Affiliate marketing can help you make a lot of money. Before we address your query, let’s define the phrase “affiliate marketing.”
Affiliate marketing is a method of making money by referring others to products or services.
The following is how it works:
1. You come upon a product that you wish to market.
2. You become a member of their affiliate programme.
3. You’ll be given a unique link (referred to as an affiliate link) that allows the company to track who clicks on your link.
4. You use the internet to market your affiliate link.
5. You will be paid a commission if someone purchases the product.
There are dozens of affiliate programmes for a variety of products available on the internet.
Almost every company in the world has an affiliate network, and they will pay you a percentage if someone purchases a product using your referral or affiliate links.
Now for the answers to your questions:
If you have the correct audience or people who trust you, Affiliate Marketing can help you earn a lot of money.
Here are a few instances of how affiliates make money:
As an example,
You have a blog with daily traffic of 10,000 visitors. Let’s say you’re promoting a $10 product and the firm is providing you with a 30% fee, or $3 per sale. So, even if just 10 individuals out of 10,000 buy the product, your commission value at the end of the day is $30, or $30*30=$900 each month.
Similarly, if you have a telegram group/Facebook group/Email Subscribers of 10,000 individuals and you promote your affiliate link there, you will profit from those people if they buy anything through those links.
Affiliate marketing primarily operates on a niche basis, which means that each speciality has its own commission structure and set of customers.
There are a variety of niches to consider:
Amazon, Walmart, and Flipkart are examples of ecommerce.
Godaddy, NameCheap, BlueHost, InMotionHosting, Cloudways, and more web hosting companies
Udemy, Coursera, Udacity, LinkedIn Learning, Pluralsight, and other online learning platforms
Envato, ThemeForest, and other WordPress theme and plugin marketplaces
So, all you have to do now is pick a niche, start looking for appropriate consumers and start pushing your product.
Affiliate marketing is essentially a numbers game: the more people you have, the more products you can sell, and hence the more money you can make.