Can Affiliate Marketing Make You Rich? What About A Millionaire?
Affiliate marketing comes with a ton of benefits, but is one of those benefits the fact that it can make you rich?
Let’s talk more about affiliate marketing and many of the doors that it can open up for you.
Can Affiliate Marketing Make You Rich?
There are a ton of great benefits when it comes to affiliate marketing, and one of them is most certainly that it can make you rich.
Before I carry on, there are a few things that I want to mention when it comes to becoming rich from affiliate marketing:
- The word “rich” is always going to be defined differently from person to person.
- In other words, what might be a lot of money (rich) to one person, is nothing to another.
For example, a lot of people might think that making $100,000 a year would make you rich. On the other hand, some people might not think $100,000 is a lot of money until you start making that much money on a monthly or even weekly basis.
The fact of the matter is that affiliate marketing can make you rich, but be ready to be able to do whatever it takes to hit the number that you might be thinking about right now.
You also have to keep in mind if you’re going to be doing affiliate marketing full-time working for someone else (like a job) or doing it for yourself.
But what about one million dollars, is affiliate marketing capable of making you a millionaire? Let’s talk about that next.
Can Affiliate Marketing Make You A Millionaire?
As if affiliate marketing wasn’t good enough as it is, it certainly has the potential of making you a millionaire as well.
When you think about it, most types of business models (or even jobs) have the ability to make you a millionaire… if you give it a long enough period of time and are smart with your money.
Something else that I want you to keep in mind is that while there are plenty of affiliate millionaires, this is certainly not a common or typical result. In fact, I stated previously that the average affiliate income is nothing due to many people not taking action.
To give you more perspective, I’ve been doing affiliate marketing since 2012 and I am still working my way to becoming a millionaire. While there are some affiliates who happen to see success really quickly, it certainly doesn’t always happen that way.
Plus, there is a big difference when it comes to seeing success, and keeping success.
There are a lot of marketers who make a ton of money, only to spend it foolishly on stuff that doesn’t really matter… but that’s a completely different topic.
All you need to know is that there are so many offers and opportunities when it comes to making a lot of money with affiliate marketing.
If you hear any differently, then it’s a good idea to change who you hang around.
How Can Affiliate Marketing Make You Money?
Affiliate marketing is a simple concept. You get paid a commission whenever you refer a customer for an online business, company, or product.
There are going to be a few important steps when it comes to getting started from square one. To keep things simple, here are two key things that you’re going to need to do in order to make money with affiliate marketing.
1) Sign Up For An Affiliate Offer To Promote
In order to make money with affiliate marketing, you are going to need some type of offer to promote. The good thing about affiliate marketing is that offers are pretty easy to find.
In fact, here are two great sources when it comes to finding affiliate offers to promote:
- Clickbank (they have offers in almost any niche).
- JVZoo (great for online business and making money online niche).
If you need help when it comes to getting approved for affiliate offers, you can read this related article.
The offers that you’re going to want to promote as an affiliate depends on quite a few factors. Here are a few of the important key factors to keep in mind:
- How much the offer pays out.
- How hot the offer is (in other words, if it converts well).
- If the product/offer is any good (in other words, if customers like it).
If you can find an offer that meets the requirements above, then you’re going to be in a great position. The thing is, you’re not always going to know what converts well when you’re first getting started.
To help solve that problem, you have a few options:
- Ask the product owner.
- Test multiple offers to find out for yourself.
- Ask affiliate managers as they can sometimes give you good numbers.
I’ve mentioned it before in a few of my other articles, but the more you do affiliate marketing, the more that you build up your affiliate marketing instinct.
The more knowledge and experience that you can accumulate over the years (yes, I said years), the bigger the advantage that you will have over other affiliate marketers.
2) Promote That Affiliate Offer Using A Traffic Source
Once you have an affiliate offer or two that you’d like to promote, now you need to pick a traffic source.
The good news about traffic sources is that there are plenty to choose from. The news about traffic sources is that there are also plenty to choose from.
Don’t make the mistake of thinking that you need to focus on every single traffic source out there. As Confucius says:
The man who chases two rabbits, catches neither.
It can take an entire lifetime to master one specific traffic source. Something else to keep in mind is that traffic sources are always changing, so it’s best to focus on one traffic source that you’d like to get better at.
To make your life easier, start by asking yourself which type of traffic source that you’d like to utilize:
- Free (or lower-cost) options.
- Paid options.
Free traffic can be free, but it costs you time and will generally take longer for you to see results. Paid advertising obviously costs money but will allow you to get much quicker data/results.
Either way, knowing how you are going to start will make your affiliate marketing life much easier.
If you’re just beginning, you can check out my launch jacking tutorial which shows you how to leverage YouTube for making commissions. It’s a great tutorial for beginners.
Getting Rich From Affiliate Marketing: Closing Words
Getting rich from affiliate marketing is certainly possible, but it’s not going to be a walk in the park or happen overnight (like many people think it will).
Like most forms of marketing online, affiliate marketing comes with a lot of challenges, and you usually need to quickly find the answers to these challenges.
If you’re not sure what I mean, here are a few examples of roadblocks that can come up every now and then:
- Emails going to spam.
- Affiliate networks not paying out.
- A specific affiliate offers not converting.
- Not being accepted from a specific traffic source.
- Losing access to a paid traffic platform completely.
- Your website going down and needing to fix it immediately.
And so on and so forth. I’m not bringing up these things to discourage you, but you’ll have a much better time with affiliate marketing when you understand that roadblocks like this can occur.
The quicker that you can get over these roadblocks, the quicker you’ll be able to get results and spend less time being stressed.
All in all, if you are new to affiliate marketing, don’t expect to get rich “quickly” and especially not overnight as it just doesn’t work that way.
Put in the time, take the right steps, and be sure to make changes when appropriate. That’s how affiliate marketing works from a fundamental view, and it’s a great feeling when things finally click.