It’s what everyone dreams of, literally. Making money while you sleep. You put in the hard work once and then you can potentially see the results forever. I’m sure you’ve heard the term by now, but maybe you’ve never actually thought you could get into it yourself.
Well, in simple terms, affiliate marketing is a pretty easy way you, or anyone, can create your first passive income stream.
What is Affiliate Marketing exactly?
The definition of affiliate marketing is:
“a marketing arrangement by which an online retailer pays commission to an external website for traffic or sales generated from its referrals.”
So, basically it’s a mutually beneficial relationship between an online retailer and an individual, such as yourself, to help them promote their products in exchange for a percentage of revenue.
If you’re already present in the digital world with a significant following, affiliate marketing can be a great way to make some extra money on the side. It can even be fun and rewarding because you get to promote products you are genuinely interested in and that your blog readers or Instagram followers most likely are too!
What Kind of Products?
A cool part about affiliate marketing is that it isn’t just limited to just physical products.
So, that means you can promote things like online courses or services too. I think this is great because non-tangible products often have a high-ticket price and higher commissions as well.
Affiliate marketing courses and services instead of physical products can also be more rewarding when you know and believe in the success of the course and want to see others achieve the same!
How to Get Started
There’s a few easy steps to get started as an affiliate.
Step 1: Find products you like
It’s so easy to get started because there are already thousands of products on the market and probably hundreds that interest you and relate to your niche!
Step 2: Find out if they have an affiliate program
A quick Google search will help you with this.
Step 3: Sign up + start creating content
Follow the retailers instructions to sign up! It should be pretty self-explanatory. Then, brainstorm the best ways to market their specific product. Is it through videos on Youtube, blog posts or Instagram?
There it is, affiliate marketing made simple.
Affiliate marketing is an amazing way to create your first passive income stream, but also just a fun and easy way to learn some marketing skills! People make thousands of dollars a year doing this and anyone can do it, so why not you?