Yes, affiliate marketing can make you rich. However, most affiliate marketers fails because of one of three reasons: persistence, quality, and ushering. Let’s discover what affiliate marketing is, who regulates affiliate marketing, and how to succeed. Affiliate marketing can be highly lucrative if done correctly. And the correct way is providing valuable content and information to those you are marketing to. Let’s take a deeper look.
Is Worth It?
One of the big questions those who are thinking about making money online is if affiliate marketing is worth it. My resounding answer is, YES! Affiliate marketing done correctly has the potential to put hundreds if not thousands of dollars in your pocket on a monthly basis.
The benefit of affiliate marketing is that it is form of passive income. Once you set an affiliate marketing opportunity in motion, it stands to make you money for years. If done correctly, a few weeks of affiliate marketing can provide you years of passive income.
Second, when you do affiliate marketing, you are truly helping customers out there reach a goal, product, or service that they need. For some, this is the tipping point for them to have a better life or to solve a problem for them. So, not only are their financial gains to affiliate marketing, but social gains as well.
Yes, affiliate marketing is worth it. And affiliate marketing can make you rich. Let’s discuss how it works.
How Affiliate Marketing Works
How affiliate marketing works is simple. The products and services that companies develop nothing siting on a shelf in a random warehouse. Companies, even big ones, need help getting the word out about their products.
With that in mind, companies are willing to pay others a commission for helping them land a sell of a product or service. That’s where affiliate marketing comes in. The partnership between you as advertiser and the company as the originator creates a dynamic whereby you both earn money.
Affiliate marketing works because you are doing them a favor to gain a sell, and they are giving you a piece of the action. Both parties profit.
However, here is where many affiliate marketers fail. Just because you advertise a product or service for a company, it does not entice a blog or website visitor to purchase it. You have to usher people to affiliate marketing opportunities. Not by throwing a random link on a website, but by helping a website visitor understand how a product or service will fulfill a need they have.
You could very well create a blog about cats, and do affiliate marketing for a pet insurance company on that site. It’s a smart idea. However, not giving your visitors information or reason to care about pet insurance does not help them understand the utility of it, nor you earn any money from it, nor the pet insurance company see any gains.
Therefore, an incredibly important aspect of affiliate marketing is giving your visitors valuable information the creates the reason and urgency to take action and purchase a product or service. Again, affiliate marketing can make you rich, but not without valuable content and reader engagement. No engagement, no clicks, no money!
There is a saying across the internet that content is king. At the core of how affiliate marketing works is you providing excellent content that people want and need to read that has attached purchase opportunities to it. It is that simple in theory. Please read our post about how to earn money through affiliate marketing. It will give you information about how to get started.
Who Regulates Affiliate Marketing?
No one actually regulates affiliate marketing. However, there are some rules that you must keep in mind to stay out of trouble:
- Keep any terms and conditions set by the company you are doing affiliate marketing for. Each company has its own terms. Most have very general rules about affiliate marketing, while others have very specific rules such as prohibiting you from competing with their keywords or using their company name or logo in a certain way.
- Who regulates affiliate marketing the most are your visitors. Only market to them products and services that are within the content of your website or blog post. Using the cat blog example, it is not wise to market concert tickets to those visitors. They may distrust your site.
- Lastly, you should avoid making blanket promises about an affiliate product or service. Using words like “best” or “only” may paint an inaccurate picture. And if that person goes purchases a product through your affiliate link and you have stated it’s the “best” one out there, and it’s not, they may ruin your reputation. So, just be careful.
- In the end, YOU regulate the affiliate marketing you do.
Which Affiliate Marketing Niches Work?
A niche is just a fancy word for “specific area.” The question of which affiliate marketing niches work comes up often. The answer is any niche will do. There are few important factors in picking the affiliate marketing niche that might best suit you. Here are five tips.
- Find your passion. Think about what you are really great at doing. Maybe you are an artist by trade or by hobby. That is the niche you want to select. Why? Affiliate marketing niches work for YOU when you are able to create blog or website that you can actually write great content about. You should only select niches to market in that you have some expertise with. If you are not certain what you might have an expertise in, check out our blog post about finding your passions. It may help you choose one to four niches that are a match. And the third piece of if affiliate marketing can make your rich is persistence. Doing marketing in a niche that you have passion about will make you more persistent in going after this. That persistence will allow you to stay engaged. Affiliate marketing is a long game, with high possible pay off.
- Look at the competition. Do some research about how many other people are operating websites and blogs in that same niche. You can do this by googling keywords associated with your niche and looking at the number of search result google returns. It will be a good insight to the competition out there.
- Get specific. Just because a niche may seem very competitive, you can get more specific in any niche and discover gold minds. Let’s go back to the cat blog example. Instead of operating a “cat blog” you may instead have a “Bengal Cat” blog. This is more specific and would have less competition than a cat blog. Word to the wise, never go so specific that you have no one looking for that type of information. Find the right balance.
- Trends. New trends are also affiliate marketing niches that work. For instance, IPADs have been around for sometime. As they were going to launch, this would have been a perfect affiliate marketing opportunity. It’s new, everyone wants it, and it’s useful. Perfect! However, fidget spinners have come and gone at this point. New trends with utility are those to look for.
- Mid-priced products and services. It is important to be involved in niches that will allow you to sell products and services that are not overly expensive, but not cheap as well. It will encourage purchases, but not break the bank for your visitors.
I hope that this post has been informative for you and will help you start or continue your affiliate marketing journey. If you like this post, please scroll below and sign up for our free Broke to Best Newsletter. Until next time!