Thousands of people claim they know how to get rich quickly. We know you have most likely been pitched Forex trading, Bitcoin and cryptocurrency, real estate hacking, and other costly, high-risk ventures. What these people do not realize is you do not have to reinvent the wheel to fund your retirement, make money independent of your time, and no longer have to live in survival mode.

In this post we will explain why affiliate marketing is one of the best passive income sources you can set up for yourself, due to low upfront cost, its evergreen life span, and ongoing significance in how we shop online.

 

The concept of affiliate marketing is when an individual earns a performance-based income, dependent on how much of someone else’s product they can sell. Affiliate marketing for companies was patented in 1989, as a modern twist on the traditional salesman selling door-to-door for his commission. This process is far easier online, allowing you to reach a much larger audience without having to physically show up anywhere.

 

In short, the process is as follows.

1.     An affiliate posts online to share a new journal she purchased. She includes a web link that, when clicked, leads directly to the journal store.

2.     A social media user sees the affiliate’s post. They like the journal and click the weblink to learn more.

3.     The user decides to purchase the journal for $25 from the website.

4.     As a reward for bringing a $25 sale to the journal store through the personalized affiliate link, the store pays the affiliate a 2% commission. The store and the affiliate both benefit.

Some partners pay affiliates in the form of store rewards, such as discounts or gift cards, while others pay in cold hard cash. Regardless, the affiliate price is at no extra cost to the buyer.

 

The short answer is yes! Many affiliate programs have a low barrier to entry, not requiring prior experience before joining their network.

A unique advantage of affiliate marketing is the scalability and flexibility for a variety of sellers. Some affiliates may only be able to recruit 10 sales a year, while large affiliate marketing operators can secure 10 sales in an hour. You can commit as much, or as little, resources as you would like. This is the beauty of affiliate marketing, that you can tailor your results to your situation and still succeed in the affiliate marketing space.

 

The advantages of affiliate marketing are far superior to other hot-topic income sources like dropshipping. As the affiliate, your only responsibility is to promote and sell. You are off the hook for buying inventory, brainstorming product ideas, angry customer service emails, or driving to the post office. Your time belongs to you, so you can enjoy the freedom from managing the day-to-day operations. Your job is to market the product however you wish.

Second, affiliate marketing can be passive. By including affiliate links in eBooks, blog posts, and other resources, your affiliate links will continue to be viewed by others regardless of your ongoing time input. While there is upfront work to get started, affiliate marketing for companies is a long-term passive income opportunity. This means making money while you sleep, after your hard work has paid off. Think of it as writing a book, getting paid over and over for the upfront work.

The only downside to affiliate marketing for beginners is that affiliates only receive a marginal commission on every sale. Most affiliate programs pay anywhere between 2-10% of the total order, which can seem underwhelmingly low. However, remember that this return comes at less risk and a far lower time commitment. The trade-off is worth the low-maintenance nature of affiliate marketing for companies, so use it to your advantage.

 

Due to the scalability of affiliate marketing for companies, and the large variety of networks to choose from, income ranges can vary from person to person. Some use affiliate marketing as a small but significant boost to their income, bringing in $50 every now and then. Some of the most renowned affiliate marketers earn six figure salaries a year! You can earn a little, a lot, or anywhere in between. It all comes down to the programs, products, and upfront work that you choose for yourself.

Before joining an affiliate program, check the commission percentage and the average price point of a product you would promote. Since affiliate marketing can vary greatly between different programs, it is important to have realistic expectations for your affiliate revenue.

 

There is no limit to the amount of affiliate networks available online. Some of the most popular are for major companies such as Amazon, Target, and Etsy. Affiliate networks are not always tied to one store. For example, Clickbank connects future affiliate marketing beginners with thousands of independent products to be sold.

 

One of the cheapest and easiest ways for beginners to promote affiliate marketing is through your social media audience. Continue to grow a following and build an audience to promote to.

When conducting affiliate marketing for companies, evaluate all the contacts you already have in a certain niche. Perhaps you have an email list of everyone who has bought a handmade dog collar from your Etsy store, and you can start an email campaign with affiliate links to dog bandanas. Think about grabbing the low-hanging fruit of customer connections.

Once you have built your audience, the next step to get started is joining a network. We have provided more details below on popular affiliate marketing networks. Before suggesting the largest affiliate programs, here is why the opportunity of affiliate marketing for beginners is undoubtedly a great fit for your next income source.

 

 

Affiliate marketing is not always easy, and it is not a “get rich overnight” path, either. Everything worth having will come at a cost. The reality is that you can continue at your 9-5, stuck in a job you truly do not see a future in, or take control of your career and start building a new income source immediately.

 

Rather than brave this new journey from scratch all by yourself, learn from someone who has been in your shoes before! We are an experienced affiliate marketing company network here to help you every step of the way.

 

Remember. the more time you let pass before you think you are ready, the more money you are leaving on the table. Why wait before getting started in affiliate marketing?