Recommend a product and earn money with successful referrals – that is the strategy of affiliate marketing or recommendation marketing. But what do you have to consider if you want to start as an affiliate? You will find out in this article!
It is probably the simplest business model on the Internet and can be easily practised by almost anyone who is on the World Wide Web: the strategy of affiliate marketing. The market is growing, so making money with referral marketing is no longer a science. In the following article, you will find out which referral marketing jobs are available and how you can establish yourself in this area.
Can you really make money with referral marketing?
Clear answer: Yes! To name just two numbers: The global affiliate market is worth around 17 billion US dollars. In addition, over 80% of all brands work with affiliate programs that work on the principle of referral marketing. The relevance of this business model cannot be disputed. Therefore, you can easily earn money with referral marketing – and without any above-average technical know-how or too much time investment.
Referral Marketing: Examples of Success
Of course, numbers can say a lot, but the potential of affiliate marketing is even better demonstrated in concrete cases. In the following, we introduce you to 3 people who are excellent examples of successful referral marketing
MARTIN LEWIS (MONEY SAVING EXPERT)
British journalist Martin Lewis is another referral marketing example of how a vague interest can grow into a lucrative business model. His goal was actually only to deal with the topic of saving. He shared these experiences in his blog “MoneySavingExpert”, which attracted numerous readers with well-researched articles and useful financial tips. Lewis took advantage of this stream of visitors and placed products from partners – such as insurance or credit card providers – in his posts. With the trust placed in his brand, he was able to make money through his blog.
What else is important if I want to make money with referral marketing?
If you’re thinking about making money with referral marketing, there are a few things you should consider beforehand that could otherwise cause problems:
- Remember that affiliate marketing is a business, even if you only do it as a side income or as a hobby. As a result, you have to register it with the trade office.
- This also means that you have to pay attention to taxes in affiliate marketing.
- Above all, if you want to earn money with affiliate marketing, you have to be aware that it also takes time and patience to establish yourself as a referrer.
- Do you already know which referral marketing job you want to take on? Otherwise, it can help to take a look at the trends in affiliate marketing for inspiration.
- Do your research beforehand to avoid common affiliate marketing mistakes. This way you can make your start much better.
Conclusion: Earning money with recommendation marketing needs to be learned
If you want to make money as an affiliate with referral marketing, there are a few basic things to consider before you blindly plunge into the online adventure. But if you jump in with enough preparation and patience, you can build a lucrative business pretty quickly.
Referral Marketing FAQ
How do you do affiliate marketing?
With affiliate marketing or referral marketing, you recommend a product or service. If someone then becomes a customer through you, you will receive a commission. This is how you can make money with referral marketing.
Is Referral Marketing Legal?
The referral marketing model is a perfectly legitimate way to make money. It is not without reason that over 80% of brands work with affiliates to promote their products.
Which products can I choose for affiliate marketing?
It all depends on what area you know your way around and what you have built a reputation on. Experience has shown that referral marketing works best in similar industries.