Yes, You can make money online without having your own product or services.
Why Affiliate Marketing
In todays Covid-19 as well as the growing internet world, more and more people are looking for ways to make money online. But, in order to make money online, you need a product or service of value to sale.
Today, people are looking for modern, quick and effective ways to generate additional income online or from home.
Unfortunately, many people don’t have anything to sale or market to people online. Lets face it, anything that you sale online should help solve a buyer’s problem or help complete some type of task.
Simply put, Affiliate Marketing is a “marketing arrangement where an online retailer or vendor pays a commission to an outside person (affiliate) or external website for traffic or sales that the affiliate generates.” Commissions paid range from 1% to 100%.
To put it another way, you market a product or service through email, websites, blogs, etc., and receive commissions when sales are made from your efforts.
History Of Affiliate Marketing
Many people believe Amazon was the creator of affiliate marketing. However, Affiliate marketing started in 1989 by a man named William J. Tobin, who was the world’s first web advertiser and marketer. William J. Tobin also founded PC Flowers and Gifts. He theorized the whole idea of affiliate marketing and propelled his program on the Prodigy Network.
The model of affiliate marketing that he created included paying the Prodigy Network a commission on each deal or sale that was being made. By 1993, Tobin’s model on affiliate marketing was producing more than $6 million yearly for Prodigy. This achievement urged Tobin to bring forward his idea to the world in 1996.
In 1994, a BuyWeb Program was launched by CDNOW, which revolved around the idea of music websites reviewing different albums of musicians released and then linking them to CDNOW so visitors can head on over to their site and buy the album if they liked them.
Amazon, which brought Affiliate Marketing mainstream started its associate program in 1996. The model they introduced was similar to the other ones and involved a paid commission to the marketer, which was a certain percentage of the price of the product sold.
Since then, this became the general model followed by all affiliate marketers.
The Affiliate Marketing Business Model
The business model of affiliate marketing is not easy to understand, but can be very financial rewarding once you understand how it really works.
On a fundamental level, affiliate marketing is marketing and payment agreement when you join a business or organization to sell their products or services for a commission.
You get paid every time a purchase is made by a customer from your online traffic and marketing.
Everyone has bought something online and most likely a company or person received a commission for the purchase you made.
Think about the Google Ads you see on the internet…When you click those ads, unless the advertisement was from the actual vendor, someone paid for that ad and will get paid commissions when sales are made.
benefits of affiliate marketing
Affiliate Marketing has provided a substantial income for a lot of people. People having success with affiliate marketing all follow a certain set of rules that are all based on a series of excellent benefits.
The top 5 benefits of Affiliate Marketing are listed below. Check out each of the benefit sections below for more details.
Affiliate Marketing is one of the few jobs, careers, or gigs that does not require a lot of experience. You can learn as you go by following some of the most basic rules of email marketing, online advertising and website promoting (blogs, review sites, etc.).
There are several strategies to have success with Affiliate Marketing. Check some of our recommended strategies and tools here. As long as you can send out SPAM free emails or properly send traffic to your affiliate link, you will see some success.
Many people are frightened to invest or start a new venture because of the current economic and health crisis we are in. Others just don’t have any real outside funds to get started in a side hustle or internet marketing.
With Affiliate Marketing, all you really need is internet access, an email address, and a computer.
To scale up your efforts, you will need a website and responsible email marketing system (autoresponder). Jumping above others also includes using paid advertising like AdWords to promote the affiliate products you are seeking commission on.
If you already have a blog or website, you are ahead of the curve. You see, a website or blog can promote affiliate products inside of related web pages, as well as scattered throughout the site.
Affiliate marketing as an industry is one with a lot of depth and width to it. It is pretty far-reaching and profitable, and one which may have over a billion-dollar’ worth in it.
Since it is a vast field, you can promote products or services that you are familiar with, as well as those that you know little or nothing about. As long as you can find the right markets to target and promote to, you will have some success.
Keep in mind though, that people buy from those that they know and trust. Therefore, you will have better success if you can become an “expert” in certain areas that you promote those related products to.
Since you are not working for a vendor or company, you work when you want and how much you want. Results do vary by the quality of time you spend in affiliate marketing – not the amount of time.
In addition, you are not required to only work with certain products and companies. In essence, you can promote for anyone, although some vendors and platforms due require approval and other requirements. This is to protect the integrity of those platforms and products.
One of the best things about Affiliate Marketing is one does not need to quit their current job. In most cases, it does not interfere with anything else that you have going on.
Think about it, you can do Affiliate Marketing in your spare time and generate additional income without interfering with your current work or income sources.