Affiliate marketing can help you earn thousands of dollars a month by recommending genuine products and services that can actually benefit your audience.
Yes, that’s the power of affiliate marketing combined with great content and a trustworthy brand.
It’s a great strategy for earning massive passive income with a little upfront effort so you can earn while you sleep. You can literally earn someone else’s product or service without having to worry about building it.
Given the flexibility and convenience of working from home and earning big bucks, affiliate marketing is becoming popular.
According to Statista , affiliate marketing spending in the United States could reach US$8.2 billion by 2022, up from US$5.4 billion in 2017.
So, if you want to earn money online without investing too much, affiliate marketing may be a good option for you.
Let’s understand what affiliate marketing is and how to make money through it.
What Is Affiliate Marketing?
Affiliate marketing is a marketing technique by which you, as an affiliate, can earn a commission for marketing or recommending the products or services of a company or person.
It’s like a referral program where you can recommend or promote the products and services you like to your audience on your blog, website, social media channels or YouTube channel . And if your audience buys a product or service through you, you get a small commission on that sale.
Commissions can be based on a percentage for each sale, or a fixed amount and sales are determined by affiliate links that the product/service owner has provided to you.
If this sounds confusing to you, let me simplify it for you by explaining how affiliate marketing actually works and what its main components are.
How Affiliate Marketing Works?
In short, you can join affiliate programs relevant to your niche and your audience. You can either connect to these programs through direct brand partnerships or join affiliate networks. And when you join an affiliate program, the affiliate brand or network will provide you with a unique link to include in your promotional materials, such as your blog or YouTube channel.
So, you create content around the product and include the links inside, allowing your audience to click through and buy the product or service. When the sale is made through your link, you receive a small commission on that sale.
Affiliate marketing involves various people creating and promoting a product or service. The main components of Affiliate Marketing are – A Product Owner, Affiliate, Consumer, and Affiliate Network (optional).
Let’s explore their relationships and their roles in affiliate marketing.
The Affiliate Network
While you can partner directly with a brand to become their affiliate, you can make the process easier by doing this with the help of an affiliate network like Amazon Associates. They act as mediators between the merchant and the affiliate and handle things like product delivery and payments to simplify the process.
In fact, some merchants run their affiliate programs only through an affiliate network. In this case, you will have to go through the network to promote the service or product. It can also give you various options to choose the products and services.
Is Affiliate Marketing Worth It?
Sometimes marketers may wonder why they should become an affiliate marketer just to earn a small percentage of the sale they made.
is it really worth it?
Why affiliate marketing when there are so many ways to make money online?
Well, affiliate marketing is one of the cheapest ways to make big money without having to create a product and sell it on your own. All you have to do is recommend the product to your audience and earn money.
Let’s take a look at the benefits of affiliate marketing to find out why you might want to consider it.
Source of Passive Income
Unlike a regular job that requires you to work regularly to keep making money, affiliate marketing allows you to make money while you sleep. With an initial investment of time and effort, you can earn big every time someone buys through your link.
Starting a business usually costs money. If you want to create a product, you will need a lot of things – an idea, money to manufacture, a team to market and sell the product, and other investments.
However, getting into affiliate marketing won’t cost you anything. You just need to invest time and effort to create content around the product and persuade your audience to adopt it.
Work from anywhere
Affiliate marketing works online; therefore, you can work from anywhere to create content and embed links. That’s it. Your content will earn you money as long as the affiliate links work. It’s a great option if you hate the office environment and enjoy working from home.
Better performance, more revenue
Usually a job pays a fixed amount of salary whether you work 40 hours a week or 45 hours. Although you can earn bonuses based on your good performance, this is still limited.
However, affiliate marketing is entirely dependent on your performance. The more effort you put into your content and build your brand and audience, the more you can earn.
How’s an Affiliate Marketer Paid and How much?
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An affiliate is remunerated in different ways:
Pay per click to redirect customers from your blog or marketing channel to the seller’s website where the product is originally listed.
