Hey Reader…Are you stuck trying to figure out WHY YOU SHOULD START an Affiliate Marketing Business? OR, do you want to do affiliate marketing but can’t figure out why? Then you are in the right place. @ Top 7 Reasons to Start an Affiliate Marketing Business.
In this post, we are going to clear your all Affiliate marketing-related doubts and also discuss this topic – ‘Top 7 Reasons to Start an Affiliate Marketing Business’. So, stay tuned with us, and Let’s Go.
AFFILIATE MARKETING is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts. In Affiliate marketing, you actually promote other products on their behalf and if there are any successful sales you get a commission for those sales. You can promote the affiliate product through your Blog, Website, YouTube Channel, or any kind of social media like Facebook Page, Instagram, etc.
Statistics show that by 2022, the affiliate marketing industry is expected to reach an estimated worth of $12 billion. According to Statista, affiliate marketing is a multi-billion dollar industry, and spending in the U.S. alone is expected to reach over $8 billion by the end of 2022.
1. It’s Easy To Get Started
Affiliate marketing is one of the easiest ways to start making money online. It is an interesting business model, especially compared to other types of online business. This business is really very cheap to start. You don’t need to invest any cost for infrastructure, raw-material, or for product development. Even you don’t require any place to store goods.
As I mentioned earlier, with affiliate marketing, you don’t need to worry about logistics, manufacturing, boxing, shipping, returns, etc. As a beginner, you first need to focus on creating a professional-looking blog with high-quality content and get traffic to it. All you need to do is link quality products to the users who have a need.
It’s much easier than people think but you’ll need a lot of resilience. Invest as much time as you can until you start making money. Then you can make the money work for you as the revenue grows.
Commission rates in affiliate marketing vary dramatically, depending on the company and the offer. On the low end, you can get about 5% commissions on sales however, with some arrangements, you can usually earn up to 50% when promoting a class or event. There are also affiliate marketing programs that provide a flat rate per sale instead of a percentage.
2. Low Cost & Low-Risk Investment
Affiliate marketing is a low-risk and low-cost investment start-up. As an affiliate marketer, you are simply recommending products to others. You are not going to create or store any items. The only money you may need to spend will be to set up your website if you choose to buy a paid website.
Since there’s no cost to join affiliate programs, you can start making money with an established affiliate product or service without any upfront investment. Affiliate marketing also can generate relatively passive income through commission. It is one of the most popular reasons to become an affiliate marketer.
3. Huge Marketing Networks & Platforms
Affiliate Marketing is a multibillion-dollar global industry. Today it fuels approximately 15% to 20% of total online sales. Affiliate marketing spend has an annual growth rate of 10%.
A report published by Forrester forecasts that US affiliate marketing spending will have an annual growth rate of 10% between 2015 and 2020. This indicates that the value will grow to over $6.8 billion. Recently, IAMAI (Internet and Mobile Association of India) has reported that the affiliate marketing industry in India would cross the $835 million mark by the year 2025.
The scope of affiliate marketing is increasing immensely because of the growth of online shopping. In today’s time, there are numerous online shopping platforms such as Amazon, eBay, Flipkart, Commission Junction, etc. Some Well-Known Affiliate Companies Are: eBay, The Home Depot, Amazon, Flipkart, vCommission, GoDaddy, HostGator Affiliate, Admitad, etc.
You only need traffic or audience and it may be on your youtube channel, Instagram, Facebook, or any social media platform. All you have to do is paste the affiliate link on your post for verifying the sales made through your post or video.
4. Healthy Work-Life Flexibility
Affiliate marketing doesn’t involve the effort of creating a product or service from scratch, it helps you generate passive income, affiliate marketing is a flexible career option, helps earn an unlimited amount of money, provides a healthy work-life balance, enables self-employment, and does not require any basic.
Affiliate marketing allows companies to effectively market a product with a low budget, low effort and time, and at a well-contained risk level while guaranteeing a high return on your investment, increase in brand awareness, and business growth.
Because of the low-risk affiliate model, you’re not limited to the number of affiliate marketers you enlist. This means you can work with as many different marketers as you like.
You can work from anywhere in the world, anytime you want, as much or as little as you want. An affiliate marketing career can be hugely rewarding, both personally and financially, but it takes application and effort to make it a real success.
5. Generate Huge Passive Income Source
Affiliate marketing can easily help you earn a passive income through commission, while you focus on other side hustles. Though initially, you’ll have to invest time creating traffic sources, your affiliate links can continue to deliver a steady paycheck, but once you have established your affiliate marketing business, you will start to generate passive income.
All you need is just a website or a blog channel or any social media platform. Sounds good, doesn’t it? Once your business is properly set up, you can have cash flow generated 24 hours a day, 7 days a week. So yes, you heard it right: You Can Even Make Money While You Sleep.
You will earn money on products or services that you recommended months ago. Since your profile, video, and website can be viewed by people all over the world, you will also start to earn money while you sleep. You do not have to make any extra effort. It is definitely a good feeling to wake up and read a message that says that you made some money while you were sleeping.
After all, you can create a passive source of income that will pay you enough to fulfill your dreams. It will be able to make your dream come true.
6. Follow Your Passion & Be Your Own Boss
As an affiliate marketer, you are your own boss. You can schedule your work according to your choice. You can even choose where you work from and what you are working on. By focusing your niche around your passion, you’ll be less likely to have writer’s block. You’ll also be more likely to publish articles that are both long and valuable. You have complete freedom to choose the kind of products you want to market and change them as per your wish. This level of freedom is hard to come by in any other job.
Affiliates can also range from single individuals to entire companies. An affiliate marketing business can produce a few hundred dollars in commissions each month or tens of millions of dollars. When you’re that passionate about something and you’re able to focus on it, it barely feels like work. You’re fully engaged and hungry to be successful. Writing your next article feels less like a chore and more like an enjoyable pass-time.
7. There Is No Income Limit
Affiliate marketing is only worth it if you can match the right product with your audience. While it is recommended to choose a niche that you are passionate about, paying attention to the demand for products in that niche is also important. Making an income through affiliate marketing requires dedication and commitment over a long period of time. Whether you want to have a small affiliate business on the side, or build a strong brand with well-known websites, the amount of money you can generate is unbound and the potential for growth is huge.
The possibilities of earning with affiliate marketing are endless. Since you are not in a binding contract with any particular business, you can become an affiliate marketer for multiple businesses. This way, even if the income from each affiliate site is low, the combined income can be significantly high.
According to the report, the bottoms 10% of affiliate marketers earn $37,000, and the top 10% earn $71,000. Glassdoor’s Affiliate Marketing Income Statistics put potential earnings even higher. Average annual earnings for affiliate marketers are $65,800, with the range between $42,000 at the low end, and $83,000 at the top end.
Successful affiliate marketing experts can make an income of more than five figures per month. When affiliates reach this elite level, they’re often referred to as ‘Super Affiliates’. However, only 1 to 5 percent of marketers achieve this status.
Hope you enjoy this article on ‘Top 7 Reasons to Start an Affiliate Marketing Business’, which will help you to find out the specific reasons to start an affiliate marketing business.
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