Can You Really Make Money With Affiliate Marketing?
Can you make money with affiliate marketing? The short answer is yes, affiliate programs can earn a extra money and even a full-time income from home. The long answer is a little more complicated. Like any home income venture, success comes not so much from what you choose to do to make money, but whether or not you do what needs to be done correctly and consistently.
The Reality of Affiliate Marketing
The problem with affiliate marketing, like many other home business options, are the so-called gurus and get-rich-quick programs that suggest affiliate marketing can be done fast and with little effort. Odds are you’ve read claims of affiliate marketing programs that say you can make hundreds of thousands of dollars a month doing almost nothing (“Three clicks to rich!”). Or, they suggest you can set up your affiliate site, and then forget it, except to check your bank deposits.
The reality in affiliate marketing is that it’s like most other work-at-home ventures; there are a few who are filthy rich, a good number who are successful enough to meet their goals, and a ton who aren’t making anything.
How Long Did It Take Other Affiliate Marketers Before They Started Making Money?
While it’s true that “it depends”, I’m going to assume that you’re intelligent enough to actually know that. It depends on your niche, how many hours you put in per week, how serious you REALLY are about succeeding, and how fast (or slow) of a learner you are. Heck, even luck plays a role.
But you already know all of this. You just want a general answer. Can you start making money this week? This month? This year? With affiliate marketing, how long does it take?
Here’s the direct answer and you might not like it. Affiliate marketing takes about 12 months to start seeing success. At least true and consistent success, that is what most expert Affiliate Marketers said.
I can hear you now… “A YEAR?! You mean, I have to put in time, money, and effort for a YEAR before I see any success?”
Yeah, pretty much., however, I believe with even better planning, vision, goal and hard work, you can start earning cool money in 6 Months!
Now, this does not mean you will not make money when you just start, this only means that your earnings will be unpredictable, scanty and inconsistent.
How Much Can You Earn From Affiliate MArketing?
Two questions we often get asked:
- “How much is it possible to earn from affiliate marketing?”
- “If I quit my job, how long will it take me to earn X/day?”
Both answers depend on your competence, but I realise there’s an insatiable hunger for concrete figures. So, here’s my take on the matter…
There are five earning brackets in this industry.
- Affiliate Apprentice – Losing money.
- Low-Level Affiliate – Anywhere from 0N – N5,000
- Intermediate Affiliate – Anywhere from N5,000/day up to N50,000/day.
- High-Level Affiliate – Anything above N50,000/day.
One of the rare laws of Affiliate Marketing is: “Revenue is vanity and profit is Sanity”
In other words, if a person is making a revenue of N100,000 per day and a profit of N5,000 and another person earns N50,000 in revenue but a profit of N10,000. The second person is better off when compared to the first affiliate marketer.
Aligning Expectations with Earning Potential
My answer to the question, “If I quit my job, how long will it take me to earn X/day?” is often a swift “Forever“, and here’s why.
Many affiliates fail to align their earning expectations with work that is actually capable of delivering the desired income.
Here’s a breakdown of where each type of affiliate is likely to invest his time:
- Low-Level Affiliates: Focuses on pockets of profit around the web. He ignores economies of scale in favour of high margin campaigns on smaller traffic sources that tend to be extremely volatile. Examples include dating sites, small-scale Facebook Ads, Juicy Ad buys.
- Intermediate Affiliates: Focuses on high volume traffic sources with smaller margins than the Beginner, but more volume. Obscenely clustered around the dating niche (and more recently adult dating). High competition on large traffic sources reduces the size of the pie for all. Smart movers in this category target mobile marketing and pop traffic.
- High-Level Affiliates: Focuses on mass-market media buys and hugely scalable traffic sources. Often trades convenience (self-serve traffic sources) for direct buys with better margins and all of the pie. Greater risk involved, more capital required.
- Apprentice Affiliates – Focuses, invariably, on all of the above, to his own detriment.