Make Money on the Side:
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This page is all about side hustles. While the savings that we've achieved (and shared here on our website) have saved us countless amount of money for our family, we are also interested in building our portfolio of passive (or semi-passive) income streams. Until recently, we only had a rental condo from which we benefited from passive income. When we learned about affiliate marketing, we wanted to give it a go and see how it might work for us.
What is an affiliate marketing program?
In an affiliate marketing program, you are essentially promoting a company's products or services. This promotion may happen on a website you developed, on a YouTube channel that you own, or another social media outlet. For instance, when you promote Air Jordan shoes for Nike on a website you own and someone who reads and eventually clicks on a promotion you created, you will get a commission from that person if s/he ultimately purchases a pair of Air Jordan's on Nike's website. How do I get started? First, you need to have web presence. If you have a social media page (for instance, Facebook or YouTube), you are already off to a good start because you can promote any product or services through these channels. If you want to have a more professional-looking outfit, then create a very simple website. The cost to have a web presence is zero to just a few dollars a month to own a website domain. What else do I need to get started? You should carve out a niche that you want to focus on. From product reviews on laptop computers to recommending hiking gears, the options are almost limitless. You just need to hone in on an topic that you feel passionate about. In addition, you should never promote a product just because you want to make a quick buck. Some products and services are terrible. Recommending bad products will lead to your viewers from distrusting your website over time. How do I get people to notice the products or services that I promote? To get people to notice the website, YouTube channel, or other social media you've developed (where your product and service reviews are located), you will need to get the word out to the world about yourself. You can draw attention in two ways: Either through paid advertisements or through organic contents (such as YouTube videos that costs nothing to post). Obviously, organic posts are preferred. But a lot of times, paid advertisements are also good so long as the cost of the advertisement is good relative to the payment for the affiliate marketing. Can affiliate marketing really pay off? Like anything in life, you get what you put in. If you work hard to make your affiliate marketing project successful, we are confident that, over time, you will see a meaningful finance gain. But again, it really depends on how much you put in in terms of time and financial investment. |