Since affiliate marketing was introduced to the internet in the year 1989 by William J. T. Tobin, it has grown over the years and has become one of the best and most lucrative ways of making money online for most people. But, Can Affiliate Marketing Make You Rich?
Definitely yes, affiliate marketing can make you rich. I personally know a lot of people who are getting rich doing affiliate marketing. However, it is important you understand that it almost certainly won’t happen overnight, it takes a fair amount of time and a lot of effort to achieve that.
Read on, the following article provides more detail regarding the question: Can affiliate marketing make you rich. Plus steps to take to get rich doing affiliate marketing.
With that being said, let’s dive in…
Table of Contents
Can You Get Rich With Affiliate Marketing?
Becoming rich with affiliate marketing is absolutely possible. You can make extra income or even a full-time income doing affiliate marketing from the comfort of your own home.
But the thing is, affiliate marketing is a marathon, not a sprint.
What do I mean by that?
Well, I mean, making money online with affiliate marketing and probably becoming rich with affiliate marketing is not a get-rich-quick kind of stuff.
…Or overnight success.
It takes real work, consistency, effort, persistence, and above all patience to reach that level.
Those who are often considered as top affiliates who are making a significant income from affiliate marketing.
I mean those who are making six, seven, and even eight figures from affiliate marketing…
…Often spend years of hard work, following the right process before they are able to attain that.
If you’re not willing to put in the necessary work, stop dreaming about becoming rich with affiliate marketing.
Why Top Affiliates Are Getting Rich With Affiliate Marketing?
Most successful affiliate marketers you see online today who are making millions of dollars from their affiliate business and traveling around the world.
One thing you have to understand about these people is that they have already done the work and are now reaping the fruit of their labor.
If you also want to become rich with this business model, then you need to put in hard work.
But the thing is…
Hard work alone won’t get you there.
What do I mean by that?
Well, I mean you can’t be working on the wrong thing and expect to get rich.
You need to work smart.
It’s important you first commit to learning everything you can about the topic of affiliate marketing (thus, what is it all about, how it works, pros and cons, dos and don’t, etc).
So, you can know you’re actually working on the right thing.
The thing is, you can’t be working on the wrong thing and expect to have a positive result.
Nope! It doesn’t happen like that.
Here Are Some Things To Do…
- You need to educate yourself on search engine optimization (SEO).
- Learn how to market online properly
- Focus on creating quality content.
- Learn about web design (optional). But learn as much as you can.
Above are all important but I recommend you focus more on SEO and CONTENT.
In affiliate marketing traffic is what will determine whether or not you’ll make money.
And if you can generate tons of traffic to your affiliate offer, you’ll likely make money.
And SEO is one of the best ways to generate a large amount of relevant and high-quality leads on your offer…
…Which overtime will eventually lead to sales.
One of the best ways to get people to click on your affiliate link and purchase your offer is when you help them…
…By providing content that actually helps solve a particular problem, pain and challenges they’re facing.
Work on SEO and try to be helpful by providing useful VALUE for your audience.
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Why Some People Don’t Get Rich Doing Affiliate Marketing?
There are a lot of valid reasons why some people don’t get rich with affiliate marketing. One of these is that people give up too early. If you don’t give up, your chances of success or getting rich are far higher.
A lot of people approach affiliate marketing as an easy way of making money online.
They think they can just post their affiliate link in their blog or social media and the next day they’ll start seeing money rolling into their bank account.
Sorry! It doesn’t work like that.
And by the time they figured out that it’s not easy and that it requires hard work, effort, consistency, and time.
With that being said…
There are a good number of people who actually make a handsome income from their affiliate business.
Here Are A Couple Of reasons why you have not seen any real results yet & some of them could:
- Not providing Any Useful Value
- Lack Of Required Skill Set
- Wrong Expectation
- Only Focusing On Making Money First
- Not Build Trust And Relationship With People
- Lack Of Consistency
- Lack Of Patience
I have another post where I share with you 12 reasons why you’re not making any affiliate sales.
How Long Does It Take To Become Rich Doing Affiliate Marketing?
Making money online and probably with affiliate marketing takes time. However, how long it is going to take you to make money off affiliate marketing is vary based on so many factors.
The biggest thing that’ll determine that is the NICHE you’re in.
In some niches, it’s very hard to get traffic to your content and your affiliate offers.
Which can delay your progress.
Traffic in affiliate marketing is extremely important…
If you can get a lot of targeted traffic to your offer you’ll probably make your first affiliate sale in a short period of time.
How can I get target traffic to my affiliate links? Great question!
Well, to put it simply – it all starts with CONTENT.
If you can write really GOOD content that people are actually searching for to consume.
You’ll probably get the traffic.
So… To do that.
You want to first figure out what phrases, terms people are typing into the search engines (Google)…
….When looking for answers to questions related to your niche or your affiliate product.
And after figuring out that, you want to create content answering exactly those queries.
If you can create content that really matches or answers exactly those questions.
You’ll be able to get a lot more traffic which eventually will help you increase your revenue.
How Long to Get Rich With Affiliate Marketing?
