Affiliate marketing is a great way to earn money from home, but there are some things you need to know before you get started. If you start an affiliate marketing company with these seven important false beliefs and expectations, they will hinder your progress and make it harder for you to succeed as an affiliate marketer.
1. Affiliate marketing is easy
In the beginning, you will be successful. You’ll have a lot of ideas, and many of them will work out. But as time passes, it’ll become more difficult to come up with something that generates a profit in a way that feels natural and easy. Affiliate marketing requires hard work. You need to know about marketing, you need to know about promoting products online or on social media, and you also need patience (and persistence).
The most important thing is that you never give up!
2. The affiliate market is a get-rich-quick scheme
Affiliate marketing is not a get-rich-quick scheme. It takes time and effort to build a business, and there are no shortcuts.
Yes, you can earn money with affiliate marketing – but it’s important to remember that this isn’t some magic formula that will make you rich overnight.
The truth is that affiliate marketing takes hard work, just like any other type of business (and sometimes more). You have to spend time building up your audience and finding the right products to promote if you want to succeed in this field. There are no guarantees when it comes to affiliate marketing-nothing is guaranteed!
3. More products mean more money
No one becomes an affiliate marketer because they want to spend their time doing the same thing, over and over again.
They become one because they want to make more money. They want to earn more than they do now, or even get away from the 9-to-5 grind altogether.
Affiliate marketing is a multi-faceted business model that gives you the opportunity to build your own brand and pursue passive income streams—but only once you’ve built a solid foundation of knowledge and experience in internet marketing.
4. Popularity on social media is a decisive factor
Social media is a powerful tool for promotion. It’s a great way to get your name out there, build an audience, and build your following. If you’re actively engaged in social media and have built up trust with your followers, they’ll be more likely to buy whatever it is you’re selling. People are also more likely to share things that they find interesting or funny on social media than they would if they saw them elsewhere (like on the front page of Google).
So if you want people to find out about stuff related to what you’re promoting—whether it’s the affiliate offers or otherwise—it makes sense that investing time and effort into building up an audience is worth it!
5. A higher commission rate translates to more revenue
If you’re new to the affiliate marketing world, you may be wondering what “higher commission rates” actually mean. In a nutshell, it’s how much of the purchase price the affiliate gets for every sale they bring in.
For example, if you’re selling jeans and your commission rate is 20%, then for every pair of jeans someone buys from your link or site, you’ll get $20. On its own, that sounds like a lot of money—and it is! But there are some caveats:
- Higher commissions can also mean fewer conversions (i.e., fewer sales) because people will be more likely to do their own research before making purchases instead of simply trusting what’s written on your website or blog post about any given product being sold. This doesn’t mean that higher commissions are bad; it just means that they come with tradeoffs—namely more competition and more work required on behalf of both parties involved (affiliate and merchant).
6. Traffic equals profit
You’ve probably heard people say that if you have enough traffic, you’ll make money. This is a myth. Traffic and profit are not the same things—traffic is just one of the many factors that affect your overall profit.
It’s not easy to get traffic, and it isn’t cheap either. Traffic is also not sustainable, meaning that if your traffic dries up tomorrow (or even later today), then your earnings will drop as well. Finally, there are no guarantees that getting more traffic will actually result in more sales or conversions (which is why so many affiliate marketers fail).
7. Affiliate marketing is expensive to start
If you’re wondering if affiliate marketing is a scam, you might be surprised to learn that it’s not. Affiliate marketing is simply a way for brands and individuals to collaborate, and if done right, both parties can benefit greatly from the partnership. However, while affiliate marketing can certainly be lucrative, it requires time and effort. If you’re looking for a get-rich-quick scheme, then affiliate marketing may not be for you anyway!
These are 7 false beliefs when it comes to affiliate marketing.
Most people believe affiliate marketing is a get-rich-quick scheme and all they need to do is sign up for an affiliate program and they’ll be making thousands of dollars in no time. This couldn’t be further from the truth. If you want to make money with affiliate marketing, you have to work hard at it.
Affiliate marketing isn’t easy. You’ll need to learn more about product promotion before you can start making money online with it.
Do more products mean more money? Not necessarily! Having ten or twenty different products doesn’t mean that you’ll be earning more than someone who has five or six different ones. Instead of focusing on increasing your inventory, focus on creating valuable content that attracts visitors and then converting them into customers later on down the line (which will help increase sales).
If you’ve been in affiliate marketing for a while, then it’s likely that you know these myths aren’t true. However, if you are new to the industry or considering becoming an affiliate marketer, it is important to understand these misconceptions before starting out. It will save time and money when setting up your business and help avoid making costly mistakes along the way.
About Bloomclicks.com Marketplace
Interested in learning more about how to get started in affiliate marketing or build out your program to maximize sales and revenue? Join the bloomclicks.com Marketplace to help monetize your content and social channel seamlessly.
Bloomclicks Marketplace allows you to connect with top brands that match your readers’ and viewers’ preferences, creating an effective blend between your content, social channel and the products you promote. Our automation tools allow you to own your partnerships and continue building deeper relationships with brands and your audience.