So, you have heard rumors about affiliate marketing and its tempting benefits.
And now you are wondering if you can afford to start your own online business that brings in that juicy passive income.
It’s a valid concern since many traditional businesses require massive investments to get things rolling.
Fortunately, online businesses like affiliate marketing are easily accessible for everyone because the start-up costs are super low.
How much does affiliate marketing cost then?
Affiliate marketing doesn’t have to cost anything since affiliate programs are free to join. However, you can invest money in training, tools, websites, products, and content to become more efficient in affiliate marketing. It’s recommended have a website (~$13/year for a domain name and ~$10/month for hosting) to do affiliate marketing properly.
In the rest of the post, I’m going to dig a little bit deeper on these costs and what you should do if you want to start your affiliate marketing business.
Let’s get started.
What Kind Of Expenses Does Affiliate Marketing Have?
You might be surprised how little you actually have to spend to create a full-time affiliate marketing business.
It’s possible to do affiliate marketing with spending as little as nothing but I really don’t recommend going the cheap route. It’ll make things unnecessarily hard and you’ll have a hard time making a business out of it.
No worries, you don’t have to spend a fortune either!
All you need is a simple WordPress website and some training to educate yourself.
Those two rather cheap ingredients alone are enough to build a fruitful online business as long as you dedicate yourself to it.
Content writers, fancy tools, web designers, and designing a logo are all optional and can come later once you are established and want to scale your business.
You can easily spend a lot of money on junk that you don’t need when starting so I made a small priority list to follow.
Keep in mind that all the listed items are investments more than anything as they will help you earn more money one way or another.
Domain Name (High Priority)
A domain is the name of your website and you can think of it as the base of your operations.
Just like every brick & mortar business has its own street address, the website domain will be your own address.
Domains are a very cheap investment as they only cost around $13 per year and the first year is usually even cheaper than that.
Here are some websites where you can buy domain names:
You can also use a free website for your affiliate marketing efforts but they are not as professional and don’t rank as well in the search engines compared to paid domains.
However, it’s still a nice way to get a feeling of how websites are managed without paying anything. A great option for beginners.
Hosting (High Priority)
You can think of hosting like paying rent for having an office and storage space for your business.
In the case of websites, you are paying a hosting company so you can have your website content (images, blog posts, etc.) stored in a safe place, and visitors can view that content on their web browser.
Hosting costs a little bit more than a domain name, but it’s still a very cheap investment since you can build a full-blown business with a website.
A hosting plan typically costs around $10 per month for a new site without much content and traffic.
Here are good hosting providers for new sites:
Affiliate Marketing Training (High Priority)
Now we have the website covered but it doesn’t help you much if you have no idea how to actually do affiliate marketing.
I would say proper training is even more important than just a website.
After all, you won’t get results by simply sharing your affiliate link and hoping for sales to happen.
You need to learn the art of selling with written words and other equally important concepts of affiliate marketing.
You have two options; either free or paid training.
The Internet is full of free YouTube videos and blog posts teaching you the ways of affiliate marketing but there’s always one major problem with free resources.
They always show what you can do but never how to do something in detail.
Also, free information is always scattered all over the Internet and you have to spend precious time finding small bits of information.
On top of that, you don’t have a support group so you can’t ask help if you get stuck.
Paid training has its own problems as well.
I have reviewed enough “make money online” products to know that majority of them are a huge let down with over the top price and disappointing training that gets you nowhere.
Some training courses even cost you close to $1000 and in the end, you get a couple of PDF-files telling you what affiliate marketing is and nothing else.
They rarely come with an active community, coaching, and proper step-by-step training which are essential for any new aspiring affiliate marketer.
Fortunately, I have found an amazing solution which has all these features and you can even get started for free and build your website without rush. More about that later.
Now we are getting to the part of the list that’s mostly optional and used to optimize and scale your business.
Eventually, these will come handy but you shouldn’t worry about them when you are getting started.
I’m going to list a few examples of useful tools that you could use in your affiliate marketing business.
- Keyword Research Tools – Many KW tools are free but paid products like Ahrefs can be used to research what your competition is doing.
- Premium Plugins – You can download different premium plugins for your website e.g comparison charts to increase sales.
- Premium Website Themes – Premium themes look more professional and have exclusive features.
- Image Editing Software – Photoshop is a good example of this and unique images make your website authentic.
- Task Manager Software – These are software that can be used to organize your daily workday.
- Email Autoresponder – Used to send mass emails to an email subscriber list
These were just the tip of the iceberg and only the sky’s limit how much money you can spend on different tools.
Many affiliate marketers do product reviews because they convert to sales very easily but sometimes the competition is a bit tough for specific products.
In a case like that, you can buy the actual product to get a good first-hand experience on the product and you can take authentic photos for your review.
Detailed reviews with your first-hand experience have a better chance to rank in the search engines.
The price obviously depends on the product you are reviewing.
Buying products is completely optional since you can do a very informative post even if you don’t own the product you are reviewing.
Blog posts are the food you need to feed your website regularly to keep your business running.
Learning to write the content yourself is one of the most important skills you can learn as an affiliate marketer.
Once you have learned the ropes of writing content, you can outsource this task to writing services or you can hire a writer to do the job for you.
I wouldn’t buy content as a beginner because you most likely don’t know yet what kind of content does well on your website or how to format it properly.
The price of content varies from writer to writer. They can charge you from anywhere between 10 cents to $1 per word.
Where To Get Proper Affiliate Marketing Training
Now that you know a bit about the costs of affiliate marketing, let’s get back to the training course I was talking about.
I assume you are looking to start your own affiliate marketing business since you are reading this post about the costs.
Affiliate marketing truly is a cheap business to start and you can have your own website running today — if you get started right away!
This course which I mentioned earlier is the same one where I started learning affiliate marketing over 2 years ago as a complete beginner. I highly credit it for teaching me everything I need to know about running an online business.
The course is free to join and it’s laid out in beginner-friendly step-by-step instructions including video training.
The training also provides you with a free website and hosting so you can test the affiliate marketing waters before you invest in anything.
You can read more about the course here and see what’s inside.
Hopefully, this post has answered some of your questions about costs of affiliate marketing and you now have a clear direction if you want to try this business out.
Talk to you later.