Can Affiliate Marketing Make You Rich? How Much Can You Earn?

This post may contain affiliate links and I may receive a small commission if you make a purchase using these links – at no extra cost for you. Please read my disclaimer here.

Affiliate marketing is one of the fastest growing professions in the world, and it’s a lot more lucrative than you might think. But how much can you really earn with affiliate marketing? Can affiliate marketing make you rich? 

In this blog post, I'll walk you through some of my financial tips as an affiliate marketer along with some extra advice on how you can make bank as a successful affiliate. Keep reading to find out more.

How much do affiliate marketers earn on average?

This is a tough question to answer and it helps to consider the type of affiliate. There are many different types of affiliates, and they all have their own unique offers, deals, and payouts. Some affiliates don’t even get paid on a monthly basis but instead rely on getting paid when a customer follows through with an offer or purchase.

Can Affiliate Marketing Make You Rich

On average, affiliate marketers earn around $65,800 annually. This ranges from low income affiliates that earn something around $42,000 a year, or the top-earners which manage to take home about $83,000 annually.

It’s important to say that these numbers are not any threshold of some kind. Some affiliates earn less than $42,000 annually, while others earn over $100k.

Yes, there is a HUGE potential for earning more than your average professionals. I’m not going to disclose any specific numbers, but affiliate marketing has allowed me to personally live quite comfortably.

I’ve had the opportunity to take my family on cross-country vacations, for starters. I could go on and on about what affiliate marketing has allowed me to do, but I won’t - at least, not at this moment. 

Can affiliate marketing make you rich?

With the right strategy, yes it definitely can. But it doesn't happen overnight. When I was just starting out, I was earning pennies to be honest with you. Money took too long to get into my account, so I still had to keep going to my 9 to 5. 

It was a difficult time, but I made the commitment to continue working hard and just do what I do. Now, affiliate marketing pays for all my bills including my car and mortgage. It goes without saying that I was also able to quit my full time job to focus on this venture as well as my family. 

I even have time to learn new hobbies now! Can you imagine that? 

Now, don't expect affiliate networking to be a get-rich quick scheme. Personally, while I do make decent money as a marketer, I don't want to get ahead of myself and claim that I'm rich by any means.

I'm nowhere near Kardashian or Bill Gates level. But I am making more money than I know what to do with at this point. My family and I are quite frugal you see, we like the finer things in life, but only if it's worth the money.

My biggest piece of advice when it comes to affiliate marketing is to not expect to get rich overnight. However, the potential is certainly there if you keep pushing and working hard. 

No matter what, I believe you can make a full time income through affiliate marketing if you work hard and stay consistent - which means being active on a daily basis. It's not as simple as just one or two posts/tweets online every now and then. You need to constantly be promoting whatever affiliate offer you're involved with.

Not only that, you also need to make sure you keep your audience hooked. The people who follow your content are your biggest fans and are going to be the people who are more likely to purchase what you promote - so make sure you keep their attention. 

How much can you earn in affiliate marketing? What rich affiliate marketers do to make bank

Now that I’ve talked about the power of affiliate marketing, I’ll discuss what it takes to make money. Let's go over some of my tested and true tips for making it as an affiliate marketer below.

Study your competition

Now, this one might seem like common sense, but you’d be surprised how many people don’t take the time to study their competition. The best way to get ahead as an affiliate marketer is by learning from those who came before you.

competitor_analysis

I know, I know, it sounds so cliché and cliche that it just has to be true! But it really is the guiding force behind my success. 

So, study the other better affiliate marketers in your niche and see what they do well. This may even help you determine their weak points so you can create your own strategy that makes you that much more different from them.

What I usually look for when studying my competition is to find out their traffic and revenue. I’ll often use sites like Ahrefs, Alexa to do this, and you can use the same method.

Now, don’t be afraid to compete against your competitors online. You don't want to lose potential sales because you yourself are being too shy about your own products or services.

You can use tools to see what your competitors are doing on a daily basis. You can do this so you can learn how they make their money. For instance, you should look at their website stats and see how many people are visiting their site and how many product pages are being sold.

Study their online marketing strategy - what ad formats they're using, what keywords they’re targeting and much more.

Search engine optimization

Speaking of targeting keywords, you’re going to need an awesome SEO strategy to help you stand out among the competition. Whether your site is brand new or already has a few years of age, you can improve the online search ranking by including certain keywords within your content. 

seo

While Google AdSense is one way to make money off your website, it doesn't bring in nearly as much earnings as affiliate marketing - at least in my experience. 

Search Engine Optimization (SEO) is a process that helps you create valuable content for people to read and use. If you can get yourself to rank well on Google's page rankings, you will bring in more traffic and increase your income as an affiliate marketer.

