To make money online, you generally need 3 things:
- A website with webhosting (don’t worry, they’re really easy and fast to make, can be done in 10 minutes as I showed in Blogging)
- An audience
- Something to recommend and sell to your audience*
In this article, I’d like to introduce you what is known as affiliate marketing.
Affiliate marketing is simply earning a commission by recommending a product or service to someone, and when they buy it though your affiliate link, the product owner pays you for it. The buyer doesn’t pay extra at all – it’s paid as a performance-based fee to you for recommending it to someone you know.
That’s affiliate marketing in a nutshell.
Why I like affiliate marketing so much is because
- You don’t need to create your own products to start. You can ethically recommend good products and services that you already use to your people, and get paid for it.
- The barrier for entry is very low. It’s really affordable to start, with less than $1 a day at Wealthy Affiliate. They even have a forever free membership (with limited functions of course). But what this means is with your expenses being so low (we’re talking less than $1/day to start, that means that your profit margin is very high, anything from 50-95%!) Which is unheard of in the brick and mortar world today.
- Your customers can be from all over the world. Like you right now, reading this – you could be in United States, or United Kingdom, or India, or Singapore or China or Japan – wherever. The world’s your oyster and it’s a global reach now.
- It’s a lifelong skill that you can keep, refine and pass on to your loved ones. With the same skills, you can start another online business that complements the first one and so on.
- You use technology to automate your business, scale, grow and leverage.
- Because it’s technology, it typically has an uptime of 99.9%…this means that it works night and day, whether you continue to work on it or not, or if you’re sleeping, whatever.
There Are Hundreds Of Affiliate Products And Services Out There:
- Amazon Associates (biggest in the world)
- Commission Junction
Where To Next?
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- Head over my Resources page to see the curated products and services I use / have used to improve different aspects of my life be it business, relationships, health and more. Note: recommendations in nigelchua.com may be affiliate links, which means I may get paid if you choose to buy through my affiliate link.
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