For many of us doing affiliate marketing, we are always amazed at how often we are asked what it is. Now, I know that this has been written about 1000 times before, but since people still ask, I thought I would add my two penneth worth with the bonus of explaining why I think you should do affiliate marketing if you haven’t started yet.
What Is Affiliate Marketing
Explaining that an affiliate marketer is someone who sells other people’s products is like saying a teacher teaches kids or a doctor cures people. All the above may be accurate, but a teacher is so much more than someone who imparts knowledge, a doctor is not just a person who fixes people’s aches and pains, and an affiliate marketer is much more than someone who flogs someone else’s stuff.
I should point out that I’m not comparing an affiliate marketer with a doctor in any other way; doctors are much more intelligent than we affiliate marketers. S, what does an affiliate marketer do then?
We Sell Other People’s Goods and Services
Yes, without question, we sell products that belong to other people for which we get paid a commission. That is how it started many, many years ago and we still do that. And don’t think that affiliate marketing is only online; it has been going on for decades in the real world. Let me give you some examples.
When was the last time you had someone knock on your door trying to sell you something? It might have been double glazing if you live in colder climes. Maybe it was someone selling insurance as I did many years ago. Perhaps you were walking around the mall, and someone tried to sell you plastic heroin, as I like to call credit cards.
The chances are that all those people were working on commission only. When I used to sell insurance, I once made about $3000 with one sale. Double glazing salespeople can earn thousands if they’re good at their job. The world’s best insurance salespeople earn $100,000s a year. And the highest paid affiliate marketer? He earned $7 million last year (2018).
How Do I Make Money with Affiliate Marketing?
There are two basic ways to earn with affiliate marketing – one-off payments and recurring payments. Let’s look at the difference and why you should forget one-off payments and concentrate on recurring commissions, even if you don’t sell as many goods or services each month.
If you promote something that pays $50 once, you get paid once, which means whatever process you went through to get that payment, you’ll need to do again and again and again. If you promote something that costs $50 a month, and it pays you 50% commission each month, you get $25 a month, every month, for doing absolutely nothing. Let’s look at the difference below:
One-time payment per month:
1 – Recruit 10 people at $50 each = $500 (100% commission on first sale.)
2 – Recruit 10 people at $50 each = $500
3 – Recruit 10 people at $50 each = $500
4 – Recruit 10 people at $50 each = $500
5 – Recruit 10 people at $50 each = $500
6 – Recruit 10 people at $50 each = $500
Total earnings = $3000
Total future earnings per month with no more work = $0
1 – Recruit 10 people at $50 each = $250 (50% commission)
2 – Recruit 10 people at $50 each = $250 + $250 = $500
3 – Recruit 10 people at $50 each = $250 + $500 = $750
4 – Recruit 10 people at $50 each = $250 + $750 = $1000
5 – Recruit 10 people at $50 each = $250 + $1000 = $1250
6 – Recruit 10 people at $50 each = $250 + $1250 = $1500
Total earnings = $5250
Total future earnings per month with no more work = $1500
I know this is a bit of a simple example as I am not allowing for people ending their monthly subscription, and getting 10 people signing up a month when just starting out is almost impossible, but the basic principle holds true.
How Much Can You Earn from Affiliate Marketing?
Now you’re thinking to yourself, “Wow! So, how much can I earn then?” Okay, so first of all, calm down. Let’s be realistic, the $7 million I mentioned above is an extraordinary amount of money, and you’re probably not going to get anywhere close. However, as you can see from the above, you can make good money.
However, I have some sobering news which may well stop you reading here. 95% of people who try to make money online fail miserably, so how can you succeed when so many others fail. There are three things you need to remember, or at least be aware of.
You need to invest in your new career. You wouldn’t expect to start any new business without proper training, why should affiliate marketing be different?
You need to be prepared to work at it for a reasonable amount of time without making big money. Affiliate marketing takes time. It’s not a get-rich-quick scheme.
Perseverance is the biggest secret to success, no matter what you choose to do in life. You know affiliate marketing works, so follow the training, don’t give up, and you will succeed. However, I do have some excellent news.
If you can learn to follow simple instructions, be patient when you realise you’re not earning $1000s after the second week, and keep going when you understand you’re not going to be earning $1000s in six months either, you are almost guaranteed to make money.
What Are the Steps to Becoming an Affiliate Marketer
You see, it really is that simple. The science behind affiliate marketing has been proven time and time again. Many newbie marketers make the mistake of complicating things when the formula is so simple a child could do it. Here are the seven steps needed to become an affiliate marketer.