To put it simply – “it can take you a minimum of 8 months to 1 year to start making profits with affiliate marketing. However, if your plan is to get rich then you need to invest at least 2 -3 years into building your affiliate business”.
Your overall success depends on your ability to create relevant, valuable, and high-quality content which is optimized for SEO and monetization.
NB: Also you want to focus on promoting high ticket affiliate products. This is where the money is.
What Percentage Of Affiliate Marketers Are Actually Getting Rich With Affiliate Marketing?
First and foremost, success in affiliate marketing depends upon your marketing skill.
That said, out of the 100% of people who attempt affiliate marketing only 3% of them are actually getting rich with affiliate marketing.
The truth is, 97% of people who fail with affiliate marketing are not actually GOOD at affiliate marketing.
What do I mean by that?
Well, I mean, people who try to make money off affiliate marketing don’t actually know or understand what it actually takes to succeed with this business model.
A lot of people think throwing their affiliate link across social media is going to make them money.
Well, that’s a wrong marketing strategy. With that kind of strategy, it’ll only lead you to failure in the long run.
If that’s you, you want to change your approach by first educating yourself on the topic of marketing.
Take time to learn about affiliate marketing so you can approach it the right way.
How To Become Wealthy With Affiliate Marketing
Before we look into that, let’s first take a look at what affiliate marketing is and how it works.
What Is Affiliate Marketing?
Affiliate marketing is a process, tactics, or marketing strategy that involves sharing and recommending other people’s products in exchange for a commission.
You find someone else’s product (either a company or an individual product) you promote it on your blog, YouTube channel, or social media.
And if your audience or someone clicks on your link and purchases the product, you get compensated by the product creator.
Which is termed as commission.
By the way…
P.S: I have another post where I share with you in detail what affiliate marketing is and how it works.
Here Is Some Steps Toward Affiliate Marketing Wealth:
Affiliate marketing is a great way to make money online even as a complete beginner.
Some of the action steps you can take to get rich with affiliate marketing include:
- Choose A Niche: A niche is a topic you’re going to be writing content around. But you need to be passionate about your niche so you can stick with it for the long run.
- Build A Website: You can promote product through social media, such as YouTube, Pinterest, Facebook, Instagram, Twitter… etc, and still, make money, but if you want to run a successful affiliate marketing business for the long term, you need to build a website in other to have an online presence so you can build an authority in the eye of your audience so they can trust you and see you as a reliable source. I have another post where I share with you on how to start a blog. Check it out.
- Choose An Affiliate Product: There are tons and tons of affiliate programs out there that you can promote. But before you start promoting that product to your audience, I recommend you first do thorough research about it to find out whether or not it’s of good quality and will help add value to your audience’s lives or not.
- Create Quality Content: This is where you serve your target audience. If you really want to get rich with affiliate marketing, you need to focus more on content rather than just spamming your affiliate link with people. Money follows value, so focus on content and the money will naturally come.
- Build An Email List: This is where 101 marketing starts, people are not going to buy a product from you at their first exposure. So from your content you want to create a capture page to capture your visitors’ email addresses and remarket the product to them through email marketing.
- Promote your website or blog. You will need to promote your website or blog so that people can find it and buy the products you’re promoting. One of the best ways to do this is by using social media platforms such as Facebook, Instagram, Twitter, LinkedIn and Pinterest etc.
- Write An Honest Product review. You can write reviews of the products you’re an affiliate for on your YouTube channel or blog. This will help convince your audience or visitors’ to buy the product. It’ll also help you build your credibility, reputation as an expert in that niche.
- Offer A Free Gift. You can offer a free gift to people who buy the product you are promoting. This will encourage them to buy more other products from you and it’ll also help you build your online credibility as someone who gives great value.
- Be patient: Affiliate marketing is not a get-rich-quick scheme, it takes time to make real money with affiliate marketing just like any kind of business takes time to develop.
Who Are The Richest Affiliate Marketers In The World?
There are a vast majority of affiliate marketers out there who are making a very sustainable income from affiliate marketing so there is no definitive answer to who is the richest affiliate in the world.
As I did a little research I found Pat Flynn to be one of the most successful affiliates in the world.
When it comes to affiliate marketing Pat Flynn is considered to be the best.
He’s extremely successful with affiliate marketing and completely honest and transparent about it.
Another one is John Crestani.
This guy makes a huge income from his affiliate business.
He has generated over $30,000,000 from his business so far but I think the majority of that comes from his own product.
Here Are A List Of Some Of The Richest Affiliates In The World:
- Pat Flynn
- Robby Blanchard
- Jeremy Shoemaker
- Affiliate Summit
- Zac Johnson
- Andrew Payne
- Adam Enfroy
- Mark Ling
- Darren Rowse
- Mathew Woodward
- David Risely
- Rafael Zelik
- Ian Fernando
That’s It Folks!
If you asked me years ago whether or not affiliate marketing can make you rich I’d say NO but today…
Definitely YES, affiliate marketing can make you rich. However, it doesn’t happen overnight.
Your success in affiliate marketing, like any other type of business out there, is determined by the amount of time and effort you put into building your business.
- How much quality and targeted traffic you’re generating on your affiliate link.
