How Does Affiliate Marketing Work?
Affiliate marketing is a referral based system where you get paid an affiliate is rewarded by means of a commission for any customers they refer to a particular product or service. Affiliate marketing is one of the most lucrative as well as most common business models in operation on the internet today.
This infographic by Bengu Marketing explains exactly how affiliate marketing works in a concise and easily digestible fashion:
Affiliate marketing is a way that many people get started online because it doesn’t have the barriers of entry that many other traditional business models do.
Here are 5 awesome reasons you should become an affiliate:
It costs almost nothing to start – affiliate marketing is unlike other business opportunities where you thousands of dollars are required in investment before you can even think about getting started. As an affiliate marketer, you can literally get started at the cost of a cup of coffee.
It doesn’t require the hiring of staff – No office bullshit and no handling of finances. As an affiliate you can do everything yourself. No boss to report to and no deadlines to meet. I will say that it is definitely something that requires discipline and you are fully accountable for the money that you make. It goes without saying that the money you make will be a direct correlation to the amount of effort and work that you put into your business.
You don’t need to create a product – There are thousands of awesome products and services already out there for you to promote as an affiliate. So you don’t need to spend months or even years coming up with product ideas, prototypes and whatever else comes with product creation. This is one of the most attractive perks to affiliate marketing. The fact that you are able to align yourself with a product or service that you love and promote that is something extremely valuable.
You don’t need to be a tech head – Being a computer expert is not a requirement for starting your own affiliate marketing business. You also don’t need to be educated to degree level to promote products and services. For example if you’re promoting products in the weight loss niche. You don’t need to have a masters degree to do this! You just need to be open to learning and understand the psychology of marketing to people.
You can earn passive income – Whenever the word passive income is thrown around I feel like most people automatically assume it is some sort of scam. However, this couldn’t be further from the truth. Affiliate marketing truly provides the opportunity for you to earn passive income once you have systems set up in place. For example, say you have a blog post that ranks highly in Google for your target keyword and you’re generating consistent traffic to your blog thanks to your high ranking, you’ll keep generating sales from that post day in, day out. Once you put the work in once, it really does pay back in dividends.
Be your own boss – As an affiliate you choose your hours. you have nobody to answer to but yourself. As long as you are disciplined and you put the work in, you can live a much more flexible lifestyle that isn’t dictated by location and time-constraints.
I’m sure you can see the appeal!