Can You Really Make Money from Affiliate Marketing?
There will be many of us in jobs we don’t enjoy, just as there will be those who wish to look at a career that allows them to work from the comfort of their own home. In either instance, there are a slew of online careers you could follow, but one of the most popular is affiliate marketing.
When looking at how popular the affiliate marketing sector is, it can bring up two viewpoints. Some may consider that the industry is a viable seeing as so many are doing it, whereas others may feel that the industry is saturated and not worth venturing into. The truth is that there can be money made with affiliate marketing, but there it can take a lot of hard work.
The Truth About Affiliate Marketing
Depending on the experience some have with affiliate marketing, they can deem it a scam or the road to success. The truth is that there will be many companies that offer affiliate marketing, but not all of them will be reputable. This shows that getting into affiliate marketing requires a lot of consideration, as there’s not only the marketing to think about.
Some people may choose to work alongside one company, where others may start to work with numerous companies. There’s nothing wrong with this, but it does mean that we must research companies before we start carrying out any marketing.
Carrying out Research
Before the dawn of the Internet, researching how reputable a company is could be costly and time-consuming. However, this is no longer the case, as online users can read a series of reviews without ever leaving the house. This doesn’t mean that we should rest on our laurels, we need to ensure that we’re perusing a series of online platforms to ensure that the company is trustworthy.
Just as we need to be vigilant, we also need to be forgiving in some instances. When researching a company, it’s important to remember that affiliate marketing isn’t for everyone, and some can feel that they’ve been lied to and will leave a scathing review as a result. Carrying out the research allows you to balance the opinions being made, and leave you in a position to make a well-informed decision as to which company you should work with.
Choose Products You Know
While it’s tempting to opt for the most profitable items, it’s important that you choose products or services you have an understanding about. This doesn’t mean that you should limit your options, but instead go for a market that has room for growth. Take the family health vertical for example, you pick a product such as the best thermometer for kids or a parenting related service, so it really is worthwhile educating yourself on the chosen subject matter.
Just as testing the solution will give you an overview of the benefits, exploring the industry as a while means that you can help promote benefits, while offering content that delivers an answer to many asked questions. If you’re able to offer content that is educational and beneficial to the reader, then they will be more likely to click on an affiliate ad associated with the content.
Of course, this won’t work in every instance, it is a funnel that need to be maintained, even though you may be exploring other options.
Try and Test the Goods
Depending on the product we’re looking to market, it can be beneficial to try the product or service yourself. Of course, this will take some investment, but affiliate marketing is a business. As such, you should list any purchases as an expense, and you can gain tax relief for this along with your other expenses.
Testing the product can not only put your mind at ease when it comes to the quality, but it will also help you when it comes to yielding a turnover. Affiliate marketing is effectively a sales role, and to gain commission you must ensure that you’re marketing products in the right way. This may be a banner on a website, or a product review. In either case, showing prospective buyers that you’re familiar with the product, as well as the service as a whole makes you a more trusted source.
Create a Business Plan
The reason why so many fail at the first hurdle when it comes to affiliate marketing is not being prepared. There can be many costs to consider when embarking on a career as an affiliate marketer, and those who aren’t prepared to make an investment may fail to make a return. Of course, this isn’t always the case, but it’s something that needs considering before taking your first steps.
Creating a business plan not only gives you guidance in relation to your business goals, but it also ensures that you have an idea of how much investment will be needed. Once you are aware of what costs are involved, there’s nothing wrong with doing some research to see if any of the services are cheaper elsewhere.
Some of the costs you need to consider are as follows:
- Website Hosting
- Professional Email Address
- Ad Placement on Social Networks
- Search Engine Optimisation
- Social Media Software (Hootsuite, Buffer etc.)
The great thing about affiliate marketing is that you can start with as much or as little as you like. However, it’s important that we are realistic when it comes to potential returns. In some instances, people may not be too confident in making a huge investment. In this scenario, there is nothing wrong with using the basic tools you have to get a feel for the industry.
If you’re asking whether you can get rich with affiliate marketing, then the answer is yes. However, if you’re asking if it possible to get rich quick, then the answer is no. Affiliate marketing is much like any other role, in that you have to be knowledgeable and tenacious. Some days will be better than others, and there may even be times when you consider as to whether you should be undertaking such a role or not. But approach in the right way, affiliate marketing can be very profitable.