Every single business model, which is new, always seems extremely rewarding and easy but the reality is always something different.
What happens is that a lot of content creators on various platforms like YouTube, Google, and social media make the process look way easier than it actually is.
Is the story the same with affiliate marketing as well? Can you really get rich from affiliate marketing?
I have been an affiliate marketer as well as a blogger for the past couple of years and in this post, I’m going to break it down to you whether or not you can make a lot of money with affiliate marketing.
Other than this, I’m also going to share with you, who have managed to become successful as affiliate marketing, why it’s a great industry to work in, why it’s not for everyone and the most important thing than all of these – how you can get rich in the industry for a better life.
So, we’ve got so much to cover this time. Let’s not waste any time further and jump right into the pool of content real quick!
- Can Affiliate Marketing Make You Rich?
- Who Have Become Rich With Affiliate Marketing?
- Why Is Affiliate Marketing A Great Industry To Get Rich?
- How To Get Rich With Affiliate Marketing
- In Conclusion
Can Affiliate Marketing Make You Rich?
Affiliate marketing is a very big industry that has a lot of potential in terms of generating revenue for people at scale but the answer to this question is always going to be – ‘it depends’.
This is what every marketer and blogger is going to tell you but I have a bit different and straightforward answer for you:
Yes, affiliate marketing can definitely make you rich if you focus on building a quality audience base first, create valuable content, build rapport with the people, and then promote affiliate links for commissions/earnings.
That’s correct! It is possible for people to get rich with this business model for sure. If we hop on to the statistics, you will be surprised to know that the global affiliate marketing industry is worth over $12 billion and it’s not going to stop here.
We all know that it’s not going to stop here, right?
If that’s the case, this means a lot of people are generating big revenue in the business and there’s a lot that can be made by you and me as well!
So, yes, it’s positive! You can definitely get rich as an affiliate marketer but at the same time, you will have to consider the following pointers:
- It’s going to take a lot of hard work upfront
- Things won’t take off the first day – it’s going to take some time
- You might face a lot of failures in the beginning
Whatever is written above is pretty basic but critical when you are going out there and building the marketing business of your dreams.
Now, let’s find out who are the people that have gotten rich from affiliate marketing…!
Who Have Become Rich With Affiliate Marketing?
Well, this is quite an interesting question that I always wanted to answer because I just love listing my favorite affiliate marketers and I didn’t get a chance yet!
But here you go! Be informed that I only am going to list a few out of thousands and thousands (or maybe even millions) of affiliate marketers in this list.
The affiliate marketers who have become rich (aka made a lot of money) are as follows:
- Pat Flynn
- Neil Patel
- Russell Brunson
- David Sharpe
- John Crestani
- Jim Harmer & Ricky Kesler
Pat Flynn is one of the very first action takers in the affiliate marketing industry. He was able to build a business that generates money while sleeping when everyone was opening brick and mortar stores. His net worth, as of now, is around $5-10 million.
Neil is an extraordinary marketing guy who has been able to build a successful affiliate marketing and a social media marketing agency business in just a short period of time. His net worth is around $30 million.
Another amazing internet entrepreneur and a super affiliate we have here is Russell Brunson. He is a bestselling marketing author and a great mind to learn from. His net worth is expected around $40 million.
David Sharpe is a person I personally learned affiliate marketing from. He is an expert when it comes to selling affiliate products and digital courses online. He was able to generate over $250 million in sales, in a short period of time.
John Crestani is a popular affiliate marketer and the creator of the Super Affiliate System. He currently teaches marketing on YouTube as well as through his own program. His net worth is estimated at around $10 million.
Jim Harmer and Ricky Kesler are my favorite affiliate marketers, bloggers, and online investment advisors of all time. Their followers love the value they bring to the table. As of now, their net worth is estimated at around $10-20 million.
As you have seen, people are generating huge sums of money with this business strategy. And I have only listed a very few of them…there are so many others who are working without showing their face at all.
And yes, it’s possible. You can be one of them as well! Everything is possible if you put in the effort and show up consistently.
Why Is Affiliate Marketing A Great Industry To Get Rich?
Well, there are a lot of reasons why it’s a great business model to implement and a great industry to work in for becoming wealthier.
Some of them are as follows:
- Easy-To-Understand Functioning
- Extremely Passive Business Model
- No Limit On The Profits
- No Product Required/No Customer Service Solutions Required
1. Easy-To-Understand Functioning
The first reason why this is a fabulous industry to get prosperous is that the functioning of the business model is very simple to understand.
