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What is affiliate marketing?
Affiliate marketing is a type of marketing where one promotes another company’s products. The affiliate makes a commission anytime they successfully make a sale through a custom link that is generated specifically for them for the company they are promoting for. Many companies have an affiliate program and leverage the power of others to promote their products. It’s a brilliant way to make money for both parties. The company can reach more audience from someone else’s word of mouth and not have to pay for it till a sale is made. Meanwhile, the affiliate leverages their personal brand in order to promote something that they believe in and make a commission from the sales.
Who is affiliate marketing for?
Affiliate marketing is best for any entrepreneur who wants to make an income online, but do not have his or her own products or service. Even if he or she has a product or service, they can still promote an affiliate program. It is a great additional income source for those that already have businesses too. I personally think everyone doing business online should be leveraging affiliate marketing because why not get paid for promoting the products you love and probably already use also?
Why start affiliate marketing?
Affiliate marketing does not cost very much to start, which is why it is such a great form of income stream for entrepreneurs who are just starting out. You can start with a blog for about $50 for a domain and hosting for one year. You can even get started for free if you decide to use social media as your platform to start this business.
Unlike ecommerce or entrepreneurs who sell their own courses online who have to manage customer service and returns, affiliate marketers do not have to do any of that since the product they promote are not theirs. If someone purchases a product, the customer service goes directly to the company who is selling the product. No hassle, no headache!
Affiliate marketing can be a super passive and lucrative income stream. There are many people making fulltime income passively with affiliate marketing. There are even people making $100,000 a month passively solely from affiliate marketing through their blog. The possibilities are endless.
Most affiliate programs average from 10% commission to 50% commission. If a product you are promoting is $100, then you receive $50 once someone purchases if the commission is 50%. Products aren’t just in the low-end price range, some are in the four figures and five figures mark. Some programs even have bonuses and rewards for whoever generates the most sales. These rewards include cash bonuses, and even prizes like a car.
Some programs are recurring monthly payout, which is one of my favorite forms of income streams – residual income. Imagine when someone purchases a product where they are paying monthly, and you make a monthly $50 commission from it passively. That is a total of $600 from one person in a year. How much can that add up to when you have several on a subscription base?
Getting started with affiliate marketing
Affiliate marketing requires very little money to start. All you need is a blog, a social media channel like YouTube, and/or a funnel system. You’ll also need a niche that you can blog or create videos on so that you can build a following and be able to monetize. Everything can be monetized, but there are some niches that are very lucrative like health and fitness. Most affiliate programs do require that you own your own domain name with a blog or a YouTube channel.
You can check out the tutorial and learn how to start your own WordPress blog to start making money with affiliate marketing here. Blogging is a good platform for affiliate marketing because it can house all your content. If someone finds you from social media or Google, they have a way to read through your blog and make a purchase without having to speak to them or keep advertising it on your social medias. It’s also a great way for them to opt in easily to your email list because the money is always in the email list. Ever hear that saying before?
You can also start a free YouTube channel, create videos, and post your affiliate links in the description if you want to get started for free.
You will want to have a funnel system like ClickFunnels in place so that you can generate leads and sales. A funnel is a system that captures leads and takes them through a nurturing sequence. Once you have built the like, know, and trust factor with someone, they will most likely buy from you. You can try out ClickFunnels for 14 days here. You can also leverage Facebook Pages to have others go to your landing page on your ClickFunnels so that they can go through your sequence and buy. ClickFunnels is great as you can use it for so many other things like ecommerce, sales pages, landing pages, etc. It’s the all-in-one marketing tool that many businesses use.
If you’d like to learn how to get started with affiliate marketing, fill out the form to sign up for this free 14-day course that is valued at $997. You’ll learn the ins and outs of affiliate marketing, as well as how to become an internet marketer. You’ll learn the process on how to drive traffic, generate leads, make sales, etc. It’s a great course to learn how to be an online marketer in general which you can use to build any type of online businesses. Sign up below.
Best affiliate programs to make money
In my opinion, the best affiliate programs are the ones that are high-ticket items, residual, or ones that place a sticky cookie so if anyone purchases something on that website, you make a commission for it.
ShareASale is one of the top affiliate platforms where affiliates can sign up to work with brands. All it requires is a ShareASale account. You can sign up for your account here for an account. You can then search the database to see what companies are on the platform and request to be an affiliate for them.
Amazon Associates is an affiliate program through Amazon that many affiliates use. The commission isn’t as high as other programs out there as you are capped at 10% commission, but there is a 24-hour cookie associated with the link. If someone buys anything on Amazon within that time frame, then the affiliate can make up to 10% commission on the sale.
The possibilities are endless with affiliate marketing. You can promote as many companies and brands as you want and there are a lot of other affiliate programs to join. You’ll want to find a niche in which you would like to talk about and then you can get started with the training above.