If you’re thinking of ways to make money by investing zero cash, affiliate marketing might be the solution for you. It’s a passive income that only needs your time and effort then after, you can relax and earn money online passively.
Big names like John Crestani, an internet marketer who’s helped companies reach more people and make more revenue, have earned a lot of cash through affiliate marketing. Statistics say that it’s among the most popular methods of making an income online. By 2022, affiliate marketing is estimated to increase to $8.2 billion from $5.4 billion in 2017.
If you’re thinking of an incredible side hustle, then affiliate marketing could be right for you. Continue reading to learn more about how it works, its benefits, and how to make money from it.
What’s Affiliate Marketing?
It’s the process by which marketers make money, by promoting another company’s/person’s products and services. The affiliate looks for a product then promotes it and earns a commission from the sale of that product. Sales are tracked using affiliate links from different websites. This marketing involves;
- Affiliates who promote the product
- Products creators- who develop the product
- Networks- platforms managing the affiliates
- Consumers-product users
How Does Affiliate Marketing Work
Merchants give affiliates unique links to track the person responsible for a sale. When a consumer clicks that link, a file called a cookie, is stored on their device. This file helps merchants know the person who made the sale. It also has an expiration date meaning that even if the buyer delays their purchase, you still get paid. Some common affiliate marketing models include;
- Pay-Per-Click (PPC)- the marketer is paid for all the clicks generated even if a lead or sale didn’t happen. However, because the product creator faces all the risks, PPC is usually rare.
- Pay-Per-Lead (PPL)- you get paid for every lead you generate. It could be from trial creation, pre-purchase, or online form submission. PPL is a risk to both merchants and affiliates.
- Pay-Per-Sale (PPS)- affiliates are paid for every sale they generate. PPS is mostly preferred as the affiliate faces all the risks.
How Much Money Can You Make as an Affiliate?
Well, affiliate marketing can help you make money fast. However, how much money you make online depends. The type of product affects your earnings. For instance, the commission you’ll probably get on physical products is 10% Amazon’s top rate, meaning that if you’re not focusing on a well-known niche, you’ll have to make many sales to earn a significant income.
Some companies like SAAS offer lucrative marketing schemes where marketers get 40-60% per sale. But, these are often recurring payments when one sells a subscription. If you want to succeed in affiliate marketing, you should be very determined, diligent, and enduring. Also, you must know about SEO and web design.
Most people often get confused about how to make money from home through affiliate marketing. While it seems straightforward, there are some moving parts individuals should monitor. Here’s how to earn money through affiliate marketing.
1. Choose a niche and platform
Influence is important in affiliate marketing. One way to establish influence is by having a website or blog that specializes in a particular niche like finance, personal health, business, etc.
2. Build your audience
Having people who read and engage with your content will help boost your affiliate income. To build an audience, one should establish their target audience, and then use targeted emails and content to grow their loyal audience.
3. Find an affiliate program
An affiliate program like Amazon Associates will help you get started with affiliate marketing. You can also register on Clickbank University to train as an affiliate marketer. Once you signed up on a program, you’re given an affiliate link containing your ID that you can use in your content.
4. Choose the products to promote
Experts advise that you only recommend products that you’re familiar with. It’s also wise that you don’t tell consumers to buy it directly but rather recommend it based on your experience with it. Consider your audience, quality and value, and profitability when choosing the products to promote.
5. Create useful content that promotes your affiliate product
Genuine and remarkable content is important in affiliate marketing. Write a post about your favorite products or you can create a comparison article focusing on the advantages of similar products. Additionally, you can interview others to get different opinions about a product. No matter the content you create, ensure that it features honest reviews, and mentions your affiliate product.
6. Track your affiliate content
Tracking will help you determine how your affiliate content has performed and what you can promote or improve. You should know which content resonates well with your audience to help you decide what you should focus on in future affiliate marketing.
7. Get your payout
How you get paid depends on your affiliate program terms. Commission payouts can be monthly or weekly for all leads/sales you make. That’s why you should determine the payment system and ensure that you’re comfortable with it before choosing an affiliate program.
