One of the best ways to make money from home is with affiliate marketing. In this article, you’ll discover how to begin making money with affiliate marketing for beginners, fast ways to make money with affiliate marketing, and how to start affiliate marketing with no money.
Have you ever heard of affiliate marketing? You might have, and you might not know what is it about. Let me try to figure what you think and maybe even compare your thoughts and ideas with the truth. In this article, I will tell you how to make money from affiliate marketing, what is affiliate marketing all about, how fast can you make money from affiliate marketing, and why starting affiliate marketing with no money is a possible option for almost everybody.
Affiliate Marketing Defined
In simple terms, affiliate marketing means selling goods and services from another person or company. It is like a referral service. You set up a website or blog and join affiliate programs that are relevant to your audience. You can connect to these programs through affiliate networks, which provide you with a link that you include on your site. When someone clicks the link and buys the product, you get a portion of the sale as a commission.
How Much Can You Earn?
The affiliate marketing industry is growing steadily. Statista reported that spending on affiliate marketing in the U.S. was predicted to reach $8.2 billion by 2022. That’s up considerably from $5.4 billion in 2017 and $1.6 billion in 2010.
Another study from VigLink offers a closer look at just how much income affiliate marketers are making. According to the survey, 9% of publishers produced more than $50,000 in affiliate income in 2016. The majority of merchants—65%—said they were making between 5% and 20% of their annual revenue from affiliate marketing. The survey also showed a link between experience and revenues. Among the merchants with the most revenue, 60% had been involved in affiliate marketing for five years or more.https://a8da0772af6dc924e738768382f843b9.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html
This majority of merchants said they were making between 5% and 20% of their annual revenue from affiliate marketing.
The biggest benefit of affiliate marketing is that you can more or less earn revenue on autopilot once it is up and running. All you need is a steady flow of traffic to your blog or website. However, there are some downsides.
If a company changes the terms of its affiliate program, your revenues could be directly affected. Becoming an affiliate for the wrong businesses can also create problems. You won’t earn money if your blog or website audience doesn’t feel compelled to buy their products or services. Given the growth of affiliate marketing, you’ll also have to contend with fierce competition from other marketers promoting the same products.
Finally, you’ll have to keep people coming to your website with fresh content.
Developing a Successful Affiliate Marketing Strategy
It is relatively easy to get started in affiliate marketing, but generating sustainable income from affiliate programs is an entirely different ballgame. If you’re thinking of giving it a try, it is vital to lay the groundwork first.
Start by thinking about your audience. What kinds of goods and services do they want? Which products are you currently using that you would feel comfortable recommending to your readers? You can always add links to any affiliate program to your site. However, it would be best if you stuck to products that are connected with your websites to maximize the click-through rate and keep your audience.
Next, research individual affiliate programs to compare their structures. You want to consider factors such as the size of the commission and how often the company pays affiliates. Make sure you also understand any rules they impose on members of their affiliate networks. Always remember that you’re likely to make more money with affiliate marketing content that is similar to your own.
Finally, be upfront with your readers. Adding a disclosure to your blog posts or somewhere on your website lets them know that they may come across affiliate links. This disclosure adds to your credibility, and it is also required by the Federal Trade Commission’s endorsement guidelines.
According to their monthly income, we can divide affiliates into:
- Total beginners, who are only losing money at the moment;
- Low-level affiliates, who earn up to $300/day;
- Intermediate affiliates, who earn from $300/day up to $3,000/day;
- High-level affiliates, who earn above $3,000/day;
- Super affiliates or, as you can often find them being called, “gurus of affiliate marketing,” who make more than $10,000/day.
Success in affiliate marketing is about persistence and continuing nature. You can’t assume that your profit will always be the same if you once earned 300$ per day. In Affiliate marketing, there are plenty of cases when, after earning somewhat a very modest income for a long time, people skyrocketed overnight. It is all about choosing the right niche and the right strategy. And there are plenty of opposite cases when affiliate marketers went from high incomes to sod.
How long does it take to make a steady income?
Getting to the point where you earn consistently from affiliate programs might take a while, so you probably should not quit your job from the very start. Usually, it takes from 6 months to several years to start making profits with affiliate marketing. More precise timing and your overall success depend on your ability to create quality content, optimize for SEO, drive traffic, and promote your affiliate products. Don’t forget about the active usage of social media and email marketing. You will not skyrocket overnight. But by being consistent in the promotion of affiliate products, having the right marketing strategy will bring you to your desired income.
Decide who you want to be in affiliate marketing
There are several ways you can earn in the affiliate business; you need to pick your side. You can become a publisher and promote products from different brands and advertisers, or you can create your affiliate network and build an all-around digital advertising business. You choose which way to go!
We suggest looking into both parties and the role affiliate marketing plays for their income.
