If you want to make money as a marketer, then you really have two main options. One is to create a product and to sell that.
The other is to sell an affiliate product.
Neither of these is the ‘right’ option. The right option will instead depends on what niche you’re in, what you enjoy doing, what you’re capable of doing and more.
So, let’s take a look at the pros and cons of each.
With a digital product, you of course have the advantage of keeping 100% of the profit. You also have the freedom and control to market your product however you like and even to edit it and alter it if you so wish.
This also makes it easier for you to create a strong brand – if someone has enjoyed one of your products, there’s a good chance they’ll be interested in buying more from you in the future.
But then of course that means you’ll also need to actually create that product. This in turn means you need to invest a lot of time and effort – or money if you plan on outsourcing – into the creation of that product.
And what that means is that you can potentially end up out of pocket. If you invest lots of time and money into a product that then ends up not selling, you’ll have lost money.
There are ways you can ‘validate’ a product to ensure there’s an audience for it, but ultimately you will always be taking a gamble.
On the other hand, if you choose an affiliate product that is already making lots of sales, then you’ll know for sure that it can sell. All that’s left is finding the right audience. In some cases, even the marketing materials will be prepared for you!
In terms of profit, affiliate products still offer very high commission – up to 75% in some cases. If you pick a more expensive item then, or sell multiple items, you can make just as much money as you can from having your own product.
There’s no right answer then but remember: you don’t have to choose. Why not start with an affiliate product and use that to fund a digital product of your own?
Or better yet, why not use affiliate products to learn what works and what doesn’t, and then use that to help design the perfect product of your own!
Benefits of Starting with Affiliate Marketing
A lot of people have benefited from affiliate marketing since its invention in the early 1990s. It’s considered to be an effective method of earning an income online, and one that is ‘passive’ so your contribution can be minimized while still producing maximum results.
While we know what affiliate marketing is, what are some of the benefits of opting for affiliate marketing as a primary or secondary career option?
While almost everything comes with risks in today’s world, there are also quite a few benefits that might outweigh them.
Here are a few:
- Minimal Expertise Required:
While almost any other career choice in the world would require you to have some prior knowledge or education in it, affiliate marketing is one of those where you don’t need to be a know-it-all on the subject.
You can learn along the way, but it’s one of those fields that puts the term ‘practice makes perfect’ into use.
There are multiple available methodologies and strategies to follow online on how to make affiliate marketing work for you. You can choose the one you resonate with most, or whichever works best for you and go with it.
It’s merely a trial-and-error based line of work.
If you’re already an existing blogger or content creator, you can benefit even more by partnering with a business to be an affiliate marketer!
- You don’t need a lot of money to start it:
While many people shy away from venturing into new waters when it comes to changing career paths or finding a new one due to financial constraints or money problems, affiliate marketing is not the same.
It is a fairly low-cost business opportunity, and nothing is stopping you from joining it.
You don’t need a lot of resources to get started with affiliate marketing compared to other business ventures. All you need is to have access to the internet!
If you’re tech-savvy, that might give you an upper hand in the game, but it’s not essentially a requirement.
Similarly, if you’re an existing blogger or content creator on the internet, you might have a head-start, but a lot of people have still made it reasonably well without either of these two skills.
- It’s a Wide Industry:
Affiliate marketing as an industry is one with a lot of depth and width to it. It’s pretty far-reaching and profitable, and one which can have over a billion-dollar’s worth in it.
Since it’s a vast field, searching for products or services you understand well and see yourself working with is fairly easy to do, and one that will allow you to understand the whole thing better.
Because you can make your own choices, you can maintain your honesty and sincerity, which comes with it, which would probably help earn the trust of your customers faster. Commission-wise, it’s been proven that those people who show the most belief and interest in their products are the ones that tend to be more successful than their counterparts.
- Flexibility and Freedom come with it:
No matter whether your approach at affiliate marketing is for a secondary means of income or primary means of income, it comes with freedom, independence and flexibility. Unlike any other ordinary job, affiliate marketing lets you make a few decisions on your own, like choosing your schedule and when you want to work.
Similarly, you can take your off days and even decide who you want to partner or work with. The environment and timetable you choose can be to your comfort so you can maximize and optimize your productivity.
- You can use it as a Secondary Source of Income:
Affiliate Marketing doesn’t have to be the only way for you to make money. If you already have a job and don’t want to quit it, but still need some extra cash on the side, affiliate marketing may be the best option for you! You can use it to make money on the side without any pressure of making it big right at the start since you already have an income supporting you.
This means you can be much more relaxed with your venture and can take time to figure out the method and strategy that works best for you.
However, if you do choose to make it your primary source of income, it could very well be one and can make you money faster than looking for a job.
These are just a few benefits of affiliate marketing. Of course, since the market is so wide, the benefits that come with it can be just as vast.
Even though there are risks involved, the advantages could work to outweigh them.