Akaahan Terungwa has kindly written this guest post on affiliate marketing as an option to retirement. He is a passionate freelance writer and a dedicated affiliate marketer who I have known and respected for several years.
So take it away Terungwa ……
The concept of retirement is an awesome and honorable one: waking up when you like, playing with the grandkids and receiving a paycheck at the end of the month to pay the bills is many a Baby Boomer’s idea of a perfect life.
However, while the concept of retirement is a noble ideal, it is getting loftier by the year and the dream of sitting on Grandpa/Grandma’s rocking chair all day long playing with the grand kids and waiting for the next paycheck is becoming an illusion for many.
With needs/wants pilling up and savings reserve taking a steady, downward plunge, it is only reasonable to look outward to some smart business option that will task your strength moderately, make you come alive again and importantly, help you earn a side income.
One of such business models is the network marketing variant which has already been brilliantly treated by Sue here. The second option, our business for today is affiliate marketing – and we’re going to see how it can serve as an option for retirement.
What is Affiliate Marketing and why is it Perfect as an Option for Retirement?
Affiliate marketing involves the fact of recommending products (or services) of a merchant/seller to someone else.
Upon the purchase of that product/service by the person you recommended same to, you’re paid a token for that recommendation.
This token can range from a few cents to over $1,000 depending on the company and the product in question.
Now, here’s the sweet part: many of the products you already use on daily basis have affiliate programs run by the various marketplaces they are sold on (like Amazon) or have a dedicated affiliate program run by their manufacturers directly.
So, instead of simply referring someone to that awesome soap of yours or the perfect winter socks, it is a smarter way to give the person the link instead. When you do so, you’ll be referring an awesome product to a loved one and also making passive income as an affiliate from such an effort (even when you sleep and snore deeply).
The best part: links can be shared directly or via social media. However, for some of the world’s best affiliate programs, a simple blog is a prerequisite. Luckily, this is something that you can manage without much stress or ado.
Basics of Affiliate Marketing, an Example and what is Needed to Succeed
Affiliate marketing is one of the easiest ways to earn consistent passive income online. However, for beginners, it is very important to get the basics right:
- Set up your blog and decide on a niche.
- Sign up with a trusted merchant (like Amazon) and select the range of products you want to promote. These products must be in your selected niche.
- Write about these products in posts, run detailed reviews about the hottest products in your niche and occasionally, write ‘best of posts’, focusing primarily on keywords with buyer intent.
- Promote your blog/posts on your social media accounts/handles and watch your passive income grow by the day.
If you’re confused about how to set up such a site, take a look at one I recently set up: Best for Seniors Online.
However, it is instructive to note that while this model of making passive income is relatively easy – and as a matter of fact, is a very smart alternative to retirement, it does require some level of dedication and the results that would come out from it will be, right to the archer’s accuracy, commensurate to the efforts put in.
To put into context, I invest about 5 hours every day (on the average) maintaining the various affiliate sites that I run. However, some days, I put in double these hours. You should thus be aiming at 5 hours daily – at the very least, especially in the early days of your experimentation with this model of making passive income online.
Affiliate marketing is a very passive and easy way to earn money as a retiree who is still active and intends to actively engage in productive ventures that will also mean some side income. However, it is not easy/cheap money.
However, when you master the basics, treat it as a business and have a respectable following online, it can prove to be worth your while – and may even earn you more income than your day job had, when you were well younger and stronger!
Akaahan Terungwa is a passionate freelance writer and a dedicated affiliate marketer. He runs several niche sites with the latest being Best for Seniors Online. You can connect directly with him via Facebook.