19 Benefits of Affiliate Marketing: Your Next Side Hustle
For businesses, it is quite tough to grow their business and spend much more money. However, affiliate marketing can change your thoughts.
If you’re a business owner or job hunter you need to know the benefits of affiliate marketing and then decide should you drive into it or not.
Let’s have a thought process before going to the advantages of affiliate marketing:
Those who are entrepreneurs out there are always thinking about how to further grow their business or expand the stream of their income sources. While thinking about stuff like these, one might consider starting a whole new second-business type of thing.
If he/she is actually able to initiate another business with a view to increasing income level, then what’s the problem with it? Well, it’s really not something that you should pursue because clearly, you are not able to keep your first business in a satisfactory state, how do you even start another one and maintain that with sufficient effectiveness?
However, instead of beginning a second business, what you can do to actually put yourself in a very beneficial state is doing affiliate marketing.
It’s expected that by doing affiliate marketing effectively, not only can you find ways to complement and grow your current existing business but also offer more value to the customers and followers.
Unless you already have been doing affiliate marketing, it’s time to put this into your consideration, because you are missing out on so many advantages of this profitable revenue stream.
What is Affiliate Marketing?
Affiliate marketing is one of the most profit-friendly online marketing techniques. What happens here is like- a person who already owns a business and sells a particular type of product to a particular customer demographic, lets another entity(affiliates) target that same demographic as customers and thus earn some extra income.
Affiliate marketing won’t need too much hassle because you already have a customer segmentation to share with your affiliates and you just need to recommend some products to others, you don’t need to actually produce them.
Suppose that you have a blog with a large reader-base, or a social media platform, or maybe even a website.
As a part of being involved in an affiliate marketing deal, what you need to do is to share the product or service of your affiliate’s on your blog or site as a reference So that your reader or fan base can get to know about those products or services and use them.
Of course, you are going to provide a unique link once you recommend a product in your blog. Remember that each time a person will be making a purchase through that link, you will earn a commission.
If you can show proficiency in the field, you can be sure of the fact that this performance-based opportunity will increase your income to a great extent and become a significant part of your business.
How Does Affiliate Marketing Work
There are five simple steps that you will be needing to follow:
- Finding and joining an affiliate program
- Choosing the right offers to promote
- Obtaining a specific and unique affiliate link for each offer
- Sharing the links on your websites, blogs and social media platforms
- Collecting the commission that belongs to you each time someone uses that link to make a purchase
The rate of commission will obviously vary a lot, with experience, you might earn as much as 50% even though you might have to start with a flat 5% initially. Now let’s see the benefits of the affiliate marketing business.
What are the Benefits of Affiliate Marketing?
According to static, alone US affiliate marketing will reach 8.2 billion, and around it can be 12 billion Dollars in 2021. So, question why 73% of marchers believe that affiliate marketers can improve their sales? Ok! Let’s find out the reasons talk about the benefits of doing affiliate marketing and make a list:
Let’s get one by one:
Remember that affiliate marketing itself is already a billion-dollar industry. Since the industry is huge out there for affiliate marketing, it’s actually pretty easy to find products that really seem interesting to you and in which you actually believe.
Such types of products are always easy to promote or advertise, as long as you honestly think the product to be useful to the people.
And when your affiliate marketing involves products that can have your faith, then it’s more likely that your affiliate marketing will be successful, and commission-wise you will be getting the best outcome.
#2. Business Opportunity And Requires Low-Cost
It’s very common to a lot of people that they want to start new ventures but can’t really have the perfect opportunity because of the lack of capital required.
If you belong to these people, then affiliate marketing is something you can consider doing. Because it’s a venture that literally needs nothing other than electricity and internet connectivity.
Unlike other business ventures that people do, to initiate affiliate marketing, a person won’t need to have huge capital in the first place.
There are far fewer barriers to starting affiliate marketing compared to other ventures, so chances are there that it might be the best option for you to enter the business world as a marketer.
While the knowledge to build a blog or a website might be extra beneficial for you as an affiliate marketer, it’s not a must.
There are lots of examples out there, where people have successfully done affiliate marketing only using social media platforms, effectively. However, having a blog will be a bit helpful for you since you can promote your affiliate products using the blogs through ads or targeted content.
For the best result, it’s suggested to use both blogs and social media. After all, the more avenues you can explore, the more opportunities you can discover.
#5. Save Money
From a business perspective affiliate marketing reduces the cost of advertising. In addition, it is a more time-saving and better result-based marketing strategy.
