Affiliate marketing isn’t a new idea, but it’s become much more lucrative thanks to a little thing called the internet. We take a look at this booming industry.
Affiliate marketing has changed over the years
Once upon a time, you might have gotten paid for product placement or advertisement on your storefront. Now, websites often see more traffic than brick-and-mortar businesses, so it’s only natural that affiliate marketing has progressed.
The best part is that affiliate marketing has become more accessible to the masses. Referral bonuses used to be the only way ordinary people could earn a passive income through this type of advertising, but now almost every major company offers a monetary perk for sales made through other websites.
Anyone (yes, even you) can learn to drive traffic and quit their day job.
Different avenues when entering the world of affiliate marketing
You may have heard the term “influencer” before. This is someone who has established themselves as a voice (not necessarily an expert) in a particular niche. They have a large following, and marketing departments haven’t missed the opportunity to use them to their advantage.
Lele Pons has over 49 million followers on Instagram and makes approximately $180,000 per sponsored post from companies like Budweiser, Google, and Covergirl. Do you have to be an influencer to be a successful affiliate marketer? In a way, yes. But you don’t have to be Instafamous; you just have to love your topic of choice and be willing to make regular, high-quality content through social media, blogs, and/or video.
How does affiliate marketing work?
Affiliate marketers share product links and earn commissions from merchants every time someone clicks and buys. Amazon.com offers up to ten percent commission through their affiliate program, though the amount depends on product category. Auction site eBay offers up to four percent commission with a cap of $550.
How might affiliate marketing look on your platform?
YouTube/TikTok – Make an appealing video, reference a product or item in your content, and let viewers know they can learn more by clicking a link in the description. That link will be the affiliate link, which means you get money if they click and buy.
Social Media – Social media is fun because sometimes merchants come to you. You can always try to create popular tweets, Facebook posts, Instagram posts, or Reddit posts and include an affiliate link. However, if you make a viral Tweet, someone will inevitably slide into your DMs and ask if you’ll add a buy link to a lamp in exchange for payment.
Blogs – If you can create original, shareable blog content, you can make quite a bit of cash from affiliate marketing. YouTube and social media platforms utilize search engine optimization to some degree, but content writing is where SEO shines. Use SEO to drive traffic to your blog and get those clicks. Sites like NerdSimple use recommended tech related products and services as their affiliate driven revenue stream.
You can probably see why we recommend creating an affiliate marketing strategy around something that interests you. Affiliate marketing requires you to make content that people actually want to view or read on a regular basis, and that’s nearly impossible if you aren’t interested in the topic.
Can I really make a career out of affiliate marketing?
It might be hard to believe you can make a comfortable living by convincing people to buy a few products, but it has been and will continue to be done. Pat Flynn, Missy Ward, and Zac Johnson are all people who have made affiliate marketing their full-time career.
You could be next!