Is affiliate marketing worth it?
Can you still make money with affiliate marketing?
Does affiliate marketing still work?
These are a few of the commonly asked questions by the people who aspire to make money online using affiliate marketing.
In fact, these are the most obvious questions because the majority of the people who tried their hand at affiliate marketing have only faced failure.
Even I'm not an exception.
My journey with affiliate marketing started back in 2012.
I was searching for ways of making money online and the majority of the so-called gurus were only talking about affiliate marketing.
I was a bit skeptical because I had no clue at that time how it worked and how one could make money with it.
I even started a blog at that time but quit on it after a few months.
So, the question is, is it still the right time to start affiliate marketing and is it still worth it?
YES, it's not late to start affiliate marketing because of the fact that it's still one of the most effective marketing strategies used by the merchants and companies. The people who don't succeed with affiliate marketing are probably the ones who don't enjoy the work it entails.
I think the best way to understand whether affiliate marketing still works or not is by looking at the statistics and forecasts about it.
- The affiliate marketing business model is preferred by 81% of marketers and 84% of publishers. Source - https://99firms.com/blog/affiliate-marketing-statistics/
- The total digital marketing revenue generated by affiliate marketing is more than 15%.
- The United States is going to invest more than 8 billion dollars by the year 2022 in affiliate marketing.
- More than 75% of publishers have a feeling that affiliate marketing offers the best way to make passive income online.
- The Google trend shows that the search interest in affiliate marketing by the people worldwide is only increasing with each passing year.
There are many more fascinating facts about affiliate marketing.
With that said let's try to figure out, is affiliate marketing worth it and could you make money with it or not.
Is Affiliate Marketing Worth It?
As I just briefly answered this question, yes it's still worth but not for everybody.
There are many reasons why affiliate marketing works only for a few and all others only face a failure.
It's not hard to acquire the skills required to run an affiliate marketing business.
But the issue is that only a few people are willing to learn those skills and apply them in their respective affiliate marketing ventures.
Out of those people, only a handful of affiliates actually continue working on the business for a longer period of time.
Here are some of the main reasons why affiliate marketing doesn't work for everyone.
1. It Involves a Lot of Hard Work
Most of the aspiring affiliate marketers are not aware of the hard work involved or simply want to make money by doing nothing.
Those who are ready to put in the effort see the success with affiliate marketing in a fairly short period of time.
When you are just getting started, make sure that you are well aware of your target niche and the products you want to promote as an affiliate.
Leverage the power of the tools that help you discover a niche that you are most interested in and profitable keywords.
Next, join the affiliate networks or independent affiliate programs that offer the products in your niche and are aligned with your passion.
All these that we just talked about involve a tireless effort and the ones who understand it are the ones who are ready to become successful affiliate marketers.
If you are having a day job, then don't be in a hurry to quit unless you start making consistent income every single month.
If you are a student, focus on your studies first and work on affiliate marketing as a side hustle.
2. It Won't Make You Quick Money
Almost everybody who aspires to be a successful affiliate marketer gets started with the mindset of making some quick money.
I won't say that it's not possible to make money fast with affiliate marketing.
There are ways to make quick money with affiliate marketing but that involves investments in getting targeted traffic, for example using paid advertising.
If the budget is not an issue for you, you have great potential to make more money easily.
In that case, you could simply run the PPC ads on search engines like Google or Bing and get the targeted traffic to your affiliate offer.
Or you could run the ads on social media platforms like Facebook or Instagram and start making money very fast.
But everyone is not that lucky and are often limited by budget.
Rather than working for making some quick money, focus on building a long-term sustainable online business.
Set the long-term goals of making a few thousand dollars per month within a year or so depending upon what you want to accomplish.
Be mindful of the effort needed to achieve your financial goals.
3. It Needs a Steep Learning Curve
Since you are reading this post, I believe you have come across so many affiliate marketing gurus who want you to believe that it's possible to make money online by doing nothing.
In that case, they either want to recruit you under their MLM tree or want to sell out some costly course.
No harm in that but they will never reveal what they are doing behind the scenes and what it took them to reach the level they are today.
What nobody is talking about is that mastering affiliate marketing requires a steep learning curve.
Learning is also a continuous process and you need to be flexible enough to quickly adapt to the changing trends and technologies.
What works today may not be working tomorrow and by the time you become proficient at something today may change tomorrow.
It may happen that initially, you might have picked up a niche or the products and they didn’t work for you.
Now, without getting disappointed you should focus on trying another niche or product.
At the end of the day, anything you learned something new that will pay you someday in the future.
There is no upper limit on how much money you can make with affiliate marketing but one thing is sure that for the majority of the people it doesn't happen overnight.
4. It Needs a Lot of Patience
Do you have a tendency to start working on something quickly and give up on it very quickly?
If that is the case affiliate marketing may not be suitable for you.
Patience and perseverance are the key factors when it comes to achieving success at anything in life.
Do you want to stay healthy? You need to consistently do exercise every single day.
Do you want to build a muscle? You need to lift the weights multiple days a week.
It’s that simple.
The same thing is applicable to affiliate marketing, selling on Amazon, running an eCommerce store, dropshipping, starting a coffee shop, etc.
You must be willing to sacrifice your time, sleep, money or all of them at least for a few months or years until you achieve your desired results.
During my years of experience as an online marketer, I have seen many people on both ends of the scale.
I know people who are making 6 or even 7 figures a month and others who do nothing and are stuck in the same position for years.
It’s completely up to you who you want to become?
Take your time in growing your network with fellow affiliates, acquire the required skills, try out reputable affiliate marketing courses, be the part of the discussions so on and so forth.
It’s of course going to take time in adapting the right strategies for doing affiliate marketing, but believe me it’s all worth it at the end.
5. Stay Away From a Shiny Object Syndrome
In simple terms, when you are suffering from a shiny object syndrome (SOS) you can’t focus on finishing one project and start working on the next one.
Most of the aspiring entrepreneurs suffer from this type of distraction because they are not afraid to start new projects.
The solution to this disease is a ‘focus’.
You need to decide on a specific niche or product and stick to it until it becomes profitable.
If by any chance you picked up the wrong niche then you will know about it in some time and in that case, you could move on to try out another one.
The idea here is to align all your efforts and energy to make one thing work for you.
You will come across many shiny products on the way that looks promising but you don’t get distracted by it.
Don’t spread your efforts on promoting multiple products in different niches but focus on making a single product under one niche profitable.
Make the full utilization of the keyword research tools to get insights into what your potential customers are searching for on the search engines like Google.
As an affiliate, your job is to provide a solution to the problems your target audience is looking for.
That way you become a trusted source of information in your niche and customers are more likely to make a purchase decision based on your recommendations
If you try to cover multiple subjects, you will exhaust yourself very quickly and won’t be able to attract the targeted visitors who are interested in your offer.
The benefit of sticking to one small niche is that you can attract more people with similar interests and you have higher chances of making more sales of the products you are promoting.
The actions involved in affiliate marketing are in fact pretty straightforward but all it takes is a consistent effort for a longer period of time.
Many aspiring affiliates give up on their dreams thinking that just because they don’t achieve success instantly affiliate marketing is not the right choice for them.
When you have higher expectations from affiliate marketing, be prepared to take the massive actions.
Building a profitable affiliate marketing based online business takes a great deal of hard work and consistent effort and when you realize this you are already on your way to success.
Are you struggling to launch your affiliate marketing business or stuck on the way? Feel free to let me know in the comments below and let's work together to get rid of the roadblocks. 🙂