Is Affiliate Marketing worth it?
Updated: Dec 16, 2022
Is Affiliate Marketing worth it?
Yes, affiliate marketing is worth it and it is a wonderful way to make money online. It ranks in the top 5 most popular home-based employment opportunities. In fact, as long as you have a reliable internet connection, you may work from anywhere in the world.
Basically, it involves promoting someone else's product or service and getting paid for it. You don't have to create your own products or services, you just have to promote someone else's.
When did Affiliate Marketing start?
The first recorded use of the term 'affiliate marketing' was in 1998 and several researchers have noted that people began using it starting 2004 onwards.
BUT, things have changed, of course!
In the “old” days marketers would create hundreds, even thousands, of low-effort sites purely for plastering affiliate ads and banners. Or they would run paid traffic straight to their affiliate links.
This kind of affiliate marketing is mostly dead and rarely profitable… But affiliate marketing as a whole is alive, kicking, and growing. Affiliate Marketing Trends are in progressive mode.
Affiliate Marketing is expected to reach $17 billion by 2026 (@hafizaderemi/Twitter).
But many newcomers or beginner affiliate marketers fail at the later stages losing momentum by approaching it from the perspective of a get-rich system.
In the globe today, there are more than 10,000 different affiliate programs based on various business niches.
"Affiliate marketing as an industry is now worth $12 Billion a year and is expected to grow by 10% in the next few years. Email marketing may still be king, but affiliate marketing has caught up and now generates at least as much as email marketing, contributing to about 15% of the total revenue made through ALL digital marketing" - JVZOO Global Affiliate Network Platform
To succeed in affiliate marketing, you must have a positive mindset attitude and a business-focused work approach. Start as a side hustle and then grow it as a business.
“Affiliate Marketing Tracking Software Market is growing at a High CAGR during the forecast period 2022-2029. The increasing interest of the individuals in this industry is that the major reason for the expansion of this market” - DesignerWomen, June 23, 2022
The key to being a successful affiliate [in 2022] is to build an internal audience and make sure the offers you promote match their interest.
As an affiliate marketer, you are primarily in the people business. You need to build your email list, a social media following, and an active readership.
Your product recommendations just happen to be the way you monetize your audience building.
A website or blog with high-quality content optimized with SEO and developing personal branding are essential elements for success, especially in a post-pandemic era. This is especially true for individuals who are battling with advertising budget restrictions or issues.
"According to Shopify, affiliate marketing is a profitable business strategy for skilled individuals to make money" - Business Insider Africa/OLAYINKA SODIQ/ April 24, 2022.
Worth noting is that one of the biggest trends right now is companies seeking out popular content creators and offering them sponsorships for product mentions. As affiliate markets, we need to take a cue from influencers and YouTubers.
The most successful affiliate marketers [in 2023] will be content creators and relationship builders first and foremost. The extra effort in creating valuable content, engaging videos, and funny emails should pay off…
When it comes to “quick success” there has never been a substitution for “hard work”.
Is Affiliate Marketing legal?
Yes, affiliate marketing is legal. It can also make you rich if you are seriously committed.
By having an affiliate program that strives to hire and approve affiliates to promote products and give compensation for their efforts as commissions, it is generally adopted by the majority of businesses throughout the world in their commercial marketing strategies.
Will Affiliate Marketing die?
No. In light of various statistics, facts, and trends observed, affiliate marketing will not die. In reality, it gets better every year.
Why Affiliate Marketing is booming in 21st century?
The advent of the internet and social media gave affiliate marketing a new lease of life.
One of the main reasons for its renewed popularity is the ease with which people can find affiliate products through Google and social media, and then promote them on their websites or platform of their choice and earn commissions.
It is a great way to generate additional income without having to come up with your own product or service.
As long as you have a reliable internet connection, you may work from home or anywhere else using this amazing business model of affiliate marketing.
Automation can be implemented as you grow it, simplifying your job processes and freeing up some time for family or learning.
It’s also very cost-effective as there is no initial investment needed and you can start working on it after signing up and getting approval with an affiliate program.
However, it is recommended that you learn about it through a course or training provided by a mentor who professionally guides your career.
Pro-Tip: Begin as a side hustle, then expand it into a business.
Overall, with years of consistent work, affiliate marketing's outcomes or results get better and better. If you're willing to put in the work, affiliate marketing can be a very rewarding career for you in the long term.
Here's related information that you may find helpful - 81 Affiliate Marketing Related FAQs and Answers to see if they may help you move forward as an Affiliate Marketer with confidence.
P.S: Visit Digital Marketing Forum that answers [most un-answered] questions.
P.S.S: Please don’t forget to forward this blog post to your network so they can get the best tips, practices, strategies, education, resources, and tools to help their businesses grow.