Could you imagine making money while sleeping, or better yet, while on vacation? It sounds like a dream, but, by building an affiliate marketing plan, it can become your reality. With a bit of hard work and heavy lifting on the front end, you can make it happen!
What is Affiliate Marketing?
Affiliate marketing is an online business model where you earn income through a commission by promoting other people’s products or services.
To start, join an affiliate network and search there for products or services within your niche. Choose something your audience could use, or you’d love to use yourself. Then promote the vendor’s product/service through your content and receive a commission on sales!
What Companies Offer Affiliate Marketing?
… and so many more! In google type, “brands that offer affiliate marketing”, and you will be pleasantly surprised!
But do not solely focus on big brands. Talk to some of YOUR favorite clients and your favorite vendors, too. Oftentimes companies are willing to provide commission in exchange for a new sale. So, make a list of your favorite clients and vendors, and ask them about affiliate marketing!
How Much Can You Earn with Affiliate Marketing?
The sky\’s the limit, my friend! Just note that the amount you can earn will depend on the amount of time you want to dedicate. Affiliate marketing commissions can be high and, since our world is now online, there is often no overhead such as warehousing and shipping.
Know Your Audience and Know Your Product
The key to success in affiliate marketing is to choose products and services that are right for you and your audience. You really need to know your audience’s tastes, values, and behaviors well so you can choose things they would love and purchase. Otherwise, you are just spinning your wheels and promoting products that they would never use.
Leverage Metrics to Streamline Your Strategy
Since affiliate marketing is done online, there are numerous tools you can use to monitor the results of your efforts. You can track sales data, website visitor behavior, trends in the market, and the activity of your competitors.
Monitoring helps you to understand what’s working and what’s not. For example, you might find that one particular blog post converts at a higher rate than the others. This post may be longer and more in-depth. This tells you that your audience responds best to long-form content, and therefore, you should produce more. Alternatively, if they are avoiding the longer blogs and never clicking the links to your affiliate products/services, then only produce bite-sized content!
Do Not Put All of Your Eggs in One Basket
Once you get your first affiliate marketing campaign up and running, launch the next one. Say you only sell to 1% of your audience. Well, if you can successfully sell multiple products to just 1% of your audience, you will make more money than selling just one product to 1% of your audience!
Creating a passive income is easier than you think! You just have to dedicate some time. Then, you can sleep, vacation, or sleep while on vacation and still make money. So sit back, and watch your bank account grow!