– Find a good, evergreen niche
– Buy domain
– Install WordPress
– Start writing
– Add affiliate links
– Watch money come rolling in
– Move to Bali
As I said, it really is that simple. Okay, I admit, it’s not quite as simple as that. There are a few more things you need to think about, and some of these are repeats of the three words above:
Decide what you’re going to do:
This takes research, a lot of thinking, and even more planning. Decide what type of business you want to create. For example, you see a lot about drop shipping online, and it is a great business, but it takes some significant skills and understanding how making money online works in the first place. It’s a great business model but not the first one I’d recommend.
Stick with your decision:
Once you have decided on a business model, stick with it. You’re not going to be making good money immediately. If you’re fortunate, it might take you only a few months. However, it might take six months, a year, or even longer. It doesn’t matter. As long as you’re doing something that you know works, e.g. affiliate marketing (see bio), then you will succeed if you just keep going.
This, in itself, can be difficult. You have no one expecting you to start work at a specific time; you can work when you want. The problem here is that many people need someone to push them into doing something. If you aren’t someone who can do the work independently of others, this could be a problem.
Learn how NOT to multitask:
Multitasking has been proven to be a great way to waste time and do work poorly. Unfortunately, most people, when they first start working online, do too many jobs at the same time, confusing being busy with working hard. You have to learn how to be organised your work and once you start a job, finish it before moving on to the next one.
Planning your day:
You CANNOT just wake up and say to yourself, “What shall I do today?” You must learn how to plan out your day, preferably the night before. As a small example, when will you do your email management? When you get up? After lunch? In the evening when you’ve done all the essential stuff? You don’t want to keep checking your email throughout the day. It’s distracting and wasting precious minutes.
Most people give up trying to make money online when they realise they’re not going to retire the following month. Do you understand that to make money online is a commitment? It is not easy money like you seem to think. However, once you are earning good money, it becomes a lot easier to make even better money, but that will come later.
I think I have drummed it into you that while affiliate marketing is not particularly difficult, your success is based on how much work you do. But if you remember, I said right at the beginning that affiliate marketers are not just salespeople. So, what else do they do?
When you go onto a website, at some point you’ll meet a pop up saying, “Hey, Wanna get my top 10 tips for making money online? Then sign up for my mailing list.” An email list is like money in the bank for
Every person you have on your list is worth $1 per person per month. Imagine that in a month, you manage to sign up 100 people; that is $100 each month. If you get 1000 people on your list in a year, that’s $1000 a month. If you get 10,000 on your list, that’s $10,000 a month.
That’s why affiliate marketers look at their email lists as money in the bank. If you’re poor one month, unlikely I know but bear with me, all you have to do is send out a quick email promoting the latest make money online program, newest diet, or pet treat and you’ll have $1000s in the bank of the next week or so. Pretty cool, right?
Affiliate commissions and email marketing aren’t the only way to earn money. Google Adsense is another great money earner. Well, it is if you have enough visitors, and you really have to have 1000s and 1000s each month to make it worth your while. However, it all adds up when it comes to money in the bank.
The only thing I would say is that you need to be careful when using Adsense. Not only is Google extremely fussy about clicks, you’ll lose hundreds or even thousands because Google will claim the clicks are fake, but they’re equally quick to cancel accounts altogether. If they do that, any earnings you have in Google will be lost.
If an affiliate has a successful website, with thousands of visitors a day, they will start getting requests from other affiliate marketers to put banners on their site. Getting paid for putting other people’s banners on your website is a lovely way to get extra money.
Of course, once an affiliate marketer becomes successful, he then wants to develop courses to sell to other people who want to become affiliate marketers. So now, the affiliate marketer has become an email marketer, Google Adsense earner, advertiser, and affiliate marketing consultant.
That’s what I meant when I said that affiliate marketers are so much more than just people who flog other people’s stuff. Of course, the reason why affiliate marketers do everything they do is to maximise their earnings.
Still interested in becoming an affiliate marketer? Of course, you are, but to do all of the above correctly, I strongly recommend you buy yourself a course so that you can do all the above as quickly as possible. On this blog, I am promoting ClickBank University.
ClickBank University was developed by the people who made ClickBank what it is today. All the instructors are seven or eight-figure earners, who have forgotten more about affiliate marketing than I will ever know. There is no better course to learn how to do affiliate marketing and at less than $50 a month, it really is a steal.