If you’re reading this it must mean you’re looking for ways to make money online. While it’s still possible to make a full-time living from blogging, for most people, the magic happens when you combine it with affiliate marketing, driving traffic to advertiser’s websites and getting paid per click or per lead. However, before you begin your journey, it’s important to understand what exactly is affiliate marketing and why you might want to try it.
Taken from the affiliate marketing Wikipedia article:
“In affiliate marketing, an affiliate marketer (also known as a commission merchant, retailer, or a network marketer) sells products or services from companies or individuals which she/he has been designated as an affiliate for. In return, the affiliate receives a commission when a purchase is made from a company or individual that she/he has promoted.”
Basically, you’ll be promoting products and services from companies or individuals who are willing to pay you to do so. You can choose to be paid per click or per lead. With per-click paying, you’ll be paid when someone clicks on your banner or link. With per-lead paying, you’ll be paid when someone lands on your landing page and subsequently makes a purchase.
The Pros And Cons Of Each Method
Before you begin using any of these methods to make money online, it’s important to understand the pros and cons. One of the biggest advantages of using affiliate marketing is that, since you’re not directly selling the product or service, you don’t have to comply with product disclosure guidelines. This means you can generate sales even if the product or service is expensive or unavailable in the country you’re operating from. In addition, with affiliate marketing, you’re not required to advertise or have a physical presence in the country you’re operating from. However, one of the biggest disadvantages of affiliate marketing is that, since you’re not selling the product or service yourself, you have no control over the pricing of those products and services. Also, since you’re not in direct contact with the consumer, it can be difficult to estimate how much revenue you’re generating.
The Rise Of Affiliate Marketing
One of the main reasons why affiliate marketing is increasing in popularity is because it provides an additional revenue stream for entrepreneurs or solo-preneurs who want to earn a full-time income online without having to worry about product disclosure issues. Since you’re not directly marketing a product, there’s no need to comply with product disclosure guidelines. In addition, you don’t have to worry about inventory, as you’ll be promoting products that are either owned by the company you’re working with or they’ve given you permission to sell. This kind of setup is ideal for an entrepreneur who wants to continue to grow their business even while enjoying life on the side.
However, even though affiliate marketing provides a number of advantages, it can still be tricky to get started. First, you’ll have to decide on which affiliate marketing platform to use. You have a number of options including Amazon, iTunes, and Google Play. Each of these platforms has advantages and disadvantages. For example, Google Play is great for gaining traction quickly, but maintaining that audience can be difficult if you don’t have the budget for paid marketing. In addition to this, you’ll have to select a merchant account from a number of different banks and financial institutions to ensure your business can accept online payments. Doing all of this can be extremely overwhelming, especially since most affiliate marketing platforms don’t provide users with 24/7/365 support. This is why it’s important to put in the extra effort and research on which platform is best suited for your business.
Alternative Ways To Make Money Online
Even though affiliate marketing is the most popular way to make money online, it’s not the only option. There are several other ways that you can make money online without having to worry about product disclosure issues. Here are three of them.
Selling Your Photos To People
One way to make money online is to sell your photos to people. You’ll have to set your price considering the size of the photo, the market, and what you want for your time. If you’re passionate about photography, consider selling your photos to stock photography companies for a small fee. There are several stock photography companies out there that will pay you per-sale. Just remember, this is a fairly new industry and the competition is fierce. Make sure you do your research before you get started or commit to anything.
One of the biggest disadvantages of selling your photos to people is that, since you won’t have any inventory to worry about, it can be difficult to gauge how much you’re going to earn. In addition, this is a very time-consuming form of marketing. To generate $500 a month, you’ll have to spend 15 hours a week, just selling photos. That’s a lot of time for a hobby business.
Create A Youtube Channel
Another way to make money online without having to worry about product disclosure issues is to create a Youtube channel. Youtube creators can generate a lot of revenue, especially if they have a large audience. To put this into perspective, the average Youtube creator makes 6-figures a year. That’s not including the platform’s advertising revenue, which is rumored to be in the billions. You’ll want to create a channel around a niche interest, like fashion, food, or lifestyle, to attract a specific audience.
The great thing about Youtube is that, since it’s such a popular platform with a massive audience, it’s easy to gain credibility as an influencer in your niche. When potential sponsors see your name attached to a product or a cooking show, they’ll be much more likely to believe you can promote their brands responsibly. Just remember that this is a very competitive industry and you’ll have to build an audience quickly to make any significant income.
Becoming A Freelancer
If you’d like to make money online without having to worry about product disclosure issues, you can become a freelancer. With a freelancer, you’ll be creating content for businesses or individuals who are willing to pay for this content. The only downside to this route is that it can be difficult to find clients, especially if you don’t have any experience in writing. Getting started as a freelance writer isn’t difficult, but finding steady work can be difficult. In addition to this, you’ll have to determine your price based on how many words you write and how often you write. When you first start out, this can be extremely difficult to determine. Just remember that this is a steady stream of income that you can generate even if you aren’t currently working.
As you can see, there are a variety of ways that you can make money online without having to worry about product disclosure issues. Which method you choose depends on your experience and the amount of time you want to spend marketing your business. If you’re just getting started, consider using affiliate marketing to begin with, as it provides an easy way to generate revenue quickly, without having to worry about your product being obsolete or out of stock. Ultimately, it’s all about finding what works best for you.