Can affiliate marketing make you rich in 2021?

[Honeybadger]

There is a good Awin blog post --> Can affiliate marketing make you rich in 2021? written by Kimberleigh Gardener on January 12, 2021

In 2020 many people lost their regular job because of Covid-19 pandemic and chose alternative income, one of which is affiliate marketing, this Awin post goes to some details (but not detailed detail !!) about

1. how much money you need to spend at the beginning
2. how you measure success
3. beginners tips and best practice

I will say this post is best for affiliate marketing newbies that started in last 12 months (like me), but its also good refresher for more experience affiliates

The title is a bit clickbait - I would use more realistic title question --> Can affiliate marketing pay your bills in 2021? because it's more likely to help you meet your financial obligation than put $1million in your bank account, without the stats it wouldn't surprise me if 1 affiliate marketer in 1 million who start actually earn $1million

Some good tips

1. Be prepared for the long game (not overnight success)
2. Consistency is key, so publish good content often
3. Don't always 'sell' to people if you want their trust - 1st provide value
4. Choose brands carefully because brands you promote will affect your brand
5. Open your online banking facility - very important
6. Always use SSL certificate on your blog (watch what happens if you don't !!)
7. Choose organic or paid traffic (or both) but remember, you can't pay for trust
8. Calculate your ROI based on commission earned versus costs incurred
9. Factor cost of bespoke content like blogs, photos, image editing, banners, videos, adverts
10. Get to know affiliate marketing terminology like CPA, CPC, PPC, Creative, Opt-In, Tracker, Niche, Charge-Back (Affiliate Fix has good list --> Glossary of Affiliate Marketing Terms)
11. Decide your product promotion method, low-ticket-high-volume versus high-ticket-low-volume
12. Create clear plan for your affiliate marketing business
13. Choose a niche not just trend, trends fade so choose strong niche (clothing fashion - my niche - is one of most popular niche in affiliate marketing, and its global in every language, always new products every day of the year)
    
14. Choose interesting niche you don't get bored with, because even when I started to earn $2,000 - $3,000 per month boredom kicks in and it made me lazy (not want to work) - DON'T GET BORED EVER, just because task is boring you can choose exciting approach to anything
15. Perform niche research about your chosen audience and latest trends, there are many blogs with statistic data and tools like Google Trends
16. Build your audience over time with real content/value and engage with your subscribers in meaningful way (again, don't just sell to people or they will unsubscribe)
17. Don't get overwhelmed by all the data in affiliate marketing, check out the Awin Success Center for practical help and answer your questions

Disclaimer --> I have no connection to Awin, not affiliate of Awin and this post doesn't contain any affiliate links, it's just a review (my 1st one ever) to learn & share with Affiliate Fix community

 

[Digiation]

Do it in the right way it will make you rich but it takes time

 

[Brack Nelson]

Thanks for sharing such knowledgeable tips, But should a beginner also apply these strategies? I mean it's tough to apply all being a newbie in this field.

 

[CPARK]

Good tips and useful! Affiliate marketing takes time, but you definitely need to try it

 

[Graybeard]

In 2020 many people lost their regular job because of Covid-19 pandemic and chose alternative income, one of which is affiliate marketing,

More people (read: affiliate marketers) are competing for a smaller pie. Is it really smaller?
Much traditional local retail has moved online towards reducing pandemic exposure.
In some marketing areas the size of the potential pies has grown.
Wall-of-words aside; You need to identify these growing markets and capitalize on them.

 

[AdamLatiff]

The answer will be a big YES, regardless of the year.

 

[Honeybadger]

In some marketing areas the size of the potential pies has grown.
Wall-of-words aside; You need to identify these growing markets and capitalize on them.

@Graybeard which data sources do you use to find these opportunities?