Affiliate marketing is performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate's marketing efforts. Affiliate marketing is commonly confused with referral marketing, which involves paying customers to refer others to a business.
Affiliate marketing is not the same as endorsement marketing, in which a company pays an endorser to promote its products or services.
It's becoming one of the most popular ways to make money online. It is an agreement between a merchant and an affiliate where the affiliate promotes its products or services in exchange for a commission on sales.
This arrangement is usually found on the internet through websites known as affiliates or networks that connect these affiliates with merchants.
Affiliate marketing is often touted as an "easy way" to make money. But like any other business venture, success with affiliate marketing requires hard work, dedication, and perseverance. It also helps to be familiar with the products you're promoting and the types of customers you're targeting.
This is a great way to make some extra money on the side. It's a simple process in which you promote someone else's product or service and earn a commission for every sale that you generate. Affiliate marketing can be a great way to supplement your income, and it's a perfect way to get started if you're new to online marketing.
There are several different ways to participate in affiliate marketing, and it's a great way to build relationships with other businesses. Affiliate marketing is an excellent option if you're looking for a side hustle.
In conclusion, affiliate marketing can be a great side hustle for those looking to make some extra money. It can be done part-time or full-time, and there are many different programs and products to choose from.
Affiliate marketing can be a great way to build a passive income stream, and it's a great way to learn about online marketing.
Average earnings
It depends on the product you are promoting. It can go from $2 for a sale to $1000.
Skills and requirements
- Computer with the internet;
- Creativity;
- Problem-solving skills;
- Technical aptitude;
- Communication skills.
Pros & Cons
Pros:
- Passive income;
- Work from home or from anywhere you want;
- Performance-based rewards;
- Learning through earning.
Cons:
- Following another company's rules;
- Not all affiliate marketing programs are created equally;
- Need a lot of patience and hard work;
Platforms
Instagram/Facebook, Amazon Associates, ClickBank, ShareASale, FlexOffers