There are lots of myths out there surrounding affiliate marketing, and these can frequently cause brands/businesses to pass on these kinds of programs. It’s important you understand some of these myths so you can make the correct decisions for the future growth of your business.
Whether you’re the brand manager at a Fortune 100 brand or the marketing director/everything else at a startup, setting up a solid affiliate program can open a revenue avenue without much of the hassle usually associated with setting up new marketing initiatives.
An affiliate marketing program is a lot of work, and in most situations there’s a lot of competition so you’re not going to be bringing in money immediately. Business owners and entrepreneurs suppose that all you need do is setup a site and choose an affiliate to associate with and then just let it run its course
The affiliate marketing business relies on fostering relationships. You foster these relationships by:
*****Bringing the right partners into your program
*****Seeking out better and more efficient partnerships
*****Updating your content regularly to keep things new and fresh
You need to work in a very popular and lucrative niche to make affiliate marketing work for your business.
A lot of companies do not even bother trying an affiliate marketing program because they think their market is too little. Some companies will try and break into bigger niches even if they don’t have any interest in the market niche.
It is true that popular niches do better with affiliate marketing, but that doesn’t mean you do not have a chance at success. Stay in line with the goals and mission statement of your company and find affiliates who understand the relevance of working in a market where you are comfortable.
Affiliate marketing is a strategy of yesterday
You might come across a couple of link problems with Google if you are not managing your program, but for the most part the entire notion of affiliate marketing still makes sense to Google –it offers another relevant and related resource to consumers.
You find a product you like, promote it to others, and earn a piece of the profit for each sale that you make.
You’re happy because you earned a commission,
The company is happy because they have a new sale from a customer that they might not have normally been able to reach,
And the customer is happy because they learned about a product from you that will hopefully fulfill a need or desire.
THE BEAUTY OF AFFILIATE MARKETING IS THAT YOU DON’T HAVE TO INVEST THE TIME AND EFFORT TO CREATE A PRODUCT TO SELL. YOU CAN BEGIN SELLING SOMETHING AS AN AFFILIATE AS SOON AS YOU HAVE A PLATFORM TO SELL IT ON
1.Start up costs are super low. To start a regular business where you rent retail space and stock inventory could easily set you back tens of thousands of dollars. As an affiliate, you can get started for the cost of a burger and fries.
2 You don’t need staff. No more office politics, and no messy payroll handling. When you get started as an affiliate you can do it all yourself, and when the time comes to grow your business it’s easy to outsource.
3 You don’t even need a product you simply have to promote products which are already for sale. Whether it’s an eBook about dog training your or a weight loss supplement – there is a product out there that you can sell as an affiliate.
4 You don’t need any expert knowledge on a subject to sell affiliate products either. If you want to be an affiliate for weight loss products, then you don’t need a PhD in nutrition or exercise. All you need is an eager-to-learn mindset and the ability to market the right affiliate products to the right people.
5 Earn passive income. It’s a bit like the money you earn if you buy a house and then rent it out – for as long as you own that house and are renting it out, you earn money. In a normal job you only get paid once for the work that you do, but as an affiliate you can keep making money from the same work day in, day out.
6 The opportunity to work your own hours. I’m not saying that you’ll be sitting on a beach drinking Pina Coladas and only working an hour a day after your first month as an affiliate. However, you do have the power to work when it suits you and have a more flexible life. You become your own boss – how cool is that!
Like any real business it all depends on how much effort you put in and how seriously you take it. For example if you only work an hour a day, or you spend most of your time checking emails as opposed to doing the work, then you might not make much money at all.
But if you are really dedicated and treat your affiliate marketing like a real business, and you put 100% in every time you sit down in from of your computer, then you can DEFINITELY make a full time income.