If you’re looking to make some extra cash in your spare time, there are plenty of ways to do it. But what if you could make money while you sleep? That’s where “passive income” comes in.
Passive income is a way to earn money without actively working for it. In other words, you can put in the initial effort and then let the money come in without having to do any more work.
There are many different ways to generate passive income, but one of the easiest and most popular ways is through affiliate marketing.
What is affiliate marketing?
Affiliate marketing is a type of performance-based marketing in which a business rewards an affiliate for each visitor or customer brought to the business by the affiliate’s own marketing efforts.
In other words, you can sign up to be an affiliate for a company and promote their products on your website, social media, or through other channels. If someone clicks on your affiliate link and makes a purchase, you’ll earn a commission from the sale.
How much can you make with affiliate marketing?
The amount of money you can make with affiliate marketing will depend on several factors, including:
• The number of visitors or customers you can bring to the business (your “traffic”)
• The conversion rate of your traffic (the percentage of people who buy something from the business after clicking your affiliate link)
• The average order value (the amount of money each customer spends on the business’ products)
• The commission rate that the business offers its affiliates (typically a percentage of each sale)
Assuming that you have a decent amount of traffic and a good conversion rate, you could potentially make thousands of dollars per month with affiliate marketing. Of course, the more traffic and conversions you have, the more money you’ll make. And if you can manage to get high-ticket items like laptops or vacations booked through your links, then you could potentially make even more! ✔️
