In these tough economic times, many of us are looking for ways to supplement our income in order to make a more comfortable living. The internet is the digital marketplace and much of the world cashes-in on the enormity of the digital marketplace. We have two great suggestions to further pad your pocketbook: supplement your income with affiliate marketing and/or reselling a service.
Affiliate marketing is nothing new. It’s been around for a while, but is still a great way to make money online. For those new to affiliate marketing, it is essentially marketing someone else’s product/service (like the TXT180 affiliate program) and being rewarded for referring customers to that company offering the product/service. The product/service is generally promoted through websites with banner ads or affiliate links that track potential customers to see if they sign up or buy. Once a referral has taken place and a customer successfully purchases the product/service, a commission is awarded to the referring affiliate. It is usually a percentage based commission based on the total cost of the product or service.
Affiliate marketing isn’t as simple as just adding banners to a website you own. As anyone with a website knows, you have to get noticed in order to have visitors to your site. Appropriate SEO tactics must be deployed in order to get decent search engine ranking. The higher you rank the more visitors you’ll have and more customers clicking your links and signing up, which increases your commission and overall revenue.
There are other methods of affiliate marketing other than websites, albeit websites are a common way of doing it. For a break down of affiliate marketing practices, download our affiliate marketing guide.
Reselling can supplement your income, or completely replace your income, depending on what you are reselling to the public. Reselling allows a company to market and sell a service or product for another company. While this appears to be the same as being an affiliate marketer, they are not the same but closely related. TXT180 offers an SMS reseller white label program that allows a business to sell the text marketing service as if it was their own service. This “white label” branding helps a business’s clients see the business as the application provider of the text messaging service.
As a reseller, businesses can offer a product or service as part of an existing list of services they offer, or strictly sell that product or service. Because of the nature of reselling, businesses who do it are usually in a position of providing customer support and management of their customers accounts. This is one of the biggest differences between affiliate marketing and reselling. An affiliate will simply refer customers; resellers care for and manage their clients as their own. How much time and effort you want to put into it will help you determine whether to supplement your income with affiliate marketing or reselling.
Which is Best?
Answering the question: Which is the best way to supplement MY income? Well, that depends on you. Do you already have sites that are high in search engine rankings? Go for affiliate marketing. Looking to start a business with relatively low overhead? Start out as a reseller of a product or service. Either method will help you supplement your income to make a more comfortable living. One last bit of advice, don’t expect either of these methods to be an “easy” way of making money online. Both affiliate marketing and reselling require work, and a good amount of it. The saying “you get what you put into it” applies directly to these forms of making money. If you put in the time and the effort you will more than likely reap the results of that effort.