The product owner will give a certain percentage of commission when the affiliates sell the product. Otherwise, owners are not bound to give money. The best benefits and takes the leverage of the affiliates are: they are doing marketing but if the product doesn’t sell still he gets the marketing promotion.
#4. Zero Risk Factor
No risk factor is involved in the affiliate marketing process. The vendor doesn’t need to give any money until they (marketer) can sell the choosable product or products.
Unlike PPC advertising, you have to give an advance payment before knowing how many results you will get and convert your profitable customer.
As a matter of fact, it is a win-win process to have some profit and you will have some commission when he can sell via his affiliate links.
#5. No Expertise Needed
The best benefits of affiliate marketing for students are: it doesn’t need any type of degree or you don’t need a Ph.D.
For the other types of business ventures, you have to have a basic knowledge at least to initiate, but for affiliate marketing, it’s not mandatory-at least not for the primary stage.
Affiliate marketing is a field of advertising, where you learn how to do it by actually doing it. The more practice you can do, the more perfection you can have. This is the side hustle way for the students and jobless people to join any affiliate program and start earning from there.
Also, you have the scope to explore different types of campaigns on your own, to figure out which are the ones appropriate for you and what learning method will be more effective to be better in the trade.
For instance, if you are a blogger, when you start to do affiliate marketing for the first time, you can simply choose to begin with writing optimized content that will attract more people. The more visitors you can have for your blog, the more possibility of finding the right kind of audience will be out there for you.
#6. Excellent as a Supplementary Source of Income
To start doing affiliate marketing, there is no necessity to end your current job or business that you have right now, rather you can use it to further grow your current business.
As for having a job, you can always do your affiliate marketing project without hampering your regular workload since you don’t need to totally indulge yourself in it. You can keep doing it just as a side project.
By the way, if you want to do affiliate marketing as your sole income resource, then of course you can put more effort and earn more.
Now we all know that how much a passive income source is helpful is always up for debate and argument. But still, affiliate marketing has so far been recommended well and it’s anticipated that once you learn to do it efficiently and put in the required hard work, you can actually earn from doing it.
#7. Offers You Convenience, Flexibility and Independence
Since it’s already a side hustle, of course, no one is going to supervise you and give you orders consistently, rather whatever you do, you are your own boss and you can do your job according to your own convenience. You are offered an abundance of flexibility.
Not only are you having a very easy schedule for your work, your work environment, but style-everything is also up to you.
Even there is no need to worry about any kind of after-sales customer concerns. You have the option to just pass it on to the affiliates’ own customer support team.
#8. Not Needed Specialized Marketing Kit
The whole procedure is actually a whole lot simpler, hardly there’s any complexity. To do affiliate marketing, no need to worry about your marketing kits, tools, or added promotional materials. What you need to do is just to get right on it and start earning right away.
#9. Limitless Techniques and Strategies to Choose from
No matter in which stage of affiliate marketing you are, you will always find multiple ways and alternatives of doing it. You can write blogs and promote a product with it. You can create online courses and then recommend your students to use a certain product. You can also do affiliate emailing as well.
Apart from these, there are other choices like creating a website dedicated to promoting your affiliates, or using social media platforms.
The best thing is that since there are so many resources online related to affiliate marketing, you can start from scratch and still expect to get an excellent result.
#10. Consumer Will Be Benefited
Consumers don’t trust a new product until it has been reviewed in it or hasn’t someone used the product before and publish any review article online.
The average 73% of USA people before buying a product they google about it and check the review article. After ensuring about the product then consumers make the decision to buy.
Consumers love to click that product link where they have read the review article. This is the most common physiological of the consumer. From the perspective of the consumer, they can read and watch one product review which someone has used and a better review. So, consumers don’t need to trust only the product or their own words.
#13. Anyone Do Affiliate Marketing From Anywhere
The interesting part is even if you are outside of the USA you can also do affiliate marketing by just joining any of the sides.
After that, take the affiliate link of that particular product and start your marking process. Some of the sides may have restored only the specific country’s people.
Otherwise, you can easily join an affiliate partner program without any hassle anywhere in the world.
#12. Affiliate Marketing Can a Sustainable Income
Affiliate marketing is the number 1 passive income generating method and one of the skills which people are becoming more interested in.
If affiliates give an honest review about the product. Basically, those who think about the people or consumer benefit and write in-depth articles or videos help to purchase the product and build a good and trusted audience. Then, you will definitely benefit from affiliate marketing.
