Today, I am going to be talking about different sources of passive income and how you could be potentially making money while you sleep cause that’s what passive income is all about. If you already know about affiliate marketing but are just getting started, I would highly suggest that you go to my TOP RECOMMENDATION cause I’ve been earning a lot from this site and the training they provide is invaluable.
It really has taught me a lot about ways to promote and build an online business and it’s okay if you don’t have your own products cause that’s what affiliate marketing is all about. It’s about promoting someone else’s business and after that you earn a commission if the person that you refer to buys products based on your referral.
WHAT IS AFFILIATE MARKETING?
Affiliate marketing is a process of earning a commission by promoting other people’s or company’s products. When you find a product that you may want to promote then you promote it to others through your own social platform which may be from a blog, Facebook and other medias and for each sale that you make, you are going to be earning what’s called a commission based on each sale that you make.
Typically commissions range in between 4% to up to 50% and that’s quite a lot. So, when you are deciding to promote someone’s product, first make sure that you can convince someone to buy the product that you are going to be promoting.
So, with affiliate marketing, the sky is the limit as you will discover more ways to come up with promoting products as you go on and learn about SEO (Search Engine Optimization) , PPC (Pay Per Click) and many other search terminologies which really helps you boost your traffic organically.
There are also three key factors that mainly decides on your success:-
- Visitors / Traffic
- Click Rate
- Conversion Rate
The amount of revenue you can generate is based on a simple formula:
Revenue = Visitors x Click Rate x Commission
Improving any one of the variables on the right side can drastically lead to increase in your revenue, so affiliate marketing mostly goes down to managing these three factors.
How To Make A Passive Income With Affiliate Marketing
Affiliate marketing really is a quick and inexpensive method of making money online without having the hassle of actually selling the product, but how exactly does an affiliate get paid after linking the seller to the consumer? The answer can vary and the customer doesn’t always need to purchase the product for the affiliate to get a kickback. Depending on the type of program, the affiliate’s contribution to the seller’s sales will be measured differently. Here are some of the ways by which the affiliate can get paid:
1. Pay Per Sale
It is the standard affiliate marketing structure. In this program, the merchant pays the affiliate a percentage of the sale price of the product after the consumer purchases the product as a result of the affiliate’s marketing strategies. So, the affiliate must get the investor to invest in the product before they earn their commission.
2.Pay Per Lead
This is a more complex system, this program compensates the affiliate based on the conversion of leads. The affiliate must persuade the consumer to visit the merchant’s website and complete some desired action – which can be filling out a contact form, signing up for a trial of a product, subscribing to a newsletter or even downloading and installing software and files.
3. Pay Per Click
This focuses on incentivizing the affiliate based on whether or not he can redirect the customers from their site to the merchant’s site. This type of affiliate is paid based on the increase in web traffic.
Do I Become A Affiliate Marketer?
So what are the reasons you would want to become an affiliate marketer?
1. Work from home
If you’re someone that hates the 9-5 job and would rather just want to earn money from home, then affiliate marketing is the perfect solution for you. This is a job you can do while you’re sleeping in your bed with your pajamas on.
2. Cost effective
Most online businesses requires that you put in a lot of startup fees as well as cash in order to finance the products that you sell. However, affiliate marketing is different as you aren’t selling your own products so that you don’t necessarily have to worry anything about shipping the product or even making sure that the product has been successfully delivered, all that you have to make sure is that people buy under your affiliate link.
3. Performance-Based rewards
With most other jobs, you could really be working 80 hours a week and still be earning the same salary but this is where affiliate marketing is different cause you actually do get paid by the hours of effort that you put in. Honing your writing skills and reviewing skills does indeed pay and once your business gets rolling, you may never have to worry about earning money.
The Truth About Affiliate Marketing
So, affiliate marketing really is an ideal solution for those people who are looking to expand upon their source of income or even those people who are getting into the online business market. So, although the success of the job depends upon affiliate marketing skills, which really can be honed upon by just about anyone. It can prove upon to be an effective way to meet our income goals as either a primary career or profitable part-time job.
You can really get all the insights and training needed to improve upon your affiliate skills if you join Wealthy Affiliate. You can just about get started for free and learn a lot more about affiliate marketing training, building your own website for free and managing your keywords.
You can check out my review of Wealthy Affiliate cause it most certainly has changed my life and I hope nothing more than to change your life and change the way you think about your job and really just show you how fun it can be to be engaged in an online community that really hopes for your best and is there to help you along your journey to making money online.