Making a passive income online is most people’s dream. Imagine doing the work once but being paid for it month after month. Is this really possible? Well, there are many people making a six/seven figure income with their online business in a variety of ways. In this post, I will show you how to make a passive income with affiliate marketing.
You’ve probably heard that affiliate marketing is one of the best ways to make a passive income online and I’m here to tell you that this is true! As an affiliate marketer you don’t need to have your own product, which saves you a lot of time and money. You’re main focus is to find good quality products that have an affiliate program and to get as many people to buy the product.
If you’re thinking, surely it can’t be that easy, then you are right. There are a few more pieces to the puzzle so keep reading as I will reveal all.
How To Be Successful With Affiliate Marketing
If you’re new to affiliate marketing and you are wondering, what exactly this involves, here is my simplified definition.
Affiliate Marketing is when you promote somebody else’s product and you are paid a commission each time a sale is made because someone has clicked on your affiliate link. In case you’re wondering, an affiliate link is a code or special URL the company allocates to each affiliate, which contains the affiliate’s ID or username. The company uses this to track which affiliate referred a customer and who they should pay the affiliate commission to.
The marketing of your chosen affiliate product can be done via your website or blog, your YouTube channel, a Podcast and even on social media.
To achieve success with affiliate marketing, it’s best not to focus on selling the product but to put your energy into helping other people solve their problems by providing valuable content. For example, if somebody needs help with losing weight and you give them free tips and techniques to losing weight then they are much more likely to check out the product you are promoting.
By approaching affiliate marketing in this way, you are establishing a trusting relationship with your audience. This can be done by writing helpful articles on your blog or making useful video content on your YouTube channel.
Basically, your audience needs to know who you are, they have to like you enough to listen to you, and the information you are providing them has to be trustworthy and valuable.
The Two Main Methods To Creating A Passive Income With Affiliate Marketing
Yes, you certainly can make money with affiliate marketing. However, it’s not a get rich quick scheme, so please do not believe the online scammers that try to convince you otherwise.
There are two main ways that you can build a passive income from affiliate marketing.
The first is by creating search engine optimized (SEO) content, such as a blog article or a YouTube video that promotes an affiliate product. If you focus on selecting good quality affiliate products from a reputable affiliate network, such as CJ Affiliate or Amazon, you can continue to make money from that piece of content for many years.
If you would like step-by-step training on how to correctly utilize keyword research, build your own website and create SEO content that generates affiliate commissions then check out my recommended FREE training.
The second is by selecting good quality products that have a recurring monthly commission.
For example, if you are in the tech niche and your content is about building websites, you could provide your readers value by comparing different themes. When your reader makes a purchase, if you have signed up as an affiliate, you would receive an initial commission and recurring commission for any renewals. Elegant Themes, for instance, pays 50 percent initial commission and 50 percent on yearly renewal.
Best Affiliate Marketing Products to Promote
The number one mistake in affiliate marketing, is not knowing about your product and just promoting it because it pays out a good commission.
The best products to promote as an affiliate are the ones you have actually used yourself. This way you can give an honest review to your audience and earn their trust. Also, if you have used the product yourself, your video or your article will come across as being much more authentic. Your information about the product will be much more in-depth and this will be very valuable content for your audience.
By taking this approach, you are creating a situation where your audience keeps returning to your YouTube channel or your website, just to see whether you have a review about a particular product because they trust and value your opinion and want to see what you have to say about that product before they make a purchase. In other words, you want to turn your audience into raving fans that keep returning for more!
Truly passive income
Although affiliate programs that have only an initial commission are fine, if you truly want to build passive income it’s better to focus on promoting products that have recurring monthly/yearly payments.
A good example of this in the pet niche, is trainpetdog.com
The commission you make on each product is 80 percent, which is fantastic. However, the 25 percent monthly commission is where you can truly grow your passive income.
If only one person a day signs up for the Elite Dog Owner’s Club through your affiliate link, you could earn:
- $277.5 month one
- $555 month two
- $832.5 month three
- $1,110 month four
- $1,387.5 month five
- $1,665 month six
You can see how quickly this can add up to creating a life changing amount of passive income. This calculation is based on one new person joining every day and nobody cancelling their membership.
In reality, you would have some cancellations each month. Also, you will have days when no one joins the program but you will also have days when 4/5 people join. The key is to have great content on your blog or video so that you have a good amount of regular visitors.
It’s also really important that the product you choose to promote is really good so that people continue to use it month after month, which means you continue to earn passive income.
Lastly, to increase your affiliate commissions, there are programs that have a two-tier affiliate system. In that, they will pay you a commission on any referrals made by the people who signed up using your affiliate link, which can really compound your earnings. Here is an example:
My Final Thoughts
Earning a passive income online with affiliate marketing is really possible. However, keep in mind that it’s not a sprint, it’s a marathon. You have to deliver value to your audience and be honest and trustworthy. Lastly, choosing the right affiliate products to promote is vital to your online business. Follow this simple but effective strategy and before you know it you will have passive income coming in while you’re asleep.
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