1. What is Affiliate Marketing? Affiliate marketing is a method of income based on earning commissions for promoting a merchant’s products/services. Most affiliate marketing takes place on the internet through special affiliate links that can track referrals, and thus reward the referring party with a commission if those referrals result in sales. One of the largest affiliate networks is Amazon Associates. By signing up, you can literally promote any product on Amazon’s website, ranging from televisions to toilet paper to children’s toys. Considering the rapid growth of the internet and endless number of affiliate options, affiliate marketing is an attractive avenue for income. As the online landscape continues to grow, it only presents more opportunities for profit and reels in more potential customers. You can learn more about the necessities of a successful affiliate marketing business through The Ultimate Guide.
2. What is an Affiliate Marketing Niche? A niche is the topic or direction of your affiliate marketing business. It needs to be something you’re passionate and knowledgeable about so that you can present yourself as an authority in that particular field. This distinct segment of the market is your target audience, and you must be careful not to choose something too broad, and at the same rate, it can’t be too narrow. For example, the niche “Health” may be too broad, but the niche “Leg Exercises for People in Oak Hill, Florida” may be too limited. You want your niche to be focused, but not too focused as to limit your income potential drastically. Choosing a niche can present itself as a tricky proposition for new affiliate marketers, but there are a few more Key Considerations to take into account to help you choose wisely.
3. Does Your Recommended Online Business Building Service, Wealthy Affiliate, Offer a Free Trial? Wealthy Affiliate does, in fact, offer a try-before-you-buy experience through their Free Starter Membership. You can stay a free member as long as you’d like, but it is limited in terms of the training and features. Nonetheless, the free education and capabilities still make for a better service than many other online business building services out there claiming to be legitimate. It couldn’t hurt to give it a try if you’re an aspiring online entrepreneur looking for a step-by-step approach and supportive community. The best part of the free membership is the 2 websites you’ll receive, which allows you to see the results of the training for yourself and decide if Wealthy Affiliate is right for you. WA is one of the only online business building services that offers a never-ending free trial, which exemplifies the confidence they have in what they’re offering. The owners, Kyle & Carson, believe the premium membership will sell itself after you get a taste.
4. How Much Does it Cost to Start an Affiliate Marketing Business? One of the most attractive aspects of affiliate marketing is the fact that it’s cost-friendly. As opposed to your typical startups these days that can cost upwards of $50,000, an affiliate marketing business can be started and maintained for about $300-500 per year, sometimes less. In all honesty, the most expensive part is the Wealthy Affiliate yearly membership for the top-notch training and support. The question you really need to step back and ask yourself is: Can You Afford Not to Pursue Your Passion? For $1-2 per day, you can run a full-time business through your own professional website. You can check out every expense I’ve incurred to build this website in this post: What is the Cost of Starting an Online Business. I can count all of the expenses on one hand and some aren’t even necessary.
6. What Books Do You Recommend For Beginners? I highly recommend any books written by Scott Fox, most notably Click Millionaires & Internet Riches. Before I ever got started with actually building websites with Wealthy Affiliate, I read these two books for guidance and inspiration. In the back of my mind I knew there was a possibility I could turn a website into a full-time income-generating business, but these books provided me with expert tips, action items, and real-life examples to believe it. They truly jumpstarted my online presence and I probably wouldn’t be where I am today without these works. Keep in mind that they are relatively cheap ($10-20), so if you’re looking for a soft launching point for your online business ventures, this is a great place to start your journey.
7. What Are the Benefits of Affiliate Marketing? There are numerous benefits to affiliate marketing, with the most important one being it doesn’t require you to produce your own product or service. You can earn an income by simply promoting and sharing the benefits of existing products and services. For this reason, research & development costs are unnecessary, there’s no reason to hold inventory, and customer service is provided by the merchant you’re promoting. Your job is simply to market and sell products, and the rest of the business responsibilities can be left up to the merchant. In addition to this, there are also lifestyle advantages to consider. With a working laptop, you can work from wherever you want, whenever you want. There’s no boss assigning you projects and deciding which hours you need to work. It’s your chance to build a business focused on a topic you’re passionate about, characterized by a flexible and fulfilling lifestyle. The #1 benefit is this: it’s free and easy to Get Started With Wealthy Affiliate.