Affiliate marketing is no longer a mysterious concept because many people have heard of it. Affiliate marketers are entrepreneurs who earn a commission by recommending other people’s products and services. For instance, if a visitor clicks a link to a product from your website, and makes a purchase, you earn a pre-determined commission. Affiliate marketing sounds like a quick way to earn money online. However, before you join the bandwagon, let us look at the main pros and cons of affiliate marketing.
The Pros of Affiliate Marketing
1. Easy to Start
Becoming an affiliate marketer is a simple process. The only requirements are a website and approval by an affiliate network. It is important to note that your website must meet the standards set by the affiliate network before you are approved.
2. A Low Cost Investment
The sole responsibility of affiliate marketers is promoting a product or service. This means that you do not have to invest in the development and improvement of the service or product you are promoting. This makes affiliate marketing to be a low cost investment.
3. Advanced Marketing Skills Is Not Required
Most organizations that hire affiliate marketers have creative departments that develop sales materials and banner advertisements. Therefore, you do not have to be a professional marketer to join affiliate marketing. However, if you have worked as a marketer before, then it is a plus for you.
4. Different Types Of Products To Promote
Affiliate marketers are offered a wide range of products to promote. This means that you have many different types of products that you can promote. Moreover, you can zero in on products that suits your target market, or pick the ones that pay high commissions.
5. A High Income
If you are an affiliate marketer, you receive a tiny percentage of the sale. However, you can still make a handsome amount, especially if you are attracting more customers. You can also increase your income potential by promoting different products from multiple companies.
6. The Potential To Diversify
As you become a seasoned affiliate marketer, you can opt to work for several merchants. This helps in increasing your sources of income.
The Cons of Affiliate Marketing
1. Marketers Have Little Control
Affiliate marketers have very little control over the offers they get from affiliate networks. For instance, you cannot do much even if you learn that other marketers are being paid higher margins.
2. Affiliates Cannot Have Personal Customers
Upon directing a customer to the seller, an affiliate marketer receives a commission only once. On the contrary, the seller makes more money from repeat purchases from the same customer.
3. Wrong Sales Techniques Can Chase Away Customers
Affiliate marketers who provide false reviews risk eroding the trust of potential customers. For example, you should not promise more than the product could deliver in your reviews. Be honest because trust is the key to success in the industry.
4. Choosing the Product that Works for You Can be a Challenge
Selecting the right product to promote determines your success as an affiliate marketer. However, affiliate networks offer a wide range of products, and choosing the right one can be difficult. You should do a thorough research before settling for a product.