I am sure that have all clicked on a video link, or read an email from a financial guru claiming that you can gain financial freedom, escape the 9 to 5, and have the lifestyle that you have always dreamed of.
The question is. Is it true, or is it another online scam?
The answer is “Yes” to both.
You can make money as an Affiliate Marketer, but just like any other business, there will be some pitfalls along the way. In this article, I will uncover the truth about whether you can make a passive income from Affiliate Marketing.
What Is Affiliate Marketing?
Affiliate marketing involves a merchant (your supplier) who pays a commission to other online entities, known as affiliates (the seller), for referring new business to the merchant’s website. Affiliates only get commissions when their online promotions actually result in a paid transaction.
What Is The Reality For An Affiliate Marketer?
The reality for an Affiliate Marketer is just the same as for anyone else that is in business.
There is a tiny minority that makes hundreds of thousands of dollars (most affiliate commissions are paid in US Dollars)
There is a small percentage of Affiliate Marketers that generate a passive income that they can live on, or use to subsidise there career.
There is a large percentage that don’t make any money at all. So why do so many Affiliate Marketers fail?
Just like any other business, the truly successful Affiliate Marketers are the ones that:
- Are Truly Passionate About Affiliate Marketing
- Follow The Training That Has Been Provided
- Have The Self-Discipline To Work Consistently
- Have Self-Belief And The Determination That They Will Succeed
What Are The Pros of Affiliate Marketing?
There are many reasons why Affiliate Marketing is a good option when starting an online business:
- Work From Anywhere That Has An Internet Connection
- Low or Zero Start Up Costs
- No Need To Create Your Own Products
- Have The Potential To Earn A Passive Income 24 Hours A Day, 7 Days A Week
- Don’t Have To Ship Products (If Selling Digital Products)
- Training Is Often Provided So No Previous Experience Is Required
- Additional Income If You Are Already A Blogger
What Are The Cons of Affiliate Marketing?
Just like most choices that we make in life, there are some advantages as well as disadvantages. Here is a list of some of the cons of Affiliate Marketing:
- Can Take a Long Time To Generate Traffic That Results In An Income
- Competitive Market Place
- Loss Of Repeat Business As The Customer Starts Buying Direct From The Merchant
- Poor Quality Affiliate Products Can Ruin Your Reputation In The Market Place
- May Not Get Paid Commission From Scam Merchants
- Making Small Commission Per Sale With Low Ticket Items
Tips On How to Become a Successful Affiliate Marketer?
Find A Reputable Merchant
The first step when starting out as an Affiliate Marketer is to find a reputable merchant. Check to see how long the merchant has been active in business, and check out forums and review websites to get feedback from other Affiliate Marketers.
Do Your Research
A good place to start is by having a good understanding of the Affiliate Products that are on the market that will suit your target audience. Choose Affiliate products that match the niche of the content that you are producing for your blog or website. For example, if you write blog posts about Health and Nutrition, a suitable Affiliate Niche would be health supplements. You want to be seen as the specialist in your chosen field so it is recommended that you choose Affiliate Products that you have good knowledge about.Get Yourself Noticed In The Market Place
Now that you have chosen your Affiliate Niche, it is time to let the world know what you have to offer.
Paid adverting on Social Media is also a great way of creating product awareness. Facebook, Youtube, Instagram, and Google are just a few platforms that you can use to advertise your product.
There also many ways that you can create awareness in the market place with strategies that are absolutely free. Sharing content in Social Media Groups and Forums is a good very good way to create awareness. Asking thought-provoking questions, sharing content, and solving people problems on the internet are effective methods of building notoriety and can also help you to choose what will be the best Affiliate Products to sell.
For example, you may ask the question in social media groups, “What Is The Most Challenging Aspect Of Weight Loss?
The majority of your replies may say “Not Knowing What To Eat”, therefore, you may decide that it would be good to sell Food Plans to your target audience.
Monitor & Track Your Progress
It is important to track how successful your marketing campaigns are, and what source of marketing is attracting the most business. This is essential if you are using more than one technique of advertising. For example, you might have a Facebook advert running at the same time as your Google AdSense campaign.
You can check the statics of your web traffic using tools like Google Analytics, Facebook Insights, and Yahoo Web Analytics.
Build Your Own Following
Another effective way of promoting your affiliate products is to email people that have on your database known as your subscribers. You can attract people to subscribe to your email list by offering free downloadable products known as “Lead Magnets”. A good example of a lead magnet is a downloadable eBook offering valuable information about your chosen niche.
Once they have subscribed you your subscriber list, you can inform them by email of the latest product and services that you have on offer.
Build Your Reputation With Good Customer Service
If you want repeat business from your customers, it is important that you offer good customer service. If you get an email enquiry, aim to respond within twenty-four hours. Go above and beyond to solve your customers problems. Not only will there be an extremely good chance that they will purchase from you again, but there is also a good chance that you will get new customers from referrals
The truth of the matter is that you have as much or as little chance of making it as a successful Affiliate Marketer as you would in any other online business venture. If you follow the business principles and are consistent with your work, then you will have a much greater chance of being a success.
If you cut corners, or look for the easy way out, then you are more than likely to fail!
There are many reputable Affiliate Merchants out there that have authentic products, but be aware that there are also sharks inside the ocean of Affiliate Marketing.
It is important that you do your research first about the Merchant and the products that they sell, and identify your target audience.
Avoid being sucked in by any merchants that that claim that you will be making a six-figure income overnight. If something sounds too good to be true, the chances are that it probably is.
To earn a six-figure income as an Affiliate Marketer takes hard work, patience, consistent marketing strategies, and a good reputation.
If you would like more information on how to create a Passive Income through Affiliate Marketing. Please click on this link for my “On-Demand Video Series”
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