When starting my online money-making journey at the age of 15, I was struggling to come up with a strategy that would help me achieve my dream of securing financial independence.
Over the years, I tried my hand at just about every type of online monetization strategy under the sun, even selling through Amazon FBA. But it wasn’t until I stumbled upon affiliate marketing that I truly started to see some serious profits.
In many ways, discovering affiliate marketing was a game-changer for me as it opened up a whole new world of opportunity. Not only was it a more passive way to make money (compared to other online business models), but it also allowed me to tap into new markets and reach a wider audience.
With this in mind, I wanted to create this comprehensive guide to cover just about everything you need to know about affiliate marketing, from what it is and how it works, to its benefits and some helpful tips.
In many ways, I wish I had this guide before I started my journey so I would have had a better idea of what I was getting myself into, and could avoid some of the mistakes I made along the way.
What Is Affiliate Marketing?
First things first, it’s important to point out that affiliate marketing is big business. By the end of 2022, it’s expected that a whopping $13 billion will have been spent on affiliate marketing globally, and that number is only going to grow in the coming years.
With all that money being thrown around, you might be wondering if affiliate marketing is worth your time. After all, who wouldn’t want to get a piece of that pie?
But, before we dive into whether or not affiliate marketing is worth your time, let’s first take a look at what it actually is.
In short, affiliate marketing is a type of online marketing where you, as the affiliate, promote a merchant’s products or services in exchange for a commission. To give you a better understanding of how it works, let’s take a look at an example.
Let’s say you come across an online store that’s selling shoes. You really like the store and decide to become an affiliate.
Now, every time you share a link to the store’s website with your audience, and someone clicks on it and makes a purchase, you earn a commission. The more people that click on your link and buy from the store, the more money you make.
It’s important to note that, in order for this to work, the customer needs to click on your unique affiliate link. This is how the merchant recognizes that it was you who sent them the customer, and how they keep track of your commissions.
Who Can Be an Affiliate Marketer?
One of the best things about affiliate marketing is that just about anyone can do it.
You don’t need to have your own product, you don’t need to be an expert in marketing, and you don’t need a huge audience. As long as you’re willing to put in the work, anyone can find success.
In fact, one of my preferred methods of affiliate marketing (besides SEO) is through PPC advertising. This method doesn’t even require a website. All you need is an account with an ad network and a landing page and you’re good to go.
Of course, there are a few restrictions that you may encounter for legal reasons.
For example, if you want to promote alcohol, tobacco, or gambling-related products, you may need to be of a certain age (depending on your location and the platform you are working with) before you can begin.
Other than that, though, there are no real age, experience, or skill requirements. So, if you’re looking to start making money online, affiliate marketing could be a great option for you.
Best Niches for Affiliate Marketing
If you are looking to get involved with affiliate marketing, you may be wondering what the best niches are. To be honest, there is no definitive answer to this question, since just about any type of product or service can be successful if promoted correctly.
That being said, there are definitely some niches that tend to be more profitable than others. Here are a few of the most popular (and lucrative):
SaaS
This is an acronym for “software as a service,” and refers to software that is delivered online and accessed through the internet. SaaS products are typically subscription-based, which means they generate recurring revenue (and commissions) for affiliates.
For this reason, SaaS is one of my favorite affiliate niches since it makes up a large percentage of my monthly revenue. Currently, besides many SaaS affiliate programs, I am part of the Anyword affiliate program which is paying a 40% recurring commission. Because the payments are recurring, I can better predict (and budget for) my monthly earnings.
Here are my payouts for the last few months:
Nutra
This is a broad niche that covers anything related to health, fitness, and nutrition. People are always looking for ways to improve their health and fitness, and they are willing to spend a lot of money on products that can help them do so.
This means that there is a lot of opportunity for affiliates in this niche. And, since health and fitness is an evergreen niche (meaning it will always be relevant), you can expect to generate a lot of long-term revenue by promoting Nutra products.
Once again, Nutra is another one of my top-performing niches. Working with NutriProfits, I earn between 30-40% and also earn from recurring commissions. Here are my latest earnings:
Personal Finance
This is another huge and evergreen niche with a lot of potential for affiliate marketers. People are always looking for ways to save money, make money, and invest money.
And, since most people will never be financial experts, they are willing to pay for products and services that can help them improve their financial situation. This makes personal finance a great niche for affiliate marketing.
However, there are a lot of regulations and restrictions that come with promoting financial products, so be sure to do your research before getting started.
Technology and Digital Services
This is a broad niche that covers everything from computer hardware and software to internet services and digital products.
The technology industry is always changing and evolving, which means there is always a need for new products and services. This makes technology a great niche for affiliate marketing since there is always a demand for new products. On top of this, most tech products are expensive, which means you can earn a lot of commissions by promoting them.
Cryptocurrency
Cryptocurrency is a digital asset that can be used as a medium of exchange. Cryptocurrencies are decentralized, which means they are not subject to government or financial institution regulation.
This makes cryptocurrency a very volatile (and potentially profitable) asset for investors.
And, since there is a lot of interest in cryptocurrency right now, it is also a great niche for affiliate marketing. Just be sure to do your research before getting involved, since the cryptocurrency market is highly unpredictable.
Travel
People love to travel, and they are always looking for ways to make their travels more enjoyable, affordable, and safe. This makes travel a great niche for affiliate marketing.
There are a lot of different products and services you can promote in this niche, such as travel insurance, airfare, hotels, and more. There are plenty of ways you can get creative with this niche and earn a lot of commissions.
