When we talk about affiliate marketing, it is important to point out two things. First, it’s a profitable platform for promoting products. Second, it requires less effort and investment than traditional marketing strategies.
Sounds pretty good, right?
It’s no surprise affiliate marketing enthusiasts often rely on these arguments when trying to persuade more people to join the party. But, before we get carried away, we need to consider the hidden traps of affiliate marketing, just as we would with any other tempting proposition.
The idea behind affiliate marketing is to promote products through a network of unbiased participants. This means that you need to have used the product and found it quite satisfactory. Then, you’re able to recommend it to any other person wondering whether to purchase the product or not.
You may be thinking:
“Well, that’s pretty straightforward. Where’s the catch?”
To begin with, affiliate marketing is a performance-based business. If you’re going to make money as an affiliate, you need to be able to persuade people to buy something. This could create a situation where affiliates are not honest with their audience.
But there’s more:
Using dodgy affiliate channels could seriously hurt your business. Once your clients find out an affiliate has not been honest about your product, they’re likely to move on and never look back. So, it’s vital that you choose your affiliates wisely.
Another aspect to consider is target audience. After all, affiliate marketing wouldn’t work if the affiliate didn’t already have an established group of viewers or listeners, would it?
If the affiliate has not been able to persuade people to take interest in their content (social media channels, blogs, podcasts or whatever channel they use), they would not be able to persuade them to buy anything. It takes considerable time and effort to create a sizeable audience – it doesn’t simply happen overnight.
A bit more on the topic of “no big investment needed.” It’s true that businesses pay an affiliate whatever he or she can convert into leads or sales.
This could create a situation where the affiliate chooses to promote several similar products in order to make ends meet. What’s more, the affiliate might be connected to controversial opinions, which could damage your business image.
But it’s not all about businesses – affiliates’ reputation might also be at risk. If the product they are promoting happens to not meet the required quality, the inevitable backlash from customers would destroy the credibility of anyone associated with it.
So, where does that leave us?
Like any other imaginative, forward-looking business idea, affiliate marketing can bring a lot of benefits to the parties involved .
The channel is far from an overnight success for anyone who dabbles in it. Still, it is