So, you've finally dipped your toes into the world of online business. You dove right in, focusing on the field of Affiliate Marketing. It's going ok. You have earned small commissions here and there but nowhere near the income, you'd like to make. Where's all this passive income you heard of? Well, Affiliate Marketing for Beginners, can be overwhelming at times. It can be a long road to breaking the code and learning how to make a passive income online.
In this post, I am going to go over some of the best ways a beginner can earn a passive income in affiliate marketing. I'll give you some of the ins and outs, what works and what doesn't. By the end of this post, you'll have a better understanding of how to make a passive income in affiliate marketing. So let's get started!
What is Affiliate Marketing? – Affiliate Marketing for Beginners
Affiliate marketing is the process of earning a commission by promoting other people's (or company's) products. You find a product you like, promote it to others, and earn a piece of the profit for each sale that you make.
For example, let's say I have a website about veganism. And I come across an online store that sells vegan-friendly clothing. I could sign up to be an affiliate for this store, and every time someone clicks on my special link to the store and makes a purchase, I would earn a commission.
The great thing about affiliate marketing is that you can do it passively. This means that you can earn money while you sleep! You don't need to be constantly working hard like you would if you were running your own business. Once you set up the initial work, it can be pretty hands-off.
Now that we've gone over what affiliate marketing is and how it works, let's talk about how to make a passive income from it.
How Does Passive Income Work?
The concept of passive income is pretty simple. It's when you earn money without having to do any active work. For example, if you invest in a stock that pays dividends, you will receive payments every quarter without having to do anything else.
Another great example is a rental property. Once you buy a property and find tenants, you will receive monthly payments without having to do any work. The only thing you need to do is make sure the property is well-maintained and the tenants are happy.
So in essence, a passive income is something like planting a seed. You plant it and let it grow, but you must be sure to water it to keep it growing.
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Why Affiliate Marketing is the Best Way to Make a Passive Income
There are many reasons why affiliate marketing is the best way to make a passive income. But here are some of the most important ones:
- You don't need your own products or services, and you can start promoting right away with just a website.
- This business model is the perfect solution for those who want to make money without working themselves ragged. All you need are some affiliate links, and once they're set up your website can earn passive income while you sleep.
- Affiliate marketing is a fantastic way of building an online business. If you eventually want to create your own products or services, this website can be used as the platform for promoting them.
Now that we've gone over some of the reasons why affiliate marketing is the best way to make a passive income, let's talk about how to get started.
Getting Started with Affiliate Marketing
The first step to getting started with affiliate marketing is to find a product or service that you want to promote. There are millions of products and services out there, so you shouldn't have any trouble finding one that you're interested in.
Once you've found a product or service that you want to promote, the next step is to sign up for an affiliate program. This is where you will be given your special affiliate link to promote the product.
Most companies have their own affiliate programs. And you can usually find them by doing a quick Google search. For example, if you want to promote Vegan-Friendly Clothing, you could search for “Vegan-Friendly Clothing affiliate program.”
Once you've found the affiliate program, the next step is to sign up and get your affiliate link.
Then, you can start promoting the product on your website or blog. You can also promote the product on social media, on your YouTube channel, or by emailing your email list.
Methods and Strategies that Will Create a Passive Income
Now, you can use the basic method of affiliate marketing by promoting your affiliate links as I explained earlier. However, this will only get you so far. Sure, you'll get commissions coming in, but the odds are that it won't be enough to give you a livable income.
As a beginner affiliate marketer you'll want to broaden your commission opportunities and think big.
How do you do this? Don't worry I've got a few tips to help you.
Multiple Income Streams – Affiliate Marketing for Beginners
The first thing you need to do is create multiple income streams. This means that you shouldn't just be promoting one product, but multiple products from different companies and networks.
Not only does this allow you to make more money, but it also protects you in case one of your affiliate links gets shut down.
For example, let's say that you're only promoting one product and that product gets removed from the company's website. This means that you just lost your only source of income.
But, if you have multiple income streams, then even if one goes down, you'll still have others to rely on.
Diversify Your Income – Affiliate Marketing for Beginners
The second thing you need to do is diversify your income. This means that you shouldn't put all of your eggs in one basket.
Instead, you should be promoting different types of products such as physical goods, digital products, and services. By doing this, you'll be able to make money from a variety of sources.
For example, you could promote products from Amazon, Clickbank, and Commission Junction. Or you could promote digital products, physical goods, and services.
The options are endless!
Create a Sales Funnel – Affiliate Marketing for Beginners
The third thing you need to do is create a sales funnel. A sales funnel is a process that you take your customer through to make a sale.
The most common sales funnel is the AIDA model which stands for Attention, Interest, Desire, and Action.
- To create a sales funnel, you need to first get the attention of your customer. This can be done by creating compelling content or ads.
- Once you have their attention, you need to interest them in what you're selling. This can be done by providing more information about your product or service.
- Then, you need to create a desire for your product or service. This can be done by showing your customer how your product or service can benefit them.
- Finally, you need to get them to take action and buy your product or service. This can be done by providing a strong call to action.
By following these steps, you'll be able to create a sales funnel that will help you make more sales and earn a passive income.
Recurring Commissions – Affiliate Marketing for Beginners
The fourth thing you need to do is promote products that offer recurring commissions. This means that you'll earn a commission every time your customer pays their bill.
For example, let's say that you promote a hosting service that costs $100 per month. If you're promoting a product with a 40% recurring commission, then you'll earn $40 per month for every customer that you refer.
Not only will this help you make more money, but it will also help you build a long-term income stream.
High Ticket Products – Affiliate Marketing for Beginners
The fifth and final thing you need to do is promote high-ticket products. This means that you'll be promoting products that cost a lot of money.
For example, let's say that you promote a product that costs $2000 at a 50% commission rate. If you're able to make just one sale per month, then you'll be making $1000 per month.
But, if you're promoting a product that costs $100, at the same commission rate, then you'll need to make 20 sales per month to make the same amount of money.
As you can see, promoting high-ticket products is pretty much a no-brainer. Not only will you be able to make more money, but you'll also be able to do it with less effort.
Beginner Affiliate Marketers Need Guidance
Now, if you're a beginner, these methods might be a lot to take in.
And that's okay. The most important thing is that you get started and take action.
One of the best ways to get started is to join an affiliate marketing training program.
These programs will provide you with everything you need to get started and be successful.
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I've been a member of Wealthy Affiliate since 2016 and I can tell you that it's the best training program out there.
Not only will you get access to training, but you'll also get access to a community of like-minded individuals who are all working towards the same goal.
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I hope this post has helped show you how to make a passive income with affiliate marketing. If you have any questions, feel free to leave them in the comments below and I'll be happy to answer them.