Making money with affiliate marketing may seem like its impossible until you make your first commission. This is exactly how I felt when I first started with affiliate marketing.
To make money with affiliate marketing you will have to have marketing skills. These marketing skills will give you the ability to create ad campaigns and sales funnels that convert your traffic into commissions.
These marketing skills are not easy to learn but once you discover how to market products online you will be able to create ad campaigns that will bring in profits. Further down we will look into a few different ways that you can make money with affiliate marketing.
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Further down we will discuss the following topics:
- How can I make money online with affiliate marketing?
- Can affiliate marketing help me quit my job?
- How much money can you make as an affiliate marketer?
- Is affiliate marketing still profitable?
- Is affiliate marketing saturated?
- How long does it take to make money with affiliate marketing?
- What is the average income for affiliate marketers?
How can I make money online with affiliate marketing?
If you are tired of working for someone else and want to make a business that you call the shots affiliate marketing should have your attention. The low start-up cost can have you running a business with minimal startup costs.
You can make money with affiliate marketing by finding a good offer. No matter how well you promote your affiliate link if the offer is bad you will not get conversions. Once you find a good offer you then have to create a geed converting sales funnel.
Making money with affiliate marketing will seem impossible when you first start. This is because it will not be easy. It will take time and effort on your part before you have discovered a good offer and sales funnel that gives you a profit.
Steps to making money with affiliate marketing:
Step 1 get approved for affiliate programs
You will need a website to be accepted to most of these affiliate programs. This is a real business and this is a minimal time and cost investment on your part.
Try to find an affiliate network that has offers that are within your desired niche. If you are not sure what niche you want to be in, you can apply to a few different affiliate networks.
If you are thinking about promoting offers for power tools and other handyman tools a good affiliate network to join would be Homedepot’s affiliate program.
There are so many different programs to choose from that you literally can find one for any product you can think of.
Google search your niche and follow the words with an affiliate program in the search bar and you will discover that the available networks.
For example, if you want to be an affiliate marketer for video games I would type “Video game affiliate program” in my Google search bar.
It is as simple as that. Once you apply to a few affiliate networks I would start to look at the offers themselves.
Step 2 find the offer
Finding a good offer. There are many different affiliate networks with thousands of products to choose from. You can do lead generation or you can do eCommerce. There truly are an endless list of different products and or services that you can be an affiliate for.
The best strategy is to find an offer that is within an industry that you are already interested in. For example, if you are a guy that is into outdoor recreation or video games I would not recommend choosing a product that is tailored to women.
You are better off staying with a product that you are familiar with because you will be able to relate better to the people you are marketing to.
You can write better ad copy and you can think of new unique angles for your ad campaigns.
For example, I like marketing. I can sit and analyze a marketing strategy for hours. I can sit and write ad copy and test ad campaigns every day and be happy.
I can write for hours about all things marketing. This is because I am interested in it. I find it fascinating. But my wife on the other hand can not stand what I do.
She always asks me if I am tired of doing what I do. She asks me this because she sees how many hours I put into what I do.
I have written hundreds of posts all at least 1,500 words long, some as long as 10,000 words. But I never get tired of writing marketing content. But if I had to do this for woman shoes I would not get passed the first page. This is because I have zero interest in woman shoes.
You will have to put out a lot of work into building your business and you will need to be passionate about it. If you choose what makes the most money you will not make any money because you will give up. That is a fact.
Choosing an offer that you know about and have an interest in will make this process a lot easier. After you have built your business and want to branch out to other more lucrative niches you can do so then. But when starting it will be a long grind and you will give up if you do not care about the offer.
Now you are an approved affiliate for a few networks and have chosen one to three offers to test.
Now it is time to create your ad campaigns and test different angles.
Step 3 spy on other affiliates that are running ads on that offer.
Once you have found an offer you will want to find inspiration for your ad campaign. Being new to affiliate marketing you will need to see what angles are working for other affiliates. After a while, you will have a good idea of what ad copy and ad creatives will work best.
Despite you having a good idea of what has converted for you in the past, you will want to continue to test different marketing strategies. Doing this will keep your campaign fresh and will allow you to find high profits.
Once you have your offer the best thing to do next is to spy on other affiliates that are running successful campaigns for that offer or a similar offer.
You can find these ads with a tool called Anstrex.
With this affiliate spy tool, you will see the whole ad campaign sale funnel.
