Is affiliate marketing worth it, or should you focus on other ways to make money?
It’s enough to make you go crazy with all the myths, bad news, good news, and sometimes outright lies. In reality, only you can decide if affiliate marketing is a good business model for you and your company.
You’re going to have to ask yourself some tough questions, and the only way to find the answers is to do some research and snoop around.
What are you really trying to find?
This article will teach you more about that.
You’ll learn how to decide if it’s worth it to be an affiliate marketer in general and if affiliate sales are worth it for a certain product or service.
Let’s jump in.
When Is Affiliate Marketing Worth Doing?
Despite some claims to the contrary, affiliate marketing still generates thousands of dollars each month for marketers and bloggers.
It’s sometimes a good idea to become an affiliate partner. Let’s look at why and when it’s a good idea to be an affiliate marketer.
When You Have Personal Experience With The Product
Even though it’s not necessary, if you’ve used the product you’re promoting as an affiliate, it will help you in the following ways:
- You know how good the product or service is because you bought it or got a free copy to review.
- When you own the product, you don’t have to look up what other people think about it. You can give your own opinion and list the pros and cons.
- It’s a good way to market yourself and makes you look more trustworthy.
- You can put the product through a case study and write down what you find.
- You can make unboxing videos so that your reviews are more accurate.
- If you own the product or have access to it, you can talk to the owner and ask them questions about specific problems.
- When you buy a product, you often get access to a private Facebook group with hundreds of other people who have also bought the product. This lets you see what other real users think about the product, which gives you even more information about it.
You Have Experience With Affiliate Marketing
Having experience with affiliate marketing will help you start campaigns that do well and put you in a good position to make money from promoting the product.
If you’re new to being an affiliate, you’ll need to learn the basics and figure out what works. If you don’t, you’ll probably fail.
It’s not too hard to understand, but it does take time. You should ask yourself if you have the time to learn the strategies because many people are too busy.
As an affiliate marketer, going all out with no experience is a surefire way to lose money and fail.
When You Have Good Traffic Numbers
This one is pretty clear. If you want to make money with your affiliate links, the more traffic you get or the bigger your audience, the easier it will be.
If you have a steady flow of traffic, it will be easier for you to start an affiliate marketing business that does well. If you don’t, you’ll have to use other methods, which usually take time and money, to get people to see your affiliate offers.
Affiliate marketing can be very profitable and is often worth doing if you get a lot of traffic or have an active following on social media.
When You Have An Email List
You may have heard the saying, “The money is in the email list.” Even though it’s been said a lot, it’s still 100% true today.
If you have an active and responsive email list, you’re in a great position to sell affiliate products to your email subscribers. Email marketing is a good way for affiliates to earn commission.
HubSpot says that email engagement has gone up by 78% in the last year for marketers.
Email is still alive and well!
Complimenting Your Own Product With The Product You’re Promoting
When you sell your own products or services, it can be very profitable to use affiliate products that go well with what you’re selling.
Affiliate marketing is almost always a good idea if you can find a product that is similar to yours but still different.
Just make sure that the product you’re selling will help the people you want to reach.
High Earnings Per Click
Earnings per click (EPC) is an important piece of information that can help you decide if it’s worth it for your affiliate marketing business to promote a certain product.
This metric tells you how much you can make on average every time someone clicks on your affiliate link. It’s a very important number for affiliate marketing campaigns that use paid traffic methods like Facebook ads.
To figure out EPC, you divide the commission you get from a product by the number of times your affiliate link was clicked on.
Usually (but not always), the higher the EPC, the more you should think about promoting the product.
Pros And Cons Of Affiliate Marketing
What Is The Success Rate Of Affiliate Marketing?
Affiliate marketing is a great way to run a business, but you have to do it right. It is estimated that 5% of affiliate marketing campaigns are successful, according to Entrepreneurs Unstuck. Consequently, 95% of affiliate programs fail.
Don’t let this stop you, though, because many of the reasons why they failed were because they did things wrong or didn’t have a good plan.
Affiliate Marketing Statistics
Before we wrap up, I want to share a few interesting stats about affiliate marketing.
Here they are:
- In the US, 80 percent of brands have affiliate programs. (Source: Mediakix.)
- Affiliate programs in the fashion industry account for 18.7% of all affiliate programs. (Source: AM Navigator.)
- It is estimated that 85% of online shoppers read reviews on Google before making a purchase. (Source: Kenshoo.)
- It is predicted that affiliate products will generate 8.6 billion dollars by 2022. (Source: Statista.)
- In terms of affiliate marketing, 40% of marketers feel it is a crucial skill. (Source: Bloggingx)
- Approximately 5 billion dollars are estimated to be generated by affiliate marketing in the US. (Source: Call Hippo)
- Over 100,000 marketers and sellers are partnered with Clickbank. (Source: Clickbank.)
- Over 5 billion affiliate commissions have been paid out by Clickbank. (Source: Clickbank)
- CJ Affiliates and other affiliate marketplaces outperform each other by double-digits. (Source: CJ.com.)
- There is a commission rate of 1-10% for Amazon Associates. (Source: Amazon.)
- What is Affiliate Marketing? What exactly does an affiliate marketer do?
- Affiliate Marketing Lessons I Should Have Learnt Earlier
- Best Affiliate Marketing Forums On The Internet To Join
- Affiliate Marketing What do you want to Know
- Top High Ticket Affiliate Programs: What Is High Ticket Affiliate Marketing?
Conclusion: Is Affiliate Marketing Worth It 2024
If you’ve read this article, you should have a better idea of whether or not affiliate marketing and the money you spend on it are worth it.
You should also know what the pros and cons of becoming an affiliate are and why you shouldn’t do it.
In the end, it’s up to you.
As an affiliate, you can sometimes make a lot of money, but you need to make sure your heart is in it and that the products or services you promote are helpful and right for your audience.
If you can answer these questions, you might do well.
It won’t be easy or too hard, but you do need to set up your campaigns correctly and take your time.
When you next wonder, “Is affiliate marketing worth it?”
Also, think about whether or not you can offer your audience products that will really help them.
If you can, then almost certainly, affiliate marketing is something you should do