Wondering how to make money with affiliate marketing online? 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’s products.
In fact, it’s usually one of the first things people look into when they want to earn money online (myself included). Because affiliate marketing is such an extensive subject, in this post, I’m going to cover the basics.
Advantages of Affiliate Marketing
- You can start 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.
In my opinion, one of best benefits of using affiliate programs, is that its a great way to create passive income. You can make money while you sleep. In fact, many programs offer lifetime payouts.
- 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.
Getting Started with Affiliate Marketing Online
Affiliate marketing is an efficient ways to start making money online. For the most part, 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. This generally will include explaining how you plan to promote the offer.
Some programs may require that you have marketing experience, while many won’t. Actually, many programs have affiliate managers to help you get started.
Here’s How the Process Works
Step 1: Register with an affiliate program
Step 2: Set up your profile, verify your credentials (email address, website, payment information, etc.)
Step 3: Decide which products you want to promote.
Once you are approved, you will receive your own unique affiliate. That will look similar to this: link.http://www.jkincklvw.net/click-4240873-8955432 or like this: JOHNJONES4.
This is what you will use to promote products and offers. You can begin promoting offers as soon as you decide which platform you plan to use to sell products, i.e., blog, video, social media, etc.
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, it’s 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 Affiliate Marketing Programs
There are many ways to promote affiliate products. Some of the most effective ways to make money with affiliate programs include:
- Posting banners, ads and links on your website or blog.
- Promoting your affiliate links on social media sites.
- Recommending the product or service on related forums.
- Making a video review and posting it on YouTube.
- Running ads on Google, Bing or social media sites like Facebook, Instagram, Twitter, etc.
- Paying an Influencer to promote it on their network.
Each method has it’s pros and cons. If you are looking to create an income right away, then the best methods to use are: running ads or paying an influencer.
In order to learn more about marketing a product or service, be sure to read the program’s FAQ section first. That way you won’t waste your time or efforts.
How Much Money You Can Expect to Earn
The amount of money you can earn varies widely. It can be as low as 2% or as high as 75%. On average, you can expect to make 20% to 50% commission with most affiliate programs. There are programs that 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 is a very lucrative way to earn money online. The good news is that there are plenty of products that you can promote and make money from. By the same token, it’s not by any means a quick path to success. It takes a lot of hard work and persistence.
In order to make money with affiliate marketing online, you will need to be:
- 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.