This is what you will see when you look up offers:
- ad creative
- Ad copy for title
- Ad copy for description
- Landing page
- Long or short form advertorial
- VSL content
- Targeted location
- Traffic source
- Schedule of ads
- Offer page
All this information will give you a real good idea of where to start. I would not rip off the whole sales funnel but I would model my sales funnel to be similar. I would change and test all parts of the funnel.
Start your testing from step one of your sales funnel and move your way through your sales funnel. Step one would be your ad creative.
Once you have tested the funnel and have discovered the highest converting funnel you can scale.
Step 4 scale your ad campaign
Scaling your ad campaign is simple. Take 80 to 90 percent of your marketing budget and invest in more traffic so you can increase your revenue. Use the rest of the marketing budget for testing new angles and creatives for that campaign and new ad campaigns.
You never want to stop testing new ad campaigns because when your profitable campaign stops giving you profits you will have no money coming in. THis is why you always need to look for more profits.
Can affiliate marketing help me quit my job?
Affiliate marketing can be a way to make money online and this business model has helped many individuals to create successful businesses. This success has given them the ability to supplement their income and by doing this they can quit their job.
The average affiliate marketer does not make more than 20k a year and this will not be enough to quit your job but there are a large number of affiliates that make well over 100k a year and this can help you quit your job.
When starting affiliate marketing you will first need to learn a few skills before you can make money with it. It is going to take time to learn these skills but when you do learn them, the conversions will start to roll in.
Everyone wants to make money online and create a business where they do not have to work for anyone else. But very few people are willing to put in the work that it takes to do it.
You have to be willing to put in the work without getting paid. It will be a huge sacrifice because you will more than likely have to work a regular job come home and deal with the family and put in the work on your online business at night when everyone else is watching TV or sleeping.
This is at least what I had to do and not many people are willing to put in the work. It is easier to depend on another business owner to give you a job.
So to answer the question if affiliate marketing can help you make money so you can quit your job the answer is yes. However, you will have to be willing to put in the work because if not it will not happen. It is not easy and the competition is fierce but with enough hard work, you can make well over 100k a year.
How much money can you make as an affiliate marketer?
When someone starters out in affiliate marketing they always ask “how much money will I make”? It is difficult to answer this question because many different variables are involved.
Typically with affiliate marketing, people make between 10,000 and 20,000 a year. If the affiliate marketer has experience within the industry their income will be 20,000 to 40,000 a year. However, in some verticals, the income increases because of the demand.
For example, if you are an affiliate marketer for the gambling vertical your payouts will be a lot higher than the video game vertical.
The price for a video game is about $60 and a lot less for a download.
For gambling or a stock software or a stock trading monthly membership, the amount the customer will invest is a lot higher than $60. A stock trading software can be a few hundred dollars and a gambling membership can make a few hundred a month.
This is income will come in every month or until the customer decides to cancel. But that can be months or years later. The lifetime value for these types of customers is a lot higher and this is why the payouts are higher within these verticals.
If you create a website for your niche you can also sell your traffic to marketing agencies like media vine.
The CPM payouts are about $2 for video games and are about $30 to $35 on a website that is in the stock or gambling verticals.
This is because people who are on your video game website are probably 14 to 25 years of age and are in school or have low paying jobs.
They do not have a large amount of money sitting in the bank. There are exceptions to every rule but this is for the most part what you will find.
But when it comes to people who are on your website that is about the stock market, these people are investing and have cash. Typically they have good-paying jobs and can invest in buying more expensive items.
Porsche is willing to pay a premium to show an ad to people who are investing in stocks versus investing in ads to people who are playing video games.
This is why the vertical of your affiliate marketing business is what will determine how much money you will make.
Is affiliate marketing still profitable?
Affiliate marketing is profitable today it is more profitable now than what it has ever been. With major department stores closing and with malls shutting down all across the United States affiliate marketing is experiencing an increase of profits year after year.
Online shopping has increased to 63% and continues to grow. Now that COVID has changed our lives more and more people will be doing their shopping online. source
There are 1.8 billion people who do their shopping online and this will not change. You can start your affiliate marketing business and make a lot of money from it. You do not need it all, a small portion of this online shopping can change your life.
Amazon made 232.9 billion dollars in 2019 and their sales have increased. If they make 250 billion dollars in 2020 how much of that would you need to live the life that you want to live?
We are just talking about Amazon and we have not mentioned other online shopping websites like eBay, Walmart, target, home depot, etc.
So you see that it does not take much for you to make a lot of money online.
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