What is Affiliate Marketing?
In a nutshell, affiliate marketing is the business model that will allow you to sell products online (both physical and digital) that other people have created.
Your compensation for this would be an “affiliate commission”, which is usually a percentage on the “final sale”.
Affiliate commissions vary from one industry to another with affiliate commissions in the physical product industry ranging from 5 to 20% and for digital products being anywhere from 10% up to even 70% and more.
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Pros & Cons Of Affiliate Marketing
- Easy to get started.
- Very low-cost business.
- Unlimited earning potential.
- 1000s of different niches and industries.
- Work from anywhere in the world.
- Long term passive income.
- Requires patience and dedication to make it work (6 to 12 months).
Affiliate Marketing FAQs
How Much Does It Cost To Get Started With Affiliate Marketing?
As mentioned above, one of the best things about affiliate marketing is the low start-up costs. To do affiliate marketing, you only need a website. This costs around $15 a year for a domain name and a $10 per month hosting fee. However, you can get free hosting as a premium member of Wealthy Affiliate.
Do I Need To Be An Expert In My Niche?
Many people think they need to be some computer expert or a top-level marketer to get started. This is not true at all. Online readers looking for information on a certain topic/product would more often than not prefer an “average Joe” point of view rather than some expert.
What Kind of Products Make The Most Money With Affiliate Marketing?
While there are certainly niches and products that offer a higher percentage rate (such as online tools, software, etc..), your best bet at having an enjoyable long-term affiliate marketing business plan is to create your affiliate business in a topic you personally like and enjoy. No niche is too small when you have 4 billion people on the internet.
How Long Before I Can Make A Full-Time Income Online?
While there are exceptions to the norm, you are going to need at least 6 to 12 months before you make any life-changing money. This does not mean that you will not be earning money before that, but any “quit your job” level of income does require a few months upon to a year to achieve.
The Best Way To Learn Affiliate Marketing
If you’ve had a read through this blog, you may have realized that I try to direct many affiliate marketing hopefuls to the Wealthy Affiliate training course.
Wealthy Affiliate is how I learned affiliate marketing and it’s thanks to the incredible, easy-to-follow and understand video training guides that I can now sit here and run my affiliate marketing business full-time.
It’s free to get started with, over 1,400,000 affiliates have gone through the training and produced countless of successful affiliate marketers in its 10 years + history.
Tools & Resources Needed For Affiliate Marketing
A niche (topic): It’s always best to focus on one specific niche (blog topic) when it comes to affiliate marketing, this is because the more “focused” you are on a topic, the higher the chance if being recognized as the go-to source for information. Before you attempt affiliate marketing, you really must have a niche in mind so if you do not have one yet, you can see my niche picking guide here.
A WordPress Website: There are plenty of website-builders out there but I highly recommended you get on WordPress. It’s the most used platform and the power, efficiency and simplicity of a WordPress website is unmatched. You may also like to know that a WordPress website is free as well. Many domain and hosting providers offer “one-click” installs with every domain purchase. You can also get a 100% free WordPress website from SiteRubix.
An Affiliate Program: Of course, to do affiliate marketing, you are going to need to be part of an affiliate program that sells products in your niche. They are free to join and just about every online entirety has an affiliate program these days. I have published many “affiliate program round-up guides” in a wide variety of different niches if you’d like to see what options are there.