Within no time, you have won a couple of grand without any significant investment. A fantastic idea, isn’t it? However, you also know that this scenario is improbable.
Launching an affiliate campaign is quite similar to this situation. Even though some of the platforms give you incredible deals and the benefit of free advertising, you cannot become a successful marketer until you make a substantial investment. In the article, we will tell you the budget required to set up your own affiliate business.
1. “Free-Money” and Low-Budget Campaigns Are Not an Option
Before we share with you the expenses that an affiliate has to cover, we will also explain why low-budget campaigns and “free money” are not great choices.
2. List of Expenses All Affiliates Need to Cover
Mostly, you need a budget of around $500 to begin your innings as an affiliate. However, some of the tools require a monthly investment, which means you have to invest a section of gross earnings every month.
You can break the investment under the following heads:
Traffic
To run your campaigns, all affiliate marketers have to purchase traffic. The price and platform you select decides the quality of traffic you receive. Mostly, $300 is sufficient to run some tests and garner a decent profit.
The first campaign you start with should be targeted to Tier-3 customers. Also, you have to pick up an offer that has a simple conversion flow (i.e., does not need any deposits or CC submits)
Tracking Tools
Specific platforms like Propeller Ads help you in using a built-in tracker and tracking the performance of the ads. However, if you want to get more flexibility, you can get an independent tracker that is priced at around $100 per month.
Hosting
You will have to find a trustworthy hosting provider that is perfect for your landing pages as well as the tracker. There will be many options in this category, and the price range varies.
Some popular services in this segment are:
Apart from that, if you have a self-hosted tracker, you should get the option to upload the landing pages on the same platform. This will improve the tracker’s accuracy and get you more conversions as the number of redirects is less.
Spy Tools
Spy Tools can help you find your competitors that are doing well, so you know what kind of ad you should design.
The spy tools start from $40 and include features like search page analysis and keyword research. There are also some free options, but they will have limited functionality, thus reducing your chances of success.
Landing Page Builder
Before you buy a landing page builder, find out if your CPA network offers ready landing pages. In case the answer is no, you will have to spend around $20 and get a decent builder; however, see that it can also allow you to download the landing pages.
Translators
If you want to cater to a profitable market, you should not limit yourself to one language. You can find translator services on Fiverr, Upwork, and other freelancing platforms, and they will cost only around $5 per project. Some other services you can check are:
- One hour translation
- Gengo
- Pro translate
Images and Creatives
Free stock images are widely used these days, but users get to know if they are stock images. Some paid platforms offer better pictures, and they cost around $29 per month. The most popular platforms are Shutterstock and Raw Pixel.
3. Tips to Keep Healthy Finances
Though having the proper budget is essential, you must design a plan that helps you in reducing the expenses. Here are some tips you can use to keep healthy finances.
Save on Hosting
Suppose you can spend some time and learn how hosting works; you can save some money here. Along with you can understand your campaign’s technical side.
Find a Network with Short Hold Periods
All CPA networks have a holding period post which only you can withdraw your earnings. As a beginner, you should find a network that has a short holding period. Net7 has a holding period of only seven days. If not. You will have to wait after this is over to launch the campaign, which can disturb your rhythm of work.
Planning Ahead is the Name of the Game
Planning in advance is vital to improve the chances of succeeding. You must estimate your daily budget, keep the holding period in mind, and then decide on the best tool selection to ensure smooth sailing.
Final Thoughts
We have shared the details of all the expenses you will have to cater to. Now start and put all these pieces together.
The above tips would help you choose the perfect tools and also figure out the cost that is needed to make a strong foray as an affiliate marketer.
