I remember asking this question nearly 7 years ago when I first started working online: is affiliate marketing dead?
To be honest, this is a very legitimate question. Who wants to put in thousands of hours of work and invest huge amounts of money if there will be no payout?
So, I was very scared to take online business seriously because it could have had huge consequences in my life.
Fast forward to today, I’m making more than enough money to sustain my family and to go on vacations anytime I want.
Well … hopefully after this virus disappears I will be able to do that again.
If you’ve been dabbling in the online space in the past year or so, you probably saw how Amazon decided to cut the affiliate commissions so much, that a lot of people decided to abandon their Amazon affiliate websites.
So yeah, asking whether or not affiliate marketing is dead is a pretty legitimate question.
So, let’s go ahead and answer it.
Affiliate Marketing Is NOT Dead
The internet is growing more and more every year, so it would make sense that affiliate marketing will grow as well. More and more jobs are disappearing because of advancements in technology, so more and more people are looking into working from home.
It would be a good idea to analyze affiliate marketing a bit more. After that, we will see how you can start making money using it.
Is Affiliate Marketing Dead?
This business model is more than 30 years old. In the beginning, it was much easier to make money with affiliate marketing than it is today.
Why? Because as you can imagine, the competition was virtually non existent.
As with any other market, the more competition there is, the more difficult it is to make money (duh).
In order to be successful in marketing (and in anything for that matter) you need to “be like water” how a great man once said.
You need to adapt to the new circumstances. In this case, those circumstances will be the laws of your country, as well as the terms and conditions of the affiliate network whose product you’re trying to promote.
I’m sure you notice how big YouTube became. Video became one of the most popular ways to consume content.
In order to take advantage of that, you could jump in and position yourself in front of an audience that’s already there. You could be into anything.
Even reaction videos get a lot of views on YouTube. And if you think about it, you’re watching a guy on YouTube whose watching another guy on YouTube. Crazy.
This article on Inc.com states that most brands use affiliate marketing. In fact, some of them get more than 25% of their income from affiliate marketing. So they will very likely keep their affiliate programs alive.
So, affiliate marketing is not dead. But what about the tactics that used to work a couple of years ago? Like spamming your link everywhere. Or scamming people without facing any consequences?
Those tactics have died. So in order to start making money in 2020 and beyond, you need to try more sustainable and ethical strategies.
Why Most Fail In Affiliate Marketing
More than 90% of people who try making money with this business model fail. Why is that?
Let’s have a look at a couple of reasons:
- They give up to easy. This is arguably the most common reason why so many people don’t make any money with affiliate marketing. Maybe they try something like blogging, write a couple of articles and then they just wait. But after a couple of months they give up because the traffic is not coming. They don’t understood that SEO takes time and they just give up. Or maybe they try something more fast like Facebook ads. They think they will make instant money, but when their first campaign is not profitable, they say it’s a scam and they give up. I am guilty of this too. First time I invested some money in ads I lost it and I gave up for about a year. Why? Because I thought Zuckerberg is trying to scam me.
- They are in it only for the money: Of course we all want to make a lot of money and have passive income. That’s why you don’t want to have a job in the first place. To not be a corporate slave. But we must understand that online marketers are not like bus drivers or prostitutes. We can’t just put in the minimum amount of work like in a job. If you focus on providing value to others, there is no way you won’t make money.
- They don’t develop a strategy: The good old shiny object syndrome. Your biggest enemy. In my opinion, every beginner who’se trying to make money online is going through this. They just start with one thing like sales funnels or SEO, and then they hear a guru say that you can make 10k/month with YouTube ads in less than 30 days or something. So they try to do that until the next thing appears. We are all guilty of this. If you stay focused on one thing and don’t get too distracted by all the make money online noise, you have a much better chance of starting to make money.
There are hundreds of other reasons, but these are the main ones. At least in my opinion.
I am guilty of all of them to be honest. But I hope you will learn from my mistakes.
Getting Started With Affiliate Marketing
This thought can be very dauting and scary. Starting your online business. I know it was for me
Luckily there is a lot of good information out there. This wasn’t the case when I first started.
So with the right mindset and tactics, you can start seeing results. Maybe it will take 1 month. Maybe 1 year.
The important thing is to not give up and stick with it.
Now let’s have a look at what you need to do in order to start:
- The first thing you need to decide is how you’re going to get the traffic . Whatever it is, you need to create content somehow. You can either start your own website, which is a very good option. Affilorama is a great course that will teach you how to do that. The second option that I’m familiar with and that I like the most is to run Facebook ads. There are a bunch of courses that teach you how to do this. I reviewed some very good ones on this blog like Commission Hero, Super Affiliate System, 1K A Day Fast Track, 12 Minute Affiliate System or Clickbank University. These are all courses that I recommend.
- The next thing you need to decide is which niche you’re going to get into. The most popular ones are health, make money online and relationships. Why? Because everyone wants to look better, make more money and get more girls. These niches cater to everyone on the planet. The problem is that they can be quite competitive. I myself have had success in all of them and I’m not very smart. So you don’t need to get scared of a little competition. However, you can literally make money in any niche. One of my friends has a blog about office chairs and he’s making more than 50k/month. Another friend of mine is promoting woodworking products with Facebook ads and he’s making almost 100k/month. So you can make it work in any market if you work hard enough.
- The next step is to decide which products you’re going to promote. How many good products are there in your niche? What are their prices? What is the commission rate? Of course it’s better to promote products that you already use, because it’s much easier to sell them. Because you already know everything about it. However, this is not mandatory. I have another friend that is promoting cremes for skincare and he never even used them.
Final thoughts On Affiliate Marketing
Affiliate marketing is alive and well and will continue to be so until the internet crashes. Which probably will not be anytime soon.
If you’re thinking of starting an online business, affiliate marketing is one of the best ways to do so.
Just remember to not give up. So many smart people fail because they have no patience.
Their expectations are so high because of these fake gurus. But that’s really not an excuse.
Just keep working consistently every day and you will make it. It’s the same with anything in life.
Also, don’t get distracted. Whatever you choose, just stick with it. I guarantee you everything works. SEO, Facebook ads, YouTube ads, sales funnels …
Everything works if you’re consistent.
If you want to learn more, check out some of my other articles. I hope that helps.