If I asked you; what is your ideal job? What would you answer?
It’s easy to fall into the temptation of saying” I want an adequate income with potential to grow, have a nice boss or work for myself, be able to work from anywhere, be time flexible so you don’t miss precious moments with your loved ones, but most importantly doing something that inspires you every day”. I don’t know about you… but this would be my ideal way of earning a living.
Well, believe it or not, becoming an affiliate marketer, or starting affiliate marketing could be one of the closest answers to this question. So if you are at a stage of your life, where you are fed up with your traditional way of earning a living or have lost your job, if you are tired of the 9 to 5 or want more freedom, and are prepared to learn how to earn an income with affiliate marketing, this post is for you.
What is affiliate marketing?
No matter what you buy online, clothes, runners, computer games, smartphone, or services that you search on the internet, like learning a new skill, booking a holiday or a city break, renting a car, buying insurance for your house, or starting your own online business, etc… chances are that they have an affiliate program.
The biggest affiliate program on the internet is Amazon and they practically sell everything you need…
Looking in the dictionary, Affiliate Marketing is” a marketing arrangement by which an online retailer pays a commission to an external website for traffic or sales generated from its referrals”.
So, with this definition, let’s clarify a few terms: the merchant, the vendor, the creator, the brand, the retailer, this is the party that creates the product, like Nike, Dyson, or Apple. From solo entrepreneurs to startups to massive companies, anyone could be the merchant behind an affiliate marketing program. All they need are products to sell and an affiliate marketing program set in place within their company.
Then we have the affiliate, also known as the publisher. An affiliate promotes one or multiple affiliate products and tries to attract and convince potential customers of the value of the merchant’s product so that they actually end up buying it. Affiliates can also range from single individuals to entire companies. An affiliate marketing business can produce a few hundred dollars in commissions each month or tens of millions of dollars.
There are 3 main payment structures as all the affiliate marketing programs differ from one another.
• Per click: The affiliate is paid a flat rate for every individual they redirect to the vendor’s website.
• Per lead: The affiliate is paid for every prospective customer who visits the vendor’s website and performs its desired action, such as signing up for a mailing list or free trial.
• Per sale: The most common of the three payment structures, the affiliate is paid a commission (e.g., 1% to 10%) for every purchase via the affiliate unique product link.
For example, this post is full of these so-called affiliate links, so if you were to sign up with Skillshare, I would make money. Buy the Ben Greenfield book Boundless and I will earn a percentage. Buy these supplements for training, I get a commission. Sign up for this online business training course, or build your website with WordPress, and guess what? That’s it, I make some money!!
Every business needs customers, so as an affiliate marketer you simply link the customers with an offer and get a commission in the process. Pretty simple hey!
How can you to start with affiliate marketing?
Before you are full-time, you can start as a part-time affiliate marketer, this is one of the best home-based businesses that exist out there, you can do it in your spare time, or after work, or in the evenings, or simply at weekends. As you step up to work as an affiliate marketer, you can increase your chances of making good money out of the profits that the retailer’s websites make.
There is no need to quit your present job to start affiliate marketing at first. All you need to do is dedicate at least 10 hours per week, in the beginning, find a niche that interests you, search for companies that have affiliate programs, locate products you like or have used in the past, and basically promote them and start earning. This is not a get rich quick scheme, it is more of a long term strategy, you will need to learn new skills as you go along for you to become a successful affiliate marketer. These FREE training videos will help you acquire the knowledge you need to make money online.
How much money do I need to start affiliate marketing?
In general, people have time or money, if you are lucky enough to have both that’s even better, but this will determine if you go for the Free ( organic) approach or the Paid advertisement path. Both approaches have their pros and cons. Whichever you choose will determine how you bring customers ( traffic ) to click on your affiliate links.
Unless you have a substantial budget to put into paid traffic straight away, I would suggest you start with organic traffic, and upscale later once you have acquired the proper marketing skills.
Social media platforms like Pinterest, Twitter, Instagram, Facebook, etc. have millions of users. So a good place to start is to place your affiliate links in your profile and posts so you get people’s attention.
You could also start your own YouTube channel and upload videos with your products. If you want to reach out to millions of online users with affiliate products without making any investment, then YouTube could be your platform of choice. Many successful YouTubers earn a 6 or 7 figure income each year just by conducting the promotions of the products they use or are passionate about.
– The most important factor here is TIME. Start now. It will take months to get some ranking in google, to get noticed on social media, to build content that attracts visitors. Start posting on Facebook, uploading videos on Youtube, writing content on your website, acquiring more online marketing skills, it doesn’t matter, take action now. It may not be perfect at first, don’t worry, you will iron out the small imperfections later, but continue taking action on a daily basis.
– Once you have found your niche you will need a website to place your affiliate marketing links. I strongly recommend WordPress as it is widely used, easy to navigate and it’s free. When I started I had no prior computer knowledge, so building a website was alien to me and very daunting. Although many affiliate marketers are self-taught, I was not prepared to do it on my own. So after thoroughly looking at various courses, I signed up to an online education program that I found by accident whilst looking at self-improvement YouTube videos. This was just what I needed to get me started…
–Next step: pick a domain, this is basically a name to identify your website. In simple terms, if the website is your house the domain name would be your address. This will cost you approximately 10$ a year. You can pick a domain name on godaddy.com for example.
– You need to host the site(s) somewhere…A web host, or web hosting service provider, is a business that provides the technologies and services needed for the website or webpage to be viewed on the Internet. Websites are hosted or stored, on special computers called servers… There are many web hosting services, but anyone with decent reviews will be good enough to host a small website. This will cost you approximately 20$ a month. Digitalocean.com, vultr.com or bluehost.com are but a few. Prices vary but pick a basic plan that you can upgrade in the future.
– You should also build an email list/newsletter, there are many solutions for this. The primary task of a mailing list is to receive email messages and forward them to your newly acquired or/and existing subscribers. There are a lot of them: Aweber, Getresponse, Mailchimp … these start at $15 -$20 per month and increase as your list grows.
This would be your initial and basic investment to get your affiliate marketing up and running.
Why to start affiliate marketing in 2020?
By 2020, it is expected that most online retailers will engage in some level of affiliate marketing. This is causing more companies to become interested in all those eager affiliate marketers who can help grow their brand awareness and increase sales.
By 2022, the affiliate marketing industry is forecasted to eclipse the $8 billion mark, nearly double what it was worth in 2015. There is a bright future for affiliate marketing in the years ahead no matter if you are the vendor or the affiliate marketer. By working as a seller, affiliate marketers can gain a passive income with brands and products they are interested in and motivated by. On the other hand, the vendors are taking advantage of all these affiliate marketers creating content and promoting their products with very little cost or effort. I believe that in 2020 and beyond, getting into affiliate marketing is a win-win situation for both affiliates and vendors. Start here and book your next Free webinar to start your online business.
Here is a list of reasons,
- We have seen before that it doesn’t take a lot of investment to start with affiliate marketing.
- You don’t need to hire any employees or rent premises. All you need is a good internet connection, a computer, and time.
- You can start in almost any industry or niche that you truly love or are passionate about. Whether it’s cooking, sports, health, pottery etc, there is a market out there for you.
- When you start creating content on your website via blog or video, it can be any topic that inspires you or that you are an expert in. Building a home-based business should be fun! So make sure before you start any online business you determine a topic that you will enjoy working on every day. I know this plumber who specializes in swimming pool system fitting and maintenance and after 25 years of hard labour started writing blogs on how to look after your own swimming pool. Who would think this specialized and small niche could create some type of income? Well, he did and through his content and his affiliate links he is now earning a 6 figure income thanks to affiliate marketing.
- This affiliate marketing can be daunting at times, but rest assured you are not alone. There is a sense of an internet community, of self-taught people continuously learning, searching, exchanging and evolving within the digital economy. There are forums, blogs, ebooks and all sorts of resources to help you grow your online business. I signed up to a community of like-minded entrepreneurs called SFM, and they have been amazing in technical support, helping with a new mindset, and most importantly with constant moral support for when the going gets tough. The community around you is partly what makes affiliate marketing the best home-based business.
- Once you know how to build a profitable website you can build another one, rinse and repeat as many times as you want. Once your name or brand is known you can start selling your own products, and diversify your income stream.
- One of my life purposes is to live to 100! In this pursuit, health and happiness are my top priorities. Income is also of the utmost importance. This is where affiliate marketing can supplement my income or pension until my 100th birthday.
So what are you waiting for?
I can still remember the 2008 global economic recession where many traditional businesses went under or barely survived. At that time the digital economy was gathering momentum, but this concept was too alien for me, so I ignored it and even dismissed it and carried on with my 9 to 5, because it was familiar, easy, and I was scared of the thought of changing or reinventing myself. It took an additional 12 years, to finally realize the need to learn new skills and get to grips with the changes that the digital economy lay ahead of us.
You might be thinking right now, this is not for me, I am too old to learn, I don’t have any computer skills, this is a bad moment, I don’t have a lot of money etc… I know I did, but believe me, work as you knew it will soon change or cease to exist, so this is when you decide to do nothing and carry on in the hope that things will get better, or you take your first steps towards your own affiliate marketing future.