Since affiliate marketing is one of the most popular ways to earn money online, there are many myths surrounding it. These may make you hesitant to try this type of marketing, which means losing out on potential profits. Plus, you might struggle to catch up with your competition if you decide to pursue affiliate marketing later.
The truth is that the most common myths associated with affiliate marketing can be easily dispelled. With a better understanding of these misconceptions and the truths behind them, you can begin your affiliate marketing journey without unnecessary fears weighing you down.
In this post, we’ll briefly discuss the merits of affiliate marketing. Then we'll highlight three of the most common myths about these programs, and explore the truths behind each one. Let’s get started!
An Introduction to Affiliate Marketing
In simplest terms, affiliate marketing is a business venture where a marketer gets paid to promote someone else's products or services. The marketer then receives a percentage of any sales made as a result of their efforts.
There are two parties involved in affiliate marketing – the affiliate, and the affiliate program. The benefits of affiliate marketing are enjoyed by each side, but we’ll be specifically discussing the affiliate experience in this post. Becoming an affiliate marketer is beneficial because:
- You can make a profit through sales, without having to deal with customer complaints, product returns, etc.
- There are very few overhead costs required to run an affiliate business, since you don't have to develop or ship the products yourself.
- You get to choose the products you market, which means you can find a niche that interests you.
Despite these advantages, there are plenty of misconceptions about affiliate marketing that can make it seem unappealing. Fortunately, these are often based on misinformation and misunderstanding about how the process works.
3 Affiliate Marketing Myths (And the Truths Behind Them)
Now, let’s take a closer look at three of the most common myths associated with affiliate marketing, and explain why each is incorrect.
1. “Getting Started Is Too Expensive”
It doesn’t take much to get started as an affiliate marketer – just determination and a little know-how. The reason many people believe affiliate marketing is too expensive to break into is because some programs prey on inexperienced individuals. These programs can be expensive to join, yet they don’t offer anything of value that you cannot learn on your own.
In reality, getting started with affiliate marketing doesn’t have to cost much if you can find the right program. To do that, you'll want to:
- Sign up with an affiliate marketplace. Marketplaces, such as ClickBank and ShareASale, enable you to connect to various affiliate programs without any hidden costs.
- Create an affiliate marketing website. This is where you will promote the programs you decide to join.
You can spend as much or as little as you want along the way, but you really don’t have to sink a lot of resources into this venture. We recommend that you start small, and expand your business as needed over time.
2. “The Market Is Too Competitive for You to Be Successful”
Sometimes, it can seem as though the current market is already too saturated to make room for another affiliate marketer. However, the mistake many of these people make is targeting an audience that is too broad and generic. This increases competitiveness needlessly.
It’s absolutely possible to break into a crowded affiliate market, by finding your unique niche. We recommend that you:
- Consider your existing interests and knowledge. Research the profit potential of markets you're already passionate about.
- Perform niche keyword research. Using free keyword research solutions, such as Keyword Tool, you can find out how competitive and lucrative possible keywords are.
Essentially, you want to find a unique angle that you can cover in-depth. This will improve your chances of making a name for yourself in the industry, and help you succeed more quickly.
3. “You Need to Have a Strong Network to Get Started”
Having a strong network of fellow marketers and collaborators increases the odds of your affiliate business’ success. After all, having inside connections will make it easier to find opportunities and get your content noticed.
However, you don’t need to have these strong connections in place from the very beginning. Instead, you can build your own network over time. Here’s how:
- Attend marketing events. These enable you to connect with industry leaders, while also putting your name out there.
- Reach out to compatible affiliate programs. A win-win partnership can extend your brand’s reach, while also increasing sales for both parties.
You can even use social media influencers as brand ambassadors for your program. In exchange for free products, you'll gain access to their millions of followers. None of this is mandatory to make a living with affiliate marketing, however – it's just a helpful bonus tool.
While breaking into affiliate marketing can seem daunting, it’s not the impossible task you might expect. It can actually be fairly simple, especially when you know the reality behind the most common misconceptions out there.
In this post, we’ve introduced affiliate marketing and discussed its benefits. We’ve also outlined three of the most common myths, and the truths behind them. They are:
- “Getting started is too expensive.” All you need is your own website, and the help of reputable affiliate marketplaces such as ClickBank.
- “The market is too competitive for you to be successful.” By narrowing your niche, you can target a less competitive audience.
- “You need to have a strong network to get started.” You can build your own network over time, by visiting events and partnering with other affiliates.
Do you have any questions about these myths, or how Affiliate Royale can help you to get started with your own affiliate business? Let us know in the comments section below!