Nowadays there are several ways to generate passive income thanks to the internet and digitalization. One of those ways is affiliate marketing as it has become one of the most profitable techniques to generate passive income online.
Through affiliate marketing what you do is promote products or services of a third party for a commission. You may not believe it but thanks to marketplaces and e-commerce business this has become an amazing way to earn money.
If you are here it is because you want to know how it works as promoting digital products is a great way to start your own business, so keep reading to find out what is the process to make money with affiliate marketing.
What is affiliate marketing?
An affiliate is a person that shares or recommends products or services to other people for a commission. The affiliate uses marketing to promote the product or service and receives money every time he or she makes a sale.
To track how many people buy something from your referral, the affiliate program to which you subscribe generates a personal link for the product or service that you choose to promote. In this way every time somebody uses your link, they will know it was your effort and therefore your commission.
Where to start?
Step 1: Learn about Digital Marketing and how it works
To start working on the digital market you should know how it works and what actions you should make in order to be successful.
You should know how online sales work, what tools you could use to promote the product or service that you choose, who are your competitors, what are the trends and what would sell more in order to be more profitable for you?
It doesn’t matter if you are not an expert at the moment, you could still do great in affiliate marketing, but you need to know that you will be spending a lot of time learning about Digital Marketing while perfecting your sell technique.
Step 2: Define the niche market where you want to work
You should consider two main things when choosing your niche market. It should be something that is trending and something that you really like.
Just to be clear we do not mean by any ways that if it’s not trending you will not be selling, not at all, because it depends on your actions and selling techniques. Still if you are just starting it would be easier for you to find people interested in the product or service if it is trending.
On the other hand, if you choose something that you like, it’s your hobby or you are passionate about, it would be easier for you to promote your product or service as you already dominate this specific topic.
Step 3: Select an affiliate program that satisfy your needs
Once you choose your niche market and start learning about digital marketing you have to take the next step: select the affiliate program that works best for you. In order to do that you should consider the following.
Does it align with the platform you have?
If you already have a website, blog or social media you need to know if the products or services offered in the affiliate program aligns with the topics you already share in those platforms and if it makes sense.
Keep in mind that this will lead to credibility, for example, if you offer desserts when you talk about weight loss it will make no sense.
Does it have a good reputation?
Google the products or services that you will be promoting and read the reviews. You have to make sure that you are offering good things, otherwise you will be perceived as a scammer.
On the other hand, if you offer high quality products or services people will come back to you for more.
Does it offer good commissions?
A good commission is a deciding factor when it comes to selecting an affiliate program.
Also, you should know when you will be able to withdraw your earnings and if it works with your local banks. If it doesn’t it will make no sense choosing this specific program, the best thing you could do is keep looking until you find the one that suits you best.
Where to find affiliate programs?
The following programs are the best and more popular ones in 2020:
What are other things you should keep in mind?
- Variety of products.
- Reach, where you will be able to sell? Is it worldwide?
- Advertising materials offered by the program.
- Flexibility to create your own campaigns.
- Real time reports to track your efforts.
Step 4: Choose a product
Choose a product that adds value to the buyer, do not think just on the commissions, think about selling something good, valuable and that lets you have a lasting and profitable business.
Do not forget to choose a product or service that you rely on, the best practice would be to try it before offering it to the public, in this way you will make sure that this specific product or service has good quality and it’s worth selling.
Step 5: Start earning money
When you put your plan in action and start promoting the products or services that you choose you will start seeing the first results. If it goes well, you can start thinking about offering more products either from the same affiliate program or you can try with new ones to see which one works better.
As you see anyone can promote products online in order to make money. The conditions are that you have to be willing to learn more about digital marketing and develop your sales techniques.
Remember that promoting digital products, with a good digital strategy, is a great way to make passive income from any part of the world.
This post is also available in: Español