There are still plenty of opportunities and possibilities to build a passive income with affiliate marketing. Just think: more and more companies are using affiliate marketing as an additional sales channel, which means they are looking for affiliates to promote their services and products.
Why build passive income with affiliate marketing?
There are plenty of ways to make money passively. So what makes affiliate marketing so interesting?
Maybe you recognize this: online business appeals to you, and you see the opportunities. The Internet offers plenty of opportunities. At the same time, those opportunities seem endless and instead of starting something, you end up in research mode and nothing happens.
Perhaps you have a full time job, or you’re still in school. You don’t have much time to do anything besides that. Running a customer service department, keeping accurate accounts, marketing efforts to bring in business… all things that come with being an online entrepreneur. You simply don’t have that time.
It doesn’t have to be that way. Affiliate marketing offers a solution. Starting is easy and the startup costs are low. Besides that, you never have to deal with customers and with a few hours a week you can already make a good start.
Affiliate marketing is a great way to start.
And once you have it well under control? While your revenues become more and more, your costs keep staying low. You spend less and less time, and you still won’t have to deal with customers who want all kinds of things.
For me, that’s the ideal revenue model. That’s why I build passive income with affiliate marketing.
Help people make the right decision and create a passive income source
Affiliate marketing, in a nutshell, is promoting other people’s products and earning commissions for doing so.
But it’s more. What you’re basically doing is helping people make the right decision when making a purchase. If you do this well and with the right intention, then you will see this reflected in your earnings overtime.
There are already so many affiliate websites. Is there still room for even more affiliate marketers?
Yes. Competition is a good signal. It means there is a market. And where there is a market, there is money to be made with affiliate marketing.
Well, you’ll have to do better than the competition. Granted, the bar is high. But, as mentioned, if you have the intention to help people make a good decision, you will see that you are ahead of competition.
Success with affiliate marketing
The secret to success is mostly in consistency and a little discipline. And also keep studying. Don’t stay still, but keep developing.
Just as a surgeon is also constantly up to date with the latest insights, so will you have to keep developing in affiliate marketing.
That brings me to the next point. You have to like it. Not necessarily what you are promoting, which many will recommend. What’s more important is that you like affiliate marketing.
In the game you have to enjoy this: optimizing your website, finding the right keywords, picking a good niche, producing content, making sure people find your website or YouTube channel.
You got to have passion! If not, you won’t last long!
Steve Jobs (the founder of Apple) once said it so beautifully…
The future of passive income with affiliate marketing
Affiliate marketing remains an essential marketing channel. For companies it is almost free advertising, comparable to word of mouth. Think of influencers, bloggers and YouTubers. They do nothing else but recommend products.
However, you will have to try harder to earn your commission. On the one hand because of the maturing of the profession, on the other hand because of developments in the field of personal data.
But I don’t see this as a big problem.
But I see this as nothing more than developments which you come across in every market. You have to move with the times, otherwise you won’t make it. That’s also how it went with cell phones.
Once upon a time, Nokia and Blackberry were unbeatable competitors, both in the business and consumer market. Until Apple came out with the iPhone. The market changed, but Nokia and Blackberry didn’t change with it. With the result? Exactly.
As long as companies make money with affiliate marketing as an outlet and as long as consumers need genuine tips and help with a purchase from independent parties, affiliates will be needed.
F.A.Q. about passive income with affiliate marketing
Do you require a website to start as an affiliate?
- You don’t need a website for affiliate marketing. You can use another channel just fine. For example, with an email list or a YouTube channel.
What products can you promote?
- With affiliate marketing, you can promote anything there is to promote.
Examples: coffee machines, bicycles, (online) courses, cars, books, seminars, tickets, travel, laptops, TVs, crochet stuff, yoga mats, essential oils, golf stuff… and much more!
How do you make money with affiliate marketing?
- When people purchase a product through your unique promotional link, you receive a percentage of the purchase price, called the affiliate commission.
Because when people click on your link a cookie is stored, the seller can see exactly who should receive the commission.
What percentage commission do you get with affiliate marketing?
- The percentage of commission you get differs per product. It can be 6%, but also 50%. And everything in between.
However, don’t stare blindly at the commission to be earned. A product with a high commission is not necessarily the product that earns you the most.
A well run product with a low commission will still give you a better return than a product with high commissions, but which cannot be sold.
How fast do you earn passive income with affiliate marketing?
- Somewhere between three months and a year, you start earning with affiliate marketing. Of course, this depends on the niche and your own efforts.
Can you get rich with affiliate marketing?
- It is absolutely possible to become rich with affiliate marketing. Plenty of examples prove it.
Just realize that this revenue model is not a quick-rich model. It is a long term effort, and it is a real profession. Starting is easy, but you also have to stick with it. Having a website and 3 posts full of affiliate links will obviously not get you there.