What Is It?
Affiliate marketing is where you advertise/market someone else’s product and provide a link. If someone clicks the link and/or buys the product then you get a commission.
How Does It Work?
There are several ways to become an affiliate marketer. The primary way is to have a website or blog. Next is being a social media influencer. Finally there is email marketing, sending links of products to a very large number of email distribution list. Regardless of the way you first have to have the distribution vehicle in place; be it a live website, large number of social media followers or a massive email distribution list.
Then you signup with an affiliate marketing platform. There are two types of affiliate platforms; ones that server as an intermediary between other companies and ones that companies offer for their own product. For example, ShareASale allows you to get affiliate links for many different companies products. On the other hand WordPress only has affiliate links for it’s own products. Regardless of the affiliate company they still work the same way.
When you signup they each have different criteria they look at. Some of them are website focused and require a certain number of visitors at your site before you can get approved, others need proof you are advertising their products and others are very wide open to other distribution approaches.
Once you are approved they will provide you with special links for the products or a system for adding the links to your products. Exactly how this works varies between platforms.
When people click on the links then depending on the platform you might be credited as a “sale” then or you might have to wait until the product is bought. Each platform has a different commission structure that varies from 2.5% all the way up to 50+%.
How Much Money Can You Make?
If you are starting off without much of a website/blog/social media presence/email distribution list then you will be lucky for $100/month. As your distribution platform becomes very successful it can make $1,000-$2,000+/month.
Something to keep in mind is that each platform has different time frames of paying out commission. The extreme ones don’t pay until 60 days after you earn the commission. A high level comparison of five of the more popular platforms is here.
Websites – Multi-Vendor Platforms
- Amazon Affiliates
- CJ Affiliate
- eBay Partner Network
- Warrior Plus
- The above list of sites is quite extensive and each one is slightly different. For a high level comparison of five of them you can check out this article. If you are looking for much more detail on most of them then look at this great article from MakeAWebsiteHub that goes through the pros and cons of each.
- The greater connection you have to your audience and the product the greater chance of commission. Email distribution lists usually end up in junk folders. However if you are a niche website about fitness shoes with a high engaged group of followers, then when you advertise a fitness shoe there is a strong likelihood you will get a commission.
- Make sure you are comfortable with the quality of the product you are marketing. Some have very high commissions however the quality may be extremely poor.
For More Information Check Out These Related Books
- How to blog for profit without selling your soul – US/Canada
- From Nothing: Everything You Need to Profit From Affiliate Marketing, Internet Marketing, Blogging, Online Business, e-Commerce and More – US/Canada
Categories: Passive Income