that you then have your target audience fill out.
You can also arrange some kind of event such as live streaming where those who follow your channel can participate and discuss. Then you can take the opportunity to discuss questions that will give you answers to what your followers are interested in buying.
You can also join conversations on social media to gather information about what people are saying about certain brands and products. There are tools such as Brand24, Hootsuite and Mention to use here.
In addition to this, you can of course keep an eye on analysis for the traffic you have to your website and your channels on social media. When you have a very popular post that keeps getting new views and visitors, it's important to understand who is visiting and what these people might need.
If you are familiar with this, it is just a matter of finding the right company to become an affiliate with to sell relevant products and earn more from your channels!
Learn more from your competitors
It is difficult to hide what is sold with affiliate collaborations. Not just because it is visible on the links. You can quite easily see what others are doing that you are selling with affiliate collaborations. The sites and channels that succeed best sell a certain type of products and services with affiliate links.
If you work towards exactly the same audience, you don't need to reinvent the wheel. It's pretty easy to apply to the same program and see how it goes. Don't forget that the affiliate network you work with can also help you with information about which products and services sell well online. Ask us and we will be happy to advise you!
Expensive product for higher commission or more sales of cheap goods?
As an affiliate, you will realize that there will be bigger payouts for more expensive products. It goes without saying that you will earn more from selling a car as an affiliate than from lipstick or spices. But at the same time, it is much easier to sell skin care products than vehicles and expensive machinery.
Here it is important to find a balance and to understand what people can think of buying online. There are absolutely expensive products that your followers dare to buy online. There may not be as many sales opportunities as when you recommend a cheaper product, but you can certainly make good money from this.
If you have done your research well, you will realize if your followers are price sensitive and if so for what type of products and services. You also notice if they are more or less afraid to order things online through your links.
When looking at possible products, you should consider their prices, but of course also how likely it is that there will be a purchase. This is where the credibility of the store you link to comes into play. Ask yourself and friends and family if they have shopped at the store you are thinking of recommending with your links.
Test yourself for the best results
There is no watertight method to just sell relevant products as an affiliate. The vast majority realize sooner or later that online marketing is often about testing yourself. There will be some mistakes, but you learn a lot from them.
With real insights into what works where and in what format, you will be polished. You realize what you should focus on and you can also offer your followers a breadth. This despite the fact that you operate within a fairly narrow segment.
The more you work with your channel and interact with your followers, the better you get at picking products and services that fit. In addition, you notice when what you present engages and leads to many questions.
Dare to try and don't be afraid of mistakes. In time, you can fine-tune your choices of products and services that will appear in your posts and videos.