Are you considering joining the Gig economy? In other words, are you interested in earning a living as a freelancer?
There are many ways to generate an income from anywhere in the world as a freelancer. As you can imagine, it is very difficult to quantify the global number of people working as freelancers as they fall outside of the formal economy. However, there are statistics that show that almost one in five Americans currently work in the Gig economy.
If nothing else, these figures show that participating in the Gig economy is a viable way to fund your lifestyle of choice. It is also worth mentioning, at the outset of this discussion, that it is not a bad thing if you are new to the freelance industry and need advice on how to proceed. The good news is that there are companies like Learn How Blogging that are well-versed in the art and science of “how to make money as a freelancer.”
Ways to earn an income in the gig economy
There are several different ways, including content writing, affiliate marketing, blogging, and acting as a virtual private assistant, to derive an income as a freelancer.
Affiliate marketing is considered a solid way of generating a reasonable-sized income. However, as with most other income-generating methods, affiliate marketing needs to be thoroughly researched to ensure that you understand the steps required to make this marketing strategy work.
What is affiliate marketing?
Before we look at ways to help you leverage your chosen affiliate program like the Nordstroms affiliate program, let’s look at a succinct definition of what affiliate marketing is:
The website, Investopedia.com defines affiliate marketing as the selling of another brand’s (or company’s) products and services on their behalf.
The biggest advantage to affiliate marketing is that you do not have to spend any money on product development. You leverage other brands’ products to earn commission on any sales derived from your digital marketing efforts.
This sounds simple enough; however, it is important to ask how much can you earn from this income generation method?
By way of answering this question, it is essential to note that an independent survey was commissioned by the Rakuten Group, and it returned the following statistics:
- The total spend on affiliate marketing-derived products globally will more than likely reach 6.8 billion USD by 2020.
- 90% of brands believe that affiliate marketing programs are an integral part of their marketing strategies.
- Brand marketers believe that up to 20% of their sales are derived via affiliate marketing programs.
Making money by signing up with affiliate programs
As mentioned above, the most important advantage to signing up with an affiliate program is that you do not need to develop your own products and services. Your income comes from the company that owns the brands that you market on your website. Simply stated, every time a visitor to your website clicks on the product’s link and purchases the product, you will receive commission on the sale.
All that is left to say is that, if affiliate marketing is the way you would like to earn an income, all you need to do is to decide what products and services you would like to market. Should you need some ideas, look at the best niche website ideas for 2018 YouTube video.
Finally, start building your business, financial, and marketing models as soon as you’ve decided on a range of products to sell. The longer you wait, the greater the time between the launching of your website and the receipt of the income that you can derive from this site.