Bloggers aim to establish a growth mechanism only when they become famous enough to be followed by a large number of people. It is therefore important to ensure that your blog is popular enough before expecting it to become an earning avenue for you. Although if you believe that you are blogger with the required level of following then you can make some money using a variety of techniques.
One of these techniques is the use of affiliate marketing. Here, we will discuss the concept of affiliate income and how bloggers can create an effective stream of money using this method. We start by discussing the concept of affiliate marketing.
What is Affiliate Marketing?
Affiliate marketing refers to the promotion of the products and services of another company by clients and customers. Bloggers can often become an effective affiliate marketer because they already have a powerful tool in the form of their blog to advertise the services of another company.
A blogger can use affiliate marketing along with other techniques to earn a steady income from his blogging activities. The primary earning mode should be from advertisements, but they can be backed by a consistent stream of income set up from affiliate marketing.
Getting Paid with Affiliate Income
Affiliate marketers are paid when someone purchases the advertised products or services. A blogger can also get paid in the similar fashion if a visitor buys a product from the links shared on the blog. A commission is earned with each purchase and therefore payment is only made when a sales lead matures.
Good bloggers though can persuade people effectively. They can address problems in their blogs and present products and services as their solutions to entice visitors into resolving their issues by buying the advertised products.
Benefitting the Blogger
There are other benefits to the blogger as well apart from the income earned from affiliate marketing. The practice of affiliate marketing can increase the exposure of a blogger in turn. A blogger who markets a product which has a good reputation among the general audience on the internet will surely increase in stature. However, bloggers should refrain from marketing a product from a dodgy manufacturer as it may damage their reputation as well and destroy their blog.
Good bloggers ensure that they enjoy the benefits of growing an affiliate income without suffering from the effects of being termed as a marketer. Once they identify the balance between direct advertisement and affiliate marketing, they are able to quickly use both of them to earn money online. It also ensures that their blogs become more successful than ever; because they now also receive traffic from the loyal customers of a particular seller as well as their own blog followers.
Precautions for Affiliates
There are some precautions that affiliate marketers need to be aware of. You need to select a reputed company and also ensure that they create a particular id and a link for you. Many companies offer a referral program which allows you to become an affiliate with them. You have to make yourself knowledgeable about the products and services and possible use them before attempting to present them to your blog audience for the maximum effect.
Professional athletes such as basketball players, football players, and American football players earn quite a lot of money. With the money they earn, they can go on vacation more than two times each money, stay in the most expensive hotels, and basically, travel like royal.
Unfortunately, some of these athletes actually took travelling like a royal a little too literally, leaving them broke. Those unfortunate, once rich professional athletes are:
1. Vince Young
The American football star signed a £38 million pound contract with the Tennessee Titans. He played for three different teams during his six-year long career. He went on to establish the Vince Young Steakhouse, a restaurant in Texas.
Even though his restaurant still exists today, he made some not so financially smart moves with his money. His list of bad money moves include drinking £460 pound worth of shots after each game and spending £3,800 at the Cheesecake Factory each week. In addition to this, he bought 120 seats on a commercial plane in 2007. This has caused him to lose money, especially after his former team let him go.
2. Dennis Rodman
Dennis Rodman, a basketball player, made a name for himself on the court. His colourful tattoos and hair made him stick out from the rest of his teammates. He rose to popularity with his impressive rebounding and defence technique. His career highlights include playing against Scottie Pippen and Michael Jordan and winning the rebounding champions seven times.
His net worth at that time stood at £20 million, but he blew a good majority of it on lavish cars such as Porsche, Lamborghini, and Hummer. He also spent millions on building up his metal record compilation, which took two-thirds of his expansive mansion.
All of this thoughtless spending made him fall behind in child support payments. At one point, a rumour about him selling one of his kidneys for money began circulating on the internet. This led him to file for bankruptcy.
3. John Daly
John Daly, a professional golfer, came into the spotlight in 1987. He took home two major championships and accumulated a net work of more than £7 million. The pro golfer had the ill habit of blowing off his money on gambling. He lost £46 million. His inability to save money also stemmed from his alcohol problem and in 2008, he made a commitment to turn his life around. However, by that time, he did not have a lot of money left in his bank account.
4. Lenny Dykstra
Lenny Dykstra is a former baseball player who went from being rich to being broke. The baseball player owed £30 million to his creditors. Even though he tried to invest in several different ventures such as car wash, stock trading, and real estate, none of those investments turned profitable. His trouble with money has landed him into jail. He was arrested for auto theft as well as for indecent exposure.
Sometimes, it takes looking at other people’s mistakes to learn a lesson.
Packaged bank accounts or a current account provides people with an extensive list of benefits. A packaged bank account usually consists of the following benefits and services:
- Extended warranty
- Travel insurance
- Loyalty rewards
- Mobile phone insurance
- Overdraft with low rates
- Breakdown cover
- Gadget insurance
- Fraud protection
How Packaged Bank Accounts (PBAs) Work
Banks charge account holders a monthly fee ranging from £8 to £25 and even though it does not sound that bad, in reality, packaged bank accounts are useless. Account holders uncover this fact once the bank sells them the benefits of PBAs.
Later, banks tell them they are ineligible to obtain the benefits mentioned under PBAs or the account holders discover that they do not really need or want those benefits. Still, people find themselves signing up for PBAs, only to regret their decision later on.
Did you know over 10 million residents in the United Kingdom hold a packaged bank account?
People are taking their claims of miss-selling up with the Financial Ombudsman. They have discovered fault with 70% of those accounts.
How Banks Force PBA Down People’s Throats
When customers visited the bank, asking for a loan, mortgage, or credit card, the employees told them that in order to receive a loan; they would need to obtain a packaged bank account. Otherwise, they would not be qualified for a loan. Others were told they could not obtain an overdraft if they do not sign up for a packaged bank account.
What Banks Do Not Tell You
Banks needs to disclose all the details of the PBA and you need to ask them questions pertaining to it. They will tell you about the benefits regardless if you are eligible for them or not, as their task is to sell you the package to you to meet their sales target. This resulted in some salesperson not telling the customer about the monthly fee they will have to pay to obtain the benefits they are telling them about.
Another example of banks sold the PBA was telling the customers about the benefits of having phone insurance, but leaving out the details on how the insurance is not applicable to iPhone users. Some have even gone to tell the customer on how a PBA improves their credit rating, but that is false information.
Has This Happened with You?
If a bank told you that there was no other way for you to obtain the finances you seek unless you open a PBA, they miss-sold you the package. Banks cannot compel people to take out a packaged bank account and they cannot refuse to give you financial support based on your refusal to obtain one.
What Should You Do?
You can make a miss-sold packaged bank account claim against your bank. If your claim proves successful, your bank will downgrade your account back to a basic account. You will not have to pay a monthly fee anymore and will lose all the benefits. However, if you are using the benefits, reconsider making a claim.