What you should know about affiliate marketing before you waste a lot of time and money struggling to get results
Estimated reading time: 6 minutes
Table of contents
- How does affiliate marketing work
- How to start your marketing career
- Is affiliate marketing worthwhile?
- How to become an affiliate when you have no money
- What you should know about affiliate marketing
- Upfront commission or recurring income, which is best?
- What are the downsides of content marketing
- Conclusion
How does affiliate marketing work
The term Affiliate marketing simply means you are a commission salesperson for a designated company. When the company gets a sale that you recommended you get paid a share of the income.
Therefore the company has no wasted marketing expense because they only pay on results and you earn for every good lead you provide. A system that should work really well for both parties except some parties are less than ethical.
How to start your marketing career
To sell anything you need a way to do just that. It may be a Website, blog post, Social media even grabbing family and friends but you do need some customers.
I recommend, certainly for the new ones trying this, a quick course at Wealthy Affiliate.
It will cost you nothing and provide a valuable guide if this business is for you.
Affiliate marketing does take some time and input to get the results you want however the return will pay for the input by you.
Many will expect instant rewards but life is not quite like that, you need to take some action to get the cookies so it is up to you.
Is affiliate marketing worthwhile?
This is a business you enter without any stock, debtors, creditors, or capital purchases yet the returns can be higher than many high-priced enterprises.
The post-Covid period has created a never seen before shopping online community that never leaves the house. Buyers have experienced the freedom of online shopping and the old ways of mall trudging will never return. Young, Old, and in between have lost any nervousness about keyboard purchasing and it is now just part of life.
Many occupations and online ventures apply limits and restrictions to high growth and big success trying to even out the playing field however Affiliate marketing is not one of these.
Your income is based on what you produce without limits, restrictions, or even rules to inhibit your performance.
You can be an affiliate for as many companies as you like gathering multiple income streams all at the same time providing you an opportunity for exceptional income returns.
Furthermore, you can work from anywhere at any time choosing the hours and conditions that suit you and not having to bend to the wills of others.
But it still takes effort.
What you should know about affiliate marketing when you are broke
How to become an affiliate when you have no money
This is a very common question asked of Google so let's consider the ways forward and opportunities available.
First of All Wealthy Affiliate will give you 6 months to prove yourself. Training, a free website and appoint you as an affiliate, however at a reduced rate.
You have to have a way to market your chosen affiliate products so that is your first priority.
Social Media is free, except for paid advertising, so that is a great start.
Pick affiliate companies that are easy pickings, web hosting, Data storage, Amazon, Walmart, Ali Express, etc. These companies take you on however you need to perform or you may get booted out.
Amazon was the biggest and best but they have moved to a different model so it is hard to make money, however, it is a good experience for those that want to try.
What you should know about affiliate marketing
By now you should start to realize that Affiliate marketing is a real thing and it offers substantial rewards if you get it right.
Start by making a plan, what you want to achieve, and when. Include how you hope to do this and with what companies you will associate with.
Think about earnings, It takes as much effort to sell a $20 book as it does a $1000 set of cookware but the returns are vastly different.
You have both Physical and virtual products to sell so training courses may be easier than a home gym.
Pick a target market and plan around how they think and act. Targeting teenagers is different to seniors so your material and approach will be radically different.
Plan for a year of activity with a regular review to determine if you are doing everything you should be.
Many companies will want proof of experience so run with some easy ones first to build a base on which you can launch to greater things.
Upfront commission or recurring income, which is best?
The answer is generally based on the greater amount that will win the day. However recurring income can build a nice business model as you develop a good portfolio.
Think of lifetime value and not an instant cash fix.
$20 a month for 24 months is $480 but your cancellation rate should be factored in.
Think long-term and work your income to become a regular monthly payment so that you have built a nice business that will produce results while you are asleep.
What are the downsides of content marketing
First of all, it takes a lot of time and effort to be successful. If you are unprepared for this then it is not for you.
Secondly building your affiliate book with good products that deliver results takes time and the rewards may be slow to come. However, sometimes you may get lucky and hit that home run.
Have more than one affiliate source. Companies change the rules and methods and sometimes you will be left high and dry so having a spread saves commercial grief.
Don't fret about a competitive market. The world is a big place so you really do have an unlimited customer base.
There are a lot of Scam marketers seeking to take your money. Stay with mainstream products and never pay before you try them out or have an iron-clad Money Back Guarantee.
The hardest part is finding those customers that make the purchases. There are lots of ways and finding one that suits you is the first priority.
Conclusion
Affiliate marketing can be a Hobby or a business, the restrictions are few and the opportunities massive so what is not to like?
This page will have affiliate links because that is my job. To introduce you to the best opportunities available and ones where you are safe from the world of scams.
Thank you for reading and welcome to the best job in town, Affiliate marketing.
