I feel I am well and truly underway on my journey to making money online. I have some great ideas for products lined up and I have learnt so much this year already. Aside to learning about list building and product creation I am also learning about affiliate marketing. I am going to do a few of blogs about affiliate marketing, a mini series which will share with you what I am learning and putting into practice, so that you can too. I am not sure how many parts there will be yet, but I am going to cover issues such as;
- The basics about what affiliate marketing is.
- Which platforms you can utilize for affiliate marketing
- Information and tips on being a successful affiliate marketer
- Get a free guide on the best affiliate marketing resources out there
Today I am going to cover the pros and cons of affiliate marketing. The reason for this is that there is a lot of opinion out there about whether affiliate marketing is a viable and effective way to make money online. Some people feel it is the only way whilst others feel it is a total waste of time. I have always been one for looking at the all information and then making my own decision about something, and hopefully this post will help you to do the same.
The Pros Of Affiliate Marketing
→One of the best things about affiliate marketing is that you do not need to have your own products or services. This makes it an ideal place to start making money online. The thought of creating your own product or buying a load of stock to sell on, is often a very daunting process for a lot of people, especially if you are quite new to the online sales arena. With affiliate marketing you will be promoting or selling products that belong to or have been created by someone else so you don’t need to worry about it.
→Because you do not have to invest the money into creating your own product or purchasing and storing stock, it makes it a very cost effective way to get up and running online. The other cost which often gets over looked is time. Creating your own product and arranging the logistics of buying stock can be very time consuming. So affiliate marketing can be one of the quickest and cheapest ways of starting to make money online. However you might want to dedicate a bit more time to various parts of the process and also spend some money to make sure affiliate marketing works well for you. We will look into this in more detail in other posts in this mini series.
→Once you have got your head around affiliate marketing and how it works (we will cover all this so don’t panic!), you will see that the niches you can sell in are many and varied. This is great for you because it will really increase your opportunity for income. Once you have learnt and applied the process in your first chosen niche you can then do this again in other areas of interest. For example I am concentrating on the make money online niche at the moment, but once I have achieved my goals in this area I have lots of other areas of interest to which I am going to apply everything I have learnt. One of my other passions include meditation and I really want to focus on teaching and helping children to learn meditation as I really believe it has so much benefit.
→When you have got everything thing in place with your affiliate marketing campaign, you can set it up so that the process works automatically. This gives you time to move on to your next project. You will need to check in and monitor how it is going from time to time, but ultimately it means you can have this campaign making money for you whilst you get on and do other things – or whilst your asleep! This is one of the most appealing aspects of affiliate marketing (it applies to all approaches of internet marketing), and something I find to be a great motivation to keep at it!
So these are the main pros to affiliate marketing but in order to provide a balanced summary we must take a look at the cons too.
The Cons Of Affiliate Marketing
→Affiliate marketing can be very competitive. This does depend on which niche you decide to run your campaign in, but if it is one of the ‘evergreen’ niches you will be up a against a lot of competition. The evergreen niches are generally considered to be, health, diet & weight loss, making money on line, self improvement and relationships and dating. They are referred to as ‘evergreen’ because they are issues that a lot (millions) of people are interested in and this interest is regardless of sex, age group and time of year. If you can get your campaign right they can be very lucrative which is why most people focus on these niches, driving up the competition.
→You do not have full control over what you are selling, which kind of means you don’t have full control over your business. You may be making a great income with one particular product, but if the owner of that product decides to change it or remove it from sale, there is not much you can do about that. If you have a good relationship with the seller then they should forewarn you about any changes they intend on making but unfortunately this does not always happen.
→Depending on how you are going about advertising and selling your affiliate product you will more than likely be using an affiliate platform. These platforms, such as JVZoo and Clickbank offer a variety of useful tools and opportunities, but they will take a percentage of your earnings as a result. We will cover the various platforms in a later post so you can go into this well informed.
→A common negative point for affiliate marketing is that the traffic you drive to the product ultimately ends up as the owner’s customer base and not yours, meaning you do not benefit from all the traffic and customers you are finding. This is a big draw back as finding traffic and customers can be hard work, so it would be great if you could use that to your advantage at a later date. Well stay tuned to this mini series and I will let you into a little secret about how to do this 😉
So these are some of the most common things to consider when deciding whether affiliate marketing is something you want to give a go. For me personally I think it’s a very good way of making money, and I have started making money with it. I don’t think it is a good idea to rely on this 100%, it is always better to have money coming in form a variety of different sources, but this is a really great place to start. Just a little reality check whilst we’re here; it is very easy and cheap to set up and to make money, but you do need to be prepared to take action and do what needs to be done and you do need to be prepared to spend some money too! If you’ve not clicked the link to get your free guide on the best resources to use in affiliate marketing then do it now, HERE!
Stay tuned for part 2 of this mini series about affiliate marketing. If you want someone to hold your hand and walk you through everything step by step, check out this great community which will do just that. I credit them with helping me to get up and running.
If you have any thoughts on this post or you want to share your experience of affiliate marketing then leave a comment below, i’d love to hear from you…..
Bye for now 🙂