Affiliate marketing has quickly grown into a popular business because it enables almost anyone with the Internet connection to make the profit online. According to the report, nearly 80% of affiliate marketers earn $40 thousand or higher annually by joining affiliate programs.
This stat alone is more than enough to get you thinking about joining the affiliate marketing game, but you should know that the business comes with a few downsides as well. In this post, we will introduce you to the pros and cons of affiliate marketing. There are a lot of things to discuss here, so let’s dive straight into the topic!
Benefits of Being an Affiliate Marketer
We can name dozens of benefits of being an affiliate marketer, but these seven advantages are crucial:
1. Start slowly and make it a source of passive income
Who says you have to become a full-time affiliate marketer immediately? Most people use it as the source of passive income until they grow the network and gain enough authority to switch to affiliate marketing completely. Until then, you can enjoy the privilege of being an essay writer or doing any other type of primary job while having a secondary source of income.
2. It’s a gigantic market
Do you know that the annual affiliate marketing spending is projected to hit the $6.8 billion mark in 2020? The market is huge, which means you only need to chop off a speck to become a profitable affiliate marketing professional.
3. It’s a low-cost business idea
What does it take to become an affiliate marketer? The answer is simple – all you need is a personal website where you can publish interesting and relevant content. It’s a low-cost business idea that requires little to no budget whatsoever. Of course, the job is much easier if you purchase a few automation tools and apps, but it still won’t grow your budget too much.
4. No marketing expertise needed
Although it is called affiliate marketing, you don’t really need marketing expertise to start a lucrative business in this field. Affiliate marketing platforms are easy to use and intuitive, so you only have to keep doing your thing as usual, and that is to publish high-quality content. The rest is up to the chosen network and your audience.
5. Work with multiple networks simultaneously
When you become an affiliate marketer, you can work with as many affiliate networks as you want. A survey actually reveals that 94% of publishers use two or more affiliate programs. This gives you more room for improvisations and turns you into a more independent affiliate marketing professional. The point is simple – you can diversify risks and make sure that at least one channel is always alive and kicking.
6. Professional flexibility
The vast majority of affiliate marketers love the fact that they can work from home or anywhere else in the world. After all, it doesn’t really matter where you are as long as you get the job done properly.
7. Professional independence
The final benefit of affiliate marketing is also very important. It is the ability to stay independent and choose your clients based on your professional and personal preferences. For instance, you don’t need to work with every merchant that offers you a fair commission, particularly if it doesn’t suit your area of expertise. What you choose to promote is totally up to you.
Disadvantages of Becoming an Affiliate Marketer
There are also a few downsides to the affiliate marketing business, so let’s see what it’s all about:
1. No fixed income
When you do a traditional 9-to-5 job, you get a fixed compensation for your work. Things take a different turn in affiliate marketing as you cannot expect a fixed income. Every cent you get needs to be earned, while earlier achievements make no difference whatsoever. If you want to maintain profitability in the long run, you have to fight for it every day.
2. It’s a 24/7 business
Affiliate marketing is a 24/7 business with a non-stop work philosophy. Although you stay in charge of all operations and enjoy the greater level of flexibility, it doesn’t mean you can sit back and relax. Jake Gardner, a digital marketer at the essay papers agency, says the situation is quite the opposite: “Affiliate marketers have to stay alert around the clock and always look for new ways to boost traffic and increase revenue.”
3. Competition is tough
If you expect to be the only affiliate marketer in a given niche, you are making a terrible mistake. Bearing in mind the market’s overall size and profitability, it is easy to see why so many bloggers and content creators decide to enter the affiliate marketing game. In such circumstances, only the most creative and resilient individuals can differentiate and make serious money.
4. Affiliate marketing takes time
Another common misconception is that affiliate marketing begins delivering great results instantly. Keep in mind that affiliate marketing is a process, so you are going to take some time to build a reputation, earn enough traffic, and start generating the profit. It takes some serious work to achieve your business goals and create a steady source of income.
5. Reputation risks
Many things and actions can harm your digital reputation and jeopardize your affiliate marketing hopes. First of all, a poorly-selected product that is irrelevant to the target audience may seem suspicious and deteriorate your relations with loyal followers. Secondly, your clients’ unusual or spammy marketing activities may reflect on your business and slow down your affiliate marketing success.
6. The market is packed with scammers
Although this downside of affiliate marketing is not too common if you undertake security measures, you still need to be aware of online scammers and fraudulent activities. Hackers and fake affiliates may be trying to steal your clicks or customers’ personal information, so it’s fundamental to pay attention to cybersecurity.
Up to You!
Affiliate marketing can earn you a lot of money or waste you a lot of time, so it’s crucial to prepare well and create a sustainable content strategy. We showed you the benefits and the risks of affiliate marketing, but your job is to think through it all and find a way to turn it into a profitable and long-term business.
Leon Collier is a blogger at the college paper writing service. He is interested in a broad scope of topics, including business, finance, digital marketing, travel, and personal development. He enjoys reading and playing tabletop games on Saturday with his friends. Follow him on Twitter @LeonCollier12
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