Today, everyone knows how difficult it has become to start a new business venture. Generating sufficient capital, working over product development and recruiting the best team to manage the operations almost seems like a dream—one that’s extremely hard to achieve.
So, if you don’t have the resources but still wish to start working for yourself, then affiliate marketing is the perfect choice for you.
What is affiliate marketing?
While there are hundreds of ways of earning money online, affiliate marketing continues to be one of the popular ways.
Nearly 80% of brands utilize affiliate marketing today. While there are thousands of affiliate marketers who work from their homes, work their own hours, and live comfortably.
Affiliate marketing is the process of selling other people’s products and earning a commission over them. Affiliate marketers can choose a product that they like and promote it and in return earn a portion of profit for each sale that they make as agreed with the seller. This usually happens in three ways:
- Pay-per-sale: In such a case, affiliate marketers get a fixed percentage of the selling price when there is a sale.
- Pay-per-click: In this method, the affiliate marketers for every single visitor directed from the affiliate’s site to the seller’s website. The good thing here is that whether the sale is made or not, the affiliate gets paid anyway.
- Pay-per-lead: In such a case, the visitor directed by the affiliate marketer has to give their contact information in order for the affiliate to get money.
Why you should start an affiliate marketing business
You don’t sell what you don’t want to
Affiliate marketing allows you to decide the products you want to promote. Nobody can force you to promote products that you don’t want to, or work with people you don’t like. So, your honesty and integrity remains intact.
This allows you create and shape your career the way you want to. Added to this, you can promote products that you value personally.
It is best for people who like competition
The performance measuring and analytics offer a game-like feel as you compete against others while trying to get excellent performance for a service or product. It is fun to keep a check over how your site has been dealing with different content type, style, tone and ads.
It is a cheap business to start with
There is no start-up costs associated with affiliate marketing. So, all you need to do is sign up for an affiliate program after setting up a website.
It can develop into an awesome business
Affiliate marketing is a scalable business. Whenever you feel like you are doing great, but the burden is too much for you to handle yourself, you can hire people.
Despite this, your overhead costs stay low because neither you need customer support nor do you pay rent for an office.
After some time, you can even move towards making your own brand and hiring affiliates to promote and advertise it. Thus, you can introduce your own shipping and become a seller.
It is important for professional independence
Here, you are your own boss. You decide your own hours and where you work from. And there is no income ceiling.