Safe to say that many opinions are flying around about affiliate marketing. A lot of people have ventured into it. While many have succeeded, a lot have also been disappointed. There are also many that just write about what they have heard from others or read from other places.
To give you a clear perspective, we will be busting the 5 biggest myths that get thrown around about affiliate marketing.
You’re bound to have a different view of affiliate marketing after reading this article, so let’s get to it!
Myth 1: You Don’t Have to Do Much to EarnIt is easy to stumble upon this opinion, especially when reading forums that discuss the easiest ways to make money online. Many think that all you have to do is set up a website, run some display banners, copy and paste someone else’s content, attach some affiliate links, and make money in your sleep. This opinion gets thrown around a lot, however, the reality is different.
You need to provide value to make money. Providing value involves creating valuable content and the willingness to solve a problem. This is what makes people trust you and want to proceed through your links.
Google is the single largest traffic source and Google algorithm ranks pages based on quality and well-optimized content.
Google’s Danny Sullivan tweeted that a content that will rank has to be “great, unique, useful, and compelling”. People go online for information; you must supply this to stay ahead.
Also, you need to understand the ever-shifting consumer trends. These trends are not just those in your niche, but also digital marketing. Research reveals that videos and infographics drive more traffic than plain text. And people are more likely to share visual content. Thus, you need to put in work in making your content attractive and compelling.
Myth 2: Affiliate Marketing is Going Out of RelevanceIt is funny how some people confidently say this. The view is wrong and here is why:
In 2019, affiliate marketing spending was pegged at $6.4 billion. This is projected to increase by $8.2 billion by 2022. Moreover, 81% of brands rely on affiliate marketing.
How’s that for going out of relevance?
Affiliate marketing is at the prime stage and it is bound to get bigger. There are new paid traffic sources and social media platforms are directing huge traffic to blogs and landing pages.
Native advertising platforms like Outbrain, Adnow, Nativo, and Taboola display billions of impressions every month and drive billions of unique visitors to pages.
With more people using the internet from mobile devices than on desktops, mobile traffic can only keep expanding. What you need to do is to strategically run your campaigns and see how you can drive high-quality traffic to your website.
More people are increasingly reading online reviews before they make purchases. PowerReviews reveals that 97% of customers depend on product reviews to inform product decisions. This shows the strength of product reviews and is an indication that you can build a successful affiliate marketing career reviewing products.
Myth 3: Huge Traffic Equals Huge EarningsIt is easy to believe this myth because it appears logical. However, logic isn’t always the truth.
You need to understand that there is high-quality traffic and low-quality traffic. High quality may not be more than 1000 unique visitors but may give more than 300 sales. Low-quality traffic may be 50,000 unique visitors and less than 50 sales. Thus, you must pay attention to your traffic sources and invest more in high-quality traffic.
Many times, the fault may be at your end. You may be targeting the wrong traffic. Evaluate your keywords to see if they have the right user intent. You could do this by going to your Google Search Console account and clicking on the Performance tab in the left panel. This will show you the top keywords your website is ranking for, along with the number of clicks you are getting for each term.
Also, your content may not be helpful and engaging enough. Ensure you put in a lot of work in content and advertisement. This will help you pin the problem accurately to traffic sources.
Myth 4: You Need a Lot of Money to StartYou need money to start: Yes, but you don’t need a lot of money. In fact, if you don’t have a website, you can still start.
With the use of helpful content on Facebook and LinkedIn, you can build a dedicated following and grow an email list. The money is in the email list and not necessarily the website.
Through brilliantly written email copies, you can make money from your list. You have already established trust with your content, what you have to do next is sustain it.
To collect leads, you can use services like LeadPages, ClickFunnels, and InstaPages to create professional-looking pages.
Charles Ngo, a top affiliate marketer revealed that he started affiliate marketing in 2008 with $500 per month.
Yes, you need money to run campaigns, invest in quality traffic, and pay for some helpful tools. However, a limited budget will help you to be more prudent with your investments. You would want to learn more about what works before you invest.
And according to Mark Cuban, “All you need is a laptop or a PC and an Internet connection and you can pretty much do almost anything and create almost any type of company.”
Myth 5: You Have to Be a Tech Pro and an Expert in Your NicheBoth are not true.
You don’t need to know how to write different computer languages before you can be an affiliate marketer. There are stay-at-home moms and dads, students, professionals, and random people who are affiliate marketers. They don’t sit to write pages of computer code. What they write is helpful and great content.
With WordPress and Blogger, people create blogs easily and choose the plans and themes they like. With some time, you will learn these easily.
Also, you don’t need to be an expert in your niche. On the internet, an expert is not necessarily a Harvard professor; it may just be someone who has written a lot of well researched and insightful content in a niche.
Affiliate marketing gives everybody the same opportunity. As long as you can create helpful and unique content, you will establish a nice reputation in your niche.
To develop yourself, you can do more research and seek an expert opinion. You can also link to well-established websites in your niche.
You can write an ebook, provide YouTube videos, and even start a podcast around the niche.
To sum up…
Affiliate is a profitable online business and not a get-rich-quick scheme. Just like a normal business, you have to grow it organically with time and attention. Focus on building a brand by creating highly helpful content.
You will make money in affiliate marketing if you put in the work. Focus on high-quality traffic generation and building an email list.