When it comes to making money online, one of the best ways is through affiliate marketing. Affiliate marketing takes certain skills though to become successful. Most people who know how to do affiliate marketing are ones who have some skill with websites. They are the type of people who are website builders and often even coders. When it comes to this line of work, you will have to be Internet literate as well. Other than that, people looking to do affiliate marketing can look into several resources to help them to become successful.
Amazon Affiliate Marketing
Amazon is a treasure trove when it comes to pushing product. This is because they are a place that many entrepreneurs congregate. These people are looking to move their product. There is no better selling hub online, arguably than Amazon. To get into Amazon affiliate marketing, you will need connections to these entrepreneurs. Better yet, you can go online to Amazon and look for people that are sellers. You might want to target people that are only marginally successful. They will be looking to spend money to get the word out on their products and services. They are willing to pay for direct links to their specific product because they need it to sell. You can work out a deal where you get paid per clicks on the link from your site, or if you will just get paid if it leads to a sale. Either way, it is a great way to start forging connections in the online business world.
Clickbank is still one of the best places to use your online skills. They will actually hook you up with people that need affiliate marketing. You get e-mails that will tell you about the business. Clickbank has a good reputation so they tend to only promote businesses that are ethical. If you get into this system, you will have to pay a fee. However, the fee is absolutely worth it because people will get results. You will have more than enough clients from this system. All you need to do is get busy with building websites and writing blog content. The only downside to this is that if you are not a good writer, you might need to pay for the content. This type of opportunity is geared to people that are well connected online. They will either have a place to go to for good content, or they will just be good writers. Clickbank is still though mainly great for coders as it can be difficult to make the websites. There are a lot of writers out there right now that are willing to work for inexpensive rates. You can capitalize on this competitive market. When you’re ready to sign up, you can even go to Clickbank University. They will literally give people more training on what to do with the opportunity that is presented. Clickbank has a solid reputation and is the place to go to get your links.
How to Make Money with Affiliate Marketing Without a Website
If you have not related to the content above, there is a way that you can still make money without making websites. Affiliate marketing is also all about good writing. You can pitch yourself there to potential clients. It is probably easier to sign up with a content website like Upwork where you will find many, many people that are willing to hire on talent for their affiliate marketing ventures. They may not even advertise themselves as affiliate marketing pioneers. They may just say that they are looking for a good blog writer. If you are asked to include any links, then it is for affiliate marketing purposes. One thing to note about being on the content side is that you might not make as much of a profit to start. It can be a slow business where you will have to establish yourself as a writer in order to get there. Additionally, you should encourage your client to disclose always if you are doing a sponsored post. This is different than just affiliate marketing because it is more like an advertisement. You ethically and even legally are required to disclose if you are writing sponsored content as opposed to just blogging. A sponsored post will also be a lot more money, so make sure you get paid better. You probably are not even aware of what the editor or website owner is making, but it is a lot. If you just want to get the experience, you don’t have to ask for a huge cut. You should though ask for a reference when it is done. This is a proficient way to build up your portfolio and get other affiliate marketers interested in you
The Easiest Way to Make Money with Affiliate Marketing
There are definitely easier ways to make money with affiliate marketing than others. However, you will only know what is easier for you based on your skillset. You will want to assess where you are at with your talents and abilities. It is only through this that you will be able to locate the niche in affiliate marketing that suits you. You might even want to become a link broker where you sell the links to website designers. The sky is the limit with this type of opportunity if you are good at what you do.
How Fast Can You Make Money with Affiliate Marketing?
There really isn’t an answer to this. You can either make the money upfront, or you will make it based on how much the consumers are buying. It is up to you to decide what is best here. This is one of the affiliate marketing companies’
pros and cons of affiliate marketing. The pro is that you could make a lot of money if you get a commission, however, the con is that you might make nothing at all. If you go with a company that is reputable or work with reputable people, the risks are diminished.
Affiliate marketing is one of the best ways to make money online. While it has some disadvantages, its perks are more significant. Apart from broadening your audience, it helps you build trust while avoiding the burden of huge investment. If you want to gain control of your income by exploring performance-based revenue options, affiliate marketing could suit you well.