OK let’s begin exploring the world of affiliate marketing.
Fact 1: 15% to 30% of all online orders are generated through affiliate marketing.
Fact 2: $7 million in affiliate marketing revenue was produced by one influencer in a single year.
Fact 3: Affiliate Marketers receive a 1-10% commission for affiliate marketing with amazon.
Fact 4: Over 80% of brands have affiliate programs.
So what is Affiliate Marketing?
Affiliate marketing is the process by which an affiliate earns a commission for marketing another person’s or company’s products. The affiliate simply searches for a product they enjoy, then promotes that product and earns a piece of the profit from each sale they make. The sales are tracked via affiliate links from one website to another.
In English, this means you promote a product or service and receive a commission from any sales you generated.
Here’s a simple example: I am a member of Amazon’s Affiliate program and whenever I promote their products I receive a commission.
My favorite book that I believe is a must-read for you all if you ever want to gain financial independence and financial freedom is the best seller Rich Dad Poor Dad by Robert Kiyosaki. 32 million copies sold already. https://amzn.to/2K7rEJm
If you click this link (my affiliate link) and purchase this book from Amazon I will receive a commission.
This is the basic concept of Affiliate Marketing.
The cool thing about Amazon’s Affiliate program is that if you click my Amazon link I will receive a commission from everything you purchase from Amazon over the next 24 hours. In fact, about 50% of the commissions I make from Amazon are from other products people purchased after they clicked my links and did not even purchase the product I was promoting.
This is why you will find people promoting garbage from Amazon. They just want you to click their link so they can potentially make a commission on anything you order the next 24 hours.
*I would never promote something I didn’t believe in or trust. I would never promote garbage to win a few clicks. It’s also just not smart business.
Amazon is just one of the millions of businesses and brands that have affiliate programs you can join. 81% of Brands on earth use Affiliate Marketing to generate billions of dollars of sales each year.
To make money with affiliate marketing you will need:
- Audience – you need an interested audience to promote products or services to.
- Product or Service – you need a great product or service with an affiliate program that your audience would be interested in.
There are hundreds of ways to build a targeted audience to promote products and services to. Here are just a few:
- Email lists
- Instagram accounts
- Facebook pages and groups
- WhatsApp Groups and Status
- YouTube channels
- Telegram groups
- Slack teams
Here’s an example, you are currently following my WhatsApp status and I’ve attracted people interested in financial freedom. I will teach you everything I know. Now I have an audience that I can promote relevant products and services to which is a benefit we get by sharing our knowledge and experiences.
Ever wondered how DansDeals makes money? His entire site is affiliate marketing. Dans is an affiliate marketer. Whenever you click on links on his site he can potentially make a commission. His Credit Card ads can generate him up to $500 commission for each credit card that any of his visitors are approved for.
This is why he writes all about credit cards, points, and travel. He is attracting his target audience and now able to market related products and services to a highly targeted and engaged audience.
There’s a lot more to discuss but I need to get some sleep tonight so I’ll share one last thing tonight and we will continue tomorrow where we left off.
Amazon affiliate like many other programs is one time commissions. You click my link and purchase something, I get a one time commission. But there are many affiliate programs out there that offer recurring commissions. That means you share your link, someone clicks it and signs up for something and now you get a commission every month so long as the customer still has an active account on that service.
More on this tomorrow.
Yesterday we went over the basic concept of Affiliate Marketing. Tonight I’d like to go through just 3 of the hundreds of ways to generate money through affiliate marketing:
- Email Lists
The idea is simple: build a list of emails of people interested in a topic or industry. Then you can promote affiliate products or services to them and make money.
Here is the basic process:
- Create a squeeze page and offer something of value to your target audience in exchange for them sharing their email address with you. (A squeeze page is a landing page created to solicit opt-in email addresses from prospective subscribers.)
- Drive traffic to the squeeze page and grow your email list.
- Send out emails of valuable content 2x a week. Email content must be relevant to the audience. This helps you build a trusting relationship with your audience so that they wait for your emails and open them and read them.
- Every 3 or 4 valuable emails you share with your email list you can then share an affiliate product or service with them. The product or service must be relevant to your audience.
That’s an example of a squeeze page. Doesn’t need to be all fancy. Less is more.
These guys offered you something for free in exchange for your email address.
If you enter your email they now know you are interested in knowing about growing your subscribers and they can promote relevant products to you.
There is a lot to learn here to be able to set up and execute the full business. I can’t go through every step in one night or two. The best place to learn this type of affiliate marketing is ClickBank University. http://bit.ly/2CvV7ts
ClickBank is the biggest affiliate marketplace. That where everyone finds affiliate products to promote. They do billions of dollars in sales. So ClickBank University teaches you how to set up squeeze pages, grow your email list, nurture your subscribers, and promote products to them.
Check out https://thewirecutter.com/
The Wirecutter is an amazing example of a blog that promotes affiliate products generating millions of dollars. The New Your Times bought The Wirecutter for $30 Million Dollars only five years after it was founded!!!
So how does blogging work with affiliate marketing?
You can write blog posts that review/compare the Top 10 Cameras in 2019. People searching Google for the best cameras will find your page and read it and hopefully click the links to see those products on amazon or B&H and if they purchase the camera you make money.
With this type of blogging, you need to learn about SEO (search engine optimization) because you will want to write the articles in a way that will land you on the first page of Google when people search for a thing. This way you get free traffic to your site and don’t have to pay for advertising to drive traffic to your site.
You will also need good content. Writing garbage will not get you anywhere.
The guy I learned a lot about blogging affiliate marketing from is Franklin Hatchett. He makes millions of dollars from affiliate marketing and he doesn’t even write the articles himself. He shows you how to have others write the articles for you…. To see his affiliate course check it out here http://bit.ly/2RTzO9l
The idea is to create a website that has an organized list of products and services for people to find resources. Let’s use my site dropshippingresources.com that I built in a few hours. This is a site that is just an organized list of resources for anyone into dropshipping.
I use a WordPress theme called Chimpmunk. All I need to do is find the resources and enter them into the website. https://chipmunktheme.com/
Find deals only and share them on a website and make money when people click through your site and purchase products. This is what dansdeals.com and JustSlashed.com is about and its what I’ve done with my site called locolow.com
We find the best deals and post them on our website. We drive traffic to our site and people click products and go purchase them on sites like Amazon, Walmart, Bloomingdales and thousands of other sites and we get commissions…
Setting up a deals site is the easy part. Finding great deals is hard work. More on this another day.
Check out Pat Flynn to get deeper into some the concepts of Affiliate Marketing.
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Until now I have been sharing basic concepts of different ways to make money online and how to generate passive income. I will continue sharing many more ways to generate money and passive income along with amazing resources so you can explore further.
I’d like to pick a specific business and teach you how to get started from scratch and help you all build it up into a successful and profitable business.
This would include me teaching you through WhatsApp Status and Live online where I walk you all through each step from A-Z. I will also try coaching you all through a private group where we can all help each other succeed as well.