If you’ve ever came across Tim Ferris’s iconic book on how to just work four hours per week, you’ve probably dreamed of sipping a Mojito on a beach while your money worked for you in the background. One of the main ideas he constantly talks about is the concept of passive income.
After all, having an income chart like this is the main goal of many online entrepreneurs:
For many entrepreneurs looking to build an online business or marketers looking to monetize their web traffic, affiliate marketing is often how they got started with generating income.
Affiliate marketing is one of the world’s most popular methods of generating passive income online, and it continues to grow. In fact, affiliate marketing spend is reported to increase to $8.2 billion by 2022 — up from $5.4 billion in 2017.
If you’re looking for a complete guide to affiliate marketing, read more to find out how you can promote products as an affiliate to create an additional source of income.
What is affiliate marketing?