Affiliate marketing is the process of recommending a product online. When someone makes a purchase as a result, the person who suggested it gets a share of the profit. This can be extremely lucrative, particularly if you already have a following online or a successful website.
However, there is a lot of conflicting and false information about the process. Below, we give three misconceptions about affiliate marketing.
It Is Quick and Easy
For many people, affiliate marketing sounds like a golden ticket. You can work from home and earn money just by recommending products. Yet to get to a stage where it is worthwhile, affiliate marketing takes a lot of time and effort.
You won't get results overnight and creating the content to promote your offerings takes a lot of time. If you want to do it, then get yourself set up to cover yourself financially for the next few months as you build your methods in which to market products.
You Don’t Need Technical Knowledge
There are two main ways you can affiliate market. The first is primarily through social media, covered in the next section. The second is through an existing website or blog. In some cases, you may be able to do a hybrid of both.
Of course, to be successful with a website or blog method you need to have these running. If you don’t have one that is getting good amounts of traffic, then it probably isn’t going to work. For this, you need to understand search engine optimisation and how to get organic traffic to your website.
The type of website also matters. For example, many sites may sort out the best prices or offers from a range of providers, including everything from insurance to flights. One of the most popular is Bonusfinder US, which organises the best casino bonuses available to people living in US states. As it is getting people the best deal, it is adding something of value, and they have a reason to visit the site. But this does not come without a huge amount of effort, involving creating content and managing SEO.
You can also do this by writing reviews if you have a blog. However, unless it is a review-only site you may want to keep these minimal. For example, if you have a place that includes keto recipes, don’t suddenly turn to just reviewing kitchen products from major brands like Tefal and Smeg. Instead, keep a ratio of say 3 recipes to 1 review.
You Need a Large Social Media Presence
One of the biggest misconceptions about affiliate marketing is that you need a huge following on social media to be successful. You don’t. You can go out and buy a million followers for TikTok or Instagram but none of them will buy your recommended product. Instead, you need people who trust your word. These people who have small but dedicated followers are often known as micro-influencers.
This comes from knowing your niche. For example, if you are an avid ice climber your antics and posts are not going to appeal to millions. Yet the few that are interested are probably more likely to invest in products you recommend, as they see you as an authority. It is better to have 10 followers who will spend money on your links, than 1 million who spend nothing.