Pay per sale to get a small percentage of the product sale price
Pay per lead to get paid based on the number of lead conversions when signing up for a newsletter, downloading a guide, free product trial, etc.
Now the interesting question – how much can an affiliate marketer earn?
Well, there is no limit. You earn based on your effort, payment model, and your chosen niche or industry. You can earn anywhere from a few hundred dollars to tens and thousands of dollars every month through your affiliate programs (of course, if you do it right). Your earnings will also depend on the number of affiliate programs in your niche, your followers, your subscribers, the quality of your content, and your reach.
For example, blogger and affiliate marketer Ryan Robinson earned around $44,000 in June 2020 .
Also, according to PayScale , the average annual income of affiliate marketers is around USD 51,217.
How to Get Started with Affiliate Marketing?
Getting started with affiliate marketing requires a few things:
- A platform for creating content
- Choose the products and services you want to promote
- Creation of a marketing platform
To be able to talk about a product or service that you can recommend to people, you need to have a platform where you can create content and do promotions. This could be a website or blog , a YouTube channel, or a social media profile like Instagram.
Opening a YouTube channel or a social network profile is not a problem and requires an investment. But, if you want to start a blog, you may need to invest some money in it. You’ll need a domain name, web hosting, and a site builder like WordPress – effortless for everyone, even beginners.
You can use this guide to create your WordPress site easily without coding.
Once your site or marketing platform is ready, you need to decide which products and services to promote. For this, you need to determine what you really want to promote or start your blog or channel.
Always choose products and services from your niche to keep your audience hooked, instead of confusing them with products from a completely different niche.
Here you have two options: you can either partner directly with a seller or join an affiliate marketing platform. If you are a beginner, the latter may be easier for you. They will connect you with merchants and help you earn a lot of money.
Here are some of the affiliate networks you can consider:
Amazon introduces the Amazon Associates program for bloggers, publishers, and content creators to monetize their traffic. Choose from millions of products and use simultaneous links to recommend your audience.
You will earn a certain amount for each qualifying program or purchase. Simply sign up and join the community of thousands of bloggers and creators and post product details to educate your audience about a product and increase sales. Amazon offers you up to 10% commission for each qualifying purchase and program. You can also customize the linking tools to create a unique product link to help visitors open the product page directly.
Monetize your content with the ShareASale affiliate program and create a profitable and long-lasting partnership by recommending relevant services and products to your readers.
ShareASale helps content creators and influencers attract more audience and monetize by partnering with favorite brands. Media Partners can also use the Affiliate Program to manage, create and find relevant brand partnerships.
You can track your affiliate performance with robust and transparent reporting. Plus, attract more customers by giving them back incentives on their purchases.
Promote products and/or services to your audience with Awin affiliate links and create successful partnerships with top brands. It offers an easy to use and intuitive platform with consistent and faster payouts. Whether you’re a mass media partner, webpage owner, blogger, or publisher, connect with the right brands, promote them, and earn a commission.
Easily generate trackable links to share with your audiences, stay informed about offers and promotions, and track your performance to improve. You also get advanced tools to optimize your performance.
Join the Rakuten community for FREE and start earning from today. Rakuten works with a variety of stores and redirects you to the product page where you want your audience to buy and earn a commission in the form of cashback. Open a FREE account in 30 seconds, buy an extension or an application and increase your cashback.
You can withdraw cashback by check or PayPal. Rakuten can also make shopping worthwhile by allowing you to earn money while shopping. From restaurants to horseback riding and clothing to electronics, Rakuten finds the best deals so you can shop easily.
Buy for a minimum of $25 within 90 days of joining and earn a $10 welcome bonus.
Connect with world class brands by joining CJ affiliate marketing program and monetize your content. CJ partners with innovative solutions and tools with strategic advice to help you grow your business. You have robust tools to understand your audience and provide them with the latest products and offers to improve user experience.
