When it comes to affiliate marketing myths, bad press, and good press, it’s enough to truly confuse a person.
Affiliate marketing can be a great way to generate passive income from your website. It is a business model that may or may not be worth it for you and your business. So, it’s beneficial to explore the benefits (and pitfalls) of affiliate marketing.
Here is the question everyone is asking – Is affiliate marketing really worth it, or is it better to concentrate on other monetization methods?
In this article, we’ll cover how affiliate marketing works and how to make money with affiliate marketing.
WHAT IS AFFILIATE MARKETING?
Affiliate marketing is the process of earning money (commissions) every time you promote a company’s products or services on your website and generate a click on the product or service link or by driving a sale.
There are two ways to earn money from doing affiliate marketing:
Affiliates receive pre-defined payment when a website visitor clicks on the product (or service link) – Pay Per Click (PPC). The other way is if the customer actually purchases the product (or service) – Cost-Per-Acquisition (CPA).
WHAT ARE THE PROS AND CONS OF AFFILIATE MARKETING?
Below are some pros and cons of affiliating marketing to help you understand the benefits and pitfalls. Understanding these concepts can help you decide if affiliate marketing could be a beneficial addition to your website and/or digital marketing campaigns.
- You don’t need to create a product, service, or course yourself
- The product owner deals with the customer service and returns
- It’s a great way to monetize your website
- Low-Cost Start-Up
- A convenient and simple type of digital marketing
- It can boost your search marketing results on Google and other platforms
- It’s scalable
- You’re effectively building another business instead of your own
- No control over the product you’re promoting
- The competition can overtake you
- Many consumers don’t trust affiliate marketing due to scam products
In addition to monetary benefits, affiliate marketing can be worthwhile because it offers fast results. By driving traffic to your own website, you are creating traffic to the affiliate links on your site without any extra work. You can just sit back and watch as the clicks and sales send money into your pockets.
There are plenty of online resources, including affiliate marketing podcasts where you can learn more about the benefits of affiliate marketing.
Contact Haarty Hanks digital marketing agency for a consultation about our professional digital marketing services and creative website development for businesses.