How to build a passive income with Affiliate Marketing

Affiliate marketing is a business model that has gained popularity over the years, with its potential to generate passive income for affiliates. In this article, we will discuss what affiliate marketing is, it's history, how to start an affiliate marketing business, and the potential income that can be earned.

What is Affiliate Marketing?

Affiliate marketing is a performance-based marketing model where affiliates promote a merchant's products or services to their audience in exchange for a commission on sales made through their unique affiliate link. Essentially, affiliates act as middlemen between the merchant and the consumer.

The History of Affiliate Marketing

The concept of affiliate marketing dates back to the 1990s when William J. Tobin launched PC Flowers & Gifts. The company allowed its affiliates to place banner ads on their websites, which led to the first affiliate commission being earned. In 1996, Amazon launched its affiliate program, Amazon Associates, which allowed affiliates to earn a commission on sales generated through their links.

Amazon Associates is Amazon's affiliate program where affiliates earn a commission on sales generated through their unique affiliate link. As an affiliate, you can choose to promote any product on Amazon's website, and when a customer clicks on your affiliate link and makes a purchase, you earn a commission on that sale.

The Growth of Affiliate Marketing and Potential Income

Over the past decade, affiliate marketing has grown exponentially and is now a billion-dollar industry. According to several reputable sources, such as Business Insider, eMarketer, Forrester Research, and the Digital Marketing Institute, spending on affiliate marketing in the US is expected to reach $5.4 billion to $8.2 billion by 2022. This growth can be attributed to an increasing number of businesses adopting the model and the rise of social media and influencer marketing.

Affiliates have the potential to earn significant income through commissions. According to VigLink, the average commission rate for affiliates is between 5% to 30%, with some programs offering commission rates as high as 50%. The potential income for affiliates is unlimited, and with the right strategies and tools, it's possible to earn a full-time income through affiliate marketing.

How to Start an Affiliate Marketing Business

The Freedom Accelerator & 72 Hour Freedom Challenge is a program by Jonathan Montoya that shows you how to leverage email marketing and organic content to create a 6-figure business from scratch. Here are the steps to start your affiliate marketing business using this program:

Step 1: Take a Course To start your affiliate marketing business, it's important to educate yourself on the fundamentals of affiliate marketing. The Freedom Accelerator & 72 Hour Freedom Challenge is a great place to start as it provides comprehensive training on affiliate marketing.

Step 2: Pick a Niche Choose a niche that you're passionate about and can provide value in. This could be anything from health and wellness to personal finance.

Step 3: Find a Product that Solves a Problem in that Niche Look for products that solve a problem in your chosen niche. The Freedom Accelerator & 72 Hour Freedom Challenge is a great product to promote as it teaches people how to create a successful affiliate marketing business.

Step 4: Build an Audience Build an engaged and loyal audience through social media and content creation. This could include creating a blog, podcast, or YouTube channel.

Step 5: Build an Email Auto Responder and Funnel Set up an email auto responder and funnel to effectively nurture your leads and make sales on autopilot. The Freedom Accelerator & 72 Hour Freedom Challenge provides training on how to do this effectively.

Affiliate marketing is a lucrative business model that has the potential to generate passive income for affiliates. With the right strategies and tools, it's possible to earn a full-time income through affiliate marketing. As the industry continues to grow, it's a great time to start an affiliate marketing business and take advantage of the earning potential it offers.

Sources:

1. Business Insider: https://www.businessinsider.com/affiliate-marketing-tips-to-get-started-business-advice-2021-5

2. eMarketer: https://www.insiderintelligence.com/content/affiliate-marketing-2022

3. Forrester Research: https://www.forrester.com/blogs/marketing-growth-will-accelerate-in-the-post-pandemic-era/?ref_search=0_1682914548170

Laney Digital utilises affiliate links and may be paid a small commission from purchases made on links within this content. This is all at no extra cost to you. Please read the full disclosure statement here