For the majority of people, trust is an important factor in determining whether to purchase a product or service.
According to research implemented by Edelman Trust Barometer 63% of customers between the ages of 18-35 trust influencers more than brand advertisements when buying a product online. In the world of fast eCommerce growth, affiliate marketing has become an extremely popular way to make money. It allows setting mutually beneficial cooperation where affiliates get commissions by promoting products through referrals while brands benefit from the sales.
With this to say, to succeed at affiliate marketing, it’s important to pick a popular, profitable niche that can differentiate your business from the competition. Here we cover the important points to bear in mind and the most profitable niches for affiliate marketing programs.
Conduct a Competitive Research on Affiliate Marketing
Competition can be especially fierce in some affiliate marketing niches. If you’re interested in a niche with high search volume and low competition, you’ll have to work particularly hard to keep up.
But if you want to target a popular industry, look for well-known influencers and find ways to market your products that haven’t been tried before.
Define Your Areas of Interest
Affiliate marketing can be a lucrative business if you manage it well. Start by familiarizing yourself with affiliate marketing subject products in the industry.
Take time to research the chosen industry and consider the time you are going to spend or trial errors, which is a must for any process of learning.
Concentrate on the affiliate marketing industry that will allow to learn fast and build specific expertise.
Consider the Profitability
One of the main ideas behind affiliate marketing is to make money with a minimum or no budget. Think about revenue generation routes when choosing the industry.
For different businesses, affiliate marketing programs come with various commission models to which you should pay detailed attention.
Try to dive into brands or products with higher potential and therefore – higher commission percentages to generate more significant profit.
Define Your Unique Selling Proposition (USP)
As already stated, the main factor that drives affiliate marketing programs is trust.
There are most likely going to be competitor affiliates that might promote the same brand. To compete here you need to have a carefully defined and unique selling proposition. That is, you need to clearly communicate how and why your solution is best for your customers.
Every piece of unique content is a key to attraction to your website where you explain why customers need to use referrals rather than the ones offered by other affiliates.
Top 7 Industries For Affiliate Marketing
To give you a specific understanding of popular affiliate marketing industries, we have collected a top list of 7 variations that may be considered by both newbies and affiliates with certain expertise.
Among the top industries for affiliate marketing that we have defined are:
- Food and Hospitality
- Wellness and Health
- Fashion Industry
- Beauty Products
- Education
- Finance
- iGaming.
Food and Hospitality
Forever trending industry. Even though there are many successful already established food blogs, this industry is a great point for affiliates who are just getting started.
To avoid an intense competition you need to know that there are vegan and organic food sub-categories that are becoming more prevalent in the past 3 years.
Researches show great traffic potential and large monthly search volumes.
Wellness and Health
As per Global Wellness Institute Research the global health and wellness market value is forecast to reach $7 trillion by 2025, making it a profitable affiliate marketing niche.
To prevent diseases and build better wellness habits people are looking for a lot of information on health awareness. Search engines record high volumes of tips and reviews of various vitamin supplements and other products.
Fashion Industry
Trends! Rapidly changing demand for fashion products is a key point that makes fashion one of the top affiliate marketing industries.
Anything from vintage items to luxury dresses can find a place on your eCommerce website in addition to a mainstream that people search for on the internet on a daily basis.
Also, trends make it way easier to define your content plan and target specific markets.
Commissions come from 10% to 50% per action or sales respectfully.
It is noteworthy to have a good sense of style and create a carefully targeted platform to succeed.
Beauty Products
One of the most rewarding affiliate marketing-related industries and another to-begin-with point for affiliate marketers. There are a lot of affiliates that promote cosmetic products online and because of this customers make a lot more comparisons and research before buying the product. They watch influencers to see if the product really works the way it claims.
There are a lot of topics to cover such as skin and hair care, tutorials, tests, etc.
Another advantage is that depending on the product category you can directly target groups and ages to increase potential clicks.
Education
As one of the pandemic circumstances, eLearning has become a top-notch affiliate marketing industry. With such a great demand for online courses, affiliate marketing for online coaches and online universities has also become a common niche.
A pro is that an affiliate does not have to have an educational background. You can promote online or virtual education websites, popular tutors or coaches, stationary, books, events like workshops and many more.
Finance
In the past few years more people have gotten involved with cryptocurrency and stock market trading. There are a number of cross-platform options to manage online money and a specific skill set is required to be involved in financial affiliate marketing programs.
You can serve as a trustful and eligible information source for people who are planning their future capital and share information on tools for finance management, crypto tips, guides and more.
iGaming
iGaming affiliates follow the concept of affiliate marketing and work with online gaming and gambling businesses. Basically, affiliates connect gamblers with online gaming websites that meet their needs in various forms.
There are three main commission payment models that work in this certain collaboration; Cost Per Acquisition (CPA), RevShare and a mixed model which is simply a combination of those two.
You can partner with casinos directly, however, affiliate marketing programs give more opportunities and support. In addition, if you are new in the market the dedicated affiliate manager will be there to answer all your questions and lead you.
Things to pay attention while involving in an iGaming affiliate program are legislation, regions and traffic types that the program accepts. Due to the very high return on investment the CPA model claims to show $50-100 per acquisition, which is quite a nice figure in the end.
In Conclusion
If you are or just planning to become an affiliate marketing community expert, be aware of the latest industry updates and developments make sure to subscribe to our blog and receive information right into your inbox.
To make a successful affiliate business you need to learn how to speak the same language as the consumers of your chosen product and have a strong sense of hard work, consistency and experience exposure.
