In 2020, it was estimated that about 80% of businesses have active affiliate marketing programs. With so many brands investing their time and energy into this technique, it must be pretty effective, right? Exactly.
Affiliate marketing is highly beneficial for brands, but the perks don’t stop there. If you’re considering taking on a career as an affiliate marketer, you could be in for the job of a lifetime.
Follow along to discover nine amazing benefits of affiliate marketing and why you should get started today.
What Is Affiliate Marketing?
Before you can truly understand the benefits of affiliate marketing, you’ll need to know what it is.
Affiliate marketing is a clever marketing technique that businesses use to draw a genuine and interested audience through recommendations. Essentially, the affiliate marketer takes part in revenue share by leading their audience to a brand’s page.
For every sale, the affiliate marketer draws, a commission is rewarded as a thank you for their hard work.
This makes for a win-win formula for both the brand and the affiliate as they both make money from customers that otherwise may not have ever made a purchase.
How Does Affiliate Marketing Work?
The technique works by tracking sales from the affiliate’s recommendations with a link or code.
The affiliate shares information about the product or service with their platforms via social media, blogs, or their own website and recommends it to their followers. The followers can then use the link or a special code that often earns them a discount for their purchase.
The purchase is then recorded and a percentage of the sale is awarded to the affiliate marketer. Easy as pie!
Benefits of Affiliate Marketing
So why is this passive-income career choice growing in popularity? Simply put, the benefits are far outweighing office jobs, conventional careers, and even other remote-working opportunities.
1. Low Start-Up Cost
As it goes, you have to spend money to make money. However, affiliate marketing is one of the least expensive careers to start up on your own.
You won’t have to invest in product development or lofty building fees. All you need is a platform to launch your business (blogs, Instagram, Youtube, and websites all do the trick), and an audience.
While you may invest in some training to expedite success and the odd advertising campaign to get you going, the start-up costs are significantly lower than any other business model.
2. Little to No Overhead
Start-up costs aren’t the only low cost in affiliate marketing. This model works hard to bring money in without taking much away. In essence, there is really almost no risk!
The only overhead you may have to pay is a website fee and advertising costs. Of course, that all depends on how large your audience is to start with!
3. You Don’t Have to Be an Expert
While many industries require you to be educated and experienced in your field, affiliate marketing can be done by almost anyone!
There are a few skills you’ll need to develop such as strong copywriting and analytics analysis, but all of these things can be learned on the go. With an opportunity like this, you could get started tomorrow!
4. No Stock Required
Another popular online career that has taken the spotlight this year is e-commerce. While this model can be incredibly profitable, you are required to manage stock.
With affiliate marketing, all of the products are already developed and ready to go and you don’t have to have them in your possession. While it is ideal to have tried the product yourself before recommending it, the name of the game is just to direct people to the seller. You’ll be rewarded without any of the behind-the-scenes mishmashes of managing stock.
5. It’s Passive Income
Tired of trading your time for money? With affiliate marketing, you can literally make money while you sleep.
All you need to do is share your affiliate code or link with your followers and let them do the rest. While investing your time in creating better content and more eye-catching ads will increase your income, the bottom line is that your work-to-income ratio is pretty darn good.
6. Multiple Income Streams
You may have heard the stat that today’s millionaires have on average seven streams of income.
While this is impressive, it is completely achievable with affiliate marketing. The benefit of this many streams of income is that if one were to suddenly drop off, you have enough cushion to comfortably get by with your business.
Affiliate marketing opens you up to promote as many brands as you would like. Just keep in mind, all of the products and services you promote should fall well within your niche. This will improve the chances of your audience actually buying the products and earning your commissions.
7. It Helps Your Readers
Your readers are coming to you for a reason. They want your advice.
Many YouTubers and bloggers alike get a lot of flack for promoting products in their videos and posts, but the fact is, people are still buying the products. If you have been struggling with the moral dilemma of selling to your audience, remember this – If they don’t want it, they don’t have to buy it.
By offering a genuine recommendation of a product you truly love and believe in, your helping your audience and saving them money by providing them with a discount for a fantastic product.
8. It’s Flexible
How many birthday parties, ballet recitals and family dinners have you missed because you couldn’t get out of work? With affiliate marketing, this will never be a problem.
Even if an event falls on a time when you’ve planned a release of a new video or blog, you can easily schedule your publishing and walk away from the computer. This kind of career provides you with a work-life balance like never before and true time and financial freedom are just around the corner.
9. It’s Mutually Beneficial
As we mentioned above, this revenue model is a win-win for both the brand you promote and you as an affiliate.
While many have been avoiding breaking into the scene by asking questions like ‘is affiliate marketing dead‘, the answer is a resounding no!
More and more businesses are hopping onto this model because of the low-risk, high-benefit outcome. When a technique is so profitable and such low-maintenance for businesses, it’s safe to say they won’t be ditching it anytime soon.
Undeniable Affiliate Marketing Benefits
Now that you know what this clever career opportunity is and the benefits of affiliate marketing, there’s no reason to delay. Whether you’ve been debating this technique for a while or just learned of it today, you’ll love the perks and freedom of this unique job. Want more tips and tricks for kicking off your affiliate marketing business? Check out our other articles for all of the business-related news you need to know in 2021.