If you have been actively following the trend or learning about online business opportunities or passive income sources, you must have heard of affiliate marketing. Affiliate marketing is a highly discussed topic on various online platforms and amongst various online communities.
The term ‘affiliate marketing’ refers to the advertising model wherein the advertiser of the products or services sold by a business firm earns a commission on the basis of sales made through their promotion efforts. In the past decade, affiliate marketing has become quite popular. Many aspiring entrepreneurs who look for opportunities that they can take up from the comfort of their home without making massive investments choose affiliate marketing.
Even though many experienced affiliate marketers share their success stories and the secrets behind them with the world, a large number of people still doubt the legitimacy or profitability of this business avenue. The Internet is one of the best technologies in today’s time.
However, it has also earned a bad reputation due to many reasons. Therefore, people don’t trust it easily whenever it comes to any business model or avenue that is closely linked to the Internet. Several articles, case studies, and other online material available show that affiliate marketing can help you earn millions of dollars. But still, the question, “Is affiliate marketing really a million-dollar opportunity or just a fad” lingers in the mind of many people.
We have tried to answer this question as simply as possible through this blog post. Before we delve into the details, let us give you a crisp answer, which is “Yes”. Affiliate marketing is not a fad at all. It’s not going anywhere as it has a huge scope in the future as well.
How to Become an Affiliate Marketer?
Those who are interested in becoming an affiliate marketer should try to understand the affiliate meaning and other concepts related to affiliate marketing very well. You can use a ton of resources that are available either offline or online. From articles and videos to books and courses, many types of resources have been generated by experts over time.
You can use them to learn affiliate marketing and pursue your goal of becoming an affiliate marketer. We know that you might be willing to get your hands on some more proof without walking on the path of conducting affiliate marketing. You might be curious to know why and how affiliate marketing is a great opportunity.
Worry not, as we have presented here some facts and figures to resolve your queries and doubts. Out of total ecommerce sales, affiliate marketing counts for around 16%. Of all the revenue that generates from the use of digital marketing channels, around 15% is contributed to affiliate marketing. An increasing number of online merchants are running affiliate marketing programs to expand their market reach and grow their revenue.
As a result, the expenditure incurred for affiliate marketing also keeps increasing, especially in countries like the USA, the UK, and Japan. More than 80% of online marketers or publishers choose affiliate marketing to earn income. The majority of them join more than one affiliate program.
Thus, it’s not difficult to comprehend why the worth of the affiliate marketing industry is expected to reach $12 billion by the end of the year 2022. Merchants across several industries, such as software development, hosting services, consumer electronics, personal grooming and beauty, pet food and grooming, and gadgets, run affiliate marketing campaigns.
What are the Different Options Available to Affiliate Marketers?
If you decide to start working as an affiliate marketer, you will have a lot of options in terms of affiliate marketing programs. You can choose the program as per your areas of experience and interest. If you find it hard to trust any merchant, you can join an affiliate marketing network. Both merchants and affiliate marketers join these kinds of networks to fulfill their specific needs.
You can pick a reputable affiliate marketing network to start your journey. On any network, you can easily find at least hundreds of merchants. All of them will have their own affiliate marketing programs. You can choose one or more from them. The benefit of joining a network rather than an individual program is that you can rely on the network to conduct activities with fairness and transparency.
If you are not from the field of digital marketing or not an Internet-savvy person, you might face some problems in the beginning. But with hard work and learning, you can resolve all problems and overcome all obstacles. It’s worth mentioning here that along with hard work, smart work is also necessary for affiliate marketing.
How to Start Affiliate Marketing Step by Step?
In order to start your affiliate marketing business, you need to have a platform. You will use this platform to bring an audience by capturing their interest in the products and services you promote. Most affiliate marketers, who are also known as publishers, get a website built for this purpose. They create engaging pieces of content and share them with their targeted audience through this website.
You can also start in the same way by getting a website made for your business. Freelance website developers or small web development firms can help you in this regard. You should ensure that your website has all the necessary functionalities.
Next, you need to figure out how to handle the content generation task. You can create numerous forms of content for your website, for example, short blogs, long blogs, images, videos, infographics, charts, and more. If you are comfortable with creating content, you can handle it. The ideal way is to handle the content part by yourself. It should be outsourced only when the site has grown to some extent.
But if you are not comfortable, you can definitely hire some people. To keep your cost in control, you can hire freshers or interns. Then comes the digital marketing or online marketing part. What you are doing, i.e., affiliate marketing is a part of the digital marketing strategy itself. But this strategy is for the merchant. Your website needs digital marketing too. You can promote your site by yourself or outsource this activity to others.
Irrespective of the affiliate marketing program or network you choose, it’s highly important that you equip yourself with the knowledge about the products and services you intend to promote on your platform.