You may not hear as much about affiliate marketing, especially in more recent years. And if you have, it was probably the news that Amazon cut commission rates by more than 50% on some product ranges, including home improvement and health and personal care, amongst others.
This news of these commission cuts hit back in April 2020. However, this was a red flag for many keen entrepreneurs that perhaps the days of affiliate marketing were over.
Taking this news into account, this article will discuss affiliate marketing, mainly what it is and whether or not it’s worth starting for your business.
What is affiliate marketing?
Affiliate marketing is where a website owner, blogger, etc. advertises other people’s products in exchange for a commission on any directed sales from their website. For example, if you were to own a sports blog and referred customers to Amazon to look at sporting goods, you would earn a percentage-based commission dependant on the purchased products.
Mainly, affiliate marketing is great for those not selling a physical product, whether waiting to release one in the future or using affiliate marketing as their sole product sales. This is beneficial for several reasons, but mainly boils down to the little effort and work required once the post or products are advertised on a website or blog.
Is this marketing method dead?
Despite the commission cuts from the leading affiliate partner, Amazon, affiliate marketing is very much not dead. Many businesses and bloggers still make profitable living advertising products listed on Amazon and other e-commerce sites.
Nonetheless, to be a successful affiliate marketer, you need basic SEO knowledge, expertise in a given industry (ideally), patience, and the drive to succeed. Although it sounds cliche, affiliate marketing success will not happen overnight; it may take months or even years until you make your first substantial paycheque.
Is it worth starting?
If you have the time to write SEO-focused posts, then we highly recommend giving it a go. Although the rewards take time to manifest, efforts often compound and appear in one go.
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