From the course: 32 Ways to Make Extra Money
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Diamonds in the rough
- In the model of affiliate marketing, you earn commissions by referring customers to merchants. Now, not all affiliate programs and merchants are created equal. Some pay very low commissions, which of course means you'd have to refer a lot of people in order to make real money. What might be something that offers a high commission and is a renewing market? Meaning that there are always people looking for it. One example, the one we'll look at in this story, is diamonds, especially diamonds for engagement rings. The percentage of commission in affiliate programs run by jewelers is typically low, around 3 to 5%. But because diamonds are so expensive, it can still be lucrative. By comparison, Amazon.com's commission rates vary, but are typically also less than 10%. To take a mental number, would you rather earn 5% commission on an Amazon book purchase or on a diamond? So, here's our example. Tony Florida stumbled upon…
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