Online business became a massive source of income in recent times. One of the most popular ways to earn money online is affiliate marketing. But what affiliate marketing actually is? Is affiliate marketing worth it? From where you should get started to be successful?
In most basic words, yes, affiliate marketing will be worth if you plan your work method strategically which involves many factors like, website, niche, product, audience, etc. which we will talk about later in this article.
If you can manage to do these things right you can be successful in the affiliate industry gradually.
What is Affiliate Marketing?
Affiliate marketing is a strategy of marketing other’s products, generating sales, and earning commission from that sale.
Affiliate marketers promote products according to their niche and what they enjoy. There are generally four factors regarding affiliate marketing, the affiliate network, the affiliate website, the advertiser, and the buyer.
Does It Work In 2021?
Yes, it does. Affiliate marketing is not dead, it is alive and the index is upward.
Because more and more businesses are now willing to use affiliate marketers to promote their business. The affiliate industry is growing day by day and the growth is 10% each year.
It is assumed that by the end of 2022 it will be a 12 billion dollar industry. It is more than tripled the amount in the US than ten years ago.
Statistics have shown that 94% of the publisher and 80% of brands are using affiliate programs in 2021. So, if you are afraid about the future of affiliate marketing you can keep the fear aside for now and get back to work.
Is Affiliate Marketing Worth It? (The Truth behind Affiliate Marketing)
Typically affiliate marketing is referred to as a low-effort side hustle you can do to make some passive income. Newcomers believe that and when they come into the field there is a whole different story in front of them. Here are some of the misconceptions you need to know before starting affiliate marketing.
Quick and Easy Money
This is the most common misunderstanding about this ground. Because of this people get disappointed in a very short time and think it’s a total waste of their time.
Make a clear vision that, affiliate marketing is a lot of work, it will take your time and it also has a lot of competition, especially in 2021.
You Have to Self-Test Everything You Promote
In the first instance, many people think they have to try and test everything they promote beforehand. Well, that would be wonderful if someone can do it but this is an unrealistic idea as well as not possible for most people.
As you are not using it before promoting you have to gather a deep knowledge about every single product you promote.
Popular Niche Will Work Better
To some extent, it is true that popular niches work better in affiliate marketing but that does not mean that smaller one does not need or work. In fact, the more popular the niches are the more competitive you will get.
Quantity will Bring Success
This is another misconception roaming around in most of our heads. We think that it is a success when more and more websites will promote our product. But the truth is as always, quality over quantity.
Rather than getting promotions from so many small and low-quality websites, only a few high-quality ones will bring you more sales.
Plenty of Money
It is often assumed that you can make a lot of money with affiliate marketing without much effort. But, to be honest it is completely the opposite. The money you are going to earn depends on how much effort you are going to put into it and importantly, how long.
Things to Know If you want to Start Affiliate Marketing
There are some things you better know earlier than after you have started affiliate marketing to avoid common inconveniences.
First thing first, you have to learn as much as you can about the affiliate industry, marketing, and how it works. Luckily you can find many resources and communities online to learn from.
There are different tools and strategies and it’s changing constantly, so you have to be updated all the time.
Be Careful about the Niche
People make many mistakes here. You do not have to pick a popular or well-known niche to be successful. Choose a niche that you know and are passionate about.
There are several skill sets you need to learn to grow as an affiliate marketer. But the one that will help you the most is writing skills. It generates good sales when you put affiliate links in the relevant article.
Creating good content which engages the targeted audience can help you to leap further in this game.
By creating quality content regularly, you will make an audience base who are willing to listen to you. But you have to be very specific about your targeted audience of specific interest and write content only for them to grow as an influencer.
Use Multiple Source
Do not rely on a blog post only, reach out to as many sources as you can. Go for an email campaign and social media, and you can apply for cross-channel promotion. Constantly check out for recent trends and change your strategies as needed.
Success Rate in Affiliate Marketing
The truth may disappoint you but 95% of affiliate marketers fail.
You may ask why? Because they are impatient and come with really high expectations. As a result, they lose hope in just a couple of months because they aren’t getting the desired amount.
This is the main reason most newcomers fail in affiliate marketing. But those who stick with it, shine, and so will you.
One of the top affiliate marketers builds his business from 00 to 0.000 per month. $70.000 was made by Doug Cunnington in 2017 from only one website. Onlinemediamasters grew from $20.000 to $150.000 only in two years.
What Makes Affiliate Marketing Great
In recent times, businesses are truly recognizing the effectiveness of affiliate marketing as it helps to spread the products with low budgets and time. But it is not only good for the businesses but also for the marketers as well. These are some of the benefits you might get as an affiliate marketer.
For people who do not like to be controlled and want freedom and flexibility in their work affiliate marketing can give them that. It allows you to work whenever you want and wherever you want. There are no restrictions that come with it but your effort will show in your growth.
It will not cost you a ton of money, in fact, initially, you can start without any money at all. You will not need an office or a team of yours. If you already have one that’s great but these are not necessary when you are starting.
No Need of Own Products
One of the great things about affiliate marketing is you are doing marketing for others’ products and services which makes it a very easy place to start with. You do not need to build or create any product or service of your own.
No Need for Formal Education
It does not matter what your age is or what profession you have come from. You do not even need a certificate to start affiliate marketing. All you need in this field is skill, knowledge, and a lot of patients.
Top Affiliate Programs in 2021
An affiliate program also known as an affiliate network, is a third-party platform that allows affiliates and merchants to work together. It tracks every action taken by customers as how many clicks a link gets, how many people watch an ad, etc. There are so many of these programs but as a beginner, you have to choose carefully. These are some of the best affiliate programs for newcomers.
2. eBay Partner Network Affiliate Program.
4. Commission Junction.
Financial freedom is one of the basic things everyone should have to lead a good life. The value of money is undeniable, but that does not mean you have to work your whole life and all the time to earn money. This is why passive income is so important.
Affiliate marketing is one of the best ways to create a passive income flow once you have built it. On the other hand, the industry is growing day by day. It is the best time to start if you have not started yet. I hope you’ve got your answer to the question – “is affiliate marketing worth it?” Best of luck with your next journey!