Passive income (making money even while you sleep) is a hot topic in 2017 and most probably beyond, and one of the most lucrative ways to earn passive income is through affiliate marketing. Below let me explain what is an affiliate marketing business, hopefully in a very clear and easy to understand manner, and at the bottom of this page I’ll share how I got started with affiliate marketing and then made my first dollar online.
How does Affiliate Marketing make Money?
Affiliate marketing is earning a commission by promoting other people’s products online. You:
1) Pick a product that you are passionate about and want to promote
2) Send traffic (people) to the product website using your “affiliate link”, which is a URL (for example, http://example.com/yourid) that contains the ID of the affiliate (you)
3) Earn a commission if the people actually end up buying through your link
You earn money without having to create the product yourself, and you can do this from anywhere in the world.
Affiliate programs are completely free to join, and there are millions of products or services that you can promote as an affiliate. For example, there are millions of products on the Amazon platform alone, though they offer low commission rates. Affiliate commissions can go as high as 60% or more.
How Do I Get Paid?
Many affiliate programs out there pay commission via PayPal. Commissions could be paid monthly or even daily, depending on the affiliate program itself. No action is required on your part, all you need to do is sign up for a PayPal account (which is totally free) and let the affiliate programs know your PayPal email.
PayPal is the biggest and most popular payment processor online. Not only can you send and receive payments online, but you can also link your PayPal account to your credit cards and bank accounts.
Myths about Affiliate Marketing That Are Simply Not True
The two key myths about affiliate marketing:
1) Consumers do not like affiliate marketing. People don’t search for a product or service online unless they have a pressing need. They actually do check out, and then purchase the products or services they come across via affiliate marketing.
2) Affiliate marketing is a dying trend. The truth is, things haven’t really changed online in the last 10 years or so. Back in the 2000’s, keywords, websites, content and other KEY affiliate marketing concepts were just as important then as they are now. Some things have changed but for the BETTER, such as the inception of Facebook, Twitter, Pinterest, Instagram, etc., and the speed with which we can access information and how often we are accessing it. There are more than 3 billion users of the Internet now vs. 1 billion in 2007.
How Do I Start An Affiliate Marketing Business?
Sending people to product websites through your affiliate links is going to be super hard without a website.
A website is the foundation of an affiliate marketing business. It is where you get your traffic, where you build brand and trust, and where you can promote products or services and generate revenue.
I started my affiliate marketing business by registering as a starter member at a website called Wealthy Affiliate for free.
Starter members can create and “host” 2 websites at Wealthy Affiliate, and they have 20 beginner training lessons to guide you in building your website and getting your business rolling.
Wealthy Affiliate has the most advanced yet simplistic website platform in the world, so the process of building a website can take less than a minute. I’ve written a review on Wealthy Affiliate and you can read it by clicking on the link below.
Last but not least, if you have any questions or comments regarding affiliate marketing please leave them below and I’ll be more than happy to help you out. Thanks!
“You can have everything in life you want, if you will just help other people get what they want.”
– Zig Ziglar