All you have to do is get traffic to other people’s offers/landing pages and whenever people are going to buy from the vendors, you will get paid commissions.
Simple as that! There’s no coding or programming is required to be able to start this freelance digital business.
2. Extremely Passive Business Model
The second reason why I think it’s a really good industry to work in for the better is that you don’t have to work or manage things all day long.
There’s no going out to the office required. Even a physical team isn’t required as well. You could carry things forward with ease by working as a single individual…and that too for an hour or two a day.
It’s so passive that you will be making money while you sleep, take your dog for a walk, have a chat with your friends and family, or do anything else that you love.
3. No Limit On The Profits
There are a lot of good businesses out there that can make you a lot of money but at some point, it becomes almost impossible to move forward when you want to increase the profits or in other words, try to scale the business.
That’s not the case with affiliate marketing. You can hire a small team of professionals, create a way, and scale things very easily and quickly.
4. No Inventory or Customer Service Required
The fourth reason is that you don’t have to manage heavy inventory or provide any customer service solutions but still earn passive profits that can be recurring as well.
All you need is a laptop, an internet connection, and a jolly mind to work for an hour or two a day. No strings attached!
How To Get Rich With Affiliate Marketing
We have learned that you can generate a lot of revenue in this sector but haven’t discussed how that needs to be done, right?
Well, let’s discuss that too. Here are the following steps you are going to want to take to start working and generating income with affiliate marketing:
- Pick A Profitable Niche
- Build A Website(s)/Landing Page(s)
- Get Organic or Paid Traffic
- Double Down On The Process
1. Pick A Profitable Niche
If you want to become a super affiliate, the very first thing you will have to do is pick a profitable niche.
There are a lot of niches out there like dating & relationships, health, cats, dogs, health, finance, etc.
You just have to make sure that the niche you pick should be a profitable one. Now, when I say ‘a profitable one,’ I mean picking a niche that doesn’t yet have a lot of competition and has huge great potential at the same time.
It might happen that you might find a very profitable niche (for example, fidget spinners), generate a lot of money for two months, and then lose the business the next month because people are no longer interested in purchasing them.
Hence, pick a niche that’s evergreen and has a decent room for generating generous income. Once you do that, you will also have to choose a product that is selling remarkably well.
These products or affiliate offers can be easily found on affiliate networks or on blogs like the one you reading right now. Didn’t get it? Click here and you will understand everything perfectly.
2. Build A Website(s)/Landing Page(s)
Once you have chosen the niche and the product, the next thing you are going to want to do is build an optimized website as well as a landing page where you will bring people and then redirect them to the affiliate offers.
While building and optimizing the webpages, make sure you:
- Use trustable colors based on psychology
- Record a short video explaing what the product is all about and place it on the page
- Have a big button with a call to action (and an email optin form if possible)
3. Drive Organic or Paid Traffic To The Pages
The next step is to drive traffic to the website(s) and the landing page(s). To drive traffic, you will have two options – organic methods and paid methods.
Organic methods consist of:
- Blogging and Search Engine Optimization
- Posting On Facebook, Instagram, Twitter, and other social channels
- Starting and building a YouTube channel
Paid methods consist of:
- Search Engine Marketing (SEM)
- Paid social media advertisements
- Solo advertisements
- Influencer marketing
These are some great ways of driving traffic to your pages. If you are confused about what to pick, I would suggest you pick blogging and YouTube if the budget is tight and go first SEM, paid ads, solo ads, and influencer marketing if you have got solid capital to invest.
4. Double Down On The Process
Now that you will start getting traffic, you will start generating sales and commissions. The next step you are going to want to take is to double down on the process for seeing big results.
If you are making ten grand a month with YouTube by posting 10 videos per month, increase that to 30 videos a month and the income will increase too!
It’s all about increasing productivity after you have a good understanding of how things work.
Also, you can watch this sweet video by Pat Flynn where he shares how he was able to earn over $300,000 in commissions from a single product:
The business model of affiliate marketing has always been close to my heart but ver the years, I have also seen that thousands of people start it with a lot of excitement and end up returning to the point where they started in a very small time frame.
That’s because a substantial amount of time isn’t invested in the learning process. Before you will make those big commissions and own those fancy materialistic models, you will have to invest time, money, and energy.
I say this every single time and I will do it this time as well – nothing is going to happen overnight. The more time you will invest into the projects strategically, the better returns/benefits/rewards to reap!
I hope this post answered your question and you found it helpful. In case there’s a question you have in mind, please use the comments section below to send it to me.