72 Hour Income Generator Review
Another one of the easiest ways to make money online in Nigeria is affiliate marketing. Unlike online freelancing, affiliate marketing is BIG and it is more of a business than freelancing, which is about jobs.
What is affiliate marketing?
Simply defined, affiliate marketing is the selling of other people’s products and services for a percentage commission of the sales.
So, each time someone buys a product that you recommend, you get paid a commission as an affiliate marketer.
With affiliate marketing you can have a well setup system in place and make far more money than online freelancing. Though you will still have to work but you can make money while you sleep unlike it is with online freelancing.
You don’t really have to look far to see affiliates making $5,000 a month.
And there are super affiliate marketers making as much as $2m a year online.
You can literally become an affiliate for a HOST of things – digital products, physical products, offline services, personalized solutions, software, etc.
I prefer digital products though.
The main skills required to become successful with affiliate marketing are traffic generation and marketing the products.
It also requires some startup capital if you want to take it seriously which is what I expect of you.
With affiliate marketing, you will need funds for things like:
– Domain ($10 a year)
– Hosting ($60 a year) – can be paid monthly
– Autoresponder (From $19 a month)
– Tracker (optional)
– Traffic (Depends)
The cost of domain, hosting and autoresponder can be lower or higher though depending on where you are buying from and the quantity.
For traffic, how much you will spend depends on how big you want to go.
The reason why affiliate marketing comes ahead of models like information marketing or ecommerce is that with affiliate marketing, you don’t have to do anything about the product sourcing, creation or handling.
That is like 50% of your work done for you.
You only have to focus on marketing the products and getting your commissions.
By the way, if you are just starting, you can make use of certain free traffic strategies to get rolling.
You can effectively promote your affiliate links and get start making money via:
– Whatsapp Chats, Broadcasts & Groups
– Facebook groups
Eventually, most people who start with online freelancing move on to other business models like affiliate marketing where they are able to make more money and have a lot of free time for their family.
Downside of Affiliate Marketing
Here are the downside of affiliate marketing:
1. It Takes Time to Start Seeing Results: Like it is with many online and offline businesses, it takes time to start seeing results and begin making money with affiliate marketing. Consequently, if you are hard-pressed and need to make money fast, affiliate marketing is not for you.
2. You Need to Learn the Trade: As a beginner in affiliate marketing, you need to learn the nitty gritty about the business in order to master the art and become successful. However, if you serious and determined to succeed, you can easily overcome this downside.
3. You Need Paid Traffic to Make Money: Many successful affiliate marketers who make a lot of money from affiliate marketing depend completely on Facebook adverts for their traffic. This means that if Facebook comes up with some harsh advertisement policy, it will have a direct impact on how much you will make from the business.
4. No Residual Income: Another downside of affiliate marketing is that it has no residual capacity even though you can use it to earn passive income. In other words, you cannot buy the same product over and over again.
To expatiate further, if you have purchased the 72 Hour Income Program through my affiliate link, you will not come and buy it again no matter how frequently it is updated. You will see it as the same product and you will not want to buy it again.
But, a product such as toothpaste or bathing soap which people use every day has residual capacity. If you buy it using my referral code in network marketing for instance, you will continue to buy it again and again and again – thereby making more money for me.
Want to learn more about affiliate marketing? If so, click HERE to read more about how you can get started right away.