Hello and welcome to Online Wealth Now. In this article I will cover and show you how to make money online in affiliate marketing.
So I guess the first thing we should get out of the way is the question can you really make money online with affiliate marketing. The answer to this question is yes. It is possible to generate either additional income or even create a full time income. Now that was the short answer and I want you to understand that it also takes knowledge, time and consistent effort on your part to deliver results. Just like in any other kind of business or employment.
There are many ways to make money in the online world. The focus for us here at Online Wealth Now is affiliate marketing. As of 2018 there are over 3.75 billion people online using the internet as a resource to search for solutions to problems and satisfy their needs. All of these people are your potential audience as an affiliate marketer.
The process is very straightforward. One of the pitfalls to be aware of with affiliate marketing, like many other home business options, are the so-called gurus and get-rich-quick programs that suggest affiliate marketing can be done fast and with little effort. Often this process is over complicated by these companies and marketers promoting systems and training. Promising the latest and greatest way to get-rich-quick with a new system or most the recently rehashed material.
Odds are you have come across these claims by affiliate marketing programs that say you can make hundreds of thousands of dollars a month doing almost nothing. These type of products fail in the majority of cases to deliver their promises and equip you adequately to create the foundation of a long term online business.
For you the risk is getting caught in this marketing trap. Or not choosing and sticking with one system that resonates and works for you. If you constantly swap methods or ways to build an online business you will never make any money.
I can’t stress the importance enough to focus on building a long-term business and mastering the method and how to attract traffic. The making money part will not happen instantly. Sorry if that is not what you want to hear. Building a long term online business takes time and effort, and that is a fact.
In this article I will show you and explain the process that makes up an affiliate marketing business in any niche. I am here to help you create the business and life you dream of.
How To Make Money Online In Affiliate Marketing
Step 1 – The Customer
The customer or visitor is someone who is just like you or I. They have performed a search on one of the search engines such as Google, Bing, Yahoo. Or perhaps they arrived through a presence and link on social media such as Facebook, Instagram, Twitter or Pintrest.
They have performed a search because they have a problem, are in pain, require information or need something to satisfy their needs. It is important to be aware that every search performed on the internet has an intent behind it from the potential customer. For example maybe a person is doing well on a diet but they are frustrated that they still haven’t lost enough from their belly. To try to solve this problem they may very well conduct an intent based search such as – How to lose stubborn belly fat.
Our goal as an affiliate marketer is to provide solutions to these intent based searches and satisfy the needs of customers.
Step 2 – Virtual Store
The customer arrives at your virtual store front through their search which is where you will promote affiliate services and products. These days there are many formats that your virtual storefront could take, such as a YouTube channel. Pintrest board etc.
The most common and versatile format is for your virtual store to be a website. This website will be the foundation of your online business. It is a place where you will create content based on presenting solutions to customers that resolve intent based searches. Overtime you are going to build a brand and trust with your customers, and within the industry. Through this content your site will be ranked by the search engines and lead traffic (customers) to you.
These days it is easier than ever to build a website given a little training so please don’t be put off by this idea. I did say that there would be learning, knowledge, time and some hard work. Our motto at Online wealth Now is to Learn, Earn and Prosper. At the start of 2018 I had no idea how to construct a Website or create a YouTube channel. But by applying myself and taking small steps everyday I am becoming more skilled every day using these tools. Just look you are here on a website I have built myself. You can do this as well if I can, I know it.
I personally stand behind and recommend the training and support I have received at Wealthy Affiliate. Please take a look and read more here.
Step 3 – Customer Buys
Nearly every company has an affiliate program. Whether it’s a digital or physical product, or even a service. Which allows you or I to promote in exchange of a commission. By the customer going through our affiliate link. There are over 500 million products that can be promoted as an affiliate. Companies such as Amazon, EBay, Nike, Shopify, Target, Walmart and many more all have significant affiliate programs for you or I to promote online. There are also platforms such as Clickbank or Peerfly where information products can be found to promote as an affiliate for a vast variety of niches.
Here are some reasons why I believe affiliate marketing is a good online business option:
- Low cost to get started compared to a bricks and mortar business
Most businesses require startup capital as well as a cash reserve, to maintain cash flow within the business. To finance inventory and cover direct costs. However, affiliate marketing can be done at a significantly lower cost, meaning you can get started quickly and with a lower start up budget. Beginning this line of work can be relatively straightforward.
- Most affiliate programs are free to join.
Your costs are usually related to how you generate traffic and marketing methods. Be aware of high ticket programs where you have to purchase the high cost products to receive an affiliate commission.
- No need to create a product or service
You don’t need to be an expert or Guru in any area. Creating a product requires a great deal of expertise, testing, time and effort. For example if it’s a digital training product all the material needs to be produced and structured. Perhaps this is video training material. Just consider the time and resource required to do this.
