How to Become a Great Forex Affiliate Marketer

Source: ADMIRAL MARKETS 2020-06-04

While affiliate marketing is often billed as a passive income generator, you will see far better results by putting in a little extra work to bring your referral links to the attention of your audience. Here's a tried-and-tested, 10-step strategy to help you get the most out of your Forex affiliate programs.

Step 1: Set Yourself Up as an Authority

Note: if you've already built up a great site with a well-engaged audience, jump to Step 3.

The difference between affiliate marketing and simply hosting ads on your website is that, as an affiliate marketer, you're advocating for the product. You personally are telling your audience that this Forex broker is worth their time.

That means your audience needs to have a reason to trust your opinion on the matter. You need to demonstrate your understanding of Forex trading or investment finance generally, providing advice and analysis and emphasise your credentials. It helps to establish a clear, helpful and decisive voice.

Step 2: Build a Presence as a Forex Authority

Without a decent following, you'll struggle to refer anyone to the Forex broker. Not only does this mean you won't be a particularly attractive partner for brokers, you also won't be able to make much money as a Forex affiliate.

Again, a lot of this comes down to the quality of the content you produce. You also need to post content regularly enough to keep people engaged with your site and with your social media profiles, not to mention to boost your rankings in search engines like Google.

Think carefully about the topics people want to hear about and focus on the problems they want resolved. Pay close attention to your SEO to encourage inbound traffic to your site or blog, and plug your articles extensively through social media channels.

If you're a whizz with SEO, it's also possible to build a site purely around reviewing products in your niche, which we'll explore in the next section.

Step 3: Write Reviews about Trading Products and Platforms

Before you seek out a Forex affiliate program, it makes sense to start writing reviews of Forex or trading-related products and platforms on your site.

This is an effective tactic for three reasons:

Your readers get used to seeing reviews on your site, so it won't seem out of place when you promote or align yourself with a particular broker.

It's a great way to incorporate keywords and common search terms into your copy without it feeling unnatural or jarring. People often search for comparisons or "which is better?" questions, so writing reviews that compare different Forex trading platforms or brokers is an excellent way to attract new readers.

You target readers are actively looking to try out Forex trading, which makes it a far easier job to persuade them to opt for the broker you're partnering with.

Step 4: Start Collecting Email Addresses

Building an email list is a smart way to ensure you have a direct line of communication to your audience when you want to promote something in particular. Basically, you're laying the groundwork now for your Forex affiliate marketing efforts later. Consider embedding a pop-up subscription form to your site. Even better, create gated content, i.e. top quality content that is free, but for which people need to enter their contact details before they can download it.

Even if you only get a few hundred email addresses, these are extremely valuable. Conversion rates are vastly better for personalized emails than for website copy. If you're smart about how you approach these people, they could be your most profitable prospects. Please familiarise yourself with General Data Protection Regulation (GDPR) requirements as well, because those also apply to email marketing in Europe.

Step 5: Sign Up to a Forex Affiliate Program

You're now ready to take the leap and choose the right Forex affiliate program for you - both in terms of the broker and the commission structure that will work best for your circumstances. Given that this is a very important task in its own right - please take a look at our in-depth guide to choosing the right Forex affiliate program.

Step 6: Embed the Forex Affiliate Link on Your Site

You now have everything you need to start generating commissions as a Forex affiliate marketer. Your broker will have given you a unique referral link (and, if they're worth working with, a complete package of marketing materials, banners, widgets and so on). You just need to figure out where on your site to put it.

Be smart about this. It makes sense to add the link to reviews and any other articles that mention the broker by name. You could also decide to write a dedicated article specifically promoting the trading platform, to create a demo or review video with an accompanying link, organise a webinar talking through how the site works and/or add a button or header to your whole site. The trick is to increase exposure without overdoing it. You don't want to look too pushy.

Step 7: Promote the Link to Your Audience

It's possible to leave things there and wait for people to click, but if you really want to make money out of affiliate marketing, it's advisable to go the extra mile. This is the time to let your email list know about the broker you're affiliated with. Craft a clear and engaging email outlining the benefits of the Forex broker and why you think it would be a good choice for your readers.

Remember too that financial tools like these are (rightly) heavily regulated. Your broker should provide you with plenty of email templates and sample wording to ensure that the information you share with your audience is accurate, transparent and compliant with industry rules

Step 8: Promote the Link to a Wider Network Using PPC Advertising

If you're looking to widen your net of referrals, consider budgeting for a pay-per-click advertising campaign using your referral code. Online advertising networks provided by Google, Facebook and other publishing giants tend to give you a lot of control over exactly who you want your ads to reach, while giving you plenty of flexibility to try out different ads at very low cost. A small investment could go a long way.

Step 9: Collect Your Affiliate Commissions

Now you've done all you can to promote the links, all you need to do is sit back and wait for your share of the money to come in. Hopefully (if you've taken our advice on board!) the broker you work with will have an intuitive, easy-to-navigate partner platform where you can track how many referrals you bring in, how much they deposit and trade, and how much you're earning in commissions, all the way through the process.

Step 10: Review and Improve

If you're serious about generating income from Forex affiliate programs, there is one more step:

Again, if you're working with a top Forex affiliate program, you'll have access to a platform that helps you monitor performance and track ROI. Use this to figure out what's working well and what could be improved, from the channels you used to promote your referral links through to the kinds of people you targeted in your advertising and marketing campaigns.

Once you have a clear picture of this, you can use your findings to hone your approach, try new angles, cut out the methods that didn't work, and keep improving your ROI.

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How to Become a Great Forex Affiliate Marketer

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