Affiliate marketing is one of the most sought-after tools of internet marketing strategy. It is a method of promoting business products or services on the network that guarantees the affiliate marketer a monetary reward for every subscriber, visitor or sale made thanks to the execution of the marketing strategy.
So, an affiliate marketer is someone who sells the product or service of another person or company. Despite the popularity of this internet marketing method, many wonder how much affiliates make and whether this job is worth the effort it requires.
There is no doubt that the affiliate marketing industry today offers many developments and earning opportunities. Therefore, according to Statista, the average US affiliate marketing revenue will reach $8.2 billion in 2022.
In addition, the industry continues to grow, as evidenced by the fact that the average revenue was $5.4 billion in 2017 and just $1.6 billion in 2010.
How affiliate marketing makes money
If you’re specifically concerned with marketer earnings, pay attention to the VigLink survey. It states that 9% of Experts received more than $50,000 from various affiliate programs in 2016.
There are also great examples of successful affiliates who have become role models for many newcomers:
- Pat Flynn increased his monthly income from $8,000 to $100,000 in two years
- OnlineMediaMasters’ Tom grew his income from $20,000 to $150,000 in two years
- Doug Cunnington managed to make $70,000 from a single website in 2017
Of course, beginners must first adjust to modest gains. The truth is that in this industry everything depends upon experience and reputation. Therefore, in order to earn large sums of money from the affiliate marketing service, it is necessary to become a sought after professional.
Here is an approximate pricing system:
- Beginner with no experience – $1000/month
- Advanced Specialist – $1,000 to $10,000/month
- Advanced Marketing Professional – $10,000 to $100,000/month
- Pro: $100,000/month and up
How to become an affiliate marketer
The functioning rule of associate promoting is like that of the reference administration. An affiliate marketer creates an online platform (website, social media account, blog) and signs up for affiliate programs relevant to the target audience. While utilizing partner organizations, putting the connection on the website is vital. Each click on the link and subsequent action, including the purchase of the product, will earn you a percentage of the company’s revenue as a commission.
Becoming a successful affiliate requires the following:
- Please select a valid business field
- Deliver quality content
- Use the best affiliate marketing program
Select a valid business field
Choose the niche you are good at. It is important that the marketer knows the target audience to sell the product or service. You need to consider the needs, preferences, fears, wants, and requirements of potential customers.
Deliver quality content
Recall that your benefit relies upon the nature of your work. Any type of content you provide must be relevant and compelling. Also, high-quality content increases your reputation and increases your chances of earning higher commissions. Where everybody needs to recruit an advertiser with an arrangement of incredible undertakings.
Use the best affiliate marketing program
There are many affiliate marketing programs and services out there, and you should familiarize yourself with the key features of each to find the one that best suits your current work style and project. Choosing an affiliate marketing program has a big impact on the technical side of your job, so it’s important not to make mistakes.