Average good affiliate marketer earns from 4000$ – 10,0000$, it can be more depending on his/her product choice. Affiliate marketing is like a business, affiliate marketer can guess how much money he can get from that product or niche every month.
When one channel starts with it, another income process is included with it. However, if you create a website about a niche and after one year you want to sell you can do it easily. On how much money you can sell relies on how much you have earned through the year.
# 13. No Customer Services Needed
To do promote or affiliate marketing you don’t need to have customer service knowledge or to do training about the product.
As an affiliate, you are not the owner of the product and you are not giving the service, you are just recommending the best possible product which you feel is best.
Affiliates are not bound to give customer service. However, if you have any knowledge about how to solve their problem then you should do that.
Sometimes, some of the trusted people believe your product recommendation and purchase from your words. So, it is better to give some solution if they face any problem with your recommended products.
#14. Do Not Need Storage Space
Affiliates don’t need storage space to show various product models to do affiliate marketing. Affiliates can talk about various aspects of the recommended product or service.
In addition, affiliates should talk about only good things about the product rather than talk about both bad and good.
Showing multiple products pictures or videos is not mandatory to do affiliate marketing. So, They don’t need to worry about storage or hosting.
Benefits of Affiliate Marketing for Merchant
#15. Spread Your products
The merchants take the best benefits of using affiliate marketing as they can easily spread their products. It is becoming auto promoting without doing any paid advertising.
If ever, any of the affiliates do an affiliate marketing of your product and cannot generate any sales, he/she will not get any earning.
So, who has benefited from the affiliate marketing methods? Definitely the owner of the product. He has spent any money, spread his product around online, and gotten a better ranking of their product as affiliate marketer gives the 1 or 2 backlinks to their product or service. And get the boost of their website on Google.
#16. Perform- Based Commission
Affiliate marketing works in a performance-based commission system, the process is very simple. If the product or service sells via your link then you will get a certain amount of commission.
As affiliates, if you cannot sell any of the products or services, for sure you won’t get any earning from them.
#17. Ensure The Brand Awareness and Improve The Reputation
More affiliate marketers promote your brand or product and more brand awareness and reputation will be created. Companies spend millions of dollars on brand awareness to establish their reputation.
By doing affiliate program launches companies get extra more benefits without paying any money. If any popular affiliate marketer does your product affiliating definitely his audience will give additional focus to your brand or product or service.
So, companies can easily be lucrative from affiliate programs.
#18. Scale up your Website Traffic
Certainly, every website wants traffic or visitors, they know the more visitors they have there the more product will sell.
Most bloggers say, “ just give traffic or visitors I will earn money somehow”. So, the biggest advantage of the affiliate website is that they are getting automatic traffic to their website.
If a consumer goes to the product owner’s website and the consumer doesn’t buy the affiliate link provided product but the consumer can purchase other products isn’t it?
Google may give top page references and rank higher if you get regular traffic from other backlinks. The best thing is you can scale up traffic without doing any off-page SEO.
#19. Get The High ROI
A good product with a high-level managing team doesn’t give a better RIO for your business. Definitely, for solid RIO, needs to have good marketing strategies.
Affiliate marketing is the proven method to have a better high return on investment than the other prime marketing strategies.
The reason behind this is, consumers will know about your product or service from industry-related influencers who have already built a good chunk of audiences. It is guaranteed to get you more sales from affiliate marketers than the PPC ads.
Because In your PPC ads people don’t know anything about what you are selling and the million-dollar question is why they believe in your product or service. As they don’t know about you.
People love to buy some from a known face who can trust his/her words easily. So, to get a better High RIO it is better to choose affiliate marketing options.
Examples of Companies that did Affiliate Marketing
There are so many examples out there, let’s just consider here a few of them:
- Niche: Consumer Finance
- Goal: Helping people pick the best credit cards, loans, insurance etc.
- Key Challenge: Extremely competitive market
- Niche: Personal finance
- Goal: To assist ordinary people make better financial decisions
- Key Challenge: Providing ethical, accurate and updated financial information in a sector marked by self-serving interests
- The Wire Cutter
- Niche: Consumer product reviews
- Goal: To help people find the best product in every customer category
- Key Challenge: To craft innovative tests and select the best product possible, without being swayed by commercial interests.
Clearly, we have noticed that the list of the benefits of affiliate marketing and affiliate marketing is one of the best options for you in case you are in the search of a side income source. Moreover, of course, businesses can take the advantage of affiliate marketing easily to increase their sales via using affiliate marketers.