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Absolutely not. Affiliate marketing can be a great way to supplement your income, but it should never be your one and only stream of income. There are a few core reasons why.
First, affiliate marketing is subject to the whims of the market. Trends come and go, and what works today may not work tomorrow. Even though the industry is progressive and optimistic about the future, you can anticipate fluctuations and uncertainty at times. There is also a huge competition for affiliates.
You could be making a great income from affiliate marketing one day, and then the next day, your earnings could plummet. You need to have other sources of income to fall back on in case your affiliate earnings drop.
Things are not always easy in the first few years unless you have a sufficient marketing budget and have already established your personal brand.
Do you know? “People buy from people they know, like and trust” - Jeffrey Gitomer
Second, it can take a long time to build up a successful affiliate marketing business. You'll need to create content, build relationships with potential customers, and track your progress. All of this takes time and energy, and it's not something that you can do overnight, but certainly, there are great rewards in the long run.
"The most successful affiliate marketers in 2023 will be content creators and relationship builders first and foremost" - JVZOO [Global Affiliate Network Platform]
You need to be patient and consistent in order to build an affiliate marketing business that will bring in a steady income, which might take atleast 3–4 years with serious efforts in place.
If you run your own SEO-optimized niche website, your chances are higher for success due to ads network revenue along with your affiliate revenue. You can sell your own products too.
So while affiliate marketing can be a great way to diversify your income and make some extra money, it should never be the only source of income you rely on especially if you are a beginner.
Therefore, begin as a side business, pick up the trade, put in constant work, and then gradually expand to full-scale operations based on revenue earnings.
Make sure to have other streams of income to fall back on in case your affiliate earnings drop, and explore other ways as well.
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