How to get Rich Quick- Pyramid Scheme or Affiliate Marketing?
Imagine the paradisiacal feeling of waking up in a mansion close to the Caribbean beach, with several options to choose from as breakfast served to you whilst still on the bed. You get up to open the window to get a beautiful morning ocean view from the Mansion paint house; you can smell the beautiful scent of the calm fresh water and your desire to enjoy the cool feeling of a swim in the oceans on your skin intensifies.
Everyone yearns to live such a successful life free from stress and worries. Unfortunately, enjoying the labour of their hard work is a fantasy that many people can never experience.
Only the rich can experience this luxury; no wonder so many labour their whole lives trying to make wealth in order to get rich. They work so many shifts and deny their bodies rest and sleep, toggle different freelance jobs; others work fulltime in a 9 to 5 job.
In this scoop, we consider two of the most common ways to get rich. Which would you choose- a get rich quick scheme or would you rather become an affiliate marketer?
This article discusses the pros and cons of the two options and will guide you on making the best choice.
Avoid Get Rich Quick Schemes
Get rich quick schemes are rapidly gaining prominence globally. High yielding investment programs, ponzi schemes and pyramid schemes are the most common forms of it, opted by many people due to the high yield and returns as their investors profess.
What are the dangers and concerns of these schemes? This article has been prepared to guide you and protect you from being victimized. It discusses the pit falls and an alternative to get rich slowly.
Pyramid Scheme- What is it all about?
A pyramid scheme usually starts with a single business transaction between two people. An offer is then made for a person B to make more money by selling the product he/she bought. A commission from the percentage of revenue income is given to person B. This forms a pyramid with different levels of revenue income signed.
Pitfalls of the Pyramid Scheme
Ponder over these two questions!
How much will you need to invest to make enough money?
How much support will be given to you to aid in selling the product?
The truth is the Pyramid schemes are misleading and a fraudulent way to help you get rich. Think about this- In a Pyramid- How many people can stay atop a pyramid? Yes! Just one person right? You are just a pawn designed to make money for the one on top of the pyramid and that’s the business owner himself.
Another pitfall to consider is the fact that most times you are asked to sell an unknown product to family and acquaintances first.
Painfully also, it is sometimes a scam, because there is no product sold in exchange for cash payments, rather they promise of a reward at an open event to draw others”.
Ponzi Schemes- What is it all about?
A Ponzi scheme is structured just like a pyramid scheme. This scheme adopts the name of Charles Ponzi- the man who started it first. It is an investment program that people’s money are collected and invested into something, but the high interests are shared amongst early investors.
Pitfalls of the Ponzi Scheme
It works on the popular principle of ‘rob Peter to pay Paul system’. It is Illegal, and though it can survive for a while, it is bound to crash because of Greed on the owner’s part. The new investor’s money is evidently used to pay profits to the existing investors. Unlike the Pyramid scheme which affords each investor to enjoy the profit from direct recruits, in the Ponzi scheme only the person on top profits.
Why Avoid It?
“Get-rich-quick schemes are for the lazy”. Wealth from get-rich-quick schemes quickly disappears; wealth from hard work grows over time. [Proverbs 13:11 NLT]. Investing wisely is the best way to make profit. While the wealth gotten from get rich quick schemes will quickly disappear, the wealth gotten from get-rich-slowly investments such as Affiliating Marketing will remain for a very long time.
In this age and era of technological development, one can only continue to appreciate, benefit and fully maximize the importance of online marketing platforms such as affiliate marketing.
The introduction of the Internet and its supporting resources has made online businesses very effective and profitable. For example, Affiliating Marketing is the simplest method to get rich slowly online. It can yield very huge and consistent returns if practiced the right way.
Learn Affiliate Marketing
Affiliating Marketing is the simplest and currently the most trusted method to get rich slowly by earning money online. If done the right way, it will yield will be huge and consistent.
What Is Affiliate Marketing?
Affiliate marketing is the process in which a product user refers a product to another Internet user(s) and gets paid a certain amount as commission for each sale made. The beauty of this online business is that you get paid a percentage or a portion of the sales generated when anyone endorses a product you pasted the referral link.
The process is very easy and there are online resources to guide you on how to paste, where to paste and when to paste referral links. The company you want to refer someone to, gives you a referral link, or some sort of unique identifier in order to keep track of how many sales were generated from the referral links you posted online for their product.
Advantage of Affiliating Marketing over Get Rich Quick Schemes
Unlike the get rich quick schemes, where there are no products sold, affiliate Marketing is a very legal means of making money because there is a product being sold. Affiliating marketers serve as marketers for the company and goods are sold from the referrals.
