The forex market is an ever growing industry with a lot to offer. Have you been sifting through ideas trying to find a viable way to make some passive income? Have you considered becoming a forex affiliate? For many, becoming a forex affiliate starts only as a side hustle but after a few months of progress, you find yourself focusing more on it than your main job. Ultimately, becoming a forex affiliate can well become your main source of income if it is done right. Want to know how you can make money as a forex affiliate? Read on to find out.
1. Through social networking
Are you good with people? If you are one of those people who can spark interesting conversations with people, then you should consider using social networking as your tool of choice to attract clients. Networking can be done face to face or on various online platforms.
How it works
Set aside two to three hours every day. During this time, chat with people on various forums where the majority would be interested in purchasing the products you are offering. Encourage people to follow your links in order to open an account with the best forex company you are marketing for. For each user that successfully opens an account, you get some commission.
This method is suitable for that affiliate who is looking to incur minimal costs and yet generate a good amount of money in paid commissions. For instance, you spend nothing to join and chat with people on all your forums. One forum attracts two people per month while a different forum attracts 5 people in the same month. You focus more time on that forum that attracts more people to open an account and now you can expect at least 10 people to follow your link and open an account with your firm. You end up making $100×10=$1000 Cost per Acquisition-CPA and $40×10=$400 commission giving you a total income of $1400 in a month.
2. Advertising on social media
If during your free time or your normal job you spend a lot of time scrolling through social media, how about making social media work for you. There are millions upon millions of possible clients who are logged on to their social media accounts at any one time. If you are able to reach out to them and get them to subscribe to the services and products of the forex company you are marketing for then you can make some good money in no time.
How it works
Join all types of social media platforms and establish your presence. Examples of such platforms include Facebook, Reddit, Twitter, YouTube, WordPress, linked in and so on. Take Facebook for instance. Here you set different criterion as to the kind of client you are looking for. This includes age limits, origin, gender, country and so on. Your Facebook advert is displayed on the timelines of people who match your criteria. If they are interested in what you’re offering they click on your advert which directs them to the official forex website.
Setting up a Facebook ad takes anywhere from 10 to 30 minutes. Say you invest $10 a day on the advert. After scanning your requirements, you are guaranteed that 3000 people on Facebook can see your advert and an additional 5000 people on Instagram (assuming you’ve linked your Facebook account to your Instagram account). This means a total of 8000 people will get to see your advert. If you run the advert for 5 days, and you get 10 people to sign up to your service, you get $100×10=$1000 CPA plus commission. Within five days to a week.
3. Own blogs or websites
This option is favorable for those forex affiliates who already have a blog or website that has already garnered significant following. If you haven’t yet set up one, don’t worry, it is a very easy process to set up a free blog for starters, attract traffic and then make advancements later to a better-themed premium blog.
How it works
Say your blog is focused on money issues and you have a following of around 2,500 people. At strategic points of your content, you can add links or banners which when clicked will direct the person to the official forex site. If 3 people click on the links per week, you make $100×3=$300 CPA plus commission per week.
Note however that this option can take much longer compared to other methods especially in the beginning. But after establishing yourself and growing your traffic, it can work better than all other methods combined. Here, patience is key.
As a forex affiliate, the right timing is everything. Knowing when to reach out to your prospective clients at the time when they are available is going to determine how successful you are as an affiliate. The good thing about being a forex affiliate is that you do not have time limits as can be seen in normal 9 to 5-hour jobs. You can wake up in the middle of the night and make positive use of your time awake working. With the above pointers, you have various options you can try. Focus on the option that seems familiar and more practical for you and you’ll be smiling all the way to the bank in no time.