If you own an affiliate marketing website, this blog will be a game-changer.
Right now, stocks are tanking, businesses are going bankrupt and people are stuck in quarantine, bored out of their minds.
- How will the coronavirus impact your affiliate marketing website?
- Will your website tank?
- Are sales going to drop?
- Will your affiliate marketing site survive the economic impact of Corona?
In this article, you’ll discover:
- The impact Corona will have on your affiliate marketing business
- Why you shouldn’t panic
- Actionable tips to protect your site during these strange times.
Make sure you read to the end because I’ll cover some of the best ways to keep growing your site whilst the coronavirus hits.
Impacts Of Coronavirus On Your Affiliate Marketing Business
Impact 1: Less Spending
The biggest issue is, there’s a recession right now.
So less money is being spent.
If people are stuck in quarantine, there’s less money flowing through the economy.
So it’s taking a big toll on the economy.
Plus this creates a huge ripple effect:
Which means that less money is being spent in general and your affiliate sales could take a big hit.
Impact 2: Online Shopping Is Booming
Online shopping is crushing offline retailers because people are stuck at home.
You can see that the demand for online shopping and Amazon is going to explode.
Since Corona, Amazon’s share prices have boomed:
So, people are stocking up on more household/medical supplies etc.
If you’re an Amazon affiliate with a 24-hour cookie on your website, then you could see a huge spike in sales.
Useful Resource: 5 Easy Tips To Rapidly Improve Your Keyword Research (FAST!)
Impact 3: Changes In Amazon
This brings me to #3:, which may have the biggest impact on your affiliate marketing websites.
Amazon has made big changes this year.
They’re stocking fewer products, with fewer suppliers open and some suppliers are going out of business completely.
But here’s the most important thing:
Consumers who can’t shop offline, are moving their spending towards online platforms like Amazon.
That’s an opportunity for you as an affiliate marketer to pump out more content around reviews and products on Amazon.
Impact 4: Bargain Hunting
Now’s the time to go bargain hunting.
There’s less money flowing, companies are cutting their budgets and there’s less demand for hiring freelancers.
So, if you hire freelancers and virtual assistants for your website, then you could save a lot of money simply because there’s less demand.
And that means cheaper content to pump out for SEO as well.
Because when you’re hiring writers, there’s going to be:
- More supply than demand
- This drops the price
- And that means cheaper content for you to scale up on your website
If you have money to invest, now’s the time to do it.
You’re going to get much more value for your money.
Impact 5: Cut Down Expenses
When you have a website, the expenses can build up quickly.
Now’s the time to cut down on any unnecessary expenses that you no longer need.
Especially when this could save you hundreds/thousands of dollars every month.
So, ask yourself:
- What do I need to get rid of?
- What’s unnecessary?
- Which tools do I no longer use – or no longer use as effectively as I probably could?
Because when you have a website, it’s easy to install loads of tools and plugins to increase your website’s traffic and results.
But at the same time, you probably don’t use most of them right now.
So this will save you money in the long run.
Impact 6: Productivity And Quality
Make sure your team is working productively.
This is a challenging time for everyone.
If you’ve got a team of freelancers right now, make sure they’re kept busy.
Now’s a really good time to work on your processes too.
Personally, I use Trello for managing my team and time-tracking software to see their hours.
The other challenge is, they’re probably going to get a little bit demotivated.
Right now it’s a stressful time for everyone.
So, it’s important to make sure your team are interested and motivated in the work they’re doing.
Impact 7: Expect A Surge In Freelancers
The number of remote workers is going to skyrocket.
For example, India’s economy contracted recently.
Sadly, unemployment is going to rise because companies can’t afford them.
That means loads of people will search for a new way to make money.
And where will they turn?
The internet of course.
So platforms like Fiverr and Upwork may see a huge increase in the number of people working online.
Many of these freelancers won’t be very skilled in the work they offer.
So for newbie freelancers, expect to invest a lot of time into training.
But there’s going to be a huge spike in supply VS demand, which means the prices of freelances may drop even more.
Impact 8: Opportunity To Grow
Corona is an opportunity to grow your site and work on the tasks you’ve never had the time for.
So, if you’re stuck in quarantine right now, you’ve got a lot of time at home.
Maybe you could use this time to focus and be really productive.
You may even come out of this period even stronger.
So, for example, you could:
- Optimize your content
- Build better processes for your team
- Invest in other ways to drive traffic to your site – like link building
If you have time on your hands, it’s a good opportunity to be proactive.
Impact 9: Uncertainty in Market
Undeniably we’re in a period of uncertainty.
And that means there’s going to be lower demand for buying and investing in websites.
That’s an opportunity for you as an affiliate marketer if you have money to spend.
Website prices will drop because of less cashflow, meaning you can find opportunities in the market.
The multiples for selling a site will be lower and more people will be looking to sell because they need the cash flow.
So if you have money to invest, now’s your opportunity.
Impact 10: It Isn’t All Bad
Sure, the economy is going into a recession now.
But it’s a short term issue.
In 2008’s recession, there wasn’t any sign of how long the recession would last.
It’s still having an impact today and some people never truly recovered.
But with Corona, this is just a matter of time before things get better.
So, if you can hold up now, improve your business, and operate at a higher level, then you’re going to come out of this stronger than ever.
And that’s something to be optimistic about.
Coronavirus isn’t that bad for affiliate marketing:
You may take a hit short term, but in the long term things could improve, and this is an opportunity to grow your business.