Can you get rich affiliate marketing?
Affiliates promote other people’s products and services for a profit share. If they are successful, they can make sales in their sleep using automation and other people’s products. But before you can be successful with affiliate marketing, there’s a lot to learn. Don’t believe the “guru’s” who say it’s easy! It most definitely isn’t. But affiliate marketing is a strategy which can be used to step away from the trading time for money trap.
In a job, your income is always limited if you trade time for money. Even in a well paid career, your earnings are limited because there’s only so much time in the day. But with affiliate marketing, your income is generated by selling products online. Because this process can be automated (and scaled), it’s a better strategy than selling your time; (if you want to earn a lot of money).
You can get rich affiliate marketing if you learn a strategy which works and are able to scale up to a global audience. But not every affiliate achieves this. In fact most affiliates will “dip their toe in” and quit! To get rich affiliate marketing you need to be in the 5% of affiliates who don’t quit! See affiliate marketing success rate and how much does the average affiliate marketer make.
Can You Get Rich Affiliate Marketing?
Many affiliates will struggle, especially when they are learning. Learning affiliate marketing does take some time and dedication. At first, you’ll be figuring out what works and how to make affiliate sales. Depending on your marketing strategy, it can take anywhere from months to years to generate traction. This can be a frustrating experience especially if you’re taking the longer route of content creation.
While paid marketing is a faster route, it also has a greater financial risk involved. Content marketing is a slower but cheaper method of finding customers to put your affiliate products in front of. However, if you use content marketing, such as blogging, you can, over time, generate a passive income from affiliate marketing.
Paid marketing is definitely a faster way to start generating affiliate sales though. But paid marketing is expensive so it’s worth having some high ticket affiliate products in your inventory. With high ticket products you can earn much larger commissions. Subscription affiliate programs too are worth considering if you’re thinking of becoming an affiliate. With subscription products, you can earn ongoing income passively once you make the sale. With many sales this can build up into a substantial income which requires very little or no effort to increase and maintain.
To get to this stage requires some serious commitment and work though. If you’re ready to get started you can do that here.
Get Rich Affiliate Marketing – Fastest Methods
One of the fastest way to get rich affiliate marketing is to use a high ticket sales funnel; which offers multiple products within a product range. A product range is useful for affiliates because it offers a means of making multiple sales to the same customer. While many affiliate programs only offer the opportunity to make a single affiliate commission, a product range gives you multiple earning methods:
- A low value “entry level” product – which is affordable to many
- Higher value offerings which gives the customer more value (high ticket items)
- Subscription products which pay affiliates recurring commissions
- A built in sales team, closing sales on your behalf
More on this can be found at SFM Digital Business System.
Once set up, this kind of business system can be automated and scaled up to a global audience through using paid marketing. Paid marketing works well because it is easily scaled up. This can be done by turning up your marketing budget once your business is profitable. See also how to scale affiliate marketing.
Before you get to this stage however, there’s work to be done. This involves setting up your sales funnel, landing pages and marketing platform. You’ll need to test and measure advertising strategies and campaigns until you find one which works and is profitable. This can take some time and investigation before your business is scalable.
Growth Mindset & Affiliate Marketing
There’s various affiliate marketing business models you can choose from and there’s a lot to learn. Most affiliates quit, in fact 95% do. See affiliate marketing failure rate. But with the right mindset, you can turn your affiliate skills into profit. What’s good about affiliate marketing is that once you’ve learned the skills, you can sell pretty much anything anywhere. Since affiliate marketing is a global business model, you can join any affiliate program and sell to anyone globally.
Affiliate marketing is a skill though and one which is well worth persevering to attain. With the right growth mindset, anyone can become good at promoting affiliate products through the various marketing strategies available such as:
- Blogging
- PPC – pay per click marketing
- Email marketing – see the power of email marketing
- Social media
- V’logging – video blogging
- and many others – see 22 ways to promote affiliate products.
Summary
Can you get rich with affiliate marketing? You can make a lot of money with affiliate marketing yes. However the top earners in affiliate marketing are in a minority. Checkout this article on affiliate marketing earning potential: How Much Does The Average Affiliate Marketer Make?
To make a lot of money with affiliate marketing, you need to be better than the average. Top affiliates can earn 6, 7 and even 8 figure incomes. But this doesn’t happen overnight of course! The scalability and potential of affiliate marketing is huge though and anyone can do it given the motivation and drive to succeed.
Access a video series here to learn more and get started.