How to make a living with affiliate marketing
If you’ve read any blog posts about affiliate marketing or seen a friend share an image on Facebook, there’s a good chance you have some sense of what affiliate marketing is. It’s basically advertising for someone else’s product or service and receiving a commission when someone buys something as a result of your recommendation.
Most people are first introduced to affiliate marketing when they see that cute puppy photo with some sort of tag like “Want insert company name> to give us a discount? Help them sell more stuff by clicking here and getting started with their affiliate program.”
And while it may seem silly at first glance, there are many real benefits to becoming an affiliate marketer. With the right guidance from experts, you can use this strategy as a means to launch your own business — and make money in the process. Here is how you can start your own journey as an affiliate marketer today:
What is affiliate marketing?
The easiest way to understand affiliate marketing is to think about the relationship between a publisher and an advertiser. Publishers place ads on their website and in exchange earn a commission from advertisers whenever those ads lead to a sale.
In this example, the publisher is the affiliate marketer and the advertiser is the merchant. The affiliate marketing model can take many forms, but the general idea is that you promote a product and get paid a commission when someone purchases it.
How does affiliate marketing work?
Affiliate marketing is a symbiotic relationship between two parties: the merchant/advertiser and the affiliate marketer. Let’s say you’re a yoga instructor and you want to earn additional income by promoting a fitness app called FitApp. In order to create a relationship with the app’s creator, you’ll need to sign up for their affiliate program.
Once you’ve applied for the program and been accepted, you’ll have access to a unique link that you can use to promote FitApp to your followers. They can click on this link and purchase the product without having to input any of their personal information.
You’ll receive a commission for the sale, and FitApp’s creator will also pay a percentage of the sale to the app store where the product is sold (Apple, Google, etc.).
Pros of becoming an affiliate marketer
There are many benefits to becoming an affiliate marketer. If you have a strong niche, you have the potential to make a good amount of money. Another benefit is that you can earn money while working from home — no schedule or commute necessary.
There are also less obvious benefits to affiliate marketing, the most important of which is that you don’t have to create the product. If you are an expert in a field, affiliate marketing can provide a great way to share your knowledge and make money.
You can also gain credibility as an affiliate marketer by building relationships with other bloggers and influencers in your niche. By encouraging people to purchase products that you recommend, you are helping them solve their problems and building your own brand in the process.
Cons of being an affiliate marketer
Like any business, there are a few downsides to affiliate marketing. First, it’s important to understand that you won’t make any money unless someone actually clicks on your link and makes a purchase.
While you may have a high conversion rate, not every one of your clicks is going to result in a sale. For example, if you’re promoting a fitness app and only one percent of your clicks result in a purchase, you’re going to make very little money overall.
Another downside is that your commission rate will vary depending on the product or service you’re promoting. For example, let’s say you’re promoting an online course to help people pass their driver’s license exam. You might get a fairly high commission rate, but there’s also a high chance the product won’t be very popular.
How to become an affiliate marketer?
The first step to becoming an affiliate marketer is to identify your niche. It’s important to choose a niche that you feel passionate about and can speak to with authority.
Next, you’ll want to find products or services that you can promote as an affiliate.
There are many affiliate networks online, including Amazon, Clickbank, and Commission Junction. When you join one of these networks, you’ll be able to see products that are available for affiliate marketing.
Once you’ve found a product or service that you want to promote, you’ll need to sign up for the program. Simply follow the instructions to apply and, if you’re accepted into the program, you can start sharing your affiliate link immediately.
Affiliate marketing is a great way to make money without having to create your own product. With the right niche and products, you can make a substantial income from this strategy.
There are many benefits to becoming an affiliate marketer, including the fact that you can work from home, you don’t have to create the product, and you don’t have to deal with the upfront costs of starting your own business.
However, it’s important to understand that affiliate marketing is a numbers game. If you have a low conversion rate, you’re not going to make much money. You need to choose a niche that you are passionate about, find products or services that are relevant, and share them with your audience.