Looking to add a new income stream or bring in passive income? Affiliate marketing may be a great option.
Simply put, affiliate marketing helps “other brands or companies sell their products or services, and on the flipside, you’re helping customers or decision makers find the best product and service for them,” says Nick Loper, who runs the blog Side Hustle Nation.
Earnings could come from touting products in blog posts or podcasts, for example, and including special so-called affiliate links from partner companies that bring people to those products. When people purchase the products through the affiliate link you included, you earn a commission on that sale.
Loper’s blog brings in $10,000-$15,000 per month in affiliate marketing revenue. But, he cautions, that success in part comes from the site being “eight years deep in the making.” Here are a few things to keep in mind if you’re considering affiliate marketing.
Cast a wide net for affiliate partners
Some side hustles have ample opportunity already built in for affiliate marketing. For example, if you already have a newsletter or YouTube channel, you can include affiliate links or mentions in them.
Websites including CJ Affiliate and ShareASale connect content creators and companies looking for affiliate partners. Creators sign up on the platform and can peruse various brands that pay to be on the site. They pick out the ones that fit their audience and subject matters and get access to affiliate links for their site.