My next self-funded business hit $160,000 in revenue in its first year alone. After that first taste of self-made success, I’ve gone on to sign consulting contracts worth tens of thousands of dollars with startups like LinkedIn and Google, launch profitable online courses, and build a following of hundreds of thousands for this blog and my podcast series.
The truth is much more complicated. It’s true that affiliate programs can be sources of phantom revenue and off-brand promotion. But managed properly, they can also make up 5-15 percent of online revenue and have an ROI among the highest of any online channel. CMOs are realizing that affiliate marketing can be an important part of their arsenal and are integrating the channel into their overall marketing strategies.
Freelancing has always been a popular way to earn money online and the Internet has a plethora of options. There are several websites offering freelance tasks for people with varying skills. All you need to do is to create your account, browse through the listings, and apply for the task that suits you. Some websites may even require you to create a personal listing with the details of your skillset, so that interested clients can contact you directly. Outfiverr.com, upwork.com, freelancer.com, and worknhire.com are some websites that provide freelance jobs. You can earn anywhere between $5 and $100 through these websites.
No matter how good your marketing skills are, you’ll make less money on a bad product than you will on a valuable one. Take the time to study the demand for a product before promoting it. Make sure to research the seller with care before teaming up. Your time is worth a lot, and you want to be sure you’re spending it on a product that is profitable and a seller you can believe in.
Focus on reviewing products that fall within your niche. Then, leveraging the rapport you have created with your audience and your stance as an expert, tell your readers why they would benefit from purchasing the product you are promoting. It is especially effective to compare this product to others in the same category. Most importantly, make sure you are generating detailed, articulate content to improve conversions.
The problem with affiliate marketing, like many other home business options, are the so-called gurus and get-rich-quick programs that suggest affiliate marketing can be done fast and with little effort. Odds are you've read claims of affiliate marketing programs that say you can make hundreds of thousands of dollars a month doing almost nothing ("Three clicks to rich!"). Or, they suggest you can set up your affiliate site, and then forget it, except to check your bank deposits.