Affiliate marketing is a business model in which you can earn money by promoting another company's products or services. You earn a commission when you generate leads, sales, views or clicks via links. Affiliate marketing is often misunderstood as a money making model. This is because of the myths surrounding it. Some blow it out of proportion while a few others demean it. This article dispels the myths surrounding this business model so that you get a defect insight.
1. It is easy money –
This is one of the main reasons people get into affiliate marketing. Set up a website, write some content, embed the links and watch the money roll in. It takes a lot of management to set up a successful affiliate marketing program.
To start with, you have to choose the right niche market, program and product. You have to update the website content regularly. There is a need for SEO compliance as well as product promotion. You also have to keep track of your campaign to replace the not-so-well-performing strategies.
2. It is difficult –
Whoa! We just told you it's not easy and now we're telling you it's not difficult. That's the catch. It's not difficult if you are ready to commit some time and effort to its growth. There's a lot to learn about affiliate marketing if you are willing to learn.
3. It will not last –
This is the most popular myth in the modern times. The changing Google algorithms are to blame for it.
Google is pulling up sites that have a lot of links and banners, but no content. However, affiliate marketing has evolved incorporating new SEO techniques. Banner ads are being replaced by text ads. Quality content has become the priority. Social media syncing is another method that is being used. So, it is not dying out; it's very much here to stay.
4. There's no money in it –
You will not make millions in affiliate marketing, but the revenue can help supplement your monthly income. The commission rates range from as low as 1% to as high as 60%. It all depends on how seriously you pursue it and the area you are targeting. A well-thought out affiliate marketing plan coupled with full-time dedication can earn you serious profits.
5. Choose the most popular niche –
A popular niche means more customers, so more money. It is true, but does not guarantee success. What works for a friend might not necessarily work for you. You can opt for a less popular but profitable niche. To add, choose a niche, you are passionate about.
6. Restrict yourself to one affiliate program –
You'll have many marketing guides tell you this. The reason they recommend only one program at a time is so that you are able to focus building it rather than dividing your attention between too many. If you want increasing your earnings by joining multiple affiliate marketing programs, you can choose related ones. This gives customers an opportunity to compare prices raising the chances of a conversion.
So, do not get trapped by these myths and take the right business decisions.