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Affiliate Marketing is the process of earning commission by promoting a company’s good or services. In most cases, this commission is earned when a web visitor is sent from one website through to a retailer’s website and goes onto to make a purchase.
For example, if you are an affiliate partner for Amazon and one of your web visitors clicks through to to make a purchase via your promotional link, you will receive a commission. It is not essential that you have a website; it is possible to achieve the same by posting your links via Social Media, Having said that, if you want to take a more structured approach to Affiliate Marketing, you will creating a website will help you do this.
Affiliate marketing can boost your household income if you can master it and for that reason it is worth considering.
I answered a question on Quora related to Affiliate Marketing that I have chosen to share here too.
Thanks for the question.
If you are thinking about affiliate marketing for your blog, here are some considerations for you.
Affiliate Marketing Considerations
Yes, you could get affiliate income in a few weeks but if you want to be realistic you should allow about a year to create significant income. On reading this, most people will no doubt click away. The article I have linked to below is one you should read.
Choice of Affiliates
Evaluate your niche and pick only the appropriate affiliates for your audience (assuming that you have built an audience for your blog). Don’t just sign up for Bluehost because the commission is quite good and you read that earn $50,000 per month from Bluehost. Those guys have a massive audience full of newbies. Maybe your audience isn’t people getting started earning money online. There are some great affiliate programs and many of them are not as well known as Bluehost and Amazon.and
Be Prepared to Earn Nothing Per Month
For every blogger proclaiming that they earned $15,000 per month from Affiliate marketing there are many more who earned nothing. That is the reality that creators of Affiliate marketing courses do not always tell you. My experience has been in the middle… sporadic earnings but no consistent income. Nice bonuses here and there but not predictable.
Evaluate Your Affiliates and Dump Poor Performers
Even affiliate programs that are strategically aligned with your blog’s purpose and vision might not work with your audience. If that is the case, after testing for a few months, dump that affiliate and replace it with a new one.
Don’t Sign Up To Too Many Affiliate Programs
Avoid signing up to too many programs. You will need to keep track of them and assess click and conversion rates; signing up to 20 programs is not what I would recommend. Think quality over quantity.
I could probably write pages about this topic but I will end it here. I hope my list of considerations/ danger signs has been useful to you.
Are you an affiliate marketer? Is it a side hustle that you will investigate? Let me know in the comments section below.
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My aim with each blog post is to help you move to a better financial future. I believe that there is not enough financial education in the national curriculum and I intend to share anything helpful that I have learned along the way. I am by no means a financial expert. None of the information on this website constitutes financial advice and is provided as general information only. This is my personal finance blog; my marketing blog is over here and I have been blogging there since 2010. I hope you have found this information useful. Thank you for reading.
*If you were wondering about the difference between a credit score and and credit rating, individuals usually have credit scores whereas businesses or governments have credit ratings. Credit ratings are expressed as letters with A being the highest as opposed to the numbers used for credit scores.