There are numerous legitimate ways in which you can build a full business that you can earn money online with, such as: Internet Marketing (Make Money Online Program, Sell your own product, Blogging & Affiliate Marketing), MLM (Network Marketing), Stock Market, Relevant advertisers, etc …
AFFILIATE MARKETING is one of these ways. It is also one of the most easy and the most low cost way for generating a considerable amount of revenue and actually one of the most popular forms of business in the internet marketing world.
What is online Affiliate Marketing?
Affiliate marketing is a type or model of performance-based marketing wherein you as an Affiliate help a Merchant’s business by promoting their products/services on your website. Someone (would be Customer) who visits your website can follow your affiliate-link that refers them to the Merchant’s site. If they buy (a conversion), you earn a commission.
Basicly Online Affiliate Marketing has three core parties:
The Merchant (Creator, Vendor, Seller, Retailer): The party (a company or a person) behind an affiliate marketing program, that sells the product/service advertised on their website and pays a percentage of the total sale cost as a commision to the Affiliate for their promoting efforts when a sales transaction occur.
The Affiliate (Affiliate Marketer, Publisher): The party (a company or a person) who promotes one or multiple affiliate products/services of the Merchant, by running a review blog or website and earns a commission on each sale they generate.
The Customer (Buyer, Consumer, Audience): The party (a company or a person) who goes to the Affiliate’s website that promotes the Merchant’s products/services and click at an affiliate-link at the Affiliate’s website. This link will take them to the Merchant’s site. If they buy, the Affiliate gets a commission.
So what you are doing as an Affiliate Marketer is: you’re helping the Merchant promote their products/services and getting a commission of the sales that you helped to generate.
In simple terms, an Affiliate marketer is a middle person between the Seller (Merchant) and the Buyer (Customer).
That’s awesome, because there are LOTs of people/ companies on the internet who have products/services that they want to offer, but might need your help to promote their products/services.
On the other hand , billions of people (the audience) out there go to Google (or other search engines like Yahoo and Bing) at any moment looking for help, searching for informations on products/services they need, and eventually are willing to spend billions of dollars online, buying things throughout the year.
That’s where you can fit in and get into business … You can become an Affiliate Marketer to help them out, offering them the informations they needed and earning revenue as a result. You can earn money online from definitely every single niche … there are tremendous opportunities for you all around the internet world, as there are millions of groups of people in every place the world over.
To do this however, you’ll first need to create your own website in a niche of your own choice, write content and work on it to get traffic to your niche-website. Without a website. without content, and without traffic, the money will NOT happen!
Here is where you need to go to the Getting Started training of Wealthy Affiliate and have your own “niche”-website set up that you will use to connect with your chosen audience
What Is A Niche?
We actually are involved with all kinds of different niches every day, but many newbies fail to understand this simple fact. They are very much confused and still struggling in finding a “niche” as they do not know what that word means??
In simple terms, a “NICHE” is a group of people or an audience, interested in anything very specific that they can think of. It could be something that they like, they enjoy and they want to learn about (a passion, a hobby, an interest, a need or a problem, you name it).
Anything you can think of, that you are passionate about or are interested in, can be considered as a “niche”.
When you have selected a “niche” that you want to build your affiliate marketing business on, be sure to avoid being too broad, because if it is too broad, then it’s going to be difficult to connect to your audience. You will have to dig into it a bit and break/narrow your broad “niche” down to a more focused/targeted specific group of people /“sub-niche”…
There after you can effectively start making money within this smaller “sub-niche” market. Understand that there are MILLIONS of people within every niche (sub-niche) you can imagine or think of, there are opportunities absolutely everywhere you look.
In order to effectively make money within a broad “niche” you’ll have to first break/narrow it down to a more focussed/targeted specific “sub niche”.
I’ll give you one example :
Let’s say that you’re interested in “HEALTH” (one of the 3 most profitable niches for Affiliate Marketing, besides Wealth and Romance J) … Then, health would then be your “niche”, but health could just be anything related to health. It is definitely TOO BROAD a thing. Actually there are thousands of “sub-niches” within the broad “niche” of health.
People are looking for something more smaller, more specific than a broad thing like “health”, so you’ll have search for it’s “sub-niches” . Just to name a few, for instance :
- High Blood Pressure
- Back pain.
- Hair loss
- And so on …
These are some of the more focussed/targeted “sub-niches” within the broad niche of health, and millions of people are looking in the internet for these kind of “sub-niches”.
All you need to do is identifying the needs, the wants, and requirements of other people, pick one of them and you have yourself a “niche” and a very big group of people like minded.
Other than Health, you can look for all kind of niches at :
Click on the Departments’ drop down (top left).
And choose your niche
Any niche can become a full time and successful business for you, so do not worry, there is no such thing like choosing the wrong niche.
Affiliate Program & Link
Affiliate Programs can be found in market and product category that exists today; there are thousands of them and they are free to join. Whatever niche you choose, there will always be relevant programs for you to align with.
