Global economic crisis, lack of employment options, underpaid jobs, and poor security in many countries around the world push us to look for new opportunities for work. Slowly, more and more people abandon the traditional jobs and find their place in one of the many employment options online. Some prefer to offer their services as freelancers. Others think bigger and are trying to push their way to wealth by managing online businesses. One of these online businesses is affiliate marketing.
What is affiliate marketing?
Affiliate marketing is relevantly simple business model which allows each and every one of us to promote products of other companies. The variety of products you can promote is enormous, almost every product in any industry can be promoted through affiliate marketing.
The requirements for promoting products are not high, and in fact, affiliate marketing is probably one of the cheapest ways to start an independent business online. All you will need is a computer, internet connection, and a website or a blog. While some people feel unsure and insecure when it comes to creating their own website or blog, in reality, it is extremely easy with great free platforms like WordPress. Hosting and domain expenses are also extremely low and you can find yourself a basic hosting for just a few bucks a month. The topic of the website is not really relevant, as long as it is something you are well familiar with and willing to write about. There are enough affiliate products for whatever industry you might think of.
Affiliate marketing offers different types of compensation models that determine when and how much you are going to get paid. Here are the most common compensation models:
- Pay per Click – Earns you money every time a person who visited your blog clicks on a special advertisement of the product you promote. While the payment is low, it might be the most stable way for those who only start with affiliate marketing, as the traffic your website gets is probably relevantly low and unstable.
- Pay per Lead – Earns you money every time a person who visited your blog clicks on an advertisement, and successfully submits a simple contact form on the target web page. This model pays much better than Pay per Click, and is recommended if your blog was running for some time now, and you gained frequent readers who trust the content you provide.
- Pay per Sale – Earns you money every time a person clicks an advertisement on your blog and makes a purchase on the target website. Naturally, this model has the highest payouts, but getting people to actually buy something on another website can be challenging. Pay per Sale is recommended for blogs with high traffic.
Benefits of affiliate marketing
The benefits are huge! This can be a topic for a separate article. The affiliate marketers enjoy:
- Work from home
- Zero (almost) expenses – No office, no warehouse, no shipping, no customer support, no need to actually invest in product development.
- Trustable offers – While some products are unknown brands whose quality is unconfirmed, there are also many great famous brands you can promote. This way, you eliminate the need of convincing and developing trust between your visitor and the product.
- Work from home, or from any other point on earth.
I can continue all day long, the benefits of any online business, especially affiliate marketing, are unbelievable.
Is it really possible to earn good money from affiliate marketing?
The short answer: YES!
There are thousands of people around the globe who make a steady monthly income from affiliate marketing. The income levels are anywhere from a few dollars a month to thousands and even more. Like any business in life, what you put into it is what you get.
It is NOT a get rich quick method!
Some so called “gurus” often try to sell magic solutions and blueprints to earning a 5 digit salary in just a month or two. The truth is, that affiliate marketing, especially when you only begin your way, is a lot of hard work. You need to write content and promote your websites, pick the best products, always check and test what works and what doesn’t, and adjust your blog accordingly. This will not get you rich in a few months.
Despite the said above, the longer you’ll stick to affiliate marketing, the easier it becomes. You know how to manage your blog, you will get better at writing, eliminate techniques that do not convert to sales. Most affiliate marketers expand to more than just one blog, and the experience is playing a big role.
Some tips to get started:
- Pick something you are interested in!
- In the beginning (and even later on), stick to reputable products, let their brand names to build the credibility level of YOUR website.
- Test, test, and test again. Testing is a never ending process, don’t be lazy.
- Don’t push products aggressively. People are smart, they know when you are trying to desperately promote a product, and trust me, the result will not be a purchase.
Earning from affiliate marketing is not easy, but it is possible. If you are dedicated, willing to learn, test, maybe even fail and try again, in the end of the day your efforts will be rewarded, and when affiliate marketing is rewarding, the rewards are big!