Affiliate Marketing Defined
What is Affiliate Marketing?
Affiliate Marketing is a “marketing arrangement where an online product creator pays a commission to a non-associated party (external to the creator’s company) for traffic or sales generated from that party’s referrals”. If you’re a beginner, the term “affiliate marketing” is new to you.
So, let’s break it down.
Affiliate marketing is largely thought of as a modern, quick, and effective way to make money online. It is described as the partnership between an individual and a business. The business creates the product (physical or digital) to be sold and the individual (affiliate) creates content, such as blog posts or videos, and drives traffic to this content to market the said
business’s products or services. The audience is driven to the product or service for sale. If a purchase is made, the individual (affiliate marketer) earns a commission.
Affiliate marketers can employ any method of promoting that works for them. As an example, a blogger becomes an affiliate through an affiliate network and places a button, banner, or link within their blog posts to the offer. This gets their reader’s attention and drives them to the product being marketed. The more social media channels and platforms on the internet the blogger utilizes, the better the chance the blogger will make an affiliate sale.
It is interesting to note that some term affiliate marketing as a ‘side hustle’ when many people are so successful that it is their primary income.
Benefits of Becoming an Affiliate Marketer
A lot of people benefit from affiliate marketing. It is considered to be an effective method of earning an online income. It is also a ‘passive’ method, so your contribution can be minimal while still producing maximum results.
So what are some of the benefits of affiliate marketing as a primary or secondary career option?
While most endeavors come with some level of risk, with affiliate marketing there are quite a few benefits that can outweigh them. Here are five main ones:
1. Your skill set is minimal
While most career choices require you to have some prior knowledge or education, affiliate marketing does not. You can learn along the way, putting repetitive practice to good use. There are many methodologies and strategies you can follow, both on the internet and in print, on how to make affiliate marketing a success for you. Choose the one you believe will work the best for you and follow the steps as outlined. Often trial-and-error is a path to success. If you’re already an existing blogger or online content creator, you can benefit greatly by partnering with a business as an affiliate marketer!
2. You don’t need a lot of money to start
Affiliate marketing does not have the typical financial contraints associated with venturing out to change career paths or find a new one.
It is a fairly low-cost business opportunity with no obsticles to stop you from joining. You don’t need a lot of resources to get started as compared to other business ventures. All you need is to have access to the internet, understand how to use a computer, find a few reputable strategies, and be able to follow directions. If you’re tech-savvy, that can give you an upper hand, but it is not an essential requirement. Similarly, if you’re an existing blogger or online content creator, you might have a head-start. However, a lot of people have made it without either of these two skills.
3. It is a broad industry
As an industry it has a lot of depth and width. It is far-reaching and profitable; it has over a billion-dollars in worth. Searching for products or services that you understand well and you can see yourself working with is fairly easy while providing you a better understanding of the whole process. You can make your own choices while maintaining honesty and integrity which helps earn the trust of your customers faster. It is proven that those who show the most belief and interest in their affiliate products are the ones that tend to be more successful.
4. Provides flexibility and freedom
No matter if your approach to affiliate marketing is for a primary or secondary means of income, the considerable amount of freedom, independence, and flexibility is consistent. Unlike other jobs, affiliate marketing allows you to make decisions on your own and to create your own schedule. You can decide when to take days off and who to partner with. The environment and timetable you choose can maximize and optimize your productivity.
5. You can start it as a secondary source of income
Affiliate Marketing doesn’t have to be the only way for you to earn an income. In fact, if you already have a job and don’t want to quit, affiliate marketing can supplement your income. Since you already have money coming in, you can use it to make money on the side without the huge pressures of hugely succeeding from the beginning. This affords you less stress and a more relaxed attitude towards your venture. So, you can take time to figure out the methods and strategies that work best for you. However, if you do choose to make it your primary source of income, this is possible also. An income at which you can make money quicker as well as ultimately make more money in the long haul.
These are just five benefits of affiliate marketing. Since the market has such depth and is so versatile, the benefits are just as vast. Even if there are risks involved, the advantages outweigh those risks, if you apply yourself.