Networking is an integral part of today’s dynamic and ever evolving society. You get out there and make your presence noticed and eventually grow. This is easier said than done. Getting noticed is the most essential aspect of networking or marketing. So, to get out there and reach out everybody is not a child’s play. You need to strategize and use your skills wisely in order to attract the maximum number of viewers as possible. The more you get noticed, the more the chances of you getting acknowledged and appreciated. Thus, it makes it all the more essential to attract the right kind of people who influence your business and your growth in the right direction. Here affiliate marketing comes into play. We need to support or get support from the players already established in the desired sector. For instance for vloggers, an already successful vlogger could definitely refer a beginner to make its ground. This has evolved into an entire branch of marketing, affiliate marketing, which has grown into a money minting machine.
Many have capitalized on this form of marketing. A number of people are making 6 figures monthly through full time affiliate marketing. It is highly competitive, though. You have to really invest in being an affiliate marketer to reach to the top. You don’t have to create your own product and you don’t have to try to be a part of the sales processes at all. It is extremely attractive to a lot of people. For instance of you look at creating your own product vs affiliate marketing, regarding the search volume, affiliate is going to win this one. It is being searched by at least 10% more people. Creating your product is harder. But only a minority section of people share their secrets and tips with you on their affiliate marketing journey. As this is going to drive up the competition and hence, drive down the profits that they make. Infact, many people have lost their vlogs by sharing too much information about what they were doing and how did they do it. This is why you won’t find many people explaining the concept in-depth on how to sell the affiliate marketing. That’s why many bloggers use it to supplement their income. They carry it along with their major work, which might be creating their own product, which has affiliate marketing associated with it in some manner.
The reason many bloggers succeed in making great incomes out of affiliate marketing is that they sell either their own products or sell other products at a higher price. You need to promote high prices products in order to reach great standards. You won’t get a 6 figure income with Amazon associates program selling eBooks. If you are selling cameras, treadmills or really expensive beauty products and face creams and things like that, then you can hope to get a good income. People at the top who are making good money are basically relying on
- Promoting courses that are expensive
- Marketing expensive equipments like drones, professional grade cameras etc.
- Reviewing expensive services
The volume of sales with low priced products is not going to fetch you that good an income as a small volume of high priced products.
Now for big affiliate marketing, your niche matters. For instance, health and wellness industry might have a large volume of people, although, the profits might not be that good. It lies in the average priced product range. In order to gain higher profits from this, one needs to pitch in for it continuously and throughout their life, promote it extensively. So, it is better to create your own product as the profit is all yours.
Thus, we can say that affiliate marketing teaches you how to sell. You need to start slow and then grow out. You build up your network and understand how to sell with small margins of profit and then gradually get the hold of it. You can also understand a particular product, improvise and eventually start making and selling your own to make better profits. As you enter the market, you realise the requirements and start to observe the needs of the industry which gives you insight and helps you achieve more with your affiliate marketing.
There’s a huge risk when you consider affiliate marketing. Let’s say you make 85% of your income through an affiliate product. This is usually the case with many bloggers/vloggers. If you consider dropping it and move onto another good product, then your income from the previous product gets immediately cut off. So, you are left stranded if you don’t have any other source of income. Hence, affiliate marketing is better considered as a supplementary source of income. This doesn’t mean that you can’t go into it completely. It’s just for your consideration that you need to keep at the back of your mind. You need to partner with someone you trust and one who won’t pull the plug overnight on you. You just need to be aware and tread with caution when you decide to promote an affiliate product.
The sales process is similar to that of other digital products. If you are able to sell an affiliate product successfully then you can sell your own. As selling is all about building a good rapport with your client. You need to have a great relationship, mostly professional, in order to have them place their trust in you with their product. And relationships are not built in a day. You need to assure them that level of intrigue and arouse curiosity, then follow up with their work and progress. This increases the relationship level or the strength of the relationship with time and eventually you close in on the deal. Selling digital products and services is the major source of income of a majority of vloggers and bloggers. Any product offered by a brand, channel or company that you trust or have been associated with will automatically call for your attention and hence build up your relationship further deep into that particular company. So, you’ll definitely invest in any product that the company offers. You identify the traits and grow fondness for the company, channel or brand.