One of my top tips when it comes to SEO is to niche down. Find keywords that target very specific audiences - this helps you get ahead of your competition. Think of it as finding a market that isn't over-saturated.

This way, you have more fish in your pond. 

Invest in your branding

One thing I did to get ahead of the competition was investing some money into creating a solid brand.

Branding is the most important part of affiliate marketing - if you don’t have a strong brand, your website will be seen as amateur and less trustworthy. As a result, you won’t see many sales on your site or have customers return to purchase what you promote.

One thing that I did was get my name out there as much as possible - this helped me to establish trust with my customers. However, I also made sure that my brand stood out from other brands in my niche.

I chose to do this by creating extremely unique content (for instance, you could create custom videos on YouTube) that was around creative topics. This gave me an opportunity to stand out and made people want to purchase what I promote. Although it may sound complicated, it's actually something you can learn pretty easily if you put the time into it.

If you’re brand new, don’t worry about that just yet. Instead, focus on getting your website up and running, then once you have all of this information laid out for you, start to publish blogposts as often as you can. This will help with branding and build a base for you to use later on in your affiliate marketing journey.

Focus on your content

High-quality and unique content will keep your audience on their feet. If you can create content that makes your customers want to purchase what you’re selling, then that’s additional income for you on the backend. So, make sure your content is top-notch.

Focus on your content

You can get creative with it - just make sure it's high quality. Don't just run some generic blog post and expect to sell a lot of products with that!

So, focus on creating thought-provoking content so you can set yourself apart from other affiliate marketers in your niche. There are tons of great content platforms where you can create money-generating content, such as YouTube or your own blog.

Once your website is up, take the time to format it so it’s easy to read and also in a format that makes it look professional. If you do this right, people will love what you have to offer and will trust your brand.

Focus on one social media platform at a time

Many affiliate marketers will try and focus on multiple social media platforms at once, but I urge you to not do this. It’s better to find one platform that really works for you and invest more time into that.

Take the time to find out where your target audience hangs out. This way, you can find the social media platform that's going to be the most profitable for you .

For instance, I focus on SEO (Google) and Facebook because that's where my target audience hangs out. If you are not already making money on these spaces, then you can focus on other places. 

Focus on one social media platform at a time

When I was starting out, I made the mistake of trying to manage accounts on all social media platforms. Twitter, Snapchat, you name it. But it ultimately just wasted my time. The way I see it is if you take the time to establish yourself on one platform at a time, you won't have to worry about convincing your audience to trust you - it should come naturally.

Take it one step at a time and you'll eventually see the results you want.

Get focused

One of the biggest mistakes when it comes to affiliate marketing is losing focus and becoming overwhelmed. When you are learning how to become an affiliate marketer, it’s easy to get distracted by other things in your life. To make sure you don't, set a schedule for yourself where you will only focus on one thing each day at a time. This way, you won't get overwhelmed and lose sight of your goals.

For instance, I do it by focusing on my business for a few hours each day, then go work on other things afterwards. If you don’t set aside a certain period of time to work on your business and schedule out your day, then you will be more likely to get distracted by other things and not hit your goals.

Run the right ads

I don't mean just promote all your posts, I'm talking about the actual ads you use on your website. When you run the wrong kind of ads, it's not only going to cost you money, but it will also have an impact on your search engine rankings. The last thing you want is to have this happen because it will decrease your revenue down the road.

When it comes to Facebook Ads, there are certain types of posts that work better than others - this is because Facebook changes their algorithm every now and again.

That's why you'll want to stick with certain ads and make sure you tweak them over time to optimize ad performance. The easiest way to do this is by using Facebook Ads Manager and the "Split Test" feature. 

The takeaway

These were a few really good tips to help you make more money with your blog. I think affiliate marketing is a great way to start a business, so if you're interested in building your business and making it work for you, then affiliate marketing will be right up your alley.

Don't get discouraged if it takes time - even the best affiliate marketers took some time to build their businesses up before they started seeing any real income. If you want to learn more about affiliate marketing, there are plenty of resources out here that can teach you.

I'd love to hear your comments below! Have you ever experienced anything like this?

Or do you have any other tips that might help fellow entrepreneurs succeed with affiliate marketing?

Let me know in the comment section below!

Are you interested in more?

How to Start Affiliate Marketing With No Money

Youtube Affiliate Marketing: How to Make Money

Selecting The Best Affiliate Marketing Niches For Your Small Business

Affiliate Marketing on Reddit And Quora: a Step-By-Step Guide

About the author 

Peter Keszegh

Most people write this part in the third person but I won't. You're at the right place if you want to start or grow your online business. When I'm not busy scaling up my own or other people' businesses, you'll find me trying out new things and discovering new places. Connect with me on Facebook, just let me know how I can help.

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}