- Handle the sales service
Then all the sales and promotional material must be created. Do you like selling? Most of us don’t so having others taking care of turning leads into sales can be a real positive. As an affiliate all of this is already done for you. You can simply use the material that is created for affiliates in your promotional activities.
- Carry inventory
In the case that we are dealing with physical products we have to carry sufficient stock to meet a customers needs at any time. If we are not in a position to fulfill a customers order we are at the risk of not securing this buyer as a long term customer. Having the right, colour, size, model of all our products in stock at all times can be a stress on our cash flow. Plus the storage of all these items. I have read stories where peoples houses turn into makeshift warehouses!
- Don’t have to ship products
This really is an operation and area of expertise in its self. From identifying the best and most cost effective packaging. To sourcing which carrier to use and which offers the best value in terms of speed of delivery and cost to different geographical locations. When our business is web based we are truly in a global market place.
- Do customer support or product returns
The seller or company offering products or services have to deal with their customers and ensure they are satisfied with what they have purchased. With the structure of affiliate marketing you’ll never have to be involved with customer support or product returns.
The entire job of the affiliate marketer is to link the seller with the consumer. I do think it’s important to mention that you should have confidence and trust in any product or service you promote. If you are promoting dubious products you are going to impact your long term reputation and brand. Also, if a product is returned you will not keep your commission.
- Work anytime and from anywhere as long as you have Internet access
If you’re someone who finds no enjoyment in an office environment, affiliate marketing is a great option. You’ll be able to devise and launch campaigns and generate revenue from the products that others create while working from the comfort of your own home. Its even possible to maintain your business activities while traveling as long as you have access to a laptop and the internet.
- Passive income potential
Most regular job requires you to be at work to make money. One of the most attractive aspects of affiliate marketing is it offers you the ability to make money while you sleep. By investing an initial amount of time into your business, you will see continuous returns on that time as consumers purchase the product over the following days and weeks. You receive money for your work long after you’ve finished it. Even when you’re not in front of your computer, your marketing skills and content will be earning you a steady flow of income.
- It is possible to add it onto a current web based business to create an additional income stream. It’s ideal for bloggers, information entrepreneurs or influencers
With the ability to rank organically in search engine queries, bloggers or influencers with large followings, excel at increasing a seller’s conversions. They sample the product or service and then write a comprehensive review that promotes the brand in a positive light, driving traffic back to the seller’s site. They are rewarded through comsiions on sales for sharing their opinion or using influence to spread the word about the value of the product. In turn this helps to generate additional sales and both the affiliate and the product owner benefit.
- We just direct the traffic and take a commission
Once you have your virtual store front in place your focus will be in driving traffic. There are many ways to do this however when starting out I believe it is best to focus on free traffic strategies. This may through effective SEO on your website or using a platform like YouTube to get your message out. After you have mastered free traffic it will be time to learn more about paid traffic. Approach paid traffic with caution as there is a real and significant risk that you will spend more than you earn back in commissions.
Step 4 – You Make Money
The commissions vary from company to company and product to product. Commission can range from 1% to 75% of total purchase value. Amazon is around 6%, Nike 11% some products on Click-bank and other affiliate networks are up to 75%.
A business typically uses affiliate marketing strategies to outsource some of their marketing costs. Payments are made to affiliates when they refer a visitor who becomes a customer, and therefore they are not spending money before seeing results.
There is also the benefit of increased brand exposure by outsourcing to affiliate marketers. As you and I, the affiliate marketers, increase our presence across the internet on our websites, we are essentially providing free brand exposure for the business. We are reaching and targeting new customers for the business above and beyond their existing sales. This supports why commission levels for digital products can be so generous as these additional sales are a real bonus.
It is normal to find that you will receive a higher commission for digital products than physical products.
You should also be aware that not all affiliate payments are made immediately. The time periods can vary from immediately to 30, 60 or 90 days. Most commonly commissions are payed through services such as PayPal or Stipe.
Summary
That’s the process in a nutshell. It’s really as simple as that. So we are back to the short answer of yes you can make money online in affiliate marketing.
The longer answer is do you believe this model is right and will work for you, and do you have the dedication and resilience to take consistent action to build an online affiliate business?
Will you have the strength of mind to take consistent steps every day to progress you skill set to achieve your goals. Even after a long day at work and spending time with your family will you then make time to work on your business and create content?
I am going to repeat myself and make no apology for it. To get results in your affiliate marketing business you are going to have to work hard and challenge yourself to keep moving forwards. Starting and creating any business in tough. Why would this be any different just because it is based online. When building an online business the results and reward are delayed. The work you put in today may not pay you for several months. It is important that you understand this and are prepared for this delayed gratification.
The rewards are there for those who apply the best learning and strategies and do consistently day after day, month after month.
If you would like to watch a video presentation of this content please head over to my You Tube channel.
I hope this article gave you an insight into the steps and process involved in creating an online affiliate marketing business. If you have any questions or feedback please leave them in the comments section below and I will get back to you.
David
Online Wealth Now – OWN It ! Learn, Earn and Prosper