According to Statista affiliate marketing spending in just the United States alone is expected to reach $8.2 billion by 2022. That's more than triple what it was 10 years earlier. Today I'm going to break down the six highest paying affiliate platforms to use in 2022.
RESOURCES & LINKS:
What is Affiliate Marketing And How Can You Leverage It (video): https://www.youtube.com/watch?v=4ZrSmfo16sk
00:00 – Introduction
00:31 – Bloggers Making Money From Affiliate Marketing.
01:13 – How you can Leverage Affiliate Marketing.
01:38 – The two ways to get paid as an affiliate ( One-Time Payout, Recurring Commission ).
02:40 – Pros and Cons
03:11 – Two Types of Affiliate Platforms.
04:28 – List Of The Highest-Paying Affiliate Networks.
04:57 – Fiverr / Bluehost / Hostinger
Lots of bloggers make money from affiliate marketing. Just look at Pat from Smart Passive Income. A report from Awin shows that 65% of affiliate marketers choose content marketing to generate traffic. With affiliate marketing content creators can make commission by marketing someone else's product or service.
Every time a sale's generated, they get paid out. It's usually a percentage base or even a flat fee based on the lifetime value of the customer that you're driving to those companies, right?
In essence, you drive a buyer, you get paid each and every single time. And if you're getting started with affiliate marketing and want to learn about it, I have a video about what is affiliate marketing and how you can leverage it, and you should see a link for it on the screen if you're watching YouTube.
So there's a huge opportunity for you to monetize your traffic right now, whether you're generating organic traffic through, let's say content marketing, SEO, or you have tons of followers on social media.
But before I give you my list of the highest paying affiliate platforms I just want you to understand that there are two ways for you to get paid as an affiliate.
There's a one-time payout. This is when you get paid right after a sale has been made from your affiliate link. Usually they'll pay you out within 30-60 days after that sale. So here's the problem with getting paid out one time. Your payments are usually more than what the cost that the person just did for that transaction. For example, if they just bought something that was $10 a month, you're probably going to get paid out 50 bucks or even $100.
Now the con with that model, you won't be able to forecast your revenue as each month the sales you generate can vary, which impacts the predictability on how much you're going to earn every single month.
The second type of way to earn affiliate revenue is reoccurring commission. Every time they get paid, you get paid. That's, in essence, the model with affiliate that's monthly reoccurring. Now it's a percentage of the transaction. So if someone's getting charged $10 a month, you may get paid $3 a month or $5 a month. But if that customer lasts two, three years, it can add up to a pretty penny.
Now here's a pro with that. Every month you'll generate consistent revenue. And the more you continually promote that product, the more consistent your income will be. If you promote that platform, that has a low churn rate, high retention, your money will really start adding up over time.
Now here's the con. You're going to make a tiny bit of money every single month. And it'll take a really long time to ramp up. And assuming that platform retains their customers really well, you'll do well. But if not, you'll suffer.
Now, those are just two types of affiliate platforms out there. And now let's dive into affiliate networks so you can get a chance to pick and choose which platform and program is right for you, because each and every single one of these platforms have different programs. And you can pick and choose which programs and certain types of payments you want to go after. And they're all different.
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