Looking to make money in your sleep? Whether you’re in search of a full-time gig or a supplemental source of income, affiliate marketing—when done right—could significantly change your financial situation. In fact, a survey by VigLink estimated that 1 in every 10 affiliate marketers make more than $50,000 every year. Read on to find out how they do it…
But first things first; what exactly is affiliate marketing? In its simplest form, it’s a marketing strategy whereby you promote a company’s or another person’s products/services—and you earn a commission for sales made through your affiliate link. This is a win-win situation for the affiliate marketer (additional revenue), the business selling the products (increased sales), and the customer (needs are met).
Now, how can you make money online with affiliate marketing? Here’s how:
- Find the Right Products to Promote: Did you know that there are dozens of affiliate opportunities available to anyone who care to look? Whether it’s a specific company’s affiliate program or affiliate networks such as Share-a-Sale and Commission Junction—the opportunities are there! You just need to find one with a favorable commission rate.
- Target a Niche: You have higher chances of attracting qualified and loyal leads if you target a niche – i.e., a narrowed down market with a willing audience and clearly defined needs.
- Open and Optimize a Website/Blog/Social media account: The next step is to launch a website that is optimized as far as design and SEO are concerned. In the age of social media, you may also consider using your account as an avenue to drive affiliate marketing sales.
- Build Trust with your Audience: One of the most important –yet overlooked—steps in making money online with affiliate marketing is the issue of trust. The general rule of thumb is to gain the trust of your followers through useful/compelling content and exploring affiliate revenue as an afterthought.