Earning in affiliate marketing as a publisher
If you start from scratch and with no investments, your only option is to become a publisher and promote products. Sounds pretty simple, doesn’t it? While it may sound so, it is not that easy in practice. Do not expect to post several links and see hundreds of people buying products via them. To achieve this, you first need to have and implement a well-thought-out marketing strategy.
Staring in affiliate marketing cannot do without two essential steps:
- Choose a niche
- Consider starting a blog or other platform where you will post relevant content
Choosing an affiliate niche
Choosing an affiliate niche is an essential step in predetermining your job satisfaction and approximate income level.
Correspondingly, when choosing one, you should take into your personal preferences towards the possible product. If you already have a blog with a loyal audience, you can reverse the science and choose the vertical where your already existing content fits. You may choose a nice that is close to your professional background, your hobbies, or something you have a genius interest in.
Further, check what the average affiliate commissions for products within the chosen vertical are. Be ready to find out different commissions, but also diverse conditions that affiliate programs apply. Knowing the average commissions will also help you understand the volume of effort and amount of content you need to produce for the desired profit. We have a short overview of affiliate commissions in the most popular verticals.
Creating a blog
As a publisher, you need an online platform where you will post affiliate links. Two common options for affiliates are either a blog or a youtube channel. Or both suppose you can handle it timewise.
It would be best if you did not solely base the choice of a platform on whether you feel comfortable in front of the camera or not. Keep in mind some fundamental differences between blogging and vlogging. Among the most important are:
- The blog is your property, while a youtube not. You can’t sell a youtube channel should you wish;
- Blogging is more SEO complicated;
- Blogging will cause extra costs on the domain, hosting, development, while Youtube is free;
- You can edit text and add new affiliate links over time. You can’t edit published videos.
You can check tips on how to promote affiliate content here.
I’ve launched a blog. Does it mean I am all set to go?
Of course not. You can’t just set up a blog and post an affiliate link there. Well, you can, but you won’t receive anything from that. We hope you understand that.
Growth your blog audience
The strength of affiliate marketing was always about unobtrusiveness. Users shouldn’t understand that it is an advertisement. The placement should be of a maximum native character. To achieve this, you need to produce content regularly to grow a loyal audience that may further take an interest in advertised products.
In digital marketing terms, you need traffic first. The majority of ad networks will ask you about the traffic volume once you apply to join them. Hence, keep in mind that traffic first, sales second.
Do not neglect email list growing, it would help to widen your presence in different channels of promotion. Free webinars and different tutorials are great tools to grow an email list.
And don’t forget about SEO
You won’t have much traffic if your website is poorly SEO-optimized. Ensure that you research your niche-specific keywords, and use them in the right places, create competitive content for top search positions. If you don’t think that is enough, look for SEO tools to optimize your blog.
Join ad networks and affiliate programs
Once you have a blog with stable traffic, you can start applying for affiliate programs. Consider both affiliate networks ( Amazon, Clickbank, Rakuten, Commissions Junctions, etc. ) where you will find plenty of programs and products to promote. But also research a stand-alone partner program. Check websites of products you would like to promote, whether they have information about the affiliate program. Not all businesses join affiliate networks; some create programs of their own and recruit publishers to join.
Today you can also ease the process of finding partners with the help of marketplaces that bring together various media partners (affiliates) and advertisers, such as Affise Reach.
What are the perspectives of professional growth in affiliate marketing?
Obviously, your first personal KPI is the size of your monthly check proportionally to the amount of effort and time you put into the work. As an affiliate marketer, your goal is to make a passive income in perspective.
Second, once you are a skillful affiliate looking for new growth points, you may think of launching an affiliate network.
Earning in affiliate marketing as a vendor
Suppose you have a product of your own. In that case, you will probably agree that as a product owner, you want to concentrate on developing the quality of your product or direct product delivery. You want somebody else to take care of the promotion, and you want them to do it well. Whether a vendor has in-house marketing or not, adding an affiliate program into your marketing strategy is a great asset. One can significantly increase sales with affiliate help.
Interesting fact, being a vendor from the start, Amazon was the first to increase its profits by introducing the Amazon affiliate program.
How can one do it?
In this context, vendors have two options: join an affiliate network and create a partner program there or create a partner program of their own on a SaaS partner marketing platform. You can compare two options here.
Once an advertiser signs up, he can create a program. Advertisers usually start with a partner program description, its rules, and policies, marketing collateral. Once it is all set, they begin recruiting affiliates to join their program.
The benefit of running a partner program is that you have access to all ad campaign data. You can control the performance of all your partners and see what performs better.
Affiliate marketing can be lucrative, but it takes a commitment of time and money to make it a real business. Do thorough research before you jump on the affiliate-marketing bandwagon.
Also, remember to avoid putting all your eggs in one basket. If you’re hoping to build a moneymaking website, diversifying your income streams is a smart move. Traditional advertisements and selling your own products can help if your affiliate-marketing revenue dries up.