Affiliate marketing is responsible for more than 15 percent of all the revenue earned through digital media advertising. What is more, it generates roughly 15-30% of all the sales that advertisers make. On top of all that, 35 percent of all affiliate marketers earn more than $20,000. All that should be enough to convince you to operate as an affiliate marketer, especially if you wish to excel as a self-made entrepreneur.
Why are online entrepreneurs kicking their careers off with affiliate marketing?
It costs little to nothing to start
Most online businesses require a substantial amount of money (capital) to start. However, none is as cheap or affordable as affiliate marketing. Why is it affordable? For starters, you don’t need any hefty, costly piece of equipment. Mostly, you will be good to go with nothing other than your e-Commerce website. In almost all cases, firms offering affiliate programs charge marketers nothing to join.
No need for creating your products or services
Secondly, it’s worth mentioning that you don’t have to create any product or service to excel as an affiliate marketer. Essentially, you save a ton of money that would have gone into creating, marketing, and distributing products/services. Therefore, you have all the time for committing yourself fully to the products and services that you’re marketing. However, the fact that you have no product under your name doesn’t make you any less of an entrepreneur.
No need for stocking or shipping products
In running a regular offline business, entrepreneurs often have to consider the cost of stocking and shipping products. Such expenses can double or triple your operational costs, which then affect the final price you charge clients for buying or using your product. In this regard, you have no reason for worrying yourself sick about such issues. Why is that the case? Well, you’re only marketing somebody’s products. It’s their job to stock, restock, and worry about shipping.
Freedom to work anytime and anywhere
Affiliate marketers can work anywhere. For example, you can work from home, the office, or while traveling too. Mostly, you get the chance to work as a freelancer and grow into a self-made entrepreneur. What is more, working as an affiliate allows you to continue earning passive income for the rest of your life. The money will keep coming in as long as you continue marketing the same products through their e-Commerce sites. It is not stressful to run!
Additional income stream
Self-made entrepreneurs rarely rely on only one income earning activity. Therefore, you should copy them too. Look for some other sources of income to augment what you receive from your primary stream. Here, affiliate marketing would be an excellent bet for you. The fact that it requires little to no investment makes it perfect for you. In addition to this, it doesn’t need your attention all the time, either. Let the affiliate program run on its own on your website. It is a profitable venture.
Now that you know why affiliate marketing remains an attractive proposition to budding online entrepreneurs, you should also learn its dangers. This way, you would arm yourself properly against the likelihood of quitting when things get hard. After all, this form of marketing requires commitment from any entrepreneur who wishes to earn good money from it. Below are a few issues that you must familiarize yourself with to hack the business:
- You need enough traffic before you can start earning a good income
- Beware of affiliate hijacking where your referral makes a purchase, but you don’t get the credit or commission for making it happen
- Bad referrals are capable of ruining your reputation
- You have no control over the product you are marketing
- Many businesses don’t pay their affiliates
- Competition is intense since other marketers probably know the excellent program you just discovered
- The customers you refer aren’t yours but the merchant’s
In conclusion, affiliate marketers can grow to become as wealthy as their minds can imagine. Growth is all about the time and level of dedication you are willing to put into marketing the product. As long as your brain embraces continuous learning, you will soon start seeing the benefits in your online business. Moreover, you should avoid being in a rush to join any program. Take your time to study and learn more about affiliate marketing before venturing in.