If you want to make money from a side hustle but you don’t have a product to sell then fear not. We have you covered, it’s easier than you think! Read to the end of this article How to Make Money Online Without Owning a Single Product and we have a free webinar you can attend.
Our blog articles do contain affiliate links. If you decide to buy anything we earn a small commission. We only promote items we believe and trust. You will help us fund our coffee habit at no cost to you so it’s a win-win really.
There are two ways you can make money online without owning a single product.
Method 1 – Dropshipping
So exactly is dropshipping? Simply put it’s selling a product from your vendor to your client and then your vendor ships the product directly to your client. The benefit of doing this is that you don’t have to buy and keep any stock. You only buy stock your client already bought from you. Of course, this method of selling online comes with its challenges. You have to deal with returns, complaints, non-delivery and other issues. We have an online store and so we are talking from experience. That being said an online drop shipping store can be very lucrative if you know what you are doing. Of course, many people start without knowing a thing and it’s really up to you what you make of it.
Method 2 – Affiliate Marketing
What is affiliate marketing? This is when you sell someone else product and earn a commission. Iof you have a blog and want to monetize it by promoting products you can easily sign up with Shareasale to get access to hundreds of affiliate programs. Signing up with Shareasale is free. Once accepted you will have to apply for different affiliate programs separately.
Benefits of Affiliate Marketing
- You don’t have to deal with customer care situations. When your reader decides to purchase the item then they become the Merchants client and the Merchant has to deal with the customer. If the sale is successful you simply collect your commission.
- You don’t own any stock. By simply referring your reader to a product you could earn comission if they purchase it. You don’t have to worry about shipping, cost of item or availability. In my opinion, it’s a win-win situation. The Merchant is getting someone to market their product while you can claim commission. The Merchant takes all the risk.
- You can earn extra money at a very low cost to you. If you leverage your blog and social media accounts you don’t have to spend money on boosting your articles promoting your affiliate product.
- You have flexibility! You are not stuck with one product. Being an affiliate marketer with a blog means that you can promote a number of products from a number of Merchants. You have a lot of freedom to pick winning products to promote and it won’t cost you anything to join new affiliate programs.
- You don’t need experience since you are basically learning on the job. If an article is not converting you go back to the drawing board and try again. Just a side note, Super affiliates are using paid advertising like facebook adverts to promote their affiliate links. This is the way to go if you want faster results and want to make some serious money online.
- Unlike owning a Shopify store you are given promotional material by your Merchant to sell their product. With Shopify, you have to come up with a winning product and come up with inventive ways to sell it.
Top Tips on Affiliate Marketing
- Before signing up and promoting your affiliate merchant check them out first. Look at their website, what do you see? Do you like the feel of their brand? Google outside reviews on them. If they have a lot of negative reviews then rather give them a skip. Your name is also involved. You don’t want to promote bad products to your loyal readers. Remember, your credibility is involved here.
- Look at the commission structure. Always pick a product that has a high commission. For you to properly promote a Merchants product is going to cost your valuable time. No one can give you your time back, so use it to do something where you will be rewarded in cash. Remember that writing an article for a low commission product or writing an article for a high commission product is going to take you the same amount of time. Be smart when picking affiliate products.
- Look for Merchants that give you great marketing content. Why should you take your time and look for marketing material? You want great visual content like banners etc.
I’m Just Starting Out, I Don’t Even Have a Blog
Everyone has to start somewhere! The way people are shopping online is shifting. They love to see how people are using products they are planning to buy. They really don’t want to be sold but rather want to convince by a nice story that you are going to tell them. If you are not tech savvy or don’t know where to begin then follow our 3-part series How to Start a Blog and Make Money doing it. This simple guide with help you start and publish your very first blog for free. Give it a try.
Live the Life You Want
We wanted to free ourselves from a 9-5 commute existence and live a life we wanted to live. You can only really make this possible if can earn money online. The bad news is that it’s going to take hard work but the good news is that anyone can do it. We are currently living in Phuket and we earn all our income online. Don’t think that it’s not possible, it is.
We have partnered up with John Crestani where he gives you a free training webinar on Affiliate Marketing. It’s absolutely free to sign up for the webinar. Something I found very useful is the top mistakes affiliate marketers are making today.