If you want a fresh change away from your job by starting your side hustle or if you just want to earn some money on the side, then you’ve probably thought a lot about how to do it. Affiliate marketing is one option for you if you want to start. But now, you’re wondering how much you can make with this method of income and if it’ll eventually be enough to get you out of your day job and allow you to work comfortably from home.
The good news is that you can earn enough to live comfortably with online affiliate marketing. But there are still things you should know to get the most out of affiliate marketing so that you can get the income that you aim for.
What is Affiliate Marketing?
First, you will want to know what affiliate marketing is. The term covers a marketing method in which vendors or merchants who sell a product or service use people outside of their marketing team to grow sales. With this process, advertisers use affiliates, also called publishers, to drive consumers to the merchants’ sites. They do this by providing links to the product or landing page of the merchants’ choice. Consumers will then click on the link and be encouraged to buy the product or service.
The goal of the affiliate is to help push consumers through the sales funnel by encouraging them to engage with the links. To help with this process, affiliate marketing comprises 4 parties which include the merchant who sells the product, the affiliate who promotes the product, the network or program that connects the merchant to the affiliate, and the consumer who buys the products. All groups work together in a cycle that helps everyone grow sales.
How Do You Earn Money with Affiliate Marketing?
So how do you gain a steady income through this marketing process? It’s quite simple. Your job as the affiliate or publisher is to simply promote the product of the merchant. You are the advertiser in this sense and you’re in charge of how you do it. The only thing you need is the URL to the landing page, store, or product in order to provide it to the consumers so they can go to the page and buy from the merchant.
You can promote on a social media post, a blog, podcast, or any other type of platform that allows you to give the link to readers. And when the consumer clicks on the link or buys the product from your link, you will gain a commission from the sale of the click.
Is Affiliate Marketing Profitable?
The simple answer is yes, it is! But you probably want a longer answer, right? In that case, I can tell you that affiliate marketing can be probably one of the most profitable methods on income online that you’ve never even thought about. The process has evolved and grown in the advertising space even within the last ten years.
According to Statistica, affiliate marketing is a multi-billion business with 8.2 billion dollars expected to be used on the marketing strategy by 2021. Because of the benefits of affiliate marketing, 80% of advertisers have turned to affiliates for growing a business's revenue. The profits that come with affiliate marketing will only grow as time goes on, so it’s perfectly profitable for you to join in today.
How Much Do Affiliate Marketers Make?
Although affiliate marketing is profitable for businesses, is it just as profitable for the publishers who spend their time promoting a merchant’s products? You’ll be happy to know that yes, it can be a very steady income, but only if you are successful with how you approach and promote your content along with the merchant’s product or service.
In the Forrest report commissioned by Rakuten, out of the 151 affiliate publishers they surveyed, over half of them stated that their annual revenue included over 20% from affiliate marketing.
Another report by AffStat wrote that from the affiliates that they surveyed, 35% of them reported that their annual revenue hit at least $20,000 from affiliate marketing. As you can see, affiliate marketing can be a great method of income if you eventually decide to change your career.
But you’re probably thinking, “These are successful affiliate publishers. Can I still have a good revenue without years of experience?” In short, the answer is yes, although it can vary. How much you make from affiliate marketing significantly depends on a few factors like your experience level. If you’re looking at the experience, then there are a few facts that you would want to know. You can get a good idea from Affise’s poll asking affiliates how much they make annually.
Beginners: For beginners, you can expect that you can start your affiliate marketing at a loss for a time. This is usually when you just started and may not be getting that many clicks or purchases from other readers and followers. Eventually, you can expect beginner affiliates to make around $300 a day or a little more depending on your niche and other factors.
Intermediates: When your experience as a publisher grows, you can then expect to earn up to $3,000 a day. But it seems like the average for is over $300 a day for someone of this level. Again, this also depends on many factors that can get you to the higher-end scale of this pay rate. But it’s possible with the best tactics in place.
Experts: Last, this is when you won’t have to always worry about how many products you’re promoting and how many links you can provide to your audience. Publishers at this scale can expect to be paid over $3,000/ day. From now on, you can get your annual income higher and higher with the right amount of traffic and profitable products that get the most clicks. You can get to this level with some confidence, a good strategy, and perseverance. Eventually, you can start making as much as the surveyed publishers do.