CJ provides strategic recommendations based on distribution model, company size, vertical and region. Its intuitive platform helps you start your membership effortlessly to earn commission on successful purchases. You can also use actionable insights to uncover the right brands and latest growth technologies.
Use Deep Link Generator to create links directly from a site or convert existing URLs into links. It offers two monthly payouts and you can track commissions and historical payouts from the Affiliate Dashboard. Plus, analyze affiliate performance from commission metrics based on promotional properties and product type.
CJ’s API provides the flexibility to manage relationships, discover products, access offers, view program performance, and promote products.
ClickBank is one of the leading marketplaces for earning high commissions on quality products. It offers over 4000 quality products from thousands of retailers for affiliate marketing.
ClickBank’s device-level tracking helps you get paid for every sale. It also provides reliable payment delivery and offers the highest commissions in the affiliate program industry, including CPA and revenue share. Plus, its platform educates new affiliates with in-depth training from experts and a comprehensive library of actionable strategies to grow your affiliate marketing career.
Understand your audience choice, partner with brands, and start your affiliate journey to earn money with impact.com . It allows you to monetize your content with products that match viewer preferences, track devices, and provides the control and flexibility to develop profitable, long-term partnerships.
Withdraw your amount once a month on the set day whenever your balance reaches a certain level. Whichever currency you choose, get paid instantly via BACS, PayPal or direct deposit. You also receive personalized text messages, email alerts and information to easily and quickly respond to changes using campaign reports.
4 Steps to Make Money Online with Affiliate Marketing
Here are some affiliate marketing tips to help you make money from affiliate marketing after choosing your preferred marketing platform, whether it’s your blog or the networks above.
Choose your niche
Getting started in affiliate marketing is easy, but there is a lot of competition. And to stand out, you need to be specific about what you’re going to talk about and recommend to your audience.
So choose a niche and build your brand around it. It helps you build a targeted brand and audience who know what they can expect from you. And when they face a problem or ask for advice related to it, they will come to you to find information or product recommendations and boost your affiliate efforts.
For example, you can choose technology as your niche if you like the field and have some knowledge of it. You can review relevant products such as web hosting services, cybersecurity products, SaaS software, etc.
Find relevant affiliate programs
You can find various affiliate programs, but join the ones that fit your niche and match your level of expertise to be comfortable talking about them. They can be:
- High compensation with low sales volume
- Low compensation with high sales volumes
- High compensation with high sales volume
If you are targeting businesses, you can choose high paying programs with low sales volume as they are based on niches such as web hosting, software products, etc. But if you’re targeting consumers, you can choose low-paying, high-sales-volume programs because you’ll be promoting tons of products with mass appeal.
Similarly, products such as credit cards come with high payouts and high sales volume. And if you want to recommend a product you like, you can also contact the company and ask if they have an affiliate agreement.
Create Valuable Content
Creating high quality content is the key to a successful affiliate campaign. Whether you write a blog or create a YouTube video or IG TV videos, be sure to post valuable information that solves your audience’s problems and benefits them. Also, promote products and services you actually believe in before recommending them to build trust for your audience.
For example, if you’re a beauty blogger, you can review products that have helped improve your skin or solve skin problems.
Once you’ve started creating good content and building an audience, it’s time to drive traffic so more people click on your affiliate links. You can do this using the following methods:
Build a mailing list of your readers or audience. Send them useful information, promotions, newsletters, links to webinars, etc., to encourage them to continue visiting your site and see more sales.
Perform search engine optimization (SEO) to optimize your web pages, so that they rank higher in search engines , such as Google or YouTube. To do this, identify the keywords that consumers are looking for, strategically add them to your content and create links.
Use PPC ads where you pay for site traffic. It’s good if you have high-paying affiliate links and a marketing budget.
I hope this information will help you earn a lot of money with affiliate marketing. You can either work directly with a brand and promote their products and services to earn a commission, or choose an affiliate network that appeals to you the most and earn money online while you sleep!