To become an Affiliate (Marketer), you have to firstly join an Affiliate Program of the person/company that supplies a product/service.
The Affiliate’s niche should be somehow in line with the Merchant’s product’s or service’s niche.
To look for Affiliate Programs you can type : affiliate program “your niche” at www.google.com (or other search engines). Example : Affiliate program “high blood pressure”
You will then be given an specific affiliate- link that you must use when promoting the Merchant’s product/service on your website.
Affiliate-links are customized urls (web addresses), given only to you, so Merchants can keep track of who brought them sales. It is somekind of a tracking mechanism.
Example: Several Affiliates can promote the same Merchant’s product/service, but each of them will have a slightly different Affiliate link.
If you are completely new to internet marketing I would suggest that you start out with affiliate marketing …
Eventhough suitable for beginners, please don’t underestimate this model of business, because it’s a great place to start earning online income fast … A successful Affiliate Marketer can earn a LOT of commissions that will pay them over and over again (likely hundreds or even thousands of dollars per month) when done in the right way.
What Does An Affiliate Marketer Actually Do?
REVIEWS will become a critical component of your website’s success. As an affiliate marketer, you are going to be creating reviews promoting the Merchant’s product/service on your website and be delivering them to a captive audience within the Internet. It is going to allow you to recommend to your audience which products are effective, and which are not effective that they should better avoid. You will become an expert with keyword research and come up with search terms that people type into search engines.
There are many affiliate programs out there that you will be able to take advantage of. Reviewing, promoting and recommending many different products/services is going to happen through time to create multiple streams of income.
People will spend hours and hours looking for a first-class review that can forward them to one direction or another. If you know how to create a thorough and insightful review of a product/service, you are going to accelerate the decision process and you can drive a lot of traffic to your business, and convert a lot of prospective buyers into real buyers.
Here is a scheme of the process, from choosing a niche to the money.
The Pros and Cons
Like any other business models, so does Affiliate Marketing has it’s Pros and Cons …
- Start Quickly – No licence needed, No production costs. (You don’t need to create or have a product/service of your own). No Inventory, No Employees, No Customer Service, No Packing and Shipping … This is great, because it allows you to get started quickly, without the overhead of product creation like most off line businesses do in order to get started. All you need is a laptop that operates well.
- Work from Home – No more strict working hours, No more meetings, you can work in flexible way from the very comforts of your own home or ANYWHERE else in the world, as long there is electricity and a good internet connection.
- Earn Money from Every Single Niche – You can promote whatever niche (an interest, a passion, a hobby, a problem, a need or a want) that you are most interested in, because there are billions of people online looking (searching) for information or products all the time (every day).
- Possibility of Passive Income – You have a business that operates 24/7/365, even when you’re on holidays or when you are sleeping.
- Possibility of a huge income – Be realistic, but be also unrealistic. What if you could get 50 referrals by next year…what about 100…or 200…. or even a 500?
- Small risk – Whenever you failed to earn something from a product, you can just leave it there, you’re not obligated to remain an affiliate for a product that doesn’t sell. Simply start looking again for another product to promote.
- High Competition – You maybe competing against other affiliate marketers (promoting the exact same product) especially in the SEO field (However, you can succeed by picking low-competition keywords that have some sorts of commercial value)
- Failure – Possibility of failure (but, you can maximize your chances of success just by going after low competition keywords)
- Maintenance – You will need some efforts of maintenance, by continually updating your site with new contents like articles or video tutorials just to show the search engines that your site is alive. (promote a good product(s) via your site, YouTube, Facebook, and you’ll have a solid SE presence).
- Policy Change – Merchant/Vendor whose product(s)/service(s) you’re promoting suddenly change their program’s policy for strategic reasons, like reducing their commissions fee to be more competitive, or even stops their affiliate program, after you have sent quite a lot of visitors to their site.
- Affiliate Marketing Scams – Carefully research the merchant’s site before joining a program.
- No Customer Database – You’re sending visitors (would be customers) to the merchant’s website, but you’re not building or expanding your own customer database (Name, Email) yourself. It’s very important for a long term business to have a customer database, so you can promote other product(s)/service(s) to them as well.
If by any chance you as a fresh newbie still cannot come up with a niche to align with it’s relevant affiliate program up to this moment, maybe you could be interested in one that is already chosen for you. Go through the Affiliate Bootcamp promoting Wealthy Affiliate, and let this be your niche then.
Make your commitment today, and you are going to be seeing awesome results. With some hard work and dedication you can truly create a longterm and successful business. You can achieve amazing success in the year ahead … A year is a like a blink of time and before you know it, by next year you can become an authority online having your own business promoting Wealthy Affiliate and be making commissions every day with an earning potential of $3,000-$10,000 per month (Phase 1 – Lesson 10).
Any questions about Affiliate Marketing? Please leave a comment below …