I am guessing you have been looking for a way to make money online. You need something that will augment your income needs. You’re probably making a living with a project- based job. And for years that gets your bills paid. The problem is …
- you’re getting tired of not having a steady source of income.
One month you’re stacked with cash. And just after finishing your project the money stops coming in for a while.
- It takes a long while before getting another project
Sometimes it takes months before getting another project. And with how little money you have left before getting another project. You’re not getting anywhere with your life
- You’re seeking a better way to make a living
You have asked yourself if there is another way to make money while still working on your projects. And if you only knew other means to make a living you know you will grab it. The problem is you don’t know.
And you’re seriously pondering getting a full-time job.
A regular 9-5 job is not the only option
Now I am not saying getting a full-time job is a bad thing. It’s a good thing; the problem is people think it’s the only way to make a living. This is not true anymore
Now let’discuss the advantages and disadvantages of a regular 9-5 job.
In a regular job you have
- a steady paycheck
- fixed schedule
- fixed working location
- Safety, or at least we think it’s safe
Although having a full-time job is a good thing. One thing people fail to realize is that we tend to ignore the disadvantages of a job
Disadvantages of a 9-5 job
- Income is directly proportionate to earning
This means what you make in a month is equals to the number of hours spent in it. Nothing more nothing less. Although this is the accepted norm of society don’t you wish there is a better way of making a living? How much can you actually do in a span of 24 hours, not much really since you will also need time to rest and take your meals
- You trade your time for money
Time is a very precious commodity. All of us is given 24 hours in a day. You want to make money what do you do? You spend more time at work doing overtimes. But at what expense? Your health and sanity. Plus more time at work means less time for family. Don’t you wish you can do something that makes you a living divorced of your time? Well, there is but it’s not for everyone.
- You’re not in control in your job
When you’re in a job you’re not in control. You can never demand your boss a 100% pay raise simply because you’re very efficient and hard working. Heck, you can even get kicked out of your job with no explanation whatsoever. Simply because the upper management is “streamlining ” the company
- Limits your income potential
When I said a job limits your income potential. I am pertaining to the fact that 100 percent of your time and effort is funneled into it. While this may seem harmless. You are excluding yourself to other means of making money. Since all your focus is on a job and job alone. You fail to see other income opportunities out there especially online.
- Financial freedom is out of reach
Let’s face it getting stuck on a job making the same money over and over again will not make you rich. Yeah sure, you can save 10 percent of your paycheck, live frugally and invest in the stock market. And hopefully just maybe your nest egg will grow at a steady 8 percent for the next 30 years. Like that will ever happen. The recession of 2008 has proven that the markets will have its ups and down. Are you really willing to take the 30-year gamble in exchange for a better life in your elder years?
Is it safe to have a job?
People think that having a job is a safe thing to do. That maybe true… in the past. But times have changed. Job security is a thing of the past. Gone are the days that you can land a job that will last for 30 years or more. Now outsourcing and downsizing is the in thing in a big corporation. Today you can never be too sure
- Are really going to wait when you’re down to your last dollar before you actually going to do something about your financial security?
- Don’t you wish you could do something with the gap of income between your last project? And the time when finally you get a new one?
- Open your eyes to the possibility that maybe; just maybe there is a better of making a living other than the typical 9-5 JOB
Are there other options?
In my quest to find an alternative to a job. I did a number of things. Tried more than half a dozen brick and mortar businesses but to no avail. I gave MLM a try as well but lying in people’s face and getting rich out of tricking people is not really my thing. But in my search, I have found a way. And that is to make money online!
So how do you make money online?
There are actually a lot of ways to make money online. With the dizzying pace of advancement of technology, sprouted various ways to make money online.
There is blogging, Vlogging, e-book publishing, app publishing, and my favorite affiliate marketing. Each has its own unique set of advantages and disadvantages. While there may be many ways to make money online this post will be about affiliate marketing. And how it can solve your income gap problems.
What is affiliate marketing anyway?
Affiliate marketing, in a nutshell, is promoting other people’s product and earning a commission when you make a sale
Let me elaborate further
Pretty much like a referral system. You set up a personal blog. Fill it with highly relevant content within your selected niche. Then you join an affiliate network and promote their product. You slowly build a particular set of audience. This could potentially become buyers later on. You publish content that educates your audience about the solution that your product provides. Then pitch your product to your audience, high lighting its benefits. If anyone of your audience buys your product using your affiliate link you get a commission.
