How Much Money Can I Make with Affiliate Marketing?
I would have to say I get questions almost daily about how much earning potential a person has with affiliate marketing. Following that question is: how long does it take to make x amount of dollars with affiliate marketing. And lastly, how much work is involved.
Well, I plan to answer those questions and more right here.
If you’re brand new to affiliate marketing, then I highly recommend you check out some of these articles first before diving into this one.
Now that you know a little more about affiliate marketing, let’s dive in, shall we. 😉
Affiliate Marketing Earning Potential
When it comes to the online world, there’s a vast ocean of marketing, and affiliate marketing, as you’ve heard me say before, is embedded into the genes of the Web.
Almost every business on the web has an affiliate program and if one company doesn’t offer an affiliate program, then I can bet their competitor does. With millions and millions of affiliate programs to choose from, anyone can join in for new opportunities. Once you set up your affiliate links and understand the basics of marketing and distributing your affiliate links, it’s really easy to manage.
In terms of earnings, there are a few things that I want to shed some light on.
#1. Your earning potential will depend a lot on the niche you choose. You need to work in a very popular and lucrative niche to make affiliate marketing make you a good income monthly.
I’ve seen the same person that makes multiple six figures a month with one affiliate and they try a new niche and flop without making anything. So… I would say your earnings rely a lot on the niche/market you choose. Again, if you’re not sure what affiliate to choose, you can always check out this article: How to Choose the Best Affiliate Program
#2. Your list. I also talk a lot about list building (http://scotthurtado.com/how-to-reach-10000-subscribers-on-your-list/) and that’s because most of my earnings each month comes from my list. Like I said, there’s a lot of legwork involved with getting the ball rolling, but once it’s all set up, it’s smooth sailing.
#3. Your earnings will reflect how good a leader you are. If you take me for an example, I know a crap load about a crap load of stuff. I pride myself on knowledge and learning is my drug. Since I love to learn and earn a lot, I’ve never met another affiliate marketer, investor, writer, or business individual that makes good money, but is not very intelligent.
I’m sure you’ve heard other marketers say “It’s easy!” “It can happen overnight!” “Anyone can do it!” Well, although some of this is true, it’s not all what it seems like, so let me set you straight. To make really good money (I am talking multi-millions a year money) it can be easy. However, here’s the catch and it’s the bottom line truth: you must be willing to LEARN!
Without having knowledge about this industry, you will be left frustrated and broke. When I got started I knew nothing, I had no connections, and didn’t know what to do next. That’s when I made it my mission to buy as many books as I could. I got into as many live webinars as I could. To put into context how much I love to learn, I’ve spent over one million dollars on books, courses, seminars, and mentors.
Obviously not everyone is willing to spend that much money, let alone time, to better their life. For myself, I wouldn’t have it any other way.
I just can’t tell you enough though that I was dirt poor, didn’t have a single dollar to my name, I lived out of my car, and didn’t have anyone helping me.
So to bring it back to what everyone tells you “It’s easy!” “It can happen overnight!” and “Anyone can do it!” Those things are true because I’ve lived them. Looking back, it feels like it did happen overnight, but in reality it took a few years. Now a few years might seem like a long time to some, but I can now live the rest of my life on my own terms. I have true freedom.
To put it into plain English, what I think someone can earn with affiliate marketing is simple: the effort you put forth will reflect what you earn. It’s as simple as that.
I myself have put a shit ton of effort and that allows me to make piles of money. 😉
How Long Does It Take?
The million dollar question that I get asked multiple times daily: how long does it take?
Well, I do have an answer that’s so secret, so “proven,” and so AMAZING that it’s going to never make you ask that question again.
Here’s my answer: It’s going to take as long as it takes. 😉
I know some of you will hate me for answering in such a silly way, but maybe you shouldn’t ask silly questions that one can’t possibly answer. I don’t know your skills, your drive, your passions, your motivations, so I have no idea how long anything you do will take.
I know it’s not the answer you’re looking for, but it’s the damn truth and in this type of business wouldn’t you rather know the truth than to be lied to? I know some of you are saying, Lie to me Scott! LOL
I just can’t lie. It’s going to take as long as it takes.
On average from the clients I have helped, I see that they start seeing success after 12 months. Now wait one second though! This is not something that happens to everyone who tries to make it in affiliate marketing. I’ve had students and met many people who’ve hit it big within a few months (2-3 months).
You see, it’s all about getting past all the legwork. Once you get that out of the way, it’s about applying everything you’ve learned. After you do that and you don’t have results, you test, test, test, and then go out and test some more. To this day I still test and although sometimes they don’t give me better results, I figure out new ways to monetize my business.
Insanity: doing the same thing over and over again and expecting different results. — Albert Einstein
Testing can mean the difference from making $100 to making $10,000 monthly. It’s that damn important. There are many tools out there that you can use to start gathering data; data that you can use to better optimize your affiliate marketing efforts.
Here are some of the tools I recommend when it comes to testing:
Visual Website Optimizer
This tool is an amazing testing suite chock-full with goodies. Visual Website Optimizer is very similar to Optimizely but with a few key differences like price, tools, and features. If you’re on the fence between Visual Website Optimizer and Optimizely, give them both a try and see which one comes out on top for you. 🙂
Without this tool I would be pulling out my hair. It’s not just a testing tool, but also a landing page builder with some amazing tools: Leadboxes, LeadLinks, and loads of other tools. In my opinion, it’s the #1 landing page builder.
There are a lot of tools and apps that you can use to know what’s working and what’s not. If you don’t have the funding to purchase some of the premium tools, then you can still have a lot of data to work with if you integrate the free tools. Don’t just fly blind! Get the tools integrated with your site, traffic, and newsletter because having data is king!
What Do YOU Have to Say about Affiliate Marketing?
First and foremost, I hope you liked reading this post as much as I liked writing it.
Please share with me your thoughts on the subject. What are you currently making? What would you like to be making with affiliate marketing? What’s holding you back? Share with me what’s going on with you in the comments section.
Scott “hard work pays off” Hurtado