Regardless of how many readers you currently have, affiliate marketing is one of the easiest ways to start making money from your blog. And in this article, we show you how to get started!
Quick question. How do you generate enough recurring passive income as a blogger to live the life of your dreams? You could try affiliate marketing. Alternatively, you could create self-study courses or even start a signature coaching program.
Each of those three are fantastic monetization models.
To maximize your income, you could even pursue all three simultaneously.
A note of caution though…
When you’re just starting out and working towards your first $1,000 a month in recurring income, it’s probably advisable to focus on one model at a time.
In this article, our will focus will be on affiliate marketing, simply because it’s arguably the easiest of the three monetization models. It’s also probably one of the fastest ways to earn passive income from your blog.
That’s right.
In our experience, affiliate marketing is one of the easiest ways to start making money from your blog. And this is regardless of how many readers you currently have.
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Affiliate marketing is here to stay
Don’t listen to the naysayers and prophets of doom. They would have you believe that Affiliate marketing dead.
Far from it!
Affiliate marketing delivers more
According to CJ Affiliate, one of the largest affiliate networks, the affiliate channel delivers 88% more revenue than other channels.
Using their “affiliate incrementality calculator”, CJ Affiliate found that compared to other channels, when affiliate is in the mix, brands see higher conversion rates, higher AOVs, more orders per customer, which compounds to deliver 88% higher revenue per shopper.
ACJ Affiliate goes further to say that affiliate marketing is the only channel that reaches and influences consumers worldwide, at every part of their purchase journey, both on and offline
That’s the power and relevance of affiliate programs.
Growing in leaps and bounds
In truth, over the past decade, affiliate marketing has grown in leaps and bounds. This is obviously due to more and more customers choosing to buy products and services online. The global affiliate marketing industry pre-COVID-19 was worth well over $12 billion.
It’s probably worth even more now, post COVID-19 because during the worldwide lockdown, most people turned to the internet for answers. As a result there’s been a huge spike in online shopping.
Bluehost affiliates earned more commissions during lockdown
For example we are part of the Bluehost affiliate program. And we recently received an email from Bluehost informing us that their “affiliate program saw over $9 million in combined commissions paid for [the first and second quarters of 2020]. With [the second quarter of 2020 when the world was in lockdown] leading the charge seeing over $5 million in commissions paid, making that the best quarter in the history of our program.”
So, as you can see, affiliate marketing is still going very strong. It’s therefore no surprise that more and more people want to become affiliate marketers to earn a passive income online.
Here is the reality.
Affiliate marketing is here to stay.
And even if you’re a new blogger, becoming an affiliate marketer and joining the right affiliate programs can be incredibly lucrative.
It’s so lucrative that we recommend it to all our readers.
However, with thousands of affiliate programs—and more being added every day—where do you start? In this blog post, we will provide the guidance you need to become an affiliate marketing guru.
But first, what is affiliate marketing?
What is affiliate marketing?
Affiliate marketing is a type of performance-based marketing. Here, a business or merchant or brand pays a commission or bounty to an affiliate for each visitor or customer brought by the affiliate’s own marketing efforts.
The four parties to affiliate marketing
According to Wikipedia, for affiliate marketing to work, there should be at least four important participants or parties:
#1. The merchant (also known as ‘advertiser’ or ‘retailer’ or ‘brand’).
Advertisers sell products, experiences, and services and reward publishers for driving desired results.
#2. The network
The network usually contains offers for the affiliate to choose from. In most cases also it also takes care of the payment of commissions.
The networks usually cultivate partnerships between the merchants and affiliates within using cutting edge technology. This collaboration significantly expands a merchant’s audience and growth potential and enables affiliates to monetize their efforts.
#3. The publisher (also known as ‘the affiliate’).
Affiliates or publishers engage consumers through a variety of distribution models. These include websites, social media, search, email, mobile apps, offline marketing and much more.
#4. The customer (also known as the ‘buyer’ or ‘visitor’).
The buyer is the customer or consumer. If web-based, they would usually click through a link from the affiliate or publisher to the merchant or advertiser.
Not the same as referral marketing
Affiliate marketing is sometimes confused with referral marketing because both types of marketing use third parties to drive sales to the merchant or brand.
However, these two forms of marketing can be distinguished in the way they drive sales. Affiliate marketing relies purely on financial mot