Affiliate marketing is one of the oldest forms of marketing where you refer someone to any online product and when that person buys the product based on your recommendation, you receive a commission. Commissions can vary from $1 to $5,000 depending on what you are promoting.
So how does it work?
Many online companies who sell products such as shoes, web-hosting spaces, or some other service, usually offer an affiliate program. You can simply sign up for the program and get your unique tracking link. Now, whenever you are writing about their product, you can simply use this special tracking affiliate link to recommend the company’s site. If your readers buy anything, you will get a commission.
Can you make money with affiliate marketing?
The short answer is yes, affiliate programs can earn a extra money and even a full-time income from home. The long answer is a little more complicated. Like any home income venture, success comes not so much from what you choose to do to make money, but whether or not you do what needs to be done correctly and consistently.
The problem with affiliate marketing is that there are many top leaders who send out this get rich quick message. People are under the impression that they can just click, join up and leave it there. They check there account a few weeks later and boom there is a ton of money in there. This is not the case. Like everything else it takes hard work and dedication to make money in any niche.
The reality in affiliate marketing is much the same reality in other work-at-home ventures; there are a few who are filthy rich, a good number who are successful enough to meet their goals, and a ton who aren’t making anything. So, the question isn’t really whether or not affiliate marketing is a viable income option because it actually is, but whether or not you can make affiliate marketing work for you.
The good and bad with affiliate marketing
The good
- Low cost to get started. Most affiliate programs are free to join, so your costs are usually related to your referral/marketing methods and what you go in for. Saying that some programs can cost up to $1000 or even $5000 though the return on such high end products are much higher
- No need to create a product or service. Everything is pretty much a done for you system
- Don’t have to stock or ship products. Everything is provided for you.
- Work anytime and from anywhere as long as you have Internet access. All you need is a laptop or in some cases even just a mobile telephone
- Passive income potential, depending on how you market your affiliates programs.
- Can be added on to current home business to create an additional income stream. It’s ideal for bloggers, information entrepreneurs, and anyone who has a website.
The bad
Now first of all I would say that I do not mean bad as in do not go near affiliate marketing. I just mean here are some points to think about before you jump into this niche.
- It can take time to generate the amount of traffic needed to result in income. Nothing happens overnight
- Be very careful who you team up with. A bad affiliate can ruin your credibility.
- No control over the businesses product, service, or how it does business.
- Some companies have been known not to pay, although there are ways to screen and choose quality affiliate programs.
- Strong competition. When you find a great program, you can bet that many others are promoting it as well.
So how do we make this work and become successful
Well it’s not difficult but it does require knowledge and certain skills as well as a continued effort. It is not a 9 to 5 job nor is it something you can do for only 15 minutes per week. You need to work at it to be successful.
- Start by finding the best program that is suited to you
- Choose only quality affiliate products and services. You’ll be judged by the product/services you promote, so don’t just focus on the income, but also on the quality.
- Consider how to funnel into where you want to send prospects, maybe even use a lead page system.
- Find out the best area for you to send traffic. Are you a YouTube person? Is Facebook your thing or maybe you want to invest in paid ads. Each and everyone of us are different so it is very important to find out what suits you best.
More coming up on this post later during the weekend.
Have an awesome Saturday
Stuart