- The way you convince your audience to purchase your product, etc.
That said, you need to also understand who your audiences are and learn how to market to them properly.
You would have to follow a good affiliate marketing course that teaches everything about affiliate marketing and the best way to approach it to find success.
It Will Take A Fair Amount Of Time But You Have To Work Hard And Be Patient.
Can Affiliate Marketing Make You Rich FAQs!
Are Affiliate Marketers Rich?
Yes, there are a lot of affiliate marketers who are making millions with affiliate marketing. Once you have established a trusted audience and you promote a good product that will be helpful and relevant to your audience, you can get rich with affiliate marketing. But it takes time and a lot of work in the beginning.
Is Affiliate Marketing Easy?
Affiliate marketing is one of the best ways to make money online but it’s not an easy or quick way of making money online as a lot of so-called gurus proclaimed it to be.
Affiliate marketing, in theory, the process seems easy but in practice, it is not, it’s very hard.
It takes a lot of hard work, effort, and determination to see success in this business model.
You can read more here on: Is Affiliate Marketing Easy
Does It Cost Money To Do Affiliate Marketing?
To put it simply -no, it doesn’t cost any money to run an affiliate marketing business. Most of the affiliate programs are free to join and you can absolutely market your product for free on platforms such as YouTube, Pinterest, Forums, etc, and still make a handsome income.
However, you’re going to put in a lot of effort in order to see success and it’ll take much longer than if you invest in advertising, software, tools, products to grow your business.
You can read more here on: It Cost How much To Do Affiliate Marketing
How Much Can Affiliate Marketers Make?
How much you can make doing affiliate marketing is endless. I mean there’s no specific amount of income design for one to earn doing affiliate marketing.
That said, you can earn anything from $0 to $100,000 or even more depending on your effort, the amount of targeted traffic you’re getting on your affiliate offer and your knowledge level about your niche, and the quality of your content.
Generally, most beginning affiliates earn anything from $100 to $1,000 per month, average affiliates earn $10,000 to $45 per month and top affiliates earn $100,000 or more per month.
How Long Does It Take To Make Money Online With Affiliate Marketing?
Making money with affiliate marketing takes time, however, you can start making your first commission within 6 months or a year if you work hard enough by promoting more helpful content on your website and you’re generating a good amount of targeted traffic on your affiliate offer.
It doesn’t have to take you 3 to 5 years before making your first affiliate commission if you do things properly.
You can read more here on: How Long To Affiliate Marketing
Is Affiliate Marketing Saturated
Well, the answer to this question can be YES and NO in some cases. However, affiliate marketing is not saturated in general.
It is only getting saturated in certain niches such as health & fitness and the finance industry. This is simply because more and more marketers are jumping into this field because they see a lot of money being made in these niches.
That said, if you want to be successful with affiliate marketing today, the best path to take is to go after a niche you’re passionate about, which is relatively low but has a high search volume.
Going after a niche like Health & Fitness, chances are that it’ll take you forever to make your first affiliate sale.
Is Affiliate Marketing Worth The Effort
Absolutely yes, affiliate marketing is worth the effort. The affiliate marketing industry is expected to increase to 8.2 billion and this alone shows that affiliate marketing is going to be with us in the coming future.
In the years to come, we’ll still see affiliate marketing growing tremendously by adopting new technologies, strategies, and trends.
So, if you’re looking to start an affiliate marketing business or you’re already into it.
And you’re wondering if this whole business model is really worth your effort or not, yes it’s still worth the effort and you’re not behind.
Staying updated and learning new things is the key to success not just in Affiliate Marketing alone but in other fields as well.
Affiliate Marketing has developed and adapted new marketing strategies so be willing to learn from your mistakes as you go along.
Investing in a course and learning how to properly approach affiliate marketing the right way is the best investment for anyone who wants to get started with affiliate marketing.
You can read more here on: Is Affiliate Marketing Really Effort The Effort
Is Affiliate Marketing Still Profitable?
Yes, it is. Affiliate marketing is still profitable and will be profitable for years to come as more and more companies are getting online and are willing to pay affiliate marketers to promote their products for them.
However, affiliate marketing is only profitable for people who build relationships and trust with their audience by first offering valuable content that solves their audience problems, before recommending a product to them to purchase.
You can learn more here on: Is Affiliate Marketing Still Profitable
Why Is Affiliate Marketing So Hard?
Well, generally affiliate marketing is not hard. But it can be hard if you’re just starting out with no proper knowledge and guidance. However, if you have the right help everything becomes easy.
So, commit to learning everything you can about affiliate marketing and implement what you learn and you will get there.
You can learn more here on: Is Affiliate Marketing Difficult or Hard
Can I Join Multiple Affiliate programs
“Well, the answer to that is yes. Promoting more than one affiliate product can allow you to make more money in your affiliate business. But if you’re just starting out I highly recommend you focus only on promoting one offer before moving to another one (stern)”.
Promoting more one than one product can get you overwhelmed which is the main reason why most newbie affiliates fail.
So, after you get used to promoting one product and you’re getting enough attraction with that product, then you can promote something different.
So, first, focus only on one offer then something else later.