Today many people are living paycheck to paycheck which is unfortunate because most of them work very hard. Sadly, the solution to this problem then becomes to get another job to supplement existing income, once again trading precious time for money. I think the best solution is to start an Online Affiliate Marketing Business to supplement your income.
My goal with this article is to first explain Affiliate Marketing and what it is so you can gain a better understanding, and then I will get into more details about some benefits of this business model. Hopefully, by the end you will see why I believe this option is the best and you may agree…so let us do it!
WHAT IS AFFILIATE MARKETING?
We have all heard of “Word Of Mouth Advertising” – If you haven’t it’s okay because I will break it down today. We’ve all bought a product at some point and loved it so much that we couldn’t wait to share our excitement about it with our family and friends. Based on our excitement, knowledge of the performance and quality of the product, and our own personal recommendation, our friends and family decide to purchase the product as well. This process is called word of mouth advertising, it has been very effective for a long time and has been said to be the best means to advertise in the past.
Affiliate Marketing works very similar to word of mouth, the big difference is affiliate marketers receive a commission for every sale that is generated through their word of mouth promotions. With the different online platforms available today to reach millions of people that you don’t know personally, it becomes much easier to share information about the products or services you are promoting which may be useful to others. Are you starting to understand why an Online Affiliate Marketing Business is a great idea? Okay, let us begin.
Ease Of Setup
When looking at starting a traditional brick and mortar business, there are lots of things you have to consider before you do anything. Typically, buying a building or renting the space to operate isn’t really an option for most people looking to supplement their income, the high costs associated with possible leases, purchases, licenses, and permits required can be intimidating. The thought of this makes most people say “I’d rather just stay at their job and work harder” knowing they should be doing something else.
On the other hand, looking at starting any business online eliminates the need for a lot of the components needed in the traditional model and reduces overall start-up costs. This is HUGE for new businesses because it allows the company much-needed time to gain traction in the market while implementing ideas to create profits early with minimal cash output.
Take Footlocker, for example, they sell tons of shoes and sports clothing among other things. If I were to compete with a company like them and try to open up a brick and mortar store with a similar theme and products, it would be a very costly venture that I may never see a return on. Assuming I was starting with one location, there would be so many questions to get answered such as where would the LOCATION be? Where are my products coming from, do I have to pay upfront or is there some kind of consignment? You get the picture.
With an online affiliate marketing business, the possibilities of what you can do are endless and you can get started very easy for LOW TO NO COST!!! In most cases, you need a few things that you already have in your possession, such as a computer or smartphone, internet access, email account, and an account on a social media platform at the very least. You can technically get started with these simple tools, but if you have no idea what your doing the road ahead may be rough. If you would rather try it on your own…be my guest, I will share how you can get started today. I will also leave a link to my recommendation on the best way to start your online business.
The first thing you want to do is figure out your Niche – the part of the market that you want to compete in, like shoes and sports clothing like we did with the Footlocker example. The next thing you want to do is find out where your audience is, and in this case, we will be using our social media platform with access to millions of people. Once we have our platform established, the next step is to reach out and engage to figure out the best products to offer based on needs and wants. Finally, you sign as an affiliate for a product that meets the need and solves the problem.
Remember, it is still a business and work will have to be put in to get results. There is definitely a misconception that online success can come with minimal effort, which is the reason some people never make it.
The affiliate marketing business generates billions each year and the numbers are still climbing as time goes on. Your mindset should be on trying to grab a piece of the pie, by providing valuable products and services to your audience it allows you to generate income for yourself as you build trust and authority. The best way to start is to focus on solving a problem that your audience is having through engagement and then offering products or services that could benefit them. Many people make the mistake of just flooding the internet with different affiliate links, without engaging with an audience and hoping that someone will find value in the product and make a purchase. This is not a recipe for success and could leave you questioning the opportunity at hand.
Sometimes people see or hear of an opportunity that is available, but don’t act on it because they’re not sure they can be successful. My advice is to just get in the game if you really see a potential for success and are passionate about the opportunity. For Example, many people would love to win the lottery, wishing they were on TV holding the HUGE check taking pictures, and anticipating the trip to the bank. The only problem is they never buy a lottery ticket to have a chance at ever winning, so it is just a dream or wish that will never come true.
I encourage you to do research and get some facts about any opportunity that you consider to make sure that it is the right fit for you before moving forward. Like we said earlier, there are tons of affiliate programs available but not all of them are worth promoting.
One of the beauties of working as an affiliate marketer is that you can conduct business from just about anywhere in the world, and you don’t have to be in an office setting. Most people who are doing this full-time often travel and take vacations while checking on their business from a laptop when they feel like it. There are new products and services being introduced constantly, so there is always something new to promote and share with your audience that brings value to their Life
Another awesome part of this opportunity is that you are your own BOSS and you essentially answer to no one. It allows you to take full creative control of your business and make decisions that you wouldn’t under a different organizational structure.
You are not expected to punch in or out, send times sheets to make sure you get paid on time, and the best part is your business online can stay open 24/7. The internet never sleeps and it keeps your business up and running when your not, allowing you to make money at all times.
With so many people using mobile devices today, it’s very easy to make sure that you’re constantly keeping in touch with your audience and staying up to date on relevant problems they may have and being the first to offer solutions to assist. There are mobile apps that help with many tasks associated with running your business such as automated emails, instructional videos, and push notifications. All these tools allow business owners to be more efficient and creates more time to handle productive tasks that benefit the business and its clients.
Recurring Income Option
Making extra cash is the goal, but not spending more time to have to do it is the ultimate accomplishment in my opinion. What I’m talking about is residual or recurring income, which many affiliate marketing programs offer. Some pay higher than others but as long as you can build a few of these streams with your business, there becomes a potential to quit your JOB if you become more profitable with your online business.
If residual or recurring income is a new concept to you, I’m glad I am the one sharing it with you because I’m sure you will understand it and love it. The way I see it, if you can create something today that solves a problem that will always be around, you can always get paid when someone applies your solution or uses your product. Let’s look at an example.
Not making enough money is a problem that many people face today, if I come up with product X which gives people the ability to make $1,000 extra a month then it brings value to their Life. There are many people who can benefit from an extra $1,000 a month and would love to use the product as long as it worked. Let’s just say that I invested 6 months and $500 initially to create the product, and now people can generate an extra $1,000 a month using it. I can set my price point at $200 a month for anyone to take advantage of my product and would do very well if the product worked and had value. For the sake of the example, let’s say I have 10 people interested after seeing the product and make a purchase, after the first month all 10 clients generate an extra $1,000 and I generate an extra $2,000 from sales. As I grow my client base, my income grows as well, and I can continue implimenting this with various products at differnt price points.
Work ethic is still very important in this process because as you know it is not easy to create products or services that you can sell to generate income. The good news is that there are many reputable products and services already out there that will pay you to promote them to others who may find them useful, and you can earn lifetime residual income as long as the clients you refer continue using the product or service. How does this sound to you?
We have defined affiliate Marketing and how successful the business model can be if implemented correctly and talked about some benefits as well. Everything from the fact that it is responsible for billions of dollars in revenue each year and continues growing, to the millions of products available in different Niches. The unlimited residual income potential and flexibility which an online affiliate marketing business provides are definitely very attractive, and that is why it my number one choice to make extra money. I hope you found this article helpful and motivating, as always please leave any questions, comments, or concerns below and I will get back to you sooner than later. I would like to know how many people reading this article have thought about ways to earn extra money, and what were some ideas that came to mind?
To Learning, Sharing, and Earning.
Passive Income For You