If you’re looking for a way to make money online, you’ve probably considered trying your hand at affiliate marketing. Simply put, affiliate marketing is when someone pays you (usually a commission) when a purchase is made as a result of your marketing efforts. There are a variety of ways to make money online through affiliate marketing, from selling and promoting products on social media to SEO (Search Engine Optimization) and getting people to click on ads or take a specific action (like making a purchase or signing up for a newsletter).
While it’s fairly simple to get started with affiliate marketing, it’s not as easy to grow as you’d think. For one thing, to generate any meaningful revenue you’ll likely need to scale up your efforts — which can cost you money. For another, the field is cluttered with competition, which makes it difficult to stand out above the rest. Despite these challenges, there is still plenty of room for people to succeed at affiliate marketing as long as they’re willing to put in the work.
Top 4 Ways to Make Money Online Through Affiliate Marketing
Let’s examine the top four ways to make money online through affiliate marketing, shall we?
Sale of Products
The simplest and arguably the most common way to make money through affiliate marketing is to simply sell a product or service. You’ll need to establish yourself as an expert in your chosen field and then promote an affiliate product or service that you believe will be of interest to your audience. It’s a proven fact that people are more likely to purchase goods and services they were previously unable to obtain. For example, if you’re good at baking you can promote a luxury cookie jar that you’re convinced will be a hit with your audience. Similarly, you may want to promote a brand of beauty products that you believe will make your audience swoon. The possibilities are endless!
The good news is there are dozens of affiliate products and services out there to choose from. With so much competition, however, being able to stand out above the rest is no easy feat. To really hone your skill set you’ll need to focus on becoming a master at one or two key areas in order to dominate your niche.
Sale of Domain Names and Web Hosting
A few years back, everyone was in the dark regarding domain names and web hosting. These are the two essentials you need to successfully operate a website or social media account. Essentially, a domain name is a bit like a social media handle, in that it is used to identify your account (i.e., Facebook or Twitter). However, a domain name is something more than just a social media account as it also serves as your website’s address. For example, if you have a blog you can use.blog as a domain name, as long as you have a website hosting package that supports this (most web hosting packages do, these days).
When someone clicks on a business’ online link in their social media account, they’re brought to that business’ website. In some instances, the customer may then make a purchase without leaving the website. A domain name and web hosting are essentially the same, with the exception that a domain name gives you greater flexibility in regards to web addresses (e.g., www.example.com vs example.com).
If you can become an expert in either of these two areas, you can quickly grow your affiliate sales. Simply find a theme for your social media accounts, create compelling content, and voila! You have yourself a potential revenue stream.
Sale of Digital Downloads
This is one of the more recent developments in the world of affiliate marketing and it is being touted as the next biggest thing. Essentially, with a digital download you can promote a product (such as an e-book, a graphic-design program, or an audio file) and commission is paid to the publisher or artist when the product is downloaded. It’s a win-win situation for both you and the customer. The more you put in, the more you’ll get back. In theory, at least.
If you’ve got an affluent, tech-savvy audience who are searching for the newest and freshest content, you can quickly turn a revenue stream using digital downloads. Simply find a product or service that you believe will be of interest to your audience, create content around that subject (with an established base of content if possible), and then promote that content via social media and other digital networks.
Many people have made money using digital downloads, but finding the right product can be difficult. This is particularly true if you’re looking for the top-notch deals, as quality often goes hand-in-hand with cost. Still, as affiliate marketing continues to evolve, more and more people are putting in the work to make sure their businesses will be able to take advantage of this trend.
This is a fairly new option made possible through affiliate marketing’s tiered commission structure. Essentially, when someone visits an Affiliate Marketing Pro website and makes a purchase within 24 hours, the affiliate earns a 30% commission. However, if they make another purchase within the next 30 days, the commission jumps up to 50%!
Tiered commissions can be a great way to earn extra revenue, especially if you’ve got a compelling product that your audience is eagerly waiting to try out. Simply find a product that your audience is already using, or will soon be using, and then create content to encourage them to try out your product.
As you can see, there are many ways to make money through affiliate marketing. Simply choose a product or service that you believe will be of interest to your audience and then get to work. You won’t get rich from affiliate marketing overnight, but you will be able to sustain your lifestyle and put a little extra money in your bank account each month.