If you’re interested in affiliate marketing or are already involved in affiliate marketing, then you’ve probably seen and heard stories of people making it rich with affiliate marketing. But with so many affiliate marketers out there making very little money from their business, what is the secret to how to get rich online with affiliate marketing? Is there a tried and true formula you can follow that will absolutely guarantee success?
There actually is no definitive answer to that last question, as everyone encounters a variety of circumstances that will play a part in their online business, and everyone deals with business in a different manner. What you can do though, is follow some guidelines and advice that will put you on the right track from the very beginning and set you up with a real shot of making it rich with affiliate marketing, or at least setting your business up in such a way that you will make a good consistent income from it and have lifestyle freedom.
Success Takes Time
There is no quick fix or recipe to fast track your success in affiliate marketing. You have to accept that in the beginning it’s going to take time to gain momentum. You will make mistakes that set you back and things that are out of your control will also come along to try and slow things down. Therefore it’s vital that you have persistence. This one word is the real key to success in this business and it is one of the main ingredients that can lead to you making it rich online.
First accept the fact that success is not going to happen overnight. Second, remain consistent, persistent and stick to your goals of being successful in the affiliate marketing business. If you expect to see results and success too quickly, you will just end up disappointed and quit. Be prepared to be in the business for the long haul. Affiliate marketing is not a get rich quick scheme, it’s a real business.
Spend Time With Successful People
If you can, hang out with people who are already successful. Whether they are successful affiliate marketers or just successful in any business venture, spending time with people who are achieving success is always a positive idea. Their success attitude and vibe will rub off on you. You can also pick their brains and gain valuable insight into how to achieve success yourself.
Have you ever heard the saying “you are the sum total of the 5 people you spend the most time with”? It’s pretty true. Make it count. If you can, spend time with successful people, seek out a mentor, or at the very least, read as much about successful people as you can online to gain insights into how they tick and how they did it.
Don’t Go It Alone
If you really want to scale your business up so your income increases exponentially, then you will get to a point where you just can’t handle the entire workload all by yourself. You will either need to hire staff or outsource some of the work. Maybe you could even consider bringing a partner into the business, someone who can inject some extra capital for expansion and advertising. Which leads into the next point.
Paid Advertising
This is one of the main components that can lead to riches from affiliate marketing, but not something that should be employed until you either really know what you are doing with paid advertising, or you can afford to hire the services of an expert.
You see, once you have products, promotions and certain website pages that are converting, the natural progression is to scale up those conversions by driving even more traffic towards your most successful promotions; and the very best way of increasing traffic is with paid advertising, usually PPC (Pay Per Click).
This is where you can really cash in. Sure, you need a decent advertising budget, but if your profits are exceeding the money spent, then you can really scale up your promotions and start making some serious coin.
The Money Is In The List
You’ve probably heard this expression too, if you’ve been around the affiliate marketing game for a while or been studying up on it.
It’s true, the money is in the list. Your email list, that is. These can take a while to build up to a healthy number of subscribers, but once you have a good quality list you can promote to it at will. It is a common theme to expect each subscriber on your list to be worth about $1 a month to you, so if you have a list of 100,000 subscribers, that’s real cash!
In order to build your list you first need traffic to either your website or a squeeze page. Then you have to tempt them to give up their email address. You do this usually by offering a freebie, like an eBook relevant to your niche, or some free training. It’s near impossible to just get people to sign up to your email list without offering them something of perceived value first.
A good lead magnet will get you subscribers, so once you have that and an autoresponder set up, then focus on driving traffic to your list.
Get The Proper Training
To be successful in affiliate marketing you should always be researching and learning, but you also want to start your online business off on the right foot. You really want to learn the basics and establish a solid foundation on which to build your business and expand in the future.
I learnt with a place called Wealthy Affiliate. Their training is very cost effective compared to some other trainings out there, they have a very good reputation and their lessons are so easy to follow. Best of all, you can first join for free and do the initial 10 lessons of training for nothing to see if it’s for you. Definitely worth at least trying it out when you have absolutely nothing to lose. No credit is required to create an account.
If you would like to learn more about Wealthy Affiliate before signing up, then you can read my full review by clicking below.
Darren Burton
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I am into affiliate marketing as this is the business with the lowest startup cost. I went from training to training and got scam many times. Through these mistakes and setback, I grew wiser. Learning the right direction, and recognises what are the proper training I should take.
The problem with beginners is the attraction of promise of quick money. I found WA, and I like this because I see myself moving forward with the training here. What advice would you give a beginner especially where to start and how not the get scam by “shiny object”?
Hi Vincent. You are spot on when you say the attraction to quick money is the main problem for beginners, and that’s exactly what the scammers prey on.