Did you know that you could make money effortlessly through affiliate marketing?
This is the new kid on the block and its versatility allows you to make passive income at the comfort of your house.
Ideally, this business model is based on the practice of promoting a product by a company or an individual through your established marketing networks.
It works on the principles of earning a commission from the sale of different products upon your recommendation as an affiliate marketer. It remains one of the oldest marketing techniques common in the 21st century.
The beauty of it all is that it is relatively cheap and easy to market because its sole purpose is premised on linking a potential customer to the seller. Once the product is purchased, you earn a commission from this sale.
An affiliate marketer could be an individual, an influencer per se who rallies his/her huge following to buy a particular product, or a blogger who reviews a particular product for his readers.
Email marketing, microsites, and big media-owned websites also qualify to be affiliate marketers.
Nonetheless, individuals with innate marketing skills especially in the digital platforms also fall on this list.
HOW MUCH MONEY CAN YOU MAKE AS AN AFFILIATE MARKETER?
The truth is that it is worth your time and effort. All you need to start is grasping how it works and picking the right product to promote. All products are not the same and they require different strategies to market them.
The secret in breaking even lies in picking a product that you can market with ease and confidence.
Survey polls into affiliates show that you could make anything between $1,600 to 20,000 per month and you could also make up to $2,000,000 every month.
The amount you make is dependent on a few things among them, the level you are in as an affiliate marketer. Beginners lose out at first before they grasp the ropes of the trade while those who have some knowledge of the business take home at least $300 daily.
Affiliate marketers with average knowledge of this model could make between $300 to $3,000 daily according to a poll conducted by a leading affiliate marketing firm.
Then there are affiliates grouped as “high-level” whose daily earnings rank above $3,000. Once you master all the steps and learn the ropes of this trade, you graduate to the highest level of affiliate marketers and become a guru taking home at least $10,000 daily.
From findings in different surveys and studies conducted, you will only come out victorious in affiliate marketing if you are persistent, pick the right niche, and employ an effective marketing strategy.
There are testimonials of people who made just $300 profit in a day but moved way up to bigger commissions every day by doing everything right. This business model requires a high level of due diligence and calculated decisions.
In some cases, decorated affiliate marketers taking home hefty commissions have at some point lost and had to contend with dipping income due to the ever-changing marketing dynamics.
Also, an affiliate marketer makes money in three ways; pay per click meaning the number of visitors who get to the advertiser’s website from your affiliate site, and pay per sale which comes as soon as a single sale is made.
The last pay model for an affiliate marketer is pay per lead which happens when a potential customer keys in his/her contact details on the advertiser’s website.
HOW DO AFFILIATE MARKETERS MAKE MONEY FOR BEGINNERS?
The model of making money for beginners in affiliate marketing remains the same. You promote a product, get a sale and earn a commission.
However, how to start affiliate marketing is often troubling for some people. There are seven things that beginners must do before they start earning.
1. Pick a platform
Where do you want to ply your trade? Is it Facebook, Instagram, YouTube, or an email list? Whatever platform you choose, make sure you can build an audience.
2. Pick your niche
Settle on something unique and one that you can easily generate traffic because this is how you get more potential customers.
3. Join an affiliate program
There are three different types of affiliate programs, each of them bringing home varied incomes.
The low-volume high pay affiliate program enlists products that could net a huge income (in commission terms) from a small group of buyers.
The second category is the high volume, low pay program. Ideally, they have a low rate of income but are appealing to many people.
The last category is the high volume, high pay program which has a huge commission on it and can appeal to many people.
A simple google search will help you decide on what affiliate program to go for putting in mind that the first program is widely used for consumers while the second one works great for a business audience.
4. Generate good content
Great content will always work well with affiliate links. If the audience can relate to it, you are on a winning pedestal.
5. Generate traffic
You have three options on this one because traffic is the core of your model. The more traffic you have, the more the chances of getting a client.
However, with proper research, great content, high traffic, and a cohesive campaign marketing your affiliate products, you could make some good money in about six months.
Patience is a virtue you must practice in this game to avoid frustration.
WHAT ARE THE HIGHEST PAYING AFFILIATE PROGRAMS?
Fiverr tops the list of the highest paying affiliate program. It has passed off as the easiest to promote.
Others include web hosting platforms such as BlueHost, Hostinger, Cloudways, HostGator, GreenGeeks, WP Engine, Liquid Web, and SendinBlue.
Affiliate marketing is a great way to earn passive income especially for people who are good at crafting performance-based revenue projections.
The downside of all this is that it takes time before taking off the ground. If you are not the patient type, you will have a hard time trying to make things work, oblivious of the dynamics that play out in this model.
The hallmark of it all is proper research. With this, you can make your first dollar in about six months.