7 Lessons To Grow and Monetise Your Forex Affiliate Marketing Business
Have you already embarked on your journey with a Forex affiliate programme and are now thinking about how to grow your income? Perhaps you are seeing promising results already and want to replicate this on a larger scale. Or perhaps you are still finding your feet and need advice on how to improve your success rate. Either way, this article will outline key strategies to help you transform a modest revenue source into a much bigger operation.
Just getting started with your affiliate marketing project or haven't chosen a Forex affiliate marketing programme yet? Click here to read our deep-dive guide on becoming a successful affiliate marketer first.
Transforming your Forex affiliate partnership from some income on the side into a substantial revenue stream means treating it like a business. Before you go any further, you must be prepared to give this the care, attention and time that growing a business demands. Yes, there are smart and efficient ways to do that, but the fact remains: you will have to invest time, thought and (probably) some money to see the best results.
What's more, as with any online business, one of the biggest challenges in growing an affiliate marketing venture is how to bring people to your site in the first place. This means that many of the strategies outlined in this guide talk about site traffic, SEO and content creation.
That being said, just getting footfall to your website and social media channels isn't enough on its own. You need to be able to convert those visitors into customers. That means you need to be focused on the quality of the leads you generate, rather than the quantity - and you need to demonstrate to discerning, high net worth individuals that you are someone worth listening to on this topic.
Finally, you may discover over the course of your Forex affiliate marketing efforts that it's your choice of broker or even the nature of the partnership itself, rather than your strategy, that's limiting your success. It's well worth keeping an open mind about the type of Forex referral or affiliate programme that works best for you, and the ingredients that make for a top FX affiliate programme.
A well-researched switch could give you just the boost you need. On that note, let's dive in and explore the best strategies for growing your Forex affiliate marketing business.
1. Grow Your Website Traffic
For you to earn more commission from your Forex affiliate marketing partnership, you need to refer more people to your broker. Clearly, that means bringing more people to your site in the first place. The most cost-effective way to do this is to make it easier for the right people to find your site by themselves. For that, you need to take steps that improve your chances of appearing in searches.
Take the time to analyse your website copy to figure out how well it's performing for SEO. Use free tools like Google's keyword planner to work out which words and phrases people use most commonly when looking for information on Forex and trading (or your specific niche within this) and weave them into your copy.
Bear in mind, though, that Google is moving more towards "topic targeting" rather than exact keyword matches in the way it ranks content. This means two things for you: first, it's a good idea to look at longtail keywords (longer, more specific queries that reflect what people search for) and second, really informative, in-depth, genuinely useful content will win over keyword-stuffed but superficial pieces.
Which brings us to...
2. Create Excellent Forex Content
Search engine algorithms change all the time, but the need for quality content does not. Creating well-researched, impeccably presented, evergreen articles (as in, content that will still be valuable in a year's time) is your best defence against the next Google update.
Not only are you more likely to sift to the top of the pile eventually, but great content also encourages shares, comments, re-reads and other audience behaviours that help attract new people to your content - and thus your Forex affiliate links - in the long term. What's more, as we've seen, the better and more authoritative your content, the more likely people are to trust your advice and try out the broker you recommend.
As well as making sure your content is of a high standard, think creatively about how best to deliver it. For example, could a particular guide, review or how-to piece work better as a video than as an article? Perhaps as a webinar? Could you make short teasers for Facebook and Instagram that link to a longer article or video on your site? Empathise with your audience - what format will be most useful and engaging for them?
3. Don't Put All Your Eggs in One Basket
As mentioned above, Google is prone to overhauling its algorithms with little warning. It's not the only one; many an online business was threatened overnight by Facebook's sudden pivot to a pay-to-play model. The point is, it's important to be wary of relying on any one channel to bring people to your site. Optimise your site for Google searches, post on Facebook, and invest in ads on both platforms.
But don't neglect less obvious channels. For example, Yahoo and Bing might be less popular than Google, but they do have millions of users, with far fewer companies vying for ad space. Consider posting on Medium and LinkedIn, as well as your own blog. Try out native Instagram and Twitter videos, as well as YouTube. The broader your spread, the lower the risk and the more resilient you'll be to change.
4. Own Your Audience, Don't Rent It
We mentioned above when Facebook changed the way businesses and brands interact with their followers. This is indicative of a much bigger problem: so many of the channels and platforms used to market content act as gatekeepers between you and your audience. When things are going well, this is fine. But when the line of communication is unexpectedly severed, it can have a significant impact on your business as an affiliate marketer.
