Affiliate marketing is an excellent opportunity to generate additional revenue, specifically from products or services you’re passionate about.
In essence, affiliate marketing allows you to earn a small commission for recommending products you love to friends, family, and larger audiences. Typically, a person becomes an affiliate through a business by either applying or reaching out and receives a special link to direct all prospective purchasers. Once a purchase is made, the affiliate makes a commission.
Different from multi-level marketing, there is no incentive or pyramid structure to limit your earnings or one specific type of product you must sell. Though some may argue that it takes a certain follower account or industry to make an income, even having a small blog can allow you to start generating passive income through this method.
Create a website
The first step to generating traffic to gear toward specific products or services is by creating a website. Create a brand based on a specific audience and provide content like photos, a blog, a podcast, etc, that can help you promote products or services.
Find products you love
Begin to search for products that are not only relevant to the type of media you create. Search for products you truly love and enjoy. Choose products and services you have experience with and that improve your quality of life.
Initiate successful partnerships
An affiliate partnership ensures that both the affiliate and brand are benefitting from an agreed upon arrangement. Though starting out this may be a bit of a challenge, there are plenty of existing companies that have not yet created an affiliate program. If you have a local small business you frequent, consider it as an opportunity to develop a partnership.
Consider Amazon Affiliates
One of the original affiliate programs in existence, Amazon does offer an affiliate program with up to 10% commission. What’s great about this program is that it’s free to join and because Amazon is universal, there’s truly a product for every niche interest.
It’s easy to sign up, so begin to look for opportunities with this platform.
Use Pinterest, Facebook Ads, and Email Marketing to build your list
These marketing tactics ultimately will be the foundation for building your online audience. Based on the product or service you plan to offer, research which platforms your target audience spends the most time on, and create content for them there.
Creating and maintaining an email list is one of the most effective ways to continue to keep customers in the door.