When you become a Forex affiliate, it’s a bit like planting a seed. You do the groundwork, get everything set up, then sit back and wait for it to grow. But, of course, a seed won’t just magically grow on its own. You need to water it, nurture it and create the best conditions for it to flourish. And it’s a similar process when it comes to growing your affiliate earnings.
Below are some hints to help you turn the seed of an affiliate program into a healthy referral business.
Know your competition
One reason some affiliates don’t reach the level they expect is the competitiveness of the industry. Quite simply, there are a lot of affiliate programs to choose from, and each one of them is full of affiliates actively seeking prospects to refer to their chosen partner broker. So when you become an affiliate, the question is how you’re going to differentiate yourself from your competitors.
To put it another way: if you’re offering exactly the same thing as someone else, why would someone choose to go with you?
That’s why it’s crucial to identify key areas where you and your partner broker offer a competitive advantage, then drive that messaging home to an audience that’s as targeted as possible. For example, if you know that the majority of your audience is new to trading, start tailoring your advertising to focus on things that appeal to those people – like trading education or demo trading. If your audience comes from a specific region, promote the benefits of local or multi-lingual support. If your audience is tech-savvy, focus on the advantages that advanced trading technology can give. Any way you can segment your audience will be useful for targeting your message, differentiating from your competitors and growing your referrals.
Aim for consistency
There’s no denying that affiliate earnings can go up and down, and one big month of referrals is no guarantee the next one will be the same. The good news is that there are things you can do to help manage this and keep your affiliate income consistent – and preferably growing!
A lot of this starts with setting realistic goals and planning how you’re going to meet them. For example, if you aim for a hundred referrals a month with no strategy in place to actually achieve that number, it’s almost certain you won’t meet your expectations.
If you’re just starting out, it might be better to target something modest, even as low as one referral per week. A low target like that would give you the ability to concentrate your efforts on getting that one conversion through, and it would still see you earn profit while also reinforcing the consistency and discipline that successful affiliates need. If you can prove to yourself that you can regularly bring in referrals at any level, you’ll get used to it. And from there it’s a matter of slowly scaling up your targets. Just remember that whatever your goals are, it’s important they’re appropriate to you.
Affiliate marketing is a numbers game and one of the simplest equations is that more traffic equals more referrals. But to actually get that traffic you’re going to need to up your SEO game.
Unfortunately a good search ranking isn’t a simple case of spending a few dollars on AdWords (although that will definitely help!). It’s about a addressing a wide suite of interrelated factors to create a funnel that directs people to the content that will help drive conversions.
Some things – like AdWords – are straightforward to implement at any point, whatever your setup, but other things take a bit more effort and the results likely won’t be seen immediately. For example, if you’ve got serious ambitions about turning affiliate marketing into a significant source of income, you might need to consider a wholesale restructure of your website to better place display ads, add in blog content and promote your referral advertising to the maximum amount of people.
From targeting keywords to having a relevant domain name and hosting solution through to building links, posting sponsored content and A/B testing, there are so many ways to start to improving your SEO, and how you choose to do it is up to you. But the bottom line remains that if you want to make money as an affiliate, make sure your organic traffic is flowing well.
As well as making critical improvements to your SEO, there’s a lot of potential to be gained as an affiliate by targeting channels that go outside of more blanket marketing methods and direct to potential clients.
Despite all the developments in the way we consume online content, email marketing remains an extremely powerful sales tool so it’s worth seeing if you can find a way to build a database or tap into an existing one, either through guest posts, sponsored content or gold old fashioned advertising.
Social media has become a lucrative channel for some affiliates, however unless you already have a substantial following to direct towards your referral program, you’ll need to put in some solid groundwork before you reap the rewards of being an influencer.
If you’ve got a background in, and deep understanding of, trading, you might even want to consider doing more personal ‘events’ such as hosting webinars where you can share your insights. One of the key benefits of more personalised promotion like this is that you’re able to form deeper connections with potential clients that have the potential to create not just conversions, but advocates.
These are just some of the ways to grow your affiliate earnings, but there are many more methods that successful affiliates use to target their own audience and follow their individual goals and strategies. Check out our educational hub to more about it!
Learn more about becoming an Axi Affiliate at www.axiaffiliates.com, or contact us at email@example.com.
If you are looking to trade financial assets as CFDs you will need to understand the difference between the cash and futures market.