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Is affiliate marketing really worth trying?

In our previous blogs we wrote about affiliate marketing, best advertising channels, sites that are the best example of affiliate marketing and what social media platform will help you the most. This time, we wanted to talk about benefits and disadvantages of affiliate marketing and is it really worthwhile.

To summarize, affiliate marketing is a type of marketing where you earn a commission for the online promotion of another company’s product or service. Essentially, affiliates perform online marketing on behalf of a merchant, with the ultimate goal of driving traffic and conversions for the merchant’s website. For every click or conversion earned, the affiliate is paid by the merchant.

Affiliate marketing is a beneficial method for any business that wants to grow. It’s sales without spending on a traditional advertising budget. Business spending on affiliate marketing is growing fast, and spending is estimated to grow up to $8.2 Billion in 2022, a growth of ~52% from 2017.

Today, with the expand of technology, social media ande internet in general, there are many digital marketing strategies that you could use to grow your business with. There are solutions such as content marketing, referral programs, email marketing, social media marketing, event sponsoring, influencer marketing, and many more. But the truth is, none of them offer as many benefits as affiliate marketing.

If you’re ready to start your journey with a completely different and unique advertising strategy, but still need that last bit of motivation to do so, this is a place for you.

First, we need to underline that affiliate marketing is a low-cost business opportunity. There are practically no obstacles for you to join. Compared to other business fields, you don’t need to have a huge capital on hand. All you need to have is electricity and internet connection.

Affiliate marketing is also great because it does not require you to quit your current job. You can make it your side source of income and see how much money you can make from it. After a while, it can become your primary source of earnings..

This field can also boost up your reputation. If you cooperate with trustworthy and valuable affiliates, your brand will quickly be recognized as a reputable company that people want to do business with. Companies with a strong positive image attract more active consumers.

The main advantage of having an affiliate program is that it is entirely performance-based. Affiliates are only paid a commission once the desired action has taken place, and because of that they are more motivated to drive the conversion you are looking for.

Another great benefit of affiliate marketing is flexibility. You can choose to work full time, part time or if you want, you can be a freelancer. Our point is, you will have enough free time to develop yourself in anything you want, but still making an income.

Affiliates can be found in every market and product category that exists today. Many of them already have an established visitor base. These partnerships grant the opportunity to expand out into new markets that you might not otherwise have had the opportunity to explore. Think of these partners as an extension of your current marketing or sales team.

Of course, affiliate marketing, like any field, has its disadvantages. One of the biggest challenges when it comes to letting someone advertise your products and services on your behalf is a potentially damaged reputation if things go wrong. So, if you want to prevent this, you need to be very careful when you choose your affiliates.

Also, a big threat to business is when your affiliates fake leads or create certain actions. When affiliate marketers are dishonest about their efforts, you lose money, potentially reputation, and end up with no positive results at all. You should be mindful and monitor your affiliate marketing results carefully to avoid this.

One more catch with affiliate marketing is that this field is not for those who are not ready for really hard work and for those who do not have patience. Just like with any other marketing strategy, you will need to work hard to see the benefits.

Last but not least, together with hard work and patience, you need to be aware of the fact that there is no 100% guarantee that you’ll be successful. Every decision businesses and content creators make comes with uncertainty, and you can never be completely sure that something will work out for you.

Affiliate marketing can be a very effective, low-risk investment to help expand your marketing efforts beyond a small business’ traditional bandwidth. It can be difficult to manage at first, but the advantages it brings are definitely worth the effort and hours of hard work! If you work hard for this, it is certain that you will succeed.

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