Also too, you make your money by yourself and for yourself, not for someone on a pyramid that is always eager and hungry for more money from new investors.
There is no interest sharing levels that is evident in the get rich quick schemes. In Affiliate marketing, everyone is paid the same for any referrals made by each person. No multi-level marketing and no pyramid-like activities.
Why is it Legal?
• People don’t just click your referral for you to get paid; you are marketing a legitimate product.
• You are using your experience to create referral links.
• Your aim is to advertise the product to others; get paid as an incentive for do more.
• You serve as an advertising marketer for the company.
How to learn Affiliating Marketing?
The skills and techniques to become an affiliate are found online. Google search engine contains links where resources can be downloaded online. The skills are quite easy to learn and within a week tops you should be able to startup and get rich slowly but wisely.
Benefits of Affiliating Marketing
The benefits of Affiliate Marketing are quite numerous. They are listed below;
• Easy tracking
Programs tracking compile statistics from affiliate sites provide accurate and current client behavior on trends at no extra cost.
Merchants will gain a wider market to sell goods and services, resulting in more customers and more sales.
• Cost-effective Customer Acquisition
The affiliate does not worry about customer support, book keeping, and e-commerce. Any affiliate marketer can still work on his daily job and still work as an affiliate earning extra cash.
Organizations who recruit affiliate marketers get more customers without wasting valuable time in searching for them.
An affiliate can enjoy the luxury of working with his scheduled time. He can work only for an hour or more and can generate income anytime and anywhere in the world.
• Client Satisfaction
Clients do not have to drive all the way to the merchant’s store or retailer.
It is an easy way to create additional sources of income for web publishers and owners. Marketing banners of company products generate instant sales wherein they get a commission.
How much can an Affiliate Marketer earn?
The simple answer is that. As an affiliate marketer, there is no limit to how much you can earn. Statistics show that depending on your niche, your strategy and the amount of work you put in, you can earn more than $10,000 in a month.
Some of the most successful affiliate marketers make six or seven figures a month. Ryan Robinson, an affiliate marketer, made over $19,000 in affiliate revenue in October 2019. Pat Flynn from Smart Passive Income made over $100,000 in affiliate commissions in December 2017. More statistical data shows that an affiliate website — The Wirecutter — made an estimated $10 million in revenue, and was eventually sold to the New York Times for $30 million.
Quick Tips to help you start your journey as an Affiliate Marketer
- Select an affiliate marketing recruitment platform
You need to choose an organization to affiliate or market for. Most people select an affiliate platform that require lower volume of work with higher pay while other prefer a higher volume of work with little pay and leverage on making more from increased activities.
- Choose your preferred niche
To help you start off, you need to select your niche that best suit your interests and passion as this will increase your productivity and professionalism
- Create an affiliate platform or join platform that allow affiliate works.
You need to create a website, blog page or join social media groups that afford you opportunity to interact and meet many people daily to help you market the product(s) or service(s) you are affiliate for.
Most people use YouTube videos and free blog posts to reach their target audience.
- Join more affiliate programs
To be successful, do note that just affiliating for one brand may not make you become rich, it is important that you look for more brand and portfolio to affiliate to earn more income. It is usually very easy to affiliate for more than one brand as you have more experience to work smart.
- Be sure to Create great and distinct content
Make sure you create original and unique contents that clearly differentiate you and your brand from others and be sure to be persuasive. Remember to input your referral links and call to action section. You may need to engage in serious and in-depth research of topics and brand acceptability.
Doing all this will help to drive traffic to your affiliate site and make you more earnings.
- Learn and Implement SEO expertise
If no one is seeing all your amazing great contents, no one will be clicking; and if no one is clicking, your work is a waste of time. Learn the art of using search engine optimized keywords in your created contents, so that when people search on search engines, your great content will pop up and introduce itself to your target audience and then you can be sure your effort and time is not wasted.
- Conduct Analytical Research
Continually Give yourself target, analyze and track your work. What cannot be measured cannot be graded or rated positive or negative. Hence the need to create daily, weekly, monthly, quarterly and yearly targets, that will be reviewed to check for improvement and setbacks. This will guide you to do track the progress of work done, the need for more work, the number of clicks and income accrued.
How much money you make as an affiliate marketer? The answer lies in your hard work, commitment and expertise overtime.
There’s only 1 way to get rich quick and it is not through a get rich quick scheme.
The famous quote of Jordan Belfort is “There’s a difference”……….
Affiliating Marketing is the difference. Opt for it now! Don’t fall for get rich quick schemes!
Always remember, it takes time and effort to build wealth properly.