The effects of COVID19 on the world market cannot be overlooked. The pandemic has changed consumer behavior dramatically and we all have to adapt to new and unknown situations. Things have changed and people use different apps and channels to communicate and to be entertained while in isolation.
Affiliate marketers are now looking for new ways and business strategies to keep up their revenue. Creative thinking can help them to drive their business forward.
Choosing profitable niches
Traffic and conversions are down during this pandemic in many verticals, but there are also good chances to make money. The affiliate marketing industry needs to rethink how to adjust offers and campaigns according to the needs in the current situation.
The good news, internet usage has increased by 50% and people are shifting their usage from mobile back to the desktop and spending more time online. Now is the time to search for profitable niches, as many subscription services, TV and film streaming products, gaming, online casino, educational and insurance services have seen significant increases in conversion rates and revenue.
Staying up to date
First of all, be informed and stay in touch with the rest of the world. Always keep your ads up to date with current and upcoming trends.
Affiliates need to stay tuned with news on the latest restrictions and on decisions taken by governments on sporting and entertainment events. Now, more than ever before, you have to carefully target the right countries and run the right ads.
Try to be flexible, react fast and build a new strategy in lockdown. However, also keep in mind that using the word “coronavirus” or “COVID” as part of your offer is forbidden in most traffic channels.
In eCommerce, be sure to exclude the products from your campaigns that are out of stock and check your budgets or pause campaigns for non-essential goods.
Taking the chance
Nevertheless, the lockdown can be taken as a great opportunity for people to spend their time on learning something new.
Educate yourself and find new subjects you always wanted to start test and expand into. Or maybe try running your own training or classes online, or push home business opportunities.
Also keep in mind, that niches and verticals that are currently on “pause” will become hyped again after the lockdown. Preparing and knowing the timelines for the re-opening of certain verticals allow you to stay ahead of the curve when these areas return.
Many new groups emerged on Facebook and on other Social Media channels. Join them, get in touch with interesting people you can learn from and share your experiences and knowledge with other professionals of the industry.
Staying connected is one major point to go through this crisis.
Sureyield wishes you and your families good health and strength during these challenging times. Stay safe!
Our dedicated team works remotely from all over the world every day and is there to help you.