Nowadays, many people have to stay at home due to the COVID-19 pandemic. They start to think about how to make money online at home. However, do you know what is the best way to make money online at home? Let me tell you that affiliate marketing is the best possible way to make money online at home nowadays.
If you want to quit your 9-5 job and want to be your own boss, you should start your affiliate marketing journey as soon as possible. Affiliate marketing is a means to make money online anytime anywhere. You could even make money while you’re sleeping.
There are already a lot of successful affiliate marketers all over the world such as Jerry Huang, Grace aka Littlemama, and Mike Beatty. They don’t need a 9-5 job. They can do what they want to do anytime anywhere. It is because their affiliate marketing systems can generate a tremendous amount of passive income to support their daily lives. They are financially free by affiliate marketing.
- Amazing Numbers About Affiliate Marketing
- What Is Affiliate Marketing?
- How Does Affiliate Marketing Works?
- How To Get Paid In Affiliate Marketing?
- What Is The Best Way To Make Money Online At Home? Affiliate Marketing, Get Started!!
Amazing Numbers About Affiliate Marketing
Before I tell you what affiliate marketing is, let me tell you some amazing numbers and statistics about affiliate marketing.
First of all, let me introduce an excellent affiliate marketer called Jason stone, also known as Millionaire Mentor. He is a well-known Instagram influencer. He was responsible for generating as much as $7 million in retailer sales within just the months of June and July in 2017 by affiliate marketing.
Affiliate marketing fever has taken over the world. There is a 10.1% increase in affiliate marketing spending in the United States alone each year. That number will reach $6.8 billion by the year 2020. Not only is affiliate marketing 62% cheaper than traditional marketing methods, but it also simultaneously creates up to 3 times the leads of traditional marketing. Up to 16% of online orders can be attributed to the magic of affiliate marketing. 81% of brands and 84% of publishers leverage the power of affiliate marketing in the United States and these numbers will only continue to skyrocket each year.
Moreover, Amazon which is the largest online shop in the world changed its affiliate marketing structure of its Amazon Associate Program in 2017. Their affiliate commission rate changed to between 1% and 10%. This change allows affiliates to dramatically increase their affiliate commissions.
What Is Affiliate Marketing?
After hearing those amazing statistics, you must be wondering what affiliate marketing is and how to begin your affiliate marketing journey. According to Wikipedia, “Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s marketing efforts.”
Don’t understand? Let me simply tell you. You choose a product from Amazon for example, and you promote this product on your blog. When someone visits your blog and buys this product through your blog, you will earn a commission from Amazon. This is affiliate marketing. The entire sale process can be tracked by your unique affiliate links generated by vendors.
How Does Affiliate Marketing Works?
- Seller – who wants to sell products such as Amazon, eBay, and other vendors
- Consumer – who wants to buy different physical or intangible products
- Affiliate – who acts as an intermediary between sellers and buyers. An affiliate could be a blogger, YouTuber, and Instagram influencer, etc.
Unique relationships between all these 3 parties are what keeps the affiliate marketing system flowing. Let’s see how each of these relationships maintains the link.
A seller could be a large corporation such as Amazon, eBay, or a solo vendor. They have a lot of products to put on the market. These products could be physical products of various categories such as clothing, electronics, computers, toys, and cosmetics. Meanwhile, these products could also be intangible products or services such as ebooks, online courses, and membership. ClickBank is a very famous affiliate marketplace for these kinds of intangible products. Vendors could launch their intangible products on the marketplace of ClickBank and affiliates could promote these intangible products with a very high commission.
The affiliate acts as an intermediary. You and I could become an affiliate. Your duty in the entire affiliate marketing business is to promote vendor’s products to the targeted audience. Let’s take Amazon as an example. Amazon has an affiliate program called Amazon Associate Program. You firstly apply to join this program and then you will get a unique affiliate link generated from Amazon. Meanwhile, let say you have a blog, you could put this affiliate link on your blog. When someone visits your blog and clicks on your unique affiliate link, this visitor will be directed to Amazon. Finally, you will earn a commission if this visitor purchases any products on Amazon within 24 hours.
The consumer is the most important party. If there is no consumer, both sellers and affiliates could not make any money. Comparing to the traditional marketing method, the advantage of affiliate marketing is that sellers can reach their targeted audiences through affiliates more easily. Since consumers rarely pay more for a product promoted by affiliates, it is a win-win-win situation. Vendors could sell their products, affiliates could earn a commission and consumers could purchase their desired products.
How To Get Paid In Affiliate Marketing?
There are many schemes through which affiliates are paid. Some of these schemes are discussed below. These schemes usually measure the contribution of the affiliate in the sale of the product in its way.
- Pay Per Sale
- This is the most common way to get paid by affiliate marketing. Amazon Associate program is one of them. Affiliates of the Amazon Associate Program could earn a certain percentage of commission from Amazon, depending on the products they successfully promoted. For example, the commission rate of physical books is 4.5% and the commission rate of luxury beauty products is 10%.
- Pay Per Lead
- This is not a common way to get paid by affiliate marketing and it is quite complicated. Affiliates have to convince their consumer to carry out a certain task for the company such as signing up for a trial on the merchant’s website.
- Pay Per Click
- It is the easiest way for affiliates to make money if they could get a lot of traffic to their promotional platforms such as websites or social media platforms. Google Adsense is the most popular example. I think you can always see some ads on many websites. Most of these ads are Google ads. If you have a website, you could apply for Google Adsense and put these Google ads on your website. When someone visits your site and just clicks on these Google ads, you could immediately earn a commission. Therefore, it is called Pay Per Click. In a nutshell, the more visitors aka traffic you get, the more clicks and commissions you will get.
What Is The Best Way To Make Money Online At Home? Affiliate Marketing, Get Started!!
Unlike a regular job where you are paid for your active hours, affiliates are paid passively as long as their post has engagement. By investing a certain amount of time into a campaign, you will see continuous returns at that time as more and more consumers purchase the product for days and weeks after. When you are not in front of your computer, there will be still a steady flow of income.
Moreover, the affiliate doesn’t need to worry about customer support. The job of affiliates is just to link up the customer and the company. Any inquiries or complaints from customers are the issues of the company. You, as an affiliate, is no obligation to deal with these complaints or requests.
Furthermore, you can work from the comfort of your house along with a convenient and flexible schedule. You are paid based on performance. Rather than slogging for over 80 hours a week in the office, you are paid an equally stable salary through good reviews and marketing skills.
In a nutshell, what is the best way to make money online at home? I think you’re already getting the answer. Affiliate marketing is the best way to make money online at your home or somewhere else with your laptop and the internet. If you’re still finding the reasons to make money online, take a look at one of my posts. I’ll tell you the reasons why you should start your affiliate marketing business immediately.
Meanwhile, if you want to get more details and learn more skills in affiliate marketing, I suggest you join my favorite affiliate marketing training program called Wealthy Affiliate. I’m a real member of this program and there are lots of successful affiliate marketers who make a tremendous amount of passive income. If you want to get more details of Wealthy Affiliate, you could click here to take a look at my review of Wealthy Affiliate.
If you have any questions or comments about the way to make money online at home, please don’t hesitate to share below. I’d love to hear from you and I’d reply to you as soon as possible.