I’m sure many of you are looking for an additional stream of income. You may have already tried a few things like selling products after work or starting a business. These things may or may not have worked for you but perhaps you’re looking at generating a passive income.
Passive income can be described as an income that requires little to no effort to earn and maintain, i.e. it is money that you can generate in your sleep. There are a number of ways that you can generate a passive income, but in this post I am going to be talking about earning money from affiliate marketing. So, what is affiliate marketing?
Affiliate marketing – a definition
Affiliate marketing is an arrangement by which an online retailer pays commission to an external website for traffic or sales generated from its referrals.
Neil Patel describes affiliate marketing as follows:
“Affiliate marketing is the process of earning a commission by promoting other people’s (or company’s) products. You find a product you like, promote it to others and earn a piece of the profit for each sale that you make.”
In other words, if you have a website, like a cooking website, and you promote products from a retailer, then you can earn a commission off the sales of people who visited your site and bought from the retailer.
Why should I do affiliate marketing?
There are a number of reasons why you should consider affiliate marketing. Here are just a few:
I’ve mentioned before that affiliate marketing offers a way for you to earn extra cash, for less work. It is considered a passive income as you do not need to spend hours in an office to earn money. That does not mean that you do not need to work on it at all, but it does mean that you have more control over how much time you spend on it in a given week.
Work from home
With working online there is no need for you to go to an office space or to sell products door to door. This is an opportunity for you to work from the comfort of your own home…or a coffee shop…or a beautiful sunny beach. You can really work anywhere you want to, all you need is a laptop and an internet connection.
Convenient and flexible
Besides the fact that you can work anywhere in the world, another convenience is that you can work at your own time. Can you imagine not having to put in a leave request when you want to have a week-long vacation, or starting and finishing work at whatever time you wanted? You can with affiliate marketing.
Performance based rewards
With most 9-5 jobs you can work really hard, or be completely unproductive, and still receive the same salary, but with affiliate marketing your pay is determined by the work you put in. If you work really hard you can earn big bucks, but if you’re lazy then the amount you earn will reflect that.
No need for physical products
One of the things that I enjoy about affiliate marketing is that I don’t need to keep stock at home. Unlike most pyramid schemes, MLM’s or field agents that require you to buy products and then sell them door-to-door, most affiliate programs have their own warehouses where they stock their products. All you have to do is promote the products.
How do I make money from affiliate marketing?
You may have heard a bit about affiliate marketing and now you’re wondering, “How does it work?”, so let me explain.
- You show a link/ad on your website for an online retailer
- The browser/customer sees the link on your site and clicks through to the retailers site
- The browser/customer makes a purchase on the retailers site
- Once the purchase is confirmed as a valid purchase, the purchase is credited to you
- The retailer pays you a commission.
Sounds simple right? But it’s not quite as easy as all that. What you need beforehand is a site with content and the tools necessary to create such a site, and to generate traffic and sales. This may sound scary and intimidating, so it is essential that you find the right tools and training materials that you need to succeed.
You will notice that throughout our site there may be various links to different products, some of which are affiliate links. As a customer, if you were to click on any of these links and decide to buy a product online, I would then receive a percentage of that sale from the merchant (at no additional cost to you). This is how I would make some moola. Most websites have these affiliate links, which means, almost every time you buy something online, someone out there is getting an affiliate commission. Wouldn’t you like to be the one earning a commission?
Receiving the right training
As you browse the web and continue your research into affiliate marketing you may come across a number of resources and training videos that may help you, but what I would recommend is Wealthy Affiliate.
Wealthy Affiliate is an online business academy/affiliate marketing platform that launched in 2005 and has a community of more than 100 000 members who continually share support and help each other achieve success.
I have been using their training and services, and have found their training to be of a very high quality, their platform is very easy to use and the community is super supportive.
Having the right training and support allows you to grow your business and your income quicker and easier.
Get Started Today
Affiliate marketing is definitely a great way to generate an additional stream of income and to make money online. There are numerous benefits to working online, such as freedom to work wherever or whenever you would like, and generating a passive income.
Making it in the online space can get lonely and it can also be tricky to learn everything on your own. So I would recommend Wealthy Affiliate as a great training resource and platform if you want to get started right away. Their community can definitely help you grow your business and achieve your dreams. You can get started with a free account here.
Look forward to seeing you there. If you have any further questions or comments please let me know below, I would be more than happy to help you out. Enjoy the journey, and all the best!