Affiliate Marketing for Retirees
A 3-minute easy-to-read guide to help you earn passive income
This guide is for retirees and those about to retire in the next few years. It will help you understand how to create passive income using affiliate marketing.
What is affiliate marketing?
Affiliate marketing is money made from referral links. You get these links by signing up on affiliate marketing websites, or directly with online retailers. These links are placed on your website, social media, emails, and wherever else you are allowed to place a link to generate traffic. People who click on the link and purchase a product equals a sale for the retailer. As the middle-man, you get a small percentage of the sale profit deposited into your account.
Do I need special skills?
You don’t need special skills other than understanding how the internet works. It helps to have a website and social media accounts. You need to think in terms of reaching your audience with enticing posts about a product or service so that a user will buy. It sounds simpler than it is because it takes time to grow a following.
How much does it cost?
There is no cost for you to sign up as an affiliate. There is no cost to the purchaser of a product who uses your affiliate link. The profit is made in the sales transaction and is a predetermined percentage amount of the sale. Basically, you are giving an online retailer free marketing in exchange for a tiny piece of the pie.
How long does it take?
It depends on many factors. Mainly how big is your following? How much time do you have to build a large audience to follow your website, social media, and other places on the web like Medium, who like your recommendations and therefore click on the link to learn more.
On the other hand, you could have a small but faithful following of people who get exposed to products and services you recommend that they never tried before. Either way, you have to keep the traffic flowing.
Therefore, the key to affiliate marketing is to build up a following.
Which companies should I affiliate with?
There are a lot of affiliate companies out there that specialize in partnering with a huge variety of retailers. A few that come to mind; CJ, Refersion, Impact Radius, Share-a-Sale, etc.
I think the best way to start is by searching for products and services you already use and like and can speak about firsthand. Then check their website to see if they offer an affiliate program. From there you sign up and start your venture into affiliate marketing.
Retirees with time on their hands can turn a hobby into a lucrative pastime
There are no guarantees as to how much passive income you can earn. Anyone who tells you otherwise should be taken with a healthy grain of skepticism. After all, what works for one person, doesn’t work exactly the same for another.
But if you keep your focus on the goal and apply all the right methods, it’s possible to earn a passive income. If you’re really not sure about this, ask your Grandkids to help you out ;)
Good luck!