Simply put, Affiliate Marketing involves referring a product or service by sharing it on a blog, social media platforms, or website. The affiliate earns a commission each time someone makes a purchase through the unique link associated with their recommendation. And if you’re putting in the right effort this very simple concept can go from supplemental income to a very profitable business providing your main source of income, with many success stories making upwards of $80k a month.
How does it work you ask?
- Find an affiliate program – Here are my top 2 suggestions for beginners to help get your website or social media account established.
- Choose which offers or products to promote
- Get a unique affiliate link
- Incorporate those links into a blog (like this one), on social media or on your website
- Watch your bank account grow as readers and followers click on your links and make purchases
Commission rates vary greatly, some affiliate programs like Amazon offer commissions as low as 1% on select purchases, but because Amazon attracts so much traffic those numbers can add up very generously. Other affiliate programs offer as much 50% commissions. There are also affiliate programs that provide flat rate sales. The most important thing to consider when trying to decide on an affiliate program that is right for you is to be part of something that you believe in, something this easy for you to promote.
At this point you may be wondering why companies like Amazon, Nike, Sephora, Hilton and a zillion more would share in their earnings, but the answer is simple. As an affiliate to these business you are an added stream to drive traffic and ultimately income for them.
So now your question is likely, why not? Why isn’t everyone doing this then? Good question. Let me point out a few more great benefits to becoming an affiliate marketer and then I’ll discuss the drawback.
Affiliate marketing is low risk. There is no cost to join affiliate programs. You can start making money immediately with an established product or service. This is something that can be done in your spare time if you’re just wanting passive income to supplement your main source of income. Once you have an established audience it is easy to introduce new products without having to put in extra work to find new audiences.
Ok, I’m done singing its praises. Here is the drawback, if you can really call it one, affiliate marketing takes work, like any other successful business. Initially you have to invest time creating traffic sources before your affiliate link can continuously provide a steady paycheck. You also have to invest time in finding the right product or service to promote. Even when a product or service interests you, or fits your hobbies, marketing that product takes work and time. Perpetual Income 365 (affiliate link) is a great place to start for beginners.
In summary, there are a bunch of links in this article, I am an affiliate to each of these companies. It cost me nothing to become an affiliate with any of them. It cost me nothing to write this article, which I hope has been very informative. Ask this question though, how did you get here, to this page, right now today? That’s the million dollar question and the answers are the bridge to your success. The moment I finished writing this article, I set myself up to make money in my sleep! So look through the links, take a leap towards greatness and start earning. – CPL@PPL