There are three main parts of affiliate marketing
This is the product owner or the affiliate network which you as an online publisher will sign up to. Examples of this as Amazon associate network, Shareasale, CJ publishing(formerly Commsion Junction) etc.
This is most probably you
The most important part of the affiliate marketing triad. The main goal is to satisfy the needs of these people. After all no sale no commission. You have to make this person realize that what you’re offering is worth their money.
So how much can you make from affiliate marketing?
Well, it depends on your skills on promoting your product and the rate of commission of your particular affiliate program. The lower range of commission rate is around 4-6%. Some companies allow for a higher rate of commission. And can go as high as 50% percent just like the affiliate program that I promote.
There are actually 2 ways to make money in affiliate marketing
1. Become an affiliate marketer
This is the most obvious and where guides have been preaching all this time. You have an option of first become a resource blog for a particular niche. This is quite an exhaustive job and requires discipline and consistency on making quality content.B ut I believe in the long run this is the best strategy. The second option is to become a review blog. Posting reviews of the product. The main goal is to educate people about a particular product. Telling them of the advantages and disadvantages of a particular product. It’s like providing your own experience about the said product you review. You serve as a guide to consumers. But in my year into blogging, I realized this is not the only way to make money with affiliate marketing
2. Become a merchant
This is not the usual way to make money online. But if you have a product of good value. Becoming a merchant may, in fact, be the best way for you to make money online. Do not limit yourself to just being the promoter of the product. But become the producer of a product. I believe that becoming the merchant or owner of the product will yield far more success. Than being solely just a promoter of other people’s product Your income potential is limitless since you own the product. And you get to dictate the terms of the affiliate program.
In my own opinion if you want to become rich and make money online. The best way to go is to become a merchant. Easier said than done I know that. But with the rapid advancement of technology today. You can produce your own product. Think digital products like e-book publishing, Google apps making, video tutorials, web applications. There are a lot of options if you just know where to look for.
You have two options if you’re going to go this path.
- 1. First is to join affiliate networks as a merchant.
- 2. Second is to set up your own affiliate program.
Although the former is the usual route that big businesses do. Setting up your own affiliate program is still a viable option. Although you have will be in charge of the tedious task of running the program. You get to earn more since you don’t have affiliate networks to cut into your profits. There is no definite rule to decide which way to go. Both have their own advantages and disadvantages. It all depends on the person which path to take
Advantages of affiliate marketing
1. Location independent
If you’re tired with the regular 9-5 job. Or happy with your job but want to make money on the side. You may want to try affiliate marketing. Affiliate marketing is one of the best ways to earn money from home. Since affiliate marketing is done online. If you have a laptop and an internet connection then you’re set to go
One of the advantages of affiliate marketing is its flexibility. If you want to make extra money on the side while still having your full-time job. Then affiliate marketing might be for you. You can manage your blog after office hours or during the weekends. You can even do some of the task needed in affiliate marketing while on lunch break.
3.Can be outsourced
The good thing about having an online business is that. You can make other people do some part of your business. This is good since, in the beginning, you probably lacking some skills necessary in marketing like copywriting, graphics designing, and even content creation. You can’t do everything your self. And outsourcing can be a viable option when faced with a technical problem. For as low as $5-$15 you can have your very own logo and face book banner professionally made. A word of caution though, use thing sparingly and never over rely on outsourcing. You still need to learn these skills eventually since you will only mature and develop your skills as a would-be professional marketer. By actually undergoing the process of learning.
Disadvantages of affiliate marketing
1.Long term investment
If you’re looking for a way to make a quick way to make money. Im sorry to say affiliate marketing is not for you. This is a long term deal. And the journey will not be easy. Don’t listen to people touting affiliate marketing as something easy because it’s not. After all, all worthwhile endeavors take time to build. Especially building a successful blog.
2.Not for everyone
Blogging takes time money and dedication. If you’re missing any of the three then it will not work. Not all people are willing to pay a price to succeed that’s why they remain average. However, for those who are willing to do the work. And are will to pay the price to succeed then by all means go ahead with affiliate marketing.
