Affiliate Marketing – The New Retirement Plan
The state of today’s economy has everybody in a state of flux. Nobody is in a more precarious position than those who are close to retirement age. Day after day more and more people over 50 are losing jobs they have held for 20 years or more. This population has been hit hard. First, the economy tanks and takes their retirement funds along with it. Because the economy has slowed, members of this population are now the first to lose their jobs, as it is more expensive to keep them on compared to a newer employee. To top it all off, these folks can’t find a job because they are competing with 20-somethings who will move back home after college and make less money. This segment of the US population is in real trouble and is looking for alternative means to make money. Many of them are turning to affiliate marketing.
What is affiliate marketing?
When you think of affiliate marketing, think of a freelance salesperson. Affiliate marketers promote products and services for other individuals or companies. When someone buys from an affiliate, the affiliate makes a commission. The great thing about affiliate marketing is that there is no physical inventory for the affiliate to maintain. You simply promote the product. The producer of the product handles the distribution. You make the sales and collect the commissions!
What will I promote?
There is no shortage of products to promote on the internet. You can promote anything from books to software, blenders, and even shoes. In order to figure out what to promote, you’ll need to determine your niche and target market. A word of caution – some affiliate products are free, but some of them require you to purchase the product first. Otherwise, choose products you believe in or have used. Your buyers may have questions about the product. You won’t be able to answer them if you’ve never used the product. Maintain your integrity as an affiliate marketer. If your buyers believe you’re merely pushing products, they won’t buy from you.
How much money can I make?
There is money to be made in affiliate marketing. HOWEVER, it’s not going to happen tomorrow. It takes time. There are a great number of affiliate marketers who make six figures annually promoting products.
With that out of the way, the percentage of commission varies by the product. The industry average for commissions is about 30%. Some products pay a greater percentage and some less. It is your responsibility to do the math to see if the product is worth your time to promote. Promoting a product that pays 20% of $97 is better than promoting a product that pays 30% of $40.
How to get started
Getting started in “affiliate marketing” is EASY! Most people know about promoting products on Amazon, but did you know that companies like Walmart, Target, and Barnes & Noble offer affiliate programs as well? Do you use Internet marketing tools such as a paid memberships or autoresponders? Odds are there is affiliate income available there. One of the best places to find products to promote is on Clickbank.com. For retailers, go to their website and scroll down to the footer. There is usually a link to sign up for their affiliate program!
This economy is forcing people to seek alternative means of making money, especially those in the retirement window. Is your 401K now -401K? Don’t wait for a traumatic event to put you in a desperate situation. Go to Clickbank.com or Amazon.com to get started on your affiliate marketing journey today!