So you want to make money online. Whether it’s to supplement your retirement income or replace a job, there are certainly many ways to do it.
You could enter e-commerce and drop shipping. You could dive into the creation of info-products. Maybe you’ve been thinking about local marketing consultancy, site building, SEO, and well… I could go on and on.
And while all of these methods can work, this wide range of options is precisely why most people get overwhelmed and end up taking no action!
This is the time when I usually tell people to keep it simple. Try a no / low-cost method that I consider to be one of the easiest ways to make money online… Affiliate Marketing.
Affiliate Marketing is suitable for both newbies and established digital entrepreneurs. Here are five reasons why it is worth investigating.
1. Initial cost from zero to low
Whether you’re on a tight budget or are starting from scratch, affiliate marketing is a strategy that doesn’t ask for much from the start.
The investment you will make will primarily be time, not money. Of course, for those who want to accelerate their ROI, you can always make a small investment in things that cost money – like paid tools and software, some advertising if you want – but it’s not a necessity to get started.
There are so many different business models to choose from, and when you are just starting out, you may not be sure which one fits your situation best, which one you will like best, or which one will allow you to make the profit you want.
When you find a strategy that is free or low cost, like affiliate marketing, your financial risk decreases. In fact, some business models require a huge initial investment, and therefore, not only are you wasting time and effort if it fails, but you are out of hundreds (or even thousands) of dollars.
Another great thing about the negligible upfront costs associated with affiliate marketing is that you can have the same success using 100% free promotional efforts as you can use a paid platform.
So let’s take a look at the minimum requirements.
It is always better to have a domain. You can find great deals on domains. For example, you can do a Google search for a coupon code for your favorite domain registrar like GoDaddy.
Just enter something like “Godaddy coupon” and then the month and year you are looking for. Sometimes this can bring the price of a domain from over $ 10 down to just a euro or two!
And the hosting isn’t great at all. Even Siteground, Bluehost, and Server plans have great deals – and you can get a plan that costs less than 10 Euros per month.
As for the creation of a website, there are many solutions available. There are outsourcers on Fiverr who will do just about anything online business, including full blogging setups for under $ 20. All you have to do then is log in with a username and password and start publishing content as an affiliate marketer.
Or, find instructions on how to install WordPress online for free and do it yourself.
You don’t even need sales experience to become a great affiliate. Your job is not to sell something to the customer but to recommend solutions and then let the sellers’ websites do the selling!
2. No product creation hassle to worry about
Creating a product can be daunting for new marketers. You have to learn all sorts of things – niche research, product creation, how to launch a website and create high converting sales copy, and more.
Plus, there are no production costs involved – like paying for graphics, launching on a paid platform, and paying for a tool that delivers your product to your target audience.
With affiliate marketing, you are not burdened with all these drawbacks. All you do is be the middleman.
This means you enter a niche by trying to bring buyers and sellers together. You are the link and mediator between the two. This can be just as rewarding as being the one who created the product.
So, for example, let’s look at how an affiliate marketer acts as a prime broker: Let’s say you’ve chosen the acne niche.
Your job as the creator of the product would be to provide a solution that helps people cure or treat their acne.
But if you are an affiliate, your job is to find people suffering from acne problems and point them in the right direction where they can find good help – salespeople.
The key to becoming a super affiliate is to build a subscriber list (there are free list-building tools until you can afford a paid one) and become their go-to person whenever they need advice—someone they can trust.
You’re not actually giving the advice – you can if you want to – but you’re just saying, “Oh do you need help with acne scars? I know the perfect product for this – here is the link”.
Of course, building a stronger relationship with your readers will increase conversions. If you take the time to review and maybe even implement products and share your results, this will help you convert even better.
When it comes to creating a product, you are limited in time and the creation process. It could take months to get a product from concept to completion.
But as an affiliate marketer, you can immediately start promoting from catalogs of hundreds of products on affiliate network platforms with a wide range of opportunities for your readers, and you will profit from all of them, not just one stream of income.
Many Affiliate Marketers have started with the Amazon Affiliate Marketing Program, which offers the ability to earn with Amazon by applying affiliate marketing strategies and techniques.
Plus, once you’ve started building a following, you can be among the first to recommend new solutions when they come to market.
3. Affiliate marketing allows you to go to many niches to test the profitability
Here is one of the best benefits of pursuing affiliate marketing: Diversity. You get to dive into dozens, maybe even hundreds of market niches and find products to advertise and see what works best for you.
You will come to determine:
- If it’s easy to compete in that niche.
- How much can you potentially earn.
- Whether you find it satisfactory or not.
All three of these factors are very important to your online success as an affiliate. Some niches will be harder to break into than others, so as an affiliate, you can test the waters to see how easy it is to dominate before buying a domain and investing time and money.
The potential earnings will be a cause for concern for you. If traffic comes in, but it’s hard to convert visitors into buyers, then you may prefer another target.
Personal satisfaction is the goal of this career path! Online marketing, in general, is about being your own boss – not having to pursue tasks and topics that don’t suit you.
As an affiliate marketer, you can dabble in many niches all at once – to get an idea of what satisfies you. You’ll likely hear a lot of keyword volume and competition advice – but it’s important to pay attention to which niches make you want to get out of bed early just so you can engage with your audience!
4. Affiliate marketing is easy to master quickly for newbies
A big advantage of affiliate marketing is its ease of use. A lot of people find it intimidating to jump into product creation because there are so many behind-the-scenes elements involved – including a lot of technical skills you need to know.
But as an affiliate, you’ll need to learn a few basics that are easy for any level of marketer, including things like:
Blogging is simple when you are on a free platform. Basically, you will choose a name and URL for your blog and start publishing posts. It is good to learn what people want in terms of blogging.
One of the biggest factors is personality. They want you to share insights, opinions, and advice with them. Blogs are a great place to review products and share your results, and they rank well in search engines.
If you are comfortable with videos, then you will want to start using YouTube and maybe embed them on your blog. In your videos, you can talk about niche problems and the solutions you recommend buying through your links.
Social marketing is all about sharing. You’ll use sites like Twitter, Facebook, Instagram, or Pinterest to share your blog posts and links to good products that you think will help your niche audience.
5. Your customer service is non-existent
One of the most time-consuming tasks when selling online is handling emails, customer inquiries, returns, complaints, etc. They may have download problems, need product clarification, or want more help.
As an affiliate, none of this is your problem. It’s all on the shoulders of the product creator. It’s their job to manage the customer once you send them there, so you can keep working on what matters most – converting new customers.
Affiliate marketing is right for everyone. Product creators also adopt an affiliate strategy to complement the product development branch of their business. It’s time for you to add a serious affiliate marketing plan to your online business too!