In this post, we’ll cover a bit more on how to generate residual income, or passive money utilizing the online method known as “affiliate marketing.”
Affiliate marketing is one way in which companies connect to consumers to offer their product or service. An affiliate drives consumer traffic to a company’s website, with the goal of converting that consumer’s traffic into actual business for the company.
For example, let’s say you have a website discussing your love for computers. As we discussed in our article on How to Make Money Blogging, you can see how easy it is to get a topic started, and to write about something you’re passionate about. Chances are, that if people are coming to read your content, that they too love computers, right? What you’d do next is sign up for an affiliate program (we’ll have more information on how to choose these coming up). Dell offers an affiliate program that pays up to 1% for sales referred through their links.
To make money with your computer site you would:
- Sign up for Dell’s Affiliate Program.
- Place Dell’s approved banner ads with your referral link onto your website.
- Drive traffic to your site!
Now, when a visitor clicks on your banner ad, then goes to Dell’s website to buy an item through your referral link, you’ll get paid 1% of the sale! Think that doesn’t sound like a lot? Well, considering the fact that computers can range in price into the thousands of dollars, 1% of $1,000 is $10. Let’s say one visitor per week were to make a $1,000 purchase at Dell through your referral link… That’s $10 per week. Multiply that times 52 weeks per year, and you’re talking about a passive, residual income of $520 for the year – JUST for that affiliate program.
The cool part about affiliate marketing is that there’s an affiliate program for almost every type of company/product or service that you can imagine. Don’t believe us? Here are just a HANDFUL of the affiliate programs that are popular:
- Home Services
- Cell phones
- Satellite TV service – these can pay BIG money!
- VoIP (Voice Over IP)
- Energy Services
- Solar panels
- Auto/Home/Life – incredibly lucrative
- Credit cards – Sometimes up to $100 per signup
- Website subscriptions
- Devices & accessories
- Dating Sites
- Niche dating (religion/occupation/race/orientation/etc.)
- Health and Wellness
- Diet/Weight Loss
- Skin Care
- Muscle/Testosterone Boosters
- Hair Loss
This is literally scratching the surface as to the type of offers you can present to the visitors to your website. In a future post, we’ll go in-depth as to how you get approved to run some of these offers, as well as how affiliate networks work, and how you can utilize them to expand your offerings.
Affiliate marketing is just one way that people earn an income on the Internet. There are a ton of other ways that you can make money, so if this isn’t appealing to you – don’t worry! There are many different options available to you. We’ll discuss those over the next several weeks.
Hopefully this gives you a basic introduction as to what possibilities exist for you. It is much easier than you might think to create an income online. It takes dedication, effort, and work in order to make it happen. Once you have some basic knowledge, the sky is the limit! In a future post, we’ll go into the basics on how to get a website up and running so that you can start blogging and begin making money online.