FX Buffs: Here's How You Start Your Own Business in 2021 & Achieve Financial Freedom
If you're an FX enthusiast like us, you might have heard people say that trading the forex market is the key to obtaining financial freedom.
And it sure can be, provided it's done correctly.
But the real first-class ticket to financial emancipation, particularly in this COVID-stricken economy, is in something far less volatile, far more stable, and yes, maybe even considerably more lucrative: affiliate marketing.
In this article, we will be going over:
- What affiliate marketing is
- Who you need to be to take advantage of it
- How it can catapult you towards financial freedom
- What you need to get yourself started
What is Affiliate Marketing?
Got a finance-related site with a bunch of daily users who value your insights?
Or perhaps, you're an influencer in the FX field with a modest number of followers who trust your opinion.
No matter the size or nature of your online platform, there are tons of companies out there just waiting to promote their product to your audience - And that's basically what it means to be an affiliate.
As defined by Investopedia, affiliate marketing is an advertising model in which a business will compensate third-party publishers for traffic or leads brought to the company's products or services.
The referrals are tracked via unique affiliate links, and the commissions paid by these advertisers are what keeps you, the affiliate, incentivized to run their ads.
What Do You Need to Qualify as an Affiliate?
Well, to put it simply, you need an audience of some sort.
Preferably, one that engages with your platform and values your brand, opinions, and content.
As we mentioned, you can be anyone from an influencer or blogger to a technical analyst or broker review site; the important thing is - you have to be somebody with some sort of authority in the field.
So if that's you - congratulations! You should definitely read on.
But if that's not you just yet - don't be discouraged.
Affiliate marketing can still be your calling, it's just going to take a little bit more work on your end until you can build your platform to a monetizable standard.
Why Becoming an Affiliate is Your Key to Financial Freedom in 2021
Affiliate marketing isn't always easy, but it sure pays handsomely. Particularly in the FX field.
In our highly-competitive industry, advertisers are usually FX brokers who are more than willing to pay top dollar to outdo their rivals.
And the payout programs certainly reflect that reality.
Brokers measure success via money deposited or trading volume achieved, which drastically opens up the earning potential per referral for you, the publisher or affiliate.
Several payment structures (or affiliate programs) exist within our niche, including:
- CPA (Cost Per Action). This allows you to earn money per a certain 'action' carried out by a lead. This could be anything from opening an account to actually depositing money, depending on the agreement you have with the advertiser. Brokers tend to be happy to dish out on this, and affiliate payouts can be upward of $100 CPA.
- CPL (Cost Per Lead). This payout program essentially pays you for the contact details of a user. That means you make money when a user 'signs up' with the broker, without necessarily committing to an account. Because of the lack of commitment, CPL payouts tend to be much lower than CPA.
- Rebates. This is the most lucrative program as it will pay you a commission based on the trading volume of each conversion. So, every time someone from your end trades with the broker, you get a cut. This type of agreement creates a long-term revenue stream or passive income. It tends to be more consistent and rewarding, particularly when dealing with professional traders who trade high volumes.
So, as you can see, the opportunities are plentiful and always profitable.
Especially when you consider the nature of the FX industry and its sheer resilience in the face of economic uncertainty.
2020 has shown us that despite near-apocalyptic global conditions, forex, stock, and crypto traders will continue to trade and the markets will never stop.
So, in 2021, in a very much still pandemic-ravaged economy, why not capitalize on the consistent trading activity, monetize your users and pave your way to financial freedom?
How to Start Making Money
To become a successful affiliate marketer, you have to work with the right advertiser.
Running a profitable affiliate program involves many crucial aspects, including:
- Shared values between advertiser and affiliate
- Shared interests of the audiences of each party
- Similar (high) standard of products/services/content offered by each party
- Similar expectations and shared desire to grow
And since there are hundreds of brokers to sift through and endless variables to tackle, your first step should be to join an affiliate network that will do the research for you and match you up with the perfect broker.
Synergy is essential, so be careful. Be sure to join an affiliate network with a reputation for brokering long-term partnerships with well-respected advertisers. Not one that promises you the world but is known for being in it for a quick buck.
In fact, we would advise you to spend a considerable amount of time choosing your affiliate networks wisely.
Joining a network with an established vetting process, dedicated affiliate managers, and high-tech data analysis software, like ROI-Collective, would be the wisest business decision you could make for your yearly income in 2021.
So, budding affiliate marketers, do not hesitate to contact us!
Our experts will hold your hand throughout the entire process of setting up your own affiliate business and get you well on your way to earning high payouts from reputable brokers.
Financial freedom is just a consultation away!
Want to find out more? Get in touch with us now!