How To Make Extra Money Online
This post is dedicated to people who already have a WordPress Website up and running. That was step 1 and a SUPER important step 1 at that. However, after the website is up and running many people want to know the answer to the question “how do I make extra money online?”
This is a post about helping you understand better “How to make extra money online”. If you need a place to teach you how to build your own website and be your own boss, check out the site I use here.
The top thing to always keep in mind is “Who EXACTLY is my customer? Followed closely by “What problem am I solving for them EXACTLY?”
When you stop and think about the answer to these two questions before deciding on which path to take to make money online, things becomes HEAPS easier. It’s really hard to hit a target when you don’t know what it is you are aiming at right?
Let’s start with the “classic” WordPress blog solution of “affiliate marketing”.
Now Wikipedia kindly defines Affiliate Marketing as;
“Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts. The industry has four core players: the merchant (also known as ‘retailer‘ or ‘brand‘), the network (that contains offers for the affiliate to choose from and also takes care of the payments), the publisher (also known as ‘the affiliate’), and the customer. ”
Ok, so now we know that a manufacture creates a product enrolls the product in a 3rd party payment program that attracts Affiliate Marketers to promote / advertise / refer people to buy the product and then finally the end customer who actually BUYS the product.
This is a great thing to get clear in your head. Why? Because once you decide which one of the four core players you would like to be, then it’s really easy to just knuckle down and focus on the one that you have chosen. In our case we are going to pick Affiliate Marketer. So, our role is to choose someone else’s product and then go out and source customers who are willing to buy the manufactures products / services.
The key here is that you DON’T HAVE TO BE ALL THINGS TO ALL PEOPLE. So now that you are clear about that just focus on what sort of products solve what sort of problems and what sort of customers buy that type of product. Sounds simple right?
Arguably the top Affiliate Marketing program in the world is the Amazon Affiliate Program. Here Manufactures create literally thousands upon thousands of products and then they sign those products up to be promoted via Amazon’s huge networks and then the Affiliate Marketer promotes selected products that they like and then via their website, they can attract new customers to click on the Affiliate Marketers link, get diverted across to Amazon and then purchase the product from the original Manufacture.
So, the manufactures does all the order fulfilment and shipment and customer enquires.
Amazon does the order processing and payment
The end customer pays the same amount of money that they would anyway
The Affiliate Marketer (you) get a pre-set percentage of the sale. This is usually called a “commission”. It can be anything from as low as 1-2% for high demand, brand name products or as high as 50-80% for education or internet based products. oh… and of course every number in between. Every affiliate program is different and has different rules, different payment levels and different performance standards depending on the program, so look around and don’t be afraid to ask lots and lots of questions.
How do you find Affiliate programs in your niche? Simple.
Just open up Google and type in “My niche plus Affiliate Program”. So for example if your niche was basketball you would simply type in “Basketball + Affiliate program” and hit return. In this example you can see there are almost 20 million different search results for companies that offer an Affiliate program promoting basketball products.
Why don’t you try it now for your niche? Simply type in “Your Niche + Affiliate Program” and see what pops up. The results might surprise you.
If all else fails and you can’ t find anything suitable, an alternative is simply to go to Amazon and see what products Amazon has that would be relevant to your niche. You can always start by promoting Amazon products and services. This is actually how I first got started with Affiliate Marketing.
The top two ways to make money via Affiliate Marketing are
Cost Per Sale (CPS) also called Pay Per Sale (PPS)
Cost Per Action (CPA)
1 Cost Per Sale (CPS) or Pay Per Sale (PPS)
Cost Per Sale or Pay Per Sale is exactly what it says. Here you create the website, find the audience and then if a website visitor clicks on your website and then clicks on one of your links and then goes on to make a sale, then you get a percentage commission on that sale. Product Manufacturers love this profit sharing model because they only pay out a commission to you (The Affiliate Marketer) AFTER they have received the money from the customer.
The Amazon Affiliates Program works this way and so does my #1 Affiliate Program recommendation, Wealthy Affiliate. Click here to learn more.
2 Cost Per Action (CPA) or Pay Per Action (PPA)
Here the website visitor must first perform an action and then the Marketer (you) receives a commission on the visitor activity. The most well known action from the “pay per action” group is “pay per click”. Here a website visitor clicks on a banner ad or a website link and a cookie is activated in the background. This cookie can be linked back to the website owner and so now they can get paid.
Other forms of Cost per Action or Pay Per action include webpage impression, form submission, sign-ups, registrations, opt-ins and meeting requests.
One thing that is common in all of these activities is that the website visitor has not been asked to provide any credit card details or payment details of any description. As a result of this, the commission payout figures are much smaller. Google AdSense for example only pays out “penny’s on the dollar” for all the advertising it generates.
If you would like to see some training on how to insert Google AdSense Ad’s please click on the video link to access Marion Black’s training via Wealthy Affiliate or click this link. Thank you.
The best Affiliate Marketing Programs for 2018
This then naturally leads onto the question of “So what is the best Affiliate Marketing Program for me to join in 2018”.
This is a great question and there are two parts to consider for the perfect answer.
- what is your niche? Who are your customers and what problem are you solving?
Some Affiliate Marketing Service providers are stronger in some niches and very weak in others. As a result of this please look around and make sure that who ever you decide to go with offers a range of different products / solutions / options in your niche that solve your customers problems. This is the fastest way for you to make money. So don’t be afraid to explore a wide variety of different programs until you find one that has the right commission percentage for you a smooth payment transaction facility for your audience and has a great range of products available in your niche.
That said, here are my top 5 Affiliate Programs in 2018.
ClickBank promote a great range of digital products. They will not be suitable for people looking to focus on physical products.
Rakuten is a very large international Affiliate Program. They have a HUGE selection of products. Please note that not all their products and vendors communicate in English. As such Rakuten may not be suitable for everyone.
CJ stands for “Commission Junction” and it was a very well-known Affiliate Marketing vehicle for many years. The new name is CJ Affiliate by Conversant and it is still very, very popular.
Amazon Associates is arguably one of the most well-known Affiliate Marketing programs in the world. The program operations in every country where Amazon trades. Amazon will also accept Affiliates outside of the country where they are trading. This makes it truly one of the largest programs in the world. Amazon requires you to have an existing website up and running prior to applying to join their program. If you do not live in the country that you have joined the Amazon Affiliate program for, Amazon may not pay out any commission in cash. You may have to receive funds via an Amazon gift card. This could be a problem for many people internationally.
Share a Sale has been going for over 15 years and they have a great reputation for helping their manufactures and Affiliate marketers alike. They are definitely worth looking at.
OK that’s enough information for one Post. Do you still need more help and support?
Fear not! Help is only one click away.
Would you like to jump into my FREE 7 DAY Affiliate Training Program courtesy of Wealthy Affiliate? Click here to get started.
Over 7 days you will learn how to successfully earn your first dollar online.
You will also have your first WordPress Website built and operational – so you can show all your family and friends!
You will also have chosen your first niche.
Your initial content created and published to your very own website.
Your strategy for traffic creation and visitor engagement.
and much, much more.
To get started right away with no credit card required, please click this link here.
Hopefully I have answered your question about how to make extra money online. If you need any other advice or recommendation, please feel free to leave a comment in the section below. Leaving comments on my blog really helps me understand what my readers want to know and will help me create higher quality content for my website visitors, so please feel free to share your thoughts.
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