It’s sad to say but blogging is not for free. One way or another you have to pay for something. Affiliate marketing is the same. You have to have an upfront capital. You have to realize early on that you will spend money on this business its just the way it goes.
4.Its a lot of work at the start
When i first started out, boy my head was spinning with all the details. But just like anything else. Through repetition and hard work, you will get a hang of it. The task of setting up a blog and everything else seems daunting at first. My advice is to have a good training program in affiliate marketing. With proper training, the process will be much easier. And you will have someone to guide you
Steps on how to get into affiliate marketing
1. Pick your niche
In the beginning, you should approach affiliate marketing as a long term investment. After all its a legitimate business. You don’t get into something that does not drive your passion. Make a list of all of the topics that interests you. The more passionate and familiar you are the better . To better explain it further here is a post i made about niche picking. Click on the, link to read more
2.Define your business model
Here you have an option if you want to become a review blog. Providing your own insight as to what isa the advantage and disadvantages of a particular product. Or you can be come a resource blog like i do.I provide people with information and share my own experience on a particular subject matter.
5.Build your website
Here you will start to build your own medium of communication to people. The most common is to buid your own personal blog. Although a website is not the only option it is in my opinion the best way. Since other options like a face book page ,instagram page or a twitter page or even a YouTube channel is not your own property. The owners of the social media channels dictate the terms of usage. They can simple close your page without any prior notice or explanation what so ever. My advice is to get proper training in affiliate marketing
6. Pick a product or service to promote
In this case pick an affiliate program highly related to your niche. If you’re going to blog about dogs sign up for a dog care affiliate program. If you’re going to blog about basketball, sign up for a sports affiliate network .This is very important step. This is where money is made. And ultimately our goals. To make commissions, which is what everyone wants right? So choose and choose wisely.
7. Create content
Here you will fill your blog with useful content. Thereby providing value to certain group of people or what we call a niche. The key is consistency and perseverance. Creating content require hard work doing research developing ideas into valuable post. The goal is to solve people’s problems. It’s the only way to thrive and survive in this business.
8. Generate traffic to your blog
Not because you built a blog people will just flock to your site just begging to read your content. No it does not work that way. You have to promote your blog. You need to start driving people into your site. And in hundreds if not thousands. It’s not enough just to fill it with good content. There are thousands of people are doing exactly what you’re doing so you have to hustle your way to get people’s attention. Like one writer posted use 20% percent of your time writer and the other 80% promoting your blog. Obscurity is one of the main problems of bloggers. If nobody knows you then how will they find out about your products?
9.Build a following
Here you will need to build a readership base for your blog. After all if you don’t have an audience to pitch your product. Then you have no business. Simple as that.
- 1. First step is to target a specific group of people.
Catering to everyone will not get you results. Believe me, i tried. Plus you will have more focus and purpose.
- 2. Second is to set up a means to gather emails of your readers
You maybe be able to build a blog that thousands will read but if you don’t have the means to reach out to those readers.O ther than the first time they pass by your blog. Then your losing potential customers. They would simply just read through your stuff and then just forget about you. But if you get to collect their email, then you can send a further email regarding your niche which foster relationship.
- 3. Build a relationship with your readers
Never make the notion that just because people signed up to your email list then you can simply send them promotional stuff right away. Sad to say, it does not work that way. You have to let them get to know you first. And you have to educate them first about the benefits of your products and what good it will do for them
And when your reader has become an avid fan. Then its time to pitch in your product.
11. Promote your affiliate products
So after you have done all that work THEN you pitch your product. You’re probably wondering why not do it on the first time? Well, it’s like meeting someone. Do you immediately ask them to marry you? No, you don’t you.Y ou go out with them.G et to know them first. Then you build a relationship with them.T hen after a period of time then you pop the question. It’s the same thing. You warm them up first to the idea. Then you nurture a relationship with your readers. Then you present to them your offer. This, in turn, solves their problem. It’s a win-win relationship.
Although this may sound as a daunting task. As you go over this process over and over you get to be better at it. Which in turn make the process easier as time goes by. What is important is you take action. And take action right now. The best course of action for those who are interested in creating their own alternative source of income is to get trained. Sign up to our FREE affiliate marketing training and see if affiliate marketing is the thing for you. Nothing will happen until you take that first step.