Start Affiliate Marketing Business - 6 Crucial Things You Need To Consider Before You Start
Affiliate marketing is a growing market with over $17 billion as of 2023. And by 2027, affiliate marketing industry is predicted to be worth $27.78 billion.
And the future of affiliate marketing will continue to grown and evolve with AI technology.
And one area of the affiliate marketing trend is growing rapidly is with video content.
Studies have shown that 72% of people wanting to learn about a product or service would rather watch a video than read an article.
And of those who watched a video, about 88% have bought a product or service.
And 96% of consumers have watched an explainer video for learning info about a product or service.
Amazon Associates is the largest affiliate marketing network with over 900,000 active affiliates. (statista)
Spending on affiliate marketing makes up 16% of all online orders. (EcommerceCEO)
No wonder why many people want to get in on this opportunity in order to get a slice of the huge pie.
I’m guessing you probably have already read a lot of information to start affiliate marketing business.
And you might have been told how easy it is to make lots of money.
However, statistics have shown that 95% of affiliate fail to make profits.
I am not telling you this in order to discourage you, but rather I want to reveal to you the potential pitfalls when trying to success as an affiliate.
Start Affiliate Marketing Business - Disadvantages
To really be successful I want to show you the crucial elements you need to be profitable as an affiliate.
1. First, you need to choose the right niche and products.
This can be harder than you think.
There are millions of products and services out there and you can get lost trying to figure out which ones to market.
Many people get confused and unable to know which products are good and which ones are crap.
I would recommend choosing an evergreen niche, which are niches that stand the test of time.
Some of the evergreen niches that have always done well are: health, pets, making money, and finding romance.
Then in each niche there are many sub niches:
For Example with health niche there are many targeted sub niches such as, weight loss programs, anti-aging, alternative medicines, sleep disorders, diabetes, back and neck pain, and skin problems.
Of course there are many sub niches under health but these are a few popular ones that have done well.
Also, you will want to choose a niche that you have a real interest in or have some knowledge about. If you merely choose a niche to try and make money and not really interested in the subject, it will be harder for you to build success.
And once you choose your niche, you will need to come up with a lot of low competitive keywords.
If you simply choose top keywords that have thousands of views there will be too much competition. You won't be able to compete with the big dogs out there who dominate those keywords rankings.
2. You need to realize that it isn’t quick profits.
Many newbies becoming an affiliate believe it is a fast way to make money online.
Don’t expect $10,000 per month in the first 2 or 3 months. It is likely that you might not make any profits, or perhaps earn very small profits in the first few months. That’s when most people give up.
Success can depend on the amount of money you have to invest. If you have a lot of money to spend on marketing you possibly have a quicker path to success.
However, that being said, if you don’t know what you are doing and simply start throwing money into all kinds of marketing...you might lose all your money.
If you have a good mentor or program to help guide you, then you have a much better opportunity to build a successful affiliate business.
Persistency and patience are some of the key traits you need to succeed in this business.
3. It is imperative that you setup an email autoresponder so you can collect emails and follow up with subscribers. Check Out My Review On Email Autoresponders
Nearly every successful affiliate marketer I know has a good sized email list.
And then most importantly you need to get traffic to have people opt in so you can build your email subscriber list.
There are many sources of free and paid traffic.
In the past I tried Google Ads, Bing Ads, Facebook and the truth is those are very difficult, expensive, and risky unless you really know what you are doing.
4. I recommend you create videos for YouTube as statistics have shown earlier in this article that 88% of people have purchased a product or service by watching a video.
5. To Start Affiliate Marketing Business You Have To Spend Time To Do The Work.
You can’t simply paste an affiliate link and post it on a website and think you will immediately get a bunch of sales.
Affiliate marketing is more than just copying and pasting affiliate links. It entails more effort than you think.
There are some overhyped products selling for under $20 that state once you purchase their incredible software you will be able to generate thousands of visitors and earn $500 per day or more. Don't believe that b.s.!
To build an affiliate business to support you on a full-time basis will require some computer skills, planning, and consistent effort.
6. Start affiliate marketing business will also require some capital to get started.
There are some free resources out there, but to build an affiliate business right you need to invest in the right tools.
You will want to purchase a domain name, hosting account, and email autoresponder to get started.
And to get started creating videos you will need to purchase a video creator/editor such as Pictory. I have used Pictory and it is the easiest way to create videos.
Pictory can be used to create faceless videos and use AI voice over if you do not want to be on camera.
However, if you would like to record your own videos and be on camera then you will have to invest in a good camera, tripod, microphone, and good lighting.
And if you want to get leads to grow your email list you can purchase quality leads.
There are several lead programs I have used that have produced good results with. The key is to make sure you have a series of follow up autoresponders.
Most of the time, people who opted into your list won't purchase right away. It sometimes takes 6 or 7 follow up emails before they consider buying from you.
If you want to purchase leads, feel free to contact me and I can direct you to quality targeted leads.