You’re probably tired of hearing about the state of the economy and how difficult it is to grow a business these days. While the world may seem to be coming to an end, there is still plenty of room for online entrepreneurs to make money and provide for their families. One of the best ways to make money online is through affiliate marketing. What is affiliate marketing? It’s when someone else sells a product or service, and you get a commission for selling that product or service. You can get paid for essentially driving traffic to a website. There’s a lot of potential to make money online with affiliate marketing. You can even do it from the comfort of your own home with the help of technology.

One of the biggest challenges for newbie affiliate marketers is getting started. You don’t have any experience so you have no idea how much to charge for clicks or how much traffic is worth any given amount. The good news is there’s a perfect helper program for newbie affiliates called Bing Ads. I’m going to walk you through the steps to get started with Bing Ads and how you can use it to make money online.

The Basics of Bing Ads

You may be wondering why you should care about Bing Ads since you’re an affiliate marketer. Well, you should care about ANY advertising program that pays you money since you can then reinvest it into more ads (and more income).

Bing Ads is a program offered by Microsoft that allows businesses to put ads on Bing, which is Microsoft’s search engine. So, if someone types in a search term or uses a keyword throughout their ad copy, that business’ ads will show up in results.

You can run ads on Bing for free. However, there are several limitations to the free plan. For one, you only get a certain number of clicks per day, per ad group. Additionally, your campaigns are heavily limited in scope and you can only track click-throughs to one domain.

If you’d like to get started with a free account, simply visit the Bing Ads website and click on the Get Started button. Then, enter your email address and create a password. You’ll then be prompted to pick a username and a password for your new account. You can always choose to keep the default username and password and simply type in your own email address to log in.

Understanding Campaign Goals and Metrics

The first step to making money with Bing Ads is having a clear idea of what you’re trying to achieve. Start by looking at your conversion rate. What is your conversion rate? It’s the number of people who performed an action (such as making a purchase or registering for an event) after seeing an ad as a percentage of the people who viewed the ad. So, if you had a 1% conversion rate, you would have 100 people who performed an action after viewing your ad as compared to the 1000 people who saw it.

To get a better idea of how effective your ads are, look at your CTR. What is your click-through rate? It’s the number of clicks on an ad as a percentage of the total number of impressions (i.e. the number of times the ad was shown). So, if you had a 0.5% click-through rate, you would have 500 clicks on an ad as compared to the 1000 impressions.

While these two numbers alone don’t tell you much, comparing them to metrics from other campaigns can give you a good idea of how successful your strategy is. Comparing your conversion rate and your CTR from previous campaigns can help you identify trends and determine which campaigns are performing the best. For example, if your conversion rate has always been low but your CTR has increased over the years, you may want to examine why to find the best strategy for boosting your income.

Setting Up Your Campaign

Once you have a good idea of what you’re trying to achieve with your ad campaign, you can start setting up the campaign. First, choose the type of campaign you’d like to run (i.e. SEO, PPC, or Display), and then set the budget for the campaign. Next, pick the niche and the keywords you’ll use to target potential customers. You can also choose to set up several campaigns and switch between them depending on what works best for different products or services. 

After you’ve set up the campaign, you can add ad groups to it. An ad group is a group of ads that will be shown together.

To add an ad group to your campaign, simply click on the + icon at the top of the left-hand menu and select Ad Groups from the drop-down menu. Then, in the blank box that appears, enter the name of the group and select the ads you’d like to add to it. Once you’ve entered a name for the group, you can click on the Create button to add the ads.

You can always go back and rename or delete an ad group at any time by clicking on the name of the group in the drop-down menu at the top of the left-hand nav and selecting Edit from the drop-down menu. You can also change the ads within an ad group by selecting an ad and then clicking on the Edit button.

Understanding Pay-Per-Click Campaigns

Another way to make money online is through pay-per-click (PPC) advertising. Instead of paying you every time someone clicks your ad, as in the case of Bing Ads, you’re paid only when someone clicks a certain keyword or phrase in your ad. For example, if you own a gym and you have an ad that says, “Come to the XYZ Gym for a free weight loss kit!” Then, whenever someone in the area searches for “gym” or “weight loss kit,” your ad will show up. You’ll then have the opportunity to purchase that person’s email address or mobile number and send them a text message with a link to your website.

PPC advertising is commonly used for sports betting, where the advertiser will pay you if a person clicks on a particular betting line in their ad. So, if you see someone write “Sportsbook pays”, you can bet that they are referring to a specific PPC campaign where they get paid if someone clicks on the word “Sportsbook” in their ad.

Making Money via Affiliate Marketing

One of the best ways to make money online is through affiliate marketing. You’ll need to make sure you’re signed up with a reputable affiliate network, and then you can begin implementing your strategy. To sign up with a network, simply visit the website and click on the Get Started button. Then, enter your email address and create a password. You’ll then be directed to the Amazon Affiliate Network homepage where you can see a selection of affiliate marketing networks. Choose the one that best suits your needs and enter your affiliate ID and click on the Register button.

The next step is to determine how much you should charge for each click. You’ll notice that the amount you get paid per click depends on many factors, such as the size of the company that owns the site where the ad appears, how competitive the market is for the product or service you’re promoting, and whether or not the site is relevant to your niche. There are basically three strategies to making money with affiliate marketing:

Cost-Per-Click (CPC)

In the case of CPC, you’ll get paid per click regardless of whether or not the person who clicks on your ad actually makes a purchase. With CPC, the amount you get paid per click depends on how competitive the market is for the product or service you’re promoting and how relevant your niche is to the product or service. If the product or service is very relevant to your niche, you can expect to earn around $5 per click.

Cost-Per-Action (CPA)

Also known as revenue-per-action (RPA), cost-per-action (CPA) is similar to CPC in that you’ll get paid per action regardless of whether or not the person who takes the action (i.e. the click) results in a purchase. With CPA, the amount you get paid per action depends on how competitive the market is for the product or service you’re promoting and how relevant your niche is to the product or service. If the product or service is very relevant to your niche, you can expect to earn around $25 per action.