Wondering how to make money with affiliate marketing? Affiliate marketing is defined as the process of promoting another company’s products or services for a commission. In other words, you can make money by simply making recommendations to other people. It’s usually one of the first things people look into when they want to earn money online (myself included).
- You can get started for free.
- There are thousands of affiliate programs and products in different niches that you can promote.
- You can join as many programs as you like.
- It’s possible to earn a lot of money in a short amount of time.
- Many people have become wealthy promoting affiliate products.
- Affiliate marketing is extremely competitive.
- Some markets are over saturated.
- It can take a couple of tries before you find a good profitable product(s).
- It may take a couple of weeks (or months) before you make your first sale.
- It takes a lot of effort to create an income with affiliate marketing.
Because affiliate marketing is such an extensive subject. In this post, I’m going to cover the basics of “How to make money with affiliate marketing.”
Getting Started with Affiliate Marketing
Affiliate marketing is one of the most efficient ways to start making money online. To get started, all you have to do is register with an affiliate program, set up your profile and decide which products that you want to promote.
The approval process is generally pretty simple. Some affiliate programs may require you to have a website in order to promote their products. While others may require you to submit an application to be as an approved vendor.
Once you are approved, you will receive your own unique affiliate link. This is what you will use to promote your affiliate products.
Types of Affiliate Marketing Programs
The most common types of affiliate marketing programs include:
- Pay-Per-Click – This is when you place affiliate ads on your site and every time one of your visitors clicks on the ads you get paid.
- Pay-Per-Lead – With these Affiliate programs, you get paid every time someone signs ups or purchases a product or service that you recommend.
- Pay-Per-Call – This is exactly as it sounds. You get paid every time someone uses your affiliate link to call a merchant and purchase something.
Choosing an Affiliate Product(s) to Promote
A good percentage of companies have their affiliate programs on their websites that you can simply sign-up to. A really easy way to find products to make money with affiliate marketing, is to join an affiliate network and browse through their list of available opportunities. Many brand name companies like Walmart, Best Buy and Allstate Insurance use affiliate networks to manage their affiliate programs.
Some of the best known affiliate marketing networks are:
Because there is a lot of information online about how to make money with affiliate marketing, it’s easy to get confused and feel overwhelmed when you are trying to pick the best product(s).
This is what I can tell you from experience, don’t overthink it. It essentially boils down to common sense:
- Choose products that fit your interest and your personality. You will get more enjoyment out of promoting something you have an interest in.
- Choose products or services that people are willing to pay money for, i.e., weight loss, books, hobbies, etc.
- Make sure the product/service/company is reputable. The last thing you want to do is recommend a crappy product or “scammy” company.
How to Make Money with Affiliate Marketing
On the surface, it seems like it’s easy to make money with affiliate marketing. For the most part, affiliate marketing is extremely simple, but it’s far from being an easy way to make money from home. This is something I learned the hard way.
It’s not just a matter of signing up for a program and then you just start promoting. To be successful, you will need to:
- Have a solid structured plan in place to promote your products.
- A good target market, i.e., baby boomers, stay at home moms, male college students, etc.
- Learn how to promote products effectively.
- Market your affiliate products consistently over a sustainable period of time.
Ways to Promote and Make Money with Affiliate Marketing
There are many ways to promote affiliate products. Some of the most effective ways to make money with affiliate marketing include:
- Posting banners, ads and links on your website or blog.
- Promoting your affiliate links on social media.
- Recommending the product or service on related forums.
- Posting a review of the product on YouTube.
In order to learn more about marketing a product or service that you plan to promote, be sure to read the program’s FAQ section.
How Much Money You Can Expect to Make
The amount of money you can expect to earn varies widely. It can be as low as 2% or as high as 75%. On average, you can expect to earn 20% to 50% commission with most affiliate programs. Some programs may pay higher commissions, offer bonuses or incentives.
For example: You promote a product that sells for $100. The commission rate is 70%. If someone were to purchase the product through your affiliate link, уоu would earn $70 commission.
Key to Long Term Success
Affiliate marketing can be a very lucrative way to earn money online. There are plenty of products out there that you can promote and make money from. It’s not by any means a quick path to success. It takes a lot of hard work and persistence.
To make money with affiliate marketing, you will need to be creative, flexible and maintain a positive mindset. Unfortunately, most people don’t understand this and give up to soon. When they don’t make sales, they quit, look for other programs and repeat the same process.
Does this sound like you? Need to push yourself to the next level? Then you make want to read this post, “Tips to Stay Positive and Focused.”