Should You Become an Affiliate Marketer? Earning Passive Income in 2024

Have you ever heard of affiliate marketing? It's an easy way to earn passive income, and it’s oftentimes much simpler than making money from things like renting out property (for example). The best part is, it’s pretty low maintenance and tends to come with high rewards.

This makes affiliate marketing an especially popular choice for social media influencers, bloggers, and solo entrepreneurs with active websites. In fact, over 80% of businesses have an affiliate marketing program. Plus, more than 15% of affiliate marketers earn over $50,000 a year in passive income.

In this article, we’ll be discussing the process of affiliate marketing, finding the best affiliate program, and how you can get started. You’re only a few steps away from earning passive income in 2024. Let’s get started!

What is Affiliate Marketing?

Affiliate marketing is a way for people to earn money by promoting products from other companies. Here's how it works: you find a product you like, promote it, and then earn a commission for every sale made through your promotion. The sales are tracked using special affiliate links that connect different websites.

Affiliate marketing is an excellent method for boosting sales and making money online. It's beneficial for both the brands and the affiliate marketers. This approach to marketing is different from traditional methods and it has been proven to be very successful.

The idea behind affiliate marketing is to share the tasks of promoting and selling products among different people, which makes the marketing efforts more effective and allows everyone involved to earn a portion of the profits. Now, let’s talk about whether or not you should become an affiliate marketer based on your circumstances.

Should You Become An Affiliate Marketer?

If you’re a solo entrepreneur, small business owner, contractor, gig worker, freelancer, blogger, or influencer, you can become an affiliate marketer. All you need is a website or social media profile, some content (like videos or blog articles), an audience, and a business willing to pay you to promote their products.

As an affiliate marketer, you place a link to another business on your website, social media profile, blog, newsletter, etc. When someone clicks on that link and makes a purchase, you earn a commission because you promoted the product or service. In other words, you’ll be making money while you sleep.

Of course, the high passive income isn’t the only reason people become affiliate marketers. It also offers increased flexibility and a better work-life balance. Some affiliate marketers take the plunge and quit their day jobs to pursue affiliate marketing full-time. Others keep their 9 to 5 jobs and do affiliate marketing as a side hustle to generate extra income.

How To Make Money As An Affiliate Marketer

Have you heard of the influencer, Grace Lemire, who made $6,600 in one month from product advertising? Or how about Niccoya Thomas, who earned $56,000 in one month from brand partnerships?

You might be wondering how they accomplished this, but it’s actually quite simple: they had followers, excellent content that captivated their audiences, and brand partnerships. Here’s how you can get started in affiliate marketing:

Develop and Build Your Following

The larger your audience, the more potential consumers you can reach. Influencers making thousands of dollars per month usually have hundreds of thousands — or even millions — of followers.

Partner With Brands (Preferably Brands That Pays High Commissions)

Whether you run a blog for new moms or vlog about your travels, it’s a good idea to partner with trustworthy brands that you’re proud to promote. Look for brands with high ratings and successful products. By partnering with well-regarded brands, you can drive more transactions and feel good about your recommendations.

Affiliate marketers typically earn either a percentage commission or a flat fee per sale. Percentage commissions can range from 3-7%, which might seem small depending on the sale amount. This is why you should look for brands that offer a flat $100+ per sale. It’s easier to increase your earnings when you partner with a beloved brand that pays high commissions.

Earn More With LucasGift

Are you looking for a fantastic affiliate partner? LucasGift is a great choice as far as affiliate programs go because it offers personalized gifts for every occasion, including personalized graduation gifts. Their commitment to quality and customer satisfaction means you’ll easily be able to build trust with your audience.

If you’ve been looking for an affiliate partner with a generous commission structure (not to mention a reputable brand), then you’re in the right place. With LucasGift, you’ll get to earn more and feel good about the products you recommend to your audience. Feel free to visit the LucasGift affiliate program website to learn more. You’re this close to boosting your affiliate earnings!