Last updated on July 4th, 2022
In our previous article, we discussed what affiliate marketing is. We covered what it means, how you can make money as an affiliate, and how to get started.
Now that you have a general idea, let’s talk about how affiliate marketing programs can be the best way to generate passive income.
Advantages of Affiliate Programs
Affiliate marketing is a passive income-generating business. But it doesn’t mean no action is needed from you. Because let’s be honest, you still need to do something to earn your keep.
Then in what way can it be an inexpensive method of earning good money without the hassle of a full-time job?
Let’s take a look at the benefits of affiliate programs, especially for beginners looking for passive income strategies.
1. Requires minimal effort
Image source: Jason Strull
Your one and only job is to link the brands, services, or products to the consumers. That’s it. You don’t have to wake up early, travel to the office, or work from 9-5 for it.
Of course, you still need to allot some time to start the campaign. But once you’ve laid out the groundwork, you can start receiving commissions when customers buy the product through your promotion.
Work smarter too. Plan out and look for affiliate marketing for beginners. Read various marketing strategies to find the most cost-effective method.
2. You can use your social media accounts
Image source: Jeremy Bezanger
Maybe one reason you’re intimidated to start is because you don’t have an “established channel” to promote. Especially when most of the articles you’ve read are sharing their experience as an affiliate marketer on their own website.
But remember, your only responsibility is to introduce the product to the consumers and encourage them to buy it. There’s no better way to reach bigger audiences than social media.
And depending on your target, personal accounts might even be the best option. One of the best examples is sports betting affiliate programs.
Think about it, won’t you trust more the betting tips given by sports fans like you than those coming from businesses?
That’s why using your personal account on social media and sports forums will give more credibility that “you are one of them”. This impression alone will increase the chances of them clicking your promotion.
3. Lifetime commission
Image source: Alexander Mils
First of all, you will get a commission from your partners for as long as your contracts with them are active.
That alone will give you a consistent passive income stream. Plus, you can maximize this benefit by finding industries that offer accumulated revenue share. What is this? Simply put, this is your share of income from customers that you refer, depending on how much they spend on products or services.
Let’s say you’re a sports betting affiliate, you will then earn a percentage of what your referred sports bettor wagers. So the more they bet, the bigger your commission is. Additionally, the longer they bet, the longer the income stream will last.
Do all of these sound profitable? Then keep a lookout as we give you more tips about how you can earn lifetime commissions with the best affiliate programs.