How Long Does It Take to Earn Money?
As you already know and I’ve already said, affiliate marketing and the success that can come from it can depend on a lot of different factors. Some of which we will tackle in this article soon. But for now, that you know what comprises affiliate marketing and knowing that it is indeed profitable for you to join in, you now want a general answer for how long it could take to get you from earning almost nothing as a beginner to gaining enough to pack your bags and get out of the daily office grind. Well, while that is very hard to say exactly how long, I can tell you it will take an average of a year or two to finally see a good amount of revenue coming in.
The primary reason for this is that you need a consistent audience to keep clicking into your links. And the only way for that to happen is if you grow your organic traffic to your platform, which can take quite a while to do. SEO is not an instant reward and consistency will be important here. Although that’s probably not what you wanted to hear, you can know that once you earn money from affiliate commissions, you’ll be able to see the money flow in consistently if you do it right.
Tips on How to Make the Most Money
So, if you want to start earning as soon as you can, there are a few factors and tips that I can give you that will help you get you over the hill to earning a good profit from affiliate marketing. You need a good amount of audience to your platforms to earn an income that can support you and your family. So, these are some tips and tricks that you should use no matter what if you ever want to grow your traffic.
1. Choose a Valuable Niche.
The first thing that will help you gain more revenue from affiliate marketing is to choose a profitable niche from the beginning. Not every niche will have products that your audience will be interested in. For example, you will get more traffic from having a tech blog than having a blog about miniatures. While there is an audience for both, the latter will have significantly less attention to it, thus, having fewer links and clicks for you to have a steady commission. So, what is the most profitable niche for affiliate marketing? AffStat reported that 81.4% of affiliates promote B2C products over B2B products and B2C services.
2. Choose the right product
Just like choosing the right niche, also choose a product that also profitable. In the same report as above, computers and electrics came in first with 40% of affiliates promoting something in this category. In second place were clothing and apparel products followed by online services, accessories, beauty, business, and marketing products and services.
You should also think about the commission percentage you get for each sale or click. Every company or advertiser will give a different amount depending on the niche and other factors. You don’t want to settle for a lower than usual percentage commission from sales. Thankfully, by looking at reputable companies and affiliate programs, you can be granted a good percentage even as a beginner.
3. Create Valuable Content
The number one rule for growing your platform for affiliate marketing is to provide your audience with valuable content. Your audience doesn’t want a rehash of the same content that they just consumed a day ago. With each new blog, video, or social post, make sure that you add something to it that makes it even more creative, engaging, or educational than the competition. If you can do this, then your reviews and promotions of an affiliate product will be seen by your followers as trustworthy and will entice them to click on your links and buy a product or service.
4. Share Your Content on Multiple Platforms
While creating valuable content for your audience is essential for growing your organic traffic and getting you closer to growing a sustainable income from affiliate marketing, you need to do more to your content. This one other thing that you can do is to share, share, and share! If you have one or more platforms that you use, then sharing your content that you posted on one can help you grow your organic traffic by a lot. For example, if you post a promotional link in a blog post, you can then distribute it into a social media post and link the product there too. That way, you’ll have a bigger chance for customers to see your links and click on them.
5. Choose the Best Affiliate Network
Finally, choosing which affiliate program network you work with is vital to how much earnings you get. There are a lot of networks out there such as Amazon marketplace, Google Affiliate Network, and ClickBank. Look to see which one you like the most. For example, ClickBank has commission rates up to 90%, while Amazon’s Affiliate program has special extra commissions for certain links that you can promote. Every one of these networks has its benefits, so make sure that you research the best one that would fit you.
Build Your Affiliate Income
You can earn a lot through affiliate programs. This method of advertising is not only profitable for advertisers and companies but also profitable for you. While it may not be an overnight success story to getting a high revenue, if you know how to leverage your platforms and speak to the customers who click the links, then you can eventually have a job where you can lay back and watch the money roll in on its own.
Keep these tips on how to become successful as an affiliate marketer and don’t forget that you can sign up for Social Media Calendar’s affiliate program and earn up to 35% of commissions for every sale. Take the next steps to start your career to become a super affiliate.