Pet Care
This is a huge niche with a lot of potential for affiliate marketing. With the industry valued in the billions, there are tons of affiliate schemes you can join to start promoting pet products.
Some potential product ideas include pet food, pet toys, pet insurance, and more. And, since people are very passionate about their pets, they are often willing to spend a lot of money on them. This makes pet care a great niche for affiliate marketing.
Best Affiliate Marketing Programs & Networks
There are hundreds of different affiliate marketing programs & networks out there, each with its own set of benefits and drawbacks. It can be tough to decide which one to go for, especially when you don’t have any experience in the industry.
Unfortunately, you won’t know whether or not a program is good for you unless you try it. But, with that being said, here are a few affiliate marketing networks that are popular among beginners and experienced marketers alike (as well as a few of my personal favorites):
- Nutriprofits (30-40% recurring commissions)
- Anyword.com (40% recurring commissions)
- ClickBank
- MaxBounty
- ShareASale
- CJ
- Rakuten Marketing
Tips to Make the Most Out of Affiliate Marketing
While there aren’t many barriers to entry, it’s important to remember that affiliate marketing is a highly competitive field. In order to get ahead, and stay ahead of the competition, you need to be strategic about your affiliate marketing efforts. Here are a few tips that can help:
Find a Niche With High Demand and Low Competition
The holy grail of affiliate marketing is to find a niche with high demand and low competition. This means there are a lot of people interested in the products or services you are promoting, but not a lot of other affiliates competing for the same commissions.
To find a niche like this, you can do some research on popular keywords and see how many people are searching for them. You can also check out affiliate directories to see which niches are represented the most.
Research Affiliate Programs Before Joining
Before joining an affiliate program, it’s important to do your research and make sure it is a good fit for you. There are a few things you should look for, such as high commissions, a good reputation, and a user-friendly interface.
You should also make sure the program offers products or services that are relevant to your niche. If it doesn’t, then it’s probably not worth your time.
Promote Products That You Believe In
When you are first getting started with affiliate marketing, it is important to pick the right products. You want to choose products that you believe in and would feel comfortable selling.
A general rule of thumb I think is good to stand by is that you should only ever promote products that you would feel comfortable purchasing yourself.
Monitor Your Results and Adjust Your Strategy Accordingly
Once you start promoting products as an affiliate, it is important to monitor your results and adjust your strategy accordingly. This means keeping traMonitor Your Results and Adjust Your Strategy Accordinglyck of your click-through rate, conversion rate, and commission rate.
If you see that something isn’t working, don’t be afraid to change it. There are a lot of different variables that can affect your success as an affiliate, so it’s important to always be tweaking and adjusting your strategy.
Learn How to Become a Better Copywriter
One of the most important skills you can learn as an affiliate marketer is copywriting. This is the art of persuasion using the written word, and it is what will ultimately make or break your success.
If you can learn how to write compelling copy, then you will be able to sell just about anything.
Of course, becoming an expert copywriter is not something that happens overnight. It takes a lot of practice and effort. However, if you are serious about making money through affiliate marketing, then it is worth your time to learn this skill.
When to Avoid Affiliate Marketing
Now that we have gone over all of the things you need to do to be successful with affiliate marketing, there is one more thing I want to cover: when to avoid affiliate marketing.
After all, there are a million and one ways to make money online, and affiliate marketing isn’t going to be a good fit for everyone. Here are a few signs that you should avoid affiliate marketing:
You Don’t Like Selling
If you’re the type of person who hates selling, then affiliate marketing is probably not for you. This is because, at the end of the day, affiliate marketing is all about selling products or services. If you can’t stomach the thought of promoting something, then you probably won’t be very successful at it.
You’re Not Patient
Another reason to avoid affiliate marketing is if you’re not patient. This business takes time to grow and develop. It’s not a get-rich-quick scheme, so don’t expect to start making money overnight. You need to be willing to put in the work and wait for the results. If you’re not patient, then you’ll probably get frustrated and give up before you see any success.
You’re Not Willing to Learn
The last reason to avoid affiliate marketing is if you’re not willing to learn. This business requires a certain level of skill and knowledge, and if you’re not willing to acquire those things, then you won’t be successful. Of course, learning takes time and effort. However, if you’re not willing to do that, then affiliate marketing is probably not for you.
You Don’t Have Any Money to Invest at the Beginning
As the old saying goes, “you need to spend money to make money.” This is especially true in affiliate marketing. Depending on the strategy that you want to use, you may need to invest money to drive traffic and get your affiliate content in front of your target audience.
For example, if you want to use pay-per-click advertising, then you’ll need to have some money to spend on ads, which can get pretty pricey – especially in competitive niches.
With that said, there are plenty of ways you can do affiliate marketing without breaking the bank, but at the very least you will need to spend some money on a domain name and hosting so you can start a blog.
Final Thoughts
In my opinion, affiliate marketing is one of the best ways to make money online. Not only is it accessible and achievable for just about anyone, but it also has the potential to be very profitable.
On top of this, if you find a winning recipe, it’s very easy to scale up your business and make even more money, which is something that can be very difficult to do with other online business models.
With that said, the industry is highly competitive, and you will need to be willing to invest plenty of time into learning the ropes and perfecting your craft. For me, this is all a small price to pay for something that has the potential to be so profitable.
At the very least you can develop a very sought-after skillset that will serve you well in any number of other online businesses, not to mention when seeking out traditional employment in the digital marketing space.
