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This article was written by Mike Peters, founder of the Yomali group of companies, XPRIZE Foundation board member, and an Advisor in The Oracles.
We’re in the midst of a difficult time in history. The COVID-19 pandemic is causing a health crisis, and both the economy and jobs are suffering as a result.
While many of us can work from home, others cannot. But if a silver lining exists, perhaps it’s this: Now is the perfect time to learn a skill or launch a new career. Affiliate marketing gives you that opportunity.
So I spoke with Anna Gita, CEO of MaxWeb, our affiliate marketing network. Here she explains how to start a potentially lucrative career by working from home as an affiliate marketer.
What is affiliate marketing?
Affiliate marketers are “traffic partners” who help online companies get customers and are paid a commission for every sale they send to a brand’s website. You can work with big brands like Victoria’s Secret and small brands that sell products on Amazon.
Affiliate marketers aren’t just social media influencers or bloggers. Have you ever shopped for a product online and then seen ads for similar products on Facebook the next day? That’s affiliate marketing. You can also use any traffic-generating approach like email, Google advertising, and TikTok.
Why is this a good opportunity right now?
Affiliate marketing can be a lucrative business with real financial stability, and there’s great growth potential because it’s a relatively unknown opportunity. It’s similar to starting an Amazon business but simplified because you’re selling others’ products instead of your own.
Getting started is low-risk because expenses are minimal. You can market to your existing social media followers for free or set daily spending limits like $20 on Facebook ads while testing what works.
You can get paid $100 per customer; so if you send 500 customers in one day, that’s $50,000 — which is what many affiliates make.
But what’s especially relevant today is this: You can work from home and get started by investing just a few hours a day. Many courses and resources can help you learn and practice as a side hustle while maintaining your day job.
Why do companies use affiliate marketers?
When brands spend money on advertising, they’re paying for “traffic” or website visitors, but there’s no guarantee it will convert into paying customers.
Rather than hiring a marketer or figuring out how to get customers on their own, brands can leverage affiliates’ expertise for attracting customers with a performance model where they pay a predefined commission per sale, meaning they invest nothing upfront.
What do you need to become an affiliate marketer?
All you need is a laptop and an internet connection; but to succeed, you also need a growth mindset. With a fixed mindset, you get stressed out when faced with a problem; with a growth mindset, you’re excited about learning new things.
If you enjoy learning, you’ll do well. Like any new business, you have to put in the work and teach yourself, but it’s relatively simple. If you’re committed to investing a few hours a day, that’s more than enough.
How do you start?
First, choose what kind of affiliate marketing you want to do. I recommend starting with something easy, like Facebook or Google advertising. You don’t need an email list or Instagram followers to be an affiliate marketer, but if you have them, take advantage by focusing on email marketing or Instagram.
Stick with just one platform and focus on mastering it. You can do your own research on forums like OfferVault and Stacked Marketer. Then once you have a stable income, you can expand your horizons by learning new platforms.
While you can work directly with brands, it isn’t easy — especially when you’re new, and they don’t know or trust you. That’s why affiliate networks like MaxWeb exist.
What are affiliate marketing networks?
Affiliate networks bridge the gap between brands and affiliate marketers. They provide language (copy) and graphics you can use, a unique link to track your conversions and other metrics to improve your campaigns. They also ensure the brand websites are optimized, so your visitors convert into customers and you get paid.
How do you find the right network?
Choose a network that has a good reputation and offers tested content and creative, tracking and tech support, and reliable cash flow. Look for networks that test everything for you and will pay you on time, at least weekly. Research “affiliate marketing networks” for recommendations and reviews; online communities and Facebook groups are an excellent resource.
Don’t worry about making $50,000 per day initially. Focus on earning the equivalent of your annual salary while working fewer hours. Earning a few hundred dollars a day is achievable with a growth mindset and effort.
No matter what uncertainty you’re experiencing right now, I’m here to tell you: it will improve, and a lucrative career is possible.
Connect with Mike Peters and Anna Gita on LinkedIn or visit MaxWeb.
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