Are you looking for a complete guide to affiliate marketing to make passive income as a beginner? Well, if that’s the case, we’ve got you covered!
Affiliate marketing is an incredible way to make a passive income stream regardless of niche or industry. In this article, we’ll jot down some crucial steps that will help you in your affiliate marketing journey.
You might have heard or got inspired by the words people use to describe affiliate marketing: “Earn money while sleeping.” Well, that’s not a myth. Recent surveys estimate that the affiliate marketing industry will increase to $8.2 billion in 2022.
However, affiliate marketing is a great way to fill in your bank accounts, but it wouldn’t work until you are on the right path. So, if you want to know more about it and how it works, scroll down to this comprehensive guide to start your adventure to financial freedom.
What is Affiliate Marketing?
To start with affiliate marketing, it’s essential to know what the term means. Affiliate marketing is a marketing or promoting tactic that sells another company’s goods or services for a commission. The commission can be some percentage of the sales or a fixed amount set between the two parties.
How Does it Work?
As we’ve already mentioned, you can only do affiliate marketing if you are on the right path. The process involves a seller creating affiliate programs run by affiliate marketers. These marketers are provided with a unique link to promote the company’s product or services.
If you are wondering, let us add that each link is unique and different for each marketer. So it is easy to track your revenue and sales channels. Affiliate marketing is a performance-based skill, which means affiliates will only be paid once the visitor has clicked on the link or made a purchase.
When someone clicks on the link and makes a purchase through it. A coin is saved to the browser, informing the product/service owner who sold the product. These coins are saved to earn commission as an affiliate.
Here are some common affiliate marketing models you should know while reading the complete guide to affiliate marketing.
(PPC) Pay-Per-Click: Pay-per-click means an affiliate will get the revenue for every click generated through his website regardless of whether it makes the lead or sale. Well, this case is pretty rare, as who doesn’t want leads?
(PPL) Pay-Per-Lead: In this case, an affiliate will get paid for every lead made. There can be various possibilities to this model. It can be an online form submission, leading to the main page, or anything else.
(PPS) Pay-Per-Sale: This is the most common model as the real risk depends on the affiliate. He will get paid based on the sales he generates.
We think it’s a pretty simple concept, and you might’ve gotten the basics. Let’s jump over to see how you can get started with affiliate marketing.
How Can You Get Started?
As a beginner, you might think that the process is simple: you’ve to choose a favorite product and earn money by promoting it. Well, it’s not that easy. If you want to become a successful affiliate marketer, you must follow these steps.
First, you have to select a niche. It’s better to focus on a micro-niche rather than selecting a broad one. Because micro-niches are less saturated and increase your success chances. Also, focusing on a single niche helps to build credibility among your audience.
For instance, instead of promoting simple bags, promote school bags, travel bags, laptop bags, and more.
We hope you got the idea. Here are some other niche examples you can choose depending on your interest, market competition, and profit margin or commission:
- Tech and Gaming
- Business and Entrepreneurship
Build an Audience
Having an audience that reads, views, and engages with your content is essential. Therefore, the second main step is to build your audience. As these people will automatically help you make affiliate income.
You can build your audience by researching competitors as per your niche. Check what they are doing and how you can improve the user experience to outplay them.
Also, monitor your traffic and build connections with super-valuable content. Once you successfully establish your loyal audience, it’s time to make them your customers. Don’t sound like a sales-girl standing in the stores. Be natural and add value to their lives; they will definitely make a purchase from you.
Sign Up for an Affiliate Program
The third step is to sign up for an affiliate program like Amazon. Upon signing up, they will offer you a unique affiliate link to the products that you want to promote. However, there are no costs associated with registering as an affiliate. But you might need to invest your time and money to promote the products through different means.
How Much Can You Make From Affiliate Marketing?
It seems like you’re intrigued! Wait, let us make a guess. Are you wondering how much you can make from the affiliate program?
Well, earning varies from person to person, depending on their expertise. It also depends on the niche or industry you are working in. On average, most affiliate marketers earn less than $20,000. About half of all affiliate marketers earn up to $100,000 per year.
It takes time to become successful in affiliate marketing. But we’ve seen several successful affiliate marketers earning over $1M per year. Yes! It’s that big. You can also make it with consistency and the right path.
Are You Ready To Start Your Affiliate Marketing Journey?
So, this was the complete guide to affiliate marketing for beginners. Now you know everything you should have known to start your journey as an affiliate marketer. In this guide, we’ve tried to summarize the whole thing that would help you make your way towards passive income.
We hope this information has served you well. Do let us know if you have any doubts or queries left in your mind.