Do you want to earn money even when you are sleeping? Sounds too good to be true, right? Well, not anymore because affiliate marketing has made it possible.
You don’t even have to invest anything in it and still get paid a considerable amount, depending on the product you choose. You would be surprised to know that according to a survey conducted by Insider in 2021, influencers can make from $50 to more than $25,000 monthly by only using affiliate marketing.
This goes to show that this up-and-coming way of earning passive income is grabbing the attention of all those who actively use the internet and want to take advantage of it to the fullest. Moreover, it is worth noting here that only a stable internet connection can help you earn money in six figures online.
Providers like Cox Communications make the job easier by delivering high-speed internet connections at affordable prices.
If you are thinking of testing the waters, then ditch the old sluggish network and get yourself a subscription to a reliable Internet Service Provider. Even if you are a Spanish speaker, you can still contact the customer support of Cox en espanol to know about plans and prices. Make your dreams come true by taking this first step.
Before we get into the whole shebang of how you can kick start with affiliate marketing, let’s first take a moment and understand what it is all about.
Affiliate Marketing; What it is and How to Get Started
What is Affiliate Marketing?
Does, “Click on the link in the description down below and use my promo code to get a discount!”, ring a bell? This is the type of affiliate marketing every other content creator on YouTube uses.
Affiliate marketing is the process where the publisher earns a commission by simply promoting a product created by another company. If it ends up generating sales for the said company, then the publisher gets a reward for it.
Therefore, you don’t need to have a product of your own or sell your personal services, instead, you will be promoting the products of other brands.
If you are still skeptical whether this whole trend of earning money is legit or not, then we have a study to back it up. According to Payscale, as of 2022, affiliate marketers can make from $39,000 to $73,000 on average per year.
Startup Guide to Affiliate Marketing
Now, we are already sensing the excitement rising from your side and we know that you are eagerly waiting to know how you can also get started with it. So, let’s jump right into it.
Step 1: Choose a Niche
Jumping headfirst in the field is like setting yourself up for trouble. You cannot just choose any niche you come across at the first glance, especially if it has the potential of going out of the trend faster than the speed of light.
For this, you need to do proper niche research and look for a business that is likely to provide you with good earnings. As Elise Dopson, founder of Sprocker Lovers said, “Choosing a niche is a strategic business decision designed to serve a specific customer base.” Keeping this in view, you should never go for the niche that does not have the potential to reach a maximum audience or something that cannot help you earn money for years down the line.
Step 2: Choose an Effective Platform
Now that you have a niche in mind, it is time to choose a platform where you can host affiliate content. Depending on the interest and inclination, every affiliate marketer has a different approach to choosing an effective platform.
Mainly there are two methods of choosing it.
Product Review Website
Sites like Wirecutter provide a platform for multiple people to publish buyer’s guides or tutorials to help the readers decide for themselves. They also use it to promote certain brands or services. As a result, if the buyers click on the product and make a purchase, the reviewer earns a commission.
Digital Content Platforms
This is the one you are most likely familiar with. Digital content platforms like YouTube channels, Instagram, TikTok, or blogs are incredible places to reach the audience and become an affiliate marketer. They create and thus publish content that can influence their followers. In this way, the marketers successfully gain clicks.
Step 3: Find Affiliate Programs to Join
Whether you are promoting a product or a service, you can find thousands of affiliate programs to join. However, never recommend signing yourself up for more than a couple of programs, especially if you are a beginner.
Look for a program that offers good commission, decent conversions, and reliability.
If a program already has a bad reputation in the market, then it can backfire. Therefore, signing up for networks like Amazon, ShareASale, and Clickbank can be a good idea as they offer impressive commission rates. Additionally, you can also try your hands on SaaS products such as MailChimp, Clickfunnels, HubSpot, and many more.
Step 4: Create Affiliate Content
People are consuming content on a daily basis. They come across all types of ideas and hence, look for something that stands out. You need to create content that has value to it and one that can resonate with your audience.
If social media is your forte, then you can use it to create content. In fact, according to Statista (2022), the average daily social media usage of internet users across the world is around 147 minutes per day, which gives you an amazing opportunity to reach people through your social media presence and, use it to promote the products.
Step 5: Create Email Lists
Once you create email lists, you can reach your audience directly and send them newsletters or updates on your newly created content. You can also advertise promotional or limited offers to those who sign up for your email list.
- Read also; How to become a successful product manager
You can also tag influencers on your posts or follow people who could be interested in your niche. The main goal is to reach as many people as you can to increase the traffic to your platform.
The Bottom Line
Keep in mind that affiliate marketing is not some scheme that can help you get rich overnight. You need to put substantial efforts and try different methods to finally achieve the goals. We hope that you found this article useful as it describes everything you need to know about affiliate marketing as a beginner.
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