The best method to prevent this from happening to you is to ensure that you own your audience's contact information. Focus on building an extensive email list and collecting as much data as you can during the signup process.
This not only gives you a direct line of contact to people you can market your Forex affiliate links to, it also means you learn more about these leads, creating a picture of who they are and what they are interested in, so that you can better segment your list and target different types of offers to different people on the list.
Getting people to hand over their email addresses is, of course, a challenge in its own right. You'll do a lot better at this if you offer something valuable in return. That could be a whitepaper, ebook, access to a webinar, a regular newsletter with Forex tips and advice, or any other gated content that people want enough to enter their details for.
Just ensure that whatever you're offering is high quality enough to make it worth it for your audience. Again, the more they trust and respect you, the more likely they are to consider your advice when you recommend a particular broker.
5. Be Smart About What You Outsource
There is only so much top-quality content one person can create. There is only so much time you alone can spend on your affiliate marketing efforts. There are only so many social media channels you can manage effectively on your own. To really grow your business, it may make sense for you to outsource certain tasks, such as writing website copy, managing social media accounts, buying ad space, analysing SEO, and so on.
Especially if you could spend that time on tasks that rely on your industry expertise, which will generate more revenue in the long run. That said, online, commission-based businesses are volatile by nature. While it is absolutely possible to make money affiliate marketing, it's a bad idea to take on too many expenses - especially those you can't scale back if things take a turn. Keep your business lean enough to weather any bad periods, so that you never risk spending more than you earn.
6. Review Your Choice of Forex Affiliate Programme
Are you doing a lot of work to secure each successful conversion, but only receiving a one-off payment as a result? If so, that payment needs to be high enough to be worth your while.
Take a good, hard look at the broker you've chosen to partner with on your Forex affiliate marketing programme. Is the commission generous enough? Are you rewarded incrementally for larger deposits or more signups? Is there an option to receive recurring revenue, through ongoing rebates for loyal customers who continue to make trades on the platform? If not, you could find that you sharply increase your income by switching to a Forex broker who offers a better deal.
A word of warning, though: it's not all about income potential. There are many factors to consider when choosing the best programme, other than whether you'll make money from affiliate marketing. These include the broker's reputation, the platform's ease of use, the range of instruments on offer, transparency and reporting - you can read about this in depth in this article.
Learn about Admiral Markets' Forex Affiliate program.
7. Try a Different Forex Affiliate Approach
Typically, when people talk about Forex affiliate programmes, they mean the kind of affiliate marketing we've covered in this article. As in, you market a Forex broker through your online channels, and when someone signs up and makes a deposit using your referral link, you earn commission as a result. That's not the only type of Forex affiliate programme on offer, however.
If, for example, you're an expert in Forex, trading or investment advice and your clients trust your advice, but you are struggling to increase traffic to your website and hate marketing. In your situation, you might find that a referral or introduction-style partnership suits you better.
In this system, you personally recommend the broker to contacts within your network and take a much more hands-on approach to getting them signed up. Depending on who you partner with, it may be possible to try out two different types of Forex affiliate programmes, using one to complement the other.
Learn more about Admiral Markets' referral program.
The Key to Making Money as a Forex Affiliate: Maintain Your Focus
When growing your Forex affiliate marketing business, it can be tempting to sign up to multiple programmes and pack your site full of affiliate links to maximise your income. While there's no harm in working with more than one affiliate programme, you do need to make sure you aren't losing your niche, diluting your expertise or confusing your audience by recommending too many similar brokers or other products in one small space.
Even more importantly, don't forget why people come to you in the first place. They are looking for valuable advice and guidance that you are singularly equipped to provide. Forex affiliate marketing gives you an excellent way to capitalise on that, but the moment you lose sight of what you offer your audience, rather than what they offer you, your business will suffer. Keep focused on the needs and interests of your niche and on offering them content that's better than anything they could find elsewhere. That's the most reliable road to growth and success.
So now you've read about the 7 key lessons you need to learn to grow your Forex Affiliate marketing business you might be wondering - what's next? Admiral Markets offers individuals such as yourself the opportunity of becoming a partner, meaning that by helping us to introduce our trading services to your connections, we will reward you every time you do so!
We offer several different partnership options, such as White Label Partnership, that offer various benefits to your day to day trading experience, as well as, excellent tools, 24/7 access to the Partner Portal, analytics and access to exclusive features designed especially for Admiral Markets partners. To learn more and to start earning an income through affiliate marketing with a global, award-winning, regulated broker, click the banner below!
About Admiral Markets
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This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.