One of the best ways to get rich quick by making money online is Affiliate Marketing. Not only is affiliate marketing one of the most profitable online money making opportunities, it is also a perfectly legitimate way of earning an income, and respectable too.
Some of the highest paid professionals in the world are affiliate marketers. Six-figure incomes are very common among the world’s top affiliate marketers; even seven-figure incomes are not unheard of. Let’s talk a bit more about Affiliate Marketing and about its awesome opportunities, starting with the basics.
What is Affiliate Marketing?
Wikipedia defines affiliate marketing as, “Affiliate marketing is a marketing practice in which a business rewards one or more affiliates for each visitor or customer brought about by the affiliate’s marketing efforts”
So this is how it works – as a publisher of content, you will be rewarded for helping other businesses promote their products or services. If you sign up for Amazon Affiliates, for example, and promote Amazon products, you will earn a commission every time a visitor that you send from your website to Amazon, makes a purchase on Amazon.
Affiliate marketing is the quickest and the cheapest ways to make money online as you don’t have to create any of the products yourself. All you need to do is to link up a buyer to a seller and earn a commission on every sale that has been facilitated through your blog or website.
So, How Does Affiliate Marketing Work?
Affiliate marketing is quite simple. First, you need to join an affiliate program and choose the products that you would like to sell. You will then be provided with a unique affiliate code by the seller of the product, which you should then use with your content to refer traffic to the seller’s site.
Most affiliate links are in the form of text links, display ads and banners. All you need to do is to copy the code that is given to you and place it somewhere on your website. That confirms you as an affiliate. When your readers click on these links, they are redirected to the seller’s site. Once they purchase a product on the seller’s site or subscribe to a service, you will be sent a commission by the seller as the referrer of the product or service.
The seller can track your performance using your affiliate ID. You will have a readymade access in real time to all of your sales and commission statistics. But this is not the only way to earn a commission as an affiliate marketer. You can make money in the following ways in affiliate marketing.
Pay Per Sale – Here, the merchant pays you a small percentage of the sales price on the completion of the purchase.
Pay Per Click – Here, you will get paid depending on the number of visitors that you are able to redirect to the seller’s website from your blog, whether or not a sale is completed.
Pay Per Lead – Here, you will get paid when the visitors referred by you fill out a contact form and provide their contact information on the seller’s site.
Why It Makes Sense to be an Affiliate Marketer…
Affiliate marketing is one of the best ways to earn an income online and I will tell you why.
#1: It doesn’t cost you much to get started as an affiliate marketer. You don’t have to worry about the cost of the products as you are not involved in its production. The product has already been created and the service is already available. You don’t have to worry about hiring employees and you don’t need a physical business location. You don’t have to hold any inventory either. All you need to do is to sell the product or service. As simple as that. Your only costs will be the cost of the web hosting, domain name and website development – which usually don’t amount to much.
#2: As an affiliate marketer, you will have access to a global market. You will be able to reach out to a worldwide audience and are not restricted by geography. You can operate from your home in Cape Town, South Africa and make tens of thousands of dollars through sales in the USA and Europe.
#3: It doesn’t cost anything to join an affiliate program. Not all affiliate programs are easy to join, but you can be sure that none of them ask you a fee for the privilege of joining their network.
#4: You don’t have to ship or deliver any product. These things are taken care of by the seller. You don’t have to hold any product either. The seller takes care of the shipping and the storage. You will have nothing to do with it, but will earn money on the sale of the product.
#5: You are not required to deliver any customer support or after sales service either. You don’t have to deal with customer complaints. It’s the seller’s job to handle these things.
#6: You will earn a consistent passive income for as long as you like as an affiliate marketer, depending on your blogging and marketing skills. You will earn money even when you are off on a vacation to the Bahamas or celebrating Christmas with your family.
#7: You will be able to work from home and are freed from the drudgery of a 9 to 5 schedule. You don’t have to worry about the traffic anymore. You can watch your kids grow up, spend more time with them and help them with their homework. You can have a more relaxed lifestyle without the pressure of everyday work.
Can You Make Money from Affiliate Marketing?
Oh yes, you can certainly make money from affiliate marketing. But here’s the thing – success as an affiliate marketer has to be earned. It won’t come easily to you. To make money from affiliate marketing, you will need to follow the best practices and be consistent.
Affiliate marketing, as we discussed, is a perfect work from home business. You won’t have to stock, product or ship any products and you don’t have t deliver a service. You will be paid for your marketing skills and your ability to offer a compelling reason for people to buy a particular product or service.
However, there are certain realities associated with affiliate marketing that you must be aware of, before jumping into it. Affiliate marketing will help you get rich quickly, but not without making a serious effort.
Yes, there are people who make a six-figure income from affiliate marketing, but they have worked to get to this point. Not even one successful affiliate marketer has made money without working hard for it.
In a way, affiliate marketing is not any different from other work from home jobs such as blogging. While it is true that there are some affiliate marketers who are incredibly rich, and many who are earning a very good income too, a large number of affiliate marketers don’t make enough to depend entirely on affiliate marketing itself. So, if you want to become an affiliate marketer and make it your full-time job, you better start taking it very seriously.
So How Much Money Can You Really Make From Affiliate Marketing?
This is a tough question to answer. Here’s what you should know. There are 5 types of affiliate marketers depending on their experience level. Let’s see how much money they make. Remember, we are talking about profits here, which is different from revenue.
Affiliate Apprentice – Loses money or makes no money as their websites or blogs are yet to make an impression. This will change as time goes by.
Low Level Affiliate – These marketers make anything from $0/day to $300/day. A vast majority of affiliate marketers fall in this category.
Intermediate Affiliate – Intermediate affiliate marketers earn anything from $300/day up to $3,000/day. They are reasonably successful and many make affiliate marketing their full time occupation.
High Level Affiliate – These are very experienced and highly successful marketers who make $3,000/day quite easily.
Top Rated Affiliate – Top rated affiliates are very famous and they make $10,000/day quite easily. There are only a handful of top rated affiliates out there.
There was an online poll recently of affiliates from a major affiliate network. In that survey, at least 20% of the participants reported an affiliate income of over $1 million. So the possibilities are limitless in affiliate marketing and there is no reason why you can’t make an incredible amount of money.
Tips for Making Money Online as an Affiliate Marketer
Now, let’s get serious and give you some great tips for making money from affiliate marketing.
Select the Right Product and Join the Right Affiliate Network
This is the first thing you need to know as an affiliate marketer. Don’t just join any affiliate network out there. And don’t promote a product without having done your research on it. You don’t need to promote every product under the sun. You only need to market good products that are in great demand and for which there isn’t a lot of competition. Understand the needs of the marketplace before deciding which products to promote as an affiliate marketer.
Use Several Different Techniques to Market the Product or Service
Affiliate marketing is not just about promoting a product on your blog. For sure this is the best way to do it, but that’s not the only way. There are many other ways to promote a product. You can try your hand at YouTube marketing and other types of video marketing.
Social media sites such as Instagram are a great way to earn income for affiliate marketers. Even Snapchat, a new messaging app that has lately become very popular, is a great way to earn an affiliate income. Podcasting is another highly effective technique used by many affiliate marketers to earn a great income.
The possibilities are limitless, you just have to go looking for them.
Use Pay Per Click Advertising to Send Targeted Traffic to the Sales Page
As a marketer, you should look to send more targeted traffic to your sales page and one of the best ways to do that is pay per click adverting. Goole AdWords can be your biggest ally as an affiliate marketer, it sends targeted traffic to your sales page.
All you need to do is to make an ad in your AdWords account and include your affiliate link in the target page URL of the ad. Even as you follow this technique, be sure to track the ROI of your AdWords campaign very closely.
Test Your Affiliate Marketing Campaign
It is important to monitor your affiliate campaign and test the different promotion strategies used by you to find out what’s working and what’s not. Perform split testing or A/B testing on your campaign strategies, tweak them a bit, release them to a select audience and find out what works and what doesn’t.
Modify your campaign accordingly based on your audience’s reaction. Most affiliate programs make the stats on conversion, traffic and ROI available to you for free. You can use your own software for tracking conversions as well.
Do Your Research
As an affiliate, you need to be up to date with the latest trends and do your research on a product. There is no point in trying to sell a product for which there is little demand. You are unlikely to make any sales on it, no matter how hard you try. So spend some time on the research and find a product that your audience wants currently, which fulfills a need or solves a specific problem. One of the things you can do is to conduct am online survey on your site to find out what your audience is looking for.
Hope you found the information given here on affiliate marketing useful and relevant. Here’s what you should know – affiliate marketing is one of the best ways of making money online quickly and legitimately. There are many affiliate marketers who earn over $1 million a year. But it is also a very competitive field, you will have to work hard and work smart to make money from affiliate marketing and to make it your full-time job.