Is it possible to earn money without having capital? What’s more, is it possible to sustain such means during this time of a pandemic?
The answer to both of these questions is “Yes.”
If you are searching for means to earn money but don’t have any funding, you can try being an affiliate marketer.
Affiliate marketing is the process in which a person, known as the affiliate, makes money through commissions by marketing a merchant’s products and/or services.
Affiliate links are used to track sales from one website to another. Anyone can be an affiliate, regardless of gender, status, age, or educational background.
Since digital marketing is basically all you will be doing, you can work from home. So, you can control your own schedule as well as avoid long transportation between home and workplace.
The Good things about affiliate marketing are:
- You do not have to worry about the development and fulfillment of orders.
- You do not have to pay a fee to join an affiliate network.
- You just have to market the product and/or service, and you will get paid a commission for every sale or referral.
This sounds great, but with so many people working from home, is affiliate marketing still worth it in 2022 and beyond?
Should You Focus On Affiliate Marketing In 2022?
According to statistics, the affiliate marketing industry is expected to rise from $5.4 billion in 2017 to $8.2 billion in 2022. So, even though a lot of people are already in this industry, it is still lucrative.
In fact, the affiliate marketing industry can get better because most people tend to purchase items online instead of offline.
As long as affiliates can bring in customers to the business, this industry will thrive.
Google Trends even shows how the keyword “affiliate marketing” ranked in the search engines for the past five years. Clearly, there is an upward trend that we can expect, at least for the next few years.
As an affiliate or affiliate marketer, the amount of money you will earn will depend on your ability to reach out to prospective customers and induce them to buy.
It will also depend on the commission structure that you and your partner merchant have agreed upon.
Moreover, your earnings will depend on how much time and effort you dedicate to your job.
So, even though affiliate marketing is a lucrative industry, it can still be pretty hard to determine precisely how much affiliates can earn.
Nevertheless, according to a report, thirty-five percent of affiliate marketers claimed that they earned at least $20,000 in revenue.
How Can You Get Paid?
In general, there are three ways on how you can earn money through affiliate marketing:
- Pay per Sale
You get a percentage of whatever amount the merchant makes from selling his product or service. Essentially, you only earn money when a customer makes a purchase.
- Pay per Lead
You get paid for every lead conversion you make. So, you have to really persuade your target audience to go to your partner merchant’s website and take action. They can either register, subscribe, fill out a form, or download a file.
- Pay per Click
You get an incentive each time someone clicks on your link and gets redirected to the website of your partner merchant.
It should be noted that affiliate marketing is in no way a get-rich-quick scheme.
Just like any other decent way to make money, it requires a significant amount of time and effort to yield good results.
If you want to make a lot of money through affiliate marketing, you have to find the right merchant and the right products and/or services.
Ideally, the things you promote should be something that you are genuinely interested in and believe in. This way, convincing other people to buy them will seem natural and genuine.
You should also have the right attitude. Even though affiliate marketing can be done remotely, you still have to be professional towards everyone you deal with. You should also be disciplined enough with your work schedule.
While you can take a break whenever you want to, you should still make sure that you reach your goal.
If your partner merchant did not give you a goal, you should still have a personal goal. This way, you can ensure that you are able to reach your target goal and earn your well-deserved commission.
It is also ideal to create a strategy that works. Study the market and learn how your target audience moves online.
You can also get inspiration from popular and successful affiliate marketers. You can copy their styles, such as the way they post blogs and other elements on their website.
A good long-term marketing strategy will serve you well in this industry.
As an affiliate, you have to use all the channels available. For instance, you need to have your own website and social media pages. This way, you can easily reach out to your target audience.
Just do everything you can to be highly visible online. The more people you attract, the more clicks your links will have and the higher your commission.
Then again, how do you know if affiliate marketing is still really worth it?
When you are personally passionate about the product and/or services that you are promoting
Well, you can be sure that your time and efforts are not being wasted when you see a connection between yourself and the product and/or service that you are promoting.
You can be successful if you are knowledgeable and passionate about your job. When you like what you are doing, you will be able to form a rapport with your target audience more easily.
Also, just as mentioned previously, you can seem more natural when you promote products and/or services that you actually like.
If you have no problem being a customer yourself, you will surely recommend the products and/or services to other people.
When your target audience is engaged
It is easier to convince people to try something out if you have ongoing communication with them.
So, aside from posting articles, videos, and images that pique their interest, you should also show that you have their best interest in mind.
Answer their questions and reply to their comments. Give tips and suggestions to guide their decision-making. Let them feel comfortable discussing the product with you.
What’s more, you have to show them that you really know what you are talking about.
You do not need to be a product or service expert to give good reviews. You can simply give them factual and helpful information in a manner that they can relate to.
Also, you should create a tutorial if possible. You can upload videos and articles that contain step-by-step instructions on how to use the product. You can use social media platforms such as YouTube and Facebook.
When people trust you, they will be more inclined to do what you tell them. So, if you ask them to click on a link or buy a specific product and/or service, they will not hesitate to do it.
When your target audience is the right match to the product and/or service that you are promoting
It is so much easier to sell to people who are already interested in the product or service that you are promoting. These people may only need a slight nudge to make a purchase.
After all, they have probably been searching for this product or service for quite some time now.
If you want them to choose your partner merchant’s brand over others, you have to prove to them that what you have is the best option. Give them enough reason to believe that it is the right brand for them.
Aside from using relevant videos, images, and articles, you should also use the right keywords and key phrases. This way, people who are searching for your partner merchant’s products and/or services can easily find them. Incorporate these keywords in your blog posts, titles, and tags.
Remember that social media posts, email newsletters, client calls, training sessions, and webinars are all ideal affiliate marketing channels.
If you use them properly, you will be able to improve your analytics and reporting as well.
When you are a partner who adds value
If all you are concerned about is making money, you will not go far in the affiliate marketing industry. Just like any other business, you have to have the grit to succeed.
Aside from being knowledgeable, passionate, and efficient, you also have to add value to both your partner merchant and the consumer.
Do not merely upload content that is filled with keywords. You have to upload content that your target audience can truly find helpful in their lives.
If you possess certain expertise, you have to use it to connect to your target audience.
For example, if you are an expert on cosmetics, you can teach your target audience how to properly apply makeup for day and night events.
You can teach them how to make their face smaller or their eyes bigger. Then, you can strategically promote your partner merchant’s cosmetics by suggesting that they click on the link and check out the products on the website.
Affiliate marketing is worth it if you have the right attitude and you put in enough effort. It is lucrative now, and it will remain lucrative in 2022 and beyond. This article should have taught you all the fundamentals that you need to know about it.