In this post, I would like to go through one of the questions I get asked almost every day. Can affiliate marketing make you rich?
I have also included a table of contents so that you can find any references quickly. I would love to hear your thoughts
So Can Affiliate Marketing Make You Rich
Well, the short answer is yes. There are a considerable number of affiliate marketing opportunities out there. And many associates becoming wealthy. And with the current climate affiliates can become prosperous, by promoting the correct products in affluent markets.
However, it’s not all plain sailing for every super affiliate out there. Many more have failed to produce even the smallest of riches.
Is Affiliate Marketing The Right Choice For You
2020 was a year like no other and threw quite a few surprises into the mix of how people thought about building their income.
After many months of enforced lockdown, many people began to start thinking about other ways of building up their income while working from home.
If you are one of these people, then no doubt you have heard of affiliate marketing. And some of the supposed benefits of becoming an associate of a company to boost your income.
What Is Affiliate Marketing
When you think about affiliate marketing, the first thoughts that might come to you are passive income. After all, the idea behind affiliate marketing is simple. You promote other peoples products, often through an affiliate network, and get paid when somebody makes a purchase.
All affiliate marketing is based on revenue sharing. This is when a vendor pays an affiliate to spread the word about their product. And the affiliate gets their sales tracked by a unique link they have been given by the vendor that will trace back to them to get paid.
You can find affiliate products directly from the vendors themselves. Most companies have an affiliate or partner program, but you may need to write to them and ask.
Alternatively, there are affiliate networks where you can get your unique tracking link and have one website to see your earnings.
Is Affiliate Marketing A Get Rich Quick
Affiliate marketing is more of a marathon than a sprint, granted there are a few techniques that will bring you in money over a short period. Still, By becoming an affiliate marketer, you aren’t going to become rich overnight.
The super affiliates that you may well have seen have spent years fine-tuning their offerings and most importantly building their email lists.
Affiliate marketing works best when you have systems in place. Building those systems can take time if you want to do affiliate marketing for a side hustle. (at least to start this is perfect as you can create your digital assets as you learn).
How To Make Money With Affiliate Marketing
Making money with affiliate marketing can be pretty simple when taken in steps.
Join an affiliate network
Even though it is possible to start making money with single products, you can cut out a lot of the trial and error, by joining an affiliate network.
Begin affiliate marketing as a hobby. It will never get further than the hobby stage. Still, once you start to add consistency to your affiliate efforts, you will quickly see how this can change from a hobby into a career.
Affiliate marketing is a lot, like any other relationship, and trust is needed to cement it.
One of the biggest things to make sure that you will make money with affiliate marketing is to build the trust factor in you as a person, and a brand. Suppose you are going into affiliate marketing purely to try and make money. In the short term, you may be okay and make some profits. Suppose, however, you went into affiliate marketing, as a way of helping people. In that case, you will find it much more comfortable and enjoyable too.
People hate being sold too but still love to buy, and if you can find a product that will solve a problem in people’s lives, they will come back to you time and time again.
Always disclose that you are in an affiliate program. Make sure that your audience feels like you are truthful about your recommendation. Even though you are getting paid
Don’t make all of your posts videos or whatever medium you are using be only your recommendations. Add value in every post; that way, nobody will feel like they are being sold and think of you as their problem solver.
Find Good Affiliate Products
When looking for products to offer to your audience, make sure they are of good quality, look out for any reviews of the products and make sure that you would use them yourself.
Once you have established trust, you will be surprised at how quickly it can fade, if you have made a lousy recommendation. This is the easiest way not to make money as an affiliate marketer.
Everything within your product recommendations should be congruent if you usually market a weight loss system. Suddenly jumping into recommending make money online will lose a lot of your followers.
How Much Does It Cost To Become An Affiliate Marketer
Like everything, there can be costs related to becoming an affiliate marketer.
However, you can overcome many of these costs, by using the correct tools, and rather than investing money investing your time.
Some affiliate networks like Awin will charge a $5 deposit, but plenty of networks don’t trust.
There are course domains to buy, but with a service like NameCheap, this cost can be minimal for your first year within affiliate marketing.
If you are using WordPress for your website, this can become a little pricy, and even though there are plenty of FREE THEMES, you would still need to pay for your hosting.
However, one way of overcoming this is to use Groove. This includes a blogging platform and email autoresponder, funnel builder, membership site builder, and free. And there is no hosting fees or SSL upkeep.
You may want to consider paid traffic later down the road, but for now, if you stick to organic, then only spend when you have the money coming in.
How To Make Money With Affiliate Marketing
Start With A Plan
Break your overall goal into smaller segments when going into affiliate marketing
- What do you enjoy
- What can you talk about easily
- Who would be your target audience
- What are their interests
- Which platform or platforms would you like to use
- What type of content would your audience like
- What is everybody else doing in the space
Choosing Your Niche
This is possibly the most challenging step in the affiliate marketing process and one of the most important.
Think long term rather than short term, as trends, will come and go. However, significant niches are always around and will always have people looking for them.
Firstly make sure you are interested in the niche, you may be talking about it for years to come, so you want something you enjoy.
The big niches are
But you will need to niche down and any of these, particularly when just starting.
Don’t be afraid of niching down. You want to be a large fish in a small pond rather than a small fish in a big pond.
Which Is The Best Affiliate Platform
There isn’t the best affiliate platform out there. It is all about which platform suits you. Suppose you are comfortable being in front of a camera. In that case, youtube can bring in fast results once you optimize your videos,. With youtube you have the chance of your video going viral the same day, so is always worth considering.
If writing is more your thing, then a blog is an excellent way to go, and although it may take a little longer to rank your blog, it is well worth doing.
When first starting, it is essential that you only choose one platform, and master it, before moving onto another.
As you don’t want to be spreading yourself too thin.
Of course, you can do affiliate marketing without your affiliate website, but this certainly helps simplify the process.
Build Your Audience
Possibly one of the best pieces of advice and the most often overlooked with new affiliate marketers. When you start to build an audience, you have a group of people who will repeatedly buy from you.
An email autoresponder is vital, but don’t worry, we have you covered with our Groovemail.
Remember though it isn’t your audience’s size that will make you money, it is your relationship with them.
Hopefully, by reading this post, you can see how affiliate marketing can make you rich in 2021.
This is possible by building a trusting relationship with your target audiences and being authentic in what you are telling them.
You will find if you always give more than you take, it will put you in a significant foothold to crush your affiliate marketing.
So what do you think, can affiliate marketing make you rich?