The top affiliate marketing myths
Affiliate marketing can be highly profitable for committed entrepreneurs who are prepared to do their research and put the work in. However, there are a lot of affiliate marketing myths floating around that can mislead the first-timer into thinking that the industry is a declining business model – or on the flipside, that it is a low-effort way to get rich quick.
If you want to know the truth about affiliate marketing and bust some marketing myths along the way, read on to find out the answer to questions like “do affiliate websites make money,” and learn some pitfalls to avoid too.
Myths of affiliate marketing
So, let’s start off by busting some of the most pervasive affiliate marketing myths that do the rounds, from those that promise you a life of luxury after a few weeks, to those that say you won’t make any money at all if you haven’t got the right background.
• Affiliate marketing myth №1: It’s a get rich quick scheme.
The idea that affiliate marketing is a get rich quick scheme has been around since day one. Is affiliate marketing profitable? Yes, if you do it right and are prepared to put the work in, but you shouldn’t expect to be retiring to a yacht in the Caribbean overnight, and you’ll never get there at all unless you’re tenacious, persistent, and able to think outside of the box.
• Affiliate marketing myth №2: If you can bring in huge streams of traffic, you’ll make money.
In order to be able to achieve a conversion, sale, or acquisition, you have to be able to bring in traffic to your website or links to your partner scheme. However, bringing in huge volumes of traffic isn’t going to be profitable if none of that traffic is interested in what you do, or can’t be converted into sales.
Targeting your niche demographics and concentrating on quality and not quantity is much more likely to result in a big chunk of commissions than focusing on simply getting as much traffic as possible from any source.
• Affiliate marketing myth №3: You don’t have to put a lot of work in to succeed.
Because you can get up and running with an affiliate marketing scheme very quickly, first-timers often think that it’s a really low-effort pursuit, and that money will just roll in by itself without a lot of work. However, affiliate marketing is just like any other business – if you don’t do your research and treat the endeavor as a real business, you’ll be lucky to make any money at all. Even when the cash starts rolling in, you can’t rest on your laurels; if you want to keep making money, you need to stay on the ball!
• Affiliate marketing myth №4: You need lots of qualifications and experience to succeed.
Affiliate marketing is the great equalizer; it creates a level playing field on which everyone from high-flying CEO’s to business school graduates to stay-at-home moms and people working other jobs can compete and stand a chance of winning some of the market shares.
Whatever your background, you will need to learn the industry, build up a good basic understanding of the principles of effective marketing and how to apply them, and do the work – but successful affiliates are usually everyday people with little to no prior business experience.
• Affiliate marketing myth №5: There’s no financial outlay required.
When you get started with an affiliate scheme, you don’t have to spend any of your own money – and no reputable affiliate scheme will charge you for joining or expect you to pay them any money. However, if you invest some funds into your marketing and business development, this will pay for itself many times over – and most profitable affiliates reinvest a percentage of their earnings into their ongoing success.
• Affiliate marketing myth №6: If you make money, it’s down to luck, not effort.
People who have decided that affiliate marketing is not for them, or who tried it out and gave up in short order often peddle the myth that making money from affiliate marketing comes down to pure dumb luck. This is usually because they didn’t find the right approach or gave up too quickly – and any successful affiliate will be able to explain how they got to where they were going and understand why their approach worked – and why someone else’s didn’t.
Is affiliate marketing dead?
There are any number of people out there who will tell you that affiliate marketing does not work, which usually comes down to a lack of understanding of the business model itself or the belief that it’s a declining business that has already peaked and is on the downhill.
However, the sheer number of good quality products and services offered by affiliate schemes and the number of affiliates that have turned a part-time hobby into a big, successful business doesn’t bear this out. If you regularly buy goods or services online, you have almost certainly made purchases via affiliate partners without even realizing it.
This isn’t something you have to take at face value either – if you start researching affiliate schemes, products, and demographics, you will soon learn to recognize a viable and profitable business model when you see one, and so you can prove the veracity of these claims yourself!
Affiliate systems are quick and easy
If you want to get a feel for the market without investing a lot of money with the risk of no return, it isn’t hard to dip your toe in the water and begin setting up your own affiliate marketing campaign. You can join an affiliate scheme quickly and easily, and get started without having to commit a lot of funds or giving up your day job before you know how it’s going to turn out.
Does affiliate marketing still work?
So, does affiliate marketing work? Well, it works if you work – and work smart, not just hard. You can’t expect to pitch your virtual stall on the internet and have people to come and check it out without letting them know it’s there and explaining why they might want what’s within it.
If you’re wondering how do affiliate programs really work, well they are built on the foundations of good research, a proactive and adaptive approach to self-promotion, and the ability to find and target streams of buyers from the appropriate demographics in a way that resonates with them.
What is affiliate marketing online? It’s the same as any other online marketing endeavor. You need to have a plan, build a campaign, and vitally, be able to measure and assess your success and continually work to improve it. This is the foundation of any marketing campaign, whether you’re selling your own goods or those offered by a third-party partner site.
Can I make money with affiliate marketing?
“How much can you earn from affiliate marketing” is one of the most common questions from first-timers, or those wondering if it’s worth the effort. The answer will depend on a number of variables, including:
• Your ability to identify a demand or waiting market for a certain niche.
• Your ability to find an affiliate scheme that serves it, and provides a fair rate of commission with the appropriate support to help you get going.
• Your ability to find the buyer demographics that want to buy what you offer, and target them appropriately.
• Your willingness to put the work in, and potentially, invest some of your own funds into promoting your goods or services when you’ve identified a demand.
• You will also need to be able to research effectively and know what to do with the information you discover and learn the skills to turn this information into a targeted, effective marketing campaign that will drive sales.
Ultimately, how much you can earn from affiliate marketing depends on you – and the skills that you bring to the table and learn along the way, how much effort you want to expand, and how persistent you are.
Do affiliate programs really work?
For every disgruntled ex-affiliate who dabbled with a certain niche or scheme and gave up, there are plenty of other successful affiliates who took a different approach or who didn’t back out when the going got tough and that are now earning significant amounts of money.
“Does affiliate marketing still work” is a bit of a misleading question – a better question would be “does affiliate marketing work for you,” because the answer is unique and individual to each person, and what is true for one might not be true for another.