Making Money With Affiliate Marketing
You have probably come across the terms affiliate marketing, especially if you are moonlighting on the internet – looking to make extra money online.
While often heard that many people make money with affiliate marketing, you are not completely sold on the idea of affiliate marketing.
You'll like to dig deeper into this.
Not to worry.
In this article you'll discover:
- What affiliate marketing is
- Pros and cons of affiliate marketing
- Most importantly, how to make money with affiliate marketing
Let's dive in…
What is Affiliate Marketing?
Affiliate marketing is a way to earn money by helping vendors sell their products or services by recommending or pointing them to their ideal customers.
For many online entrepreneurs, affiliate marketing is an easy way of earning money online without having to build a product or stock inventory.
Statistics show that in the U.S, the affiliate market spending is expected to grow by more than 10.1 percent in 2021.
You are just in time to take advantage of this growth.
But first, let's look at some of the pros and cons of affiliate marketing:
- Minimal investment need to start
- Easy to setup
- No risk on your investment
- High-income potential
- Extensive marketplace and products to promote
- Highly scalable business
- Requires patience and consistency in driving traffic
- Commission-based business
- No control over product development
- High competition
Essentials you need to know about affiliate marketing:
As an affiliate marketer, you drive traffic to products or services to earn an affiliate commission.
The main idea is to promote an affiliate product or service through many channels to gain a commission.
To make this work you need to have a traffic source and drive sales. This may seem like an impossible task. However, the internet gives us many ways to reach thousands of people.
How you can promote your affiliate product:
The main idea of affiliate marketing is to gain customers for a particular product or service. This means as an affiliate, you need lots of traffic to secure commissions off sales.
With that said, there's the cheap way or the expensive way to promote your affiliate product.
The cheap way to gain traffic is free but it requires time and effort. If you've already generated some traffic on your blog, you can simply point your existing traffic to the product you are promoting.
Although this is simple and free, for complete beginners who don't own a blog, this is a tedious and time-consuming process. They'll need to put in a lot of time and energy to grow blog traffic. This is known as search engine (SEO) traffic.
On the other hand, you can send paid traffic to your affiliate offer such as Social ads; Facebook ads, Google ads, Twitter ads, PPC and SEM, display ads, etc.
To make it work, you should identify the best traffic channels for your product, and not only stick with it but also optimize your offer.
The most popular channels for driving traffic to your affiliate offers are:
- Facebook Groups
- Youtube channel
- Blogging with SEO (Search Engine Optimization)
- Answering questions on Quora
- Paid advertising
- Google Ads
- Facebook Ads
- Pinterest Ads
- Instagram Ads
- Native Ads
- Twitter Ads
- LinkedIn Ads
- Youtube Ads
Anyone can get started making money with affiliate marketing as it requires no down payment or little capital. However, making money as an affiliate marketer means you must be patient to drive organic traffic.
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