Yesterday we’ve discussed about Residual Income and what it means – One-Time Income versus Residual Income. Today I want to expand a little more on the Residual income part by discussing how you can make money with Affiliate Marketing.
What is Affiliate Marketing?
Well it could mean different things for different people but in essence, it is a way of marketing other people’s products or services in return for a commission on each successful sale you make. It is obviously easy to sell other people’s product if you know what you are doing because you do not have to spend money in creating an item and in providing customer support.
Many people make money online today by marketing other people’s product. Sometimes they also mix it with their own products so they can make more money.
Affiliate marketing is a huge industry online. It probably rakes in about a billion dollars a year or more. Different marketers use different techniques to sell affiliate products but those that do successfully continues to make money on a regular basis. Although you don’t hear about many successful affiliate marketers, I can assure you, there are thousands of them out there quietly making money in their own niche.
I would rate Affiliate marketing over programs like Google Adsense. With an Affiliate program, you can make more money than a program that pays you for hits or click through. However, it may take many clicks to make a successful sale through the affiliate program model.
What Do You Need for Affiliate Marketing?
Well you really don’t need your own website or your own product BUT you definitely need to know how to get in front of many people. All you need to know is how to tell others of a new product or a service that you are trying to sell. Yes you are like a sales agent, a middle man for a product or service. There are tools that you can take advantage of like the Google Adwords program to get you in front of a targeted audience to make your sale pitch. These are some of the techniques you will learn in this article to be successful with affiliate marketing.
How to Take Advantage of Google Adwards for Affiliate Marketing?
Google Adwords get you in front of a targeted audience – the people that are looking for similar product or service that you are trying to sell. These people will be the best audience for you to make your sales pitch. However, it will cost you some money to run the advertising campaign but if you do a good job of planning, you will make a lot more than your investment.
Many affiliate programs offer you a sample website or document that you can put in front of the potential customer. This is why you don’t need your own website. They do everything for you. With Google Adwords, you can create an advertising campaign that will target a specific group of people. This group of people will see your advertisement and then come to your sales pitch page. On that page, all you have to do is to convince them to buy your product or service.
Making money with Affiliate Marketing is not that difficult but you need to know what you are doing. For example, with the above Google Adwords program, it is easy for you to burn through your money without getting any customers if you don’t target your advertisement properly. Therefore, you must do your homework and plan your marketing campaign when you sign up to become an affiliate of a product or a service. You have to know which keywords to target and how much you are willing to pay for each click. All of this will result in how much you make at the end.
Do you have any feedback on affiliate marketing? Please add them in our comments section for our readers.