Affiliate marketing is one of the most popular ways to make money online. And it’s a great way for beginners to get started.
In fact, affiliate marketing for beginners 2023 is expected to be even bigger and better than it was in 2020.
Because more and more people are buying online and companies are looking for ways to reach new customers.
And what better way to reach new customers than by partnering with people who already have an audience?
Enter affiliate marketing.
What Is Affiliate Marketing?
Affiliate marketing is a performance-based marketing strategy where businesses pay commissions to affiliates for referring new customers.
The affiliates promote the business’s products or services on their own channels—usually their website, blog, or social media profile—and earn a commission on every sale they generate.
It’s a win-win: businesses get more customers, and affiliates get paid for driving sales.
How Does Affiliate Marketing Work? Let’s say you have a blog about fashion. You write a post about the latest trends and include a few links to products you think your readers would love. One of the products you link to is from a company that has an affiliate program. When someone clicks on your link and makes a purchase from the company’s website, you earn a commission. That’s it! You don’t have to do anything else; the company takes care of shipping the product, processing the payment, and customer service. All you have to do is drive traffic to their site and earn commissions on every sale. While it sounds simple enough, there’s a lot that goes into being a successful affiliate marketer—from choosing the right products to promote to building an audience that will actually click your links. We’ll go into all of that below. But first, let’s answer some common questions about affiliate marketing:
How Much Does Affiliate Marketing Cost? The great thing about affiliate marketing is that it doesn’t cost anything upfront; businesses only pay affiliates when they generate sales. That means you can start promoting products without spending any money yourself! Of course, there are costs associated with running a website or blog (like hosting fees and domain names), but those are separate from affiliate marketing expenses. How much you can potentially earn as an affiliate depends on two factors: the commission rate offered by the business you’re promoting, and how much traffic you can drive to their site. A high commission rate will make up for lower traffic numbers, and vice versa. For example, if a company offers a 20% commission rate but you only drive 100 visitors per day to their site, you would only generate $20 per day in commissions (100 x 0.2 = 20). But if they offer a lower 10% commission rate but you bring in 1,000 visitors per day, you would generate $100 per day in commissions (1,000 x 0.1 = 100). So while higher traffic numbers are always ideal, don’t discount businesses with lower rates—you might be able to make just as much (or even more) money promoting them! How Long Does It Take To Start Making Money With Affiliate Marketing? This is another great thing about affiliate marketing: there is no “start up time” where you invest money before making any back. You can start promoting products immediately after joining an affiliate program—and start earning commissions right away! Of course, it takes time to build an audience large enough to generate significant traffic (more on that below), but once you have traction, there is no limit to how much money you can make with affiliate marketing