Say you had a rough night, you went to sleep early, woke up, opened up your laptop and there, you earned yourself $30000 while asleep. Isn’t that just a dream come true. Well, this is called passive earning. Earning money while you are basically doing nothing interrelated and a great way of doing this is affiliate marketing. Which is what we will be looking into in this article.
What is Affiliate Marketing?
Affiliate Marketing is basically promoting other peoples’ products on your site and getting a commission if the product is actually sold through your reference. Moreover, the commission can be up to 75% for some products. So, it is surely something that has potential
How does it work
Well, businesses, as we all know, need and have to promote their products. Whereas, affiliate marketers do a very good job at promoting those products as they are trusted in their specific niches. So, basically they will plant a link with some descriptions on their websites promoting the specified product. Which, when clicked on, will open a new page from where they can actually buy the product.
When people click on the link, a cookie is stored on their device and the cookie contributes two main functions
- It helps the business know from which affiliate this customer come through and who must be rewarded in case of an actual sale
- It has an expiration date, which means people don’t need to buy the product immediately for you to get credit. For example, let’s say, someone clicked through your link to buy a speaker, but they had to run to the grocery store and get some other things done. They get back after a few hours and buy the speaker along with headphones. The affiliate marketer will get compensation for the speaker as well as the headphones. Even though he/she wasn’t even promoting the headphones.
How much money can you make through affiliate marketing?
Simply put, there is no limit to how much can be earned through affiliate marketing. For example, Awin affiliates earned around $700 million last year. But this is something that prompted after years of hard work. In reality, you might just start with a check of $3 or $4 so be ready to hustle
Things you will need
First, you will need a platform where you can use affiliate links. For instance, a website which gets traffic and through which you can promote stuff. So, the two most recommended places for this are blogs and youtube channels.
Starting a blog is easier and cheaper than it has ever been. It can cost from one dollar to ten dollars per month. This ultimately gives you the liberty to add links in your content whenever and however you want. The other platform is youtube where you can create content and include the affiliate links in the description.
Choosing a niche
Well, while choosing a niche, an important thing to remember is that it should be a specific niche that you choose not a whole industry. This is a mistake that many people make and something that you should do very carefully. In essence, a topic that focuses on a specific category must be chosen. To elaborate, here is an example, you shouldn’t start any targetting the whole food industry if that’s your field but rather a specific category like deserts should be targetted and than you can eventually expand and even start including grilled dishes. This will not only help you build a more focused audience but also hank higher on search engines.
Another point to note is you yourself should be interested in the niche and market that you are targetting as so many affiliate sites die due to lack of consistency and due to spreading inaccurate information. So, even if you are not an expert in the specific field, documenting the learning process itself can make great content and help to build an audience.
Getting traffic to your site
Now, let’s talk about getting traffic onto your site as this is the very first step that prompts all the other. So, simply put, there are three main ways. First, buying ads from platforms like Google, Bing and Facebook. Paid traffic is great because the moment you start paying you will immediately start getting more traffic. However, there are two huge cons of this
- thy will obviously cost you, and initially, this might mean spending more than you earn
- When you stop paying for ads, the traffic might stop coming that is not something that we want. So, I do not recommend this if you are a beginner as the risk will usually be too high than the reward.
Second, comes the organic social traffic, with most social networks you need followers to actually get a good amount of traffic. Even if you do have followers, you will get sudden ups and downs on od traffic which is not consistent and not something that we actually want.
Lastly, SEO stands for search engine optimization. It is basically the practice of optimizing your pages and site so that they rank highly on search engines like Google. Most importantly, it has the complete opposite effect of paid ads and organic traffic. As this prompts free consistent and permanent traffic that doesn’t just fade over time
On a basic level, SEO comes down to your content and other websites linked to it. Moreover, the actually rank for something on a search engine and come on the first page you will need to figure out a keyword. This will basically be the word for which you want your website’s link to appear when people search it. You can find suitable keywords for the topic you are writing on through sites like Ubersuggest. If you want to further understand and SEO, here is an article we wrote on SEO.
So, Affiliate marketing is a field with great potential and something that you must look into as it is a field with worth over$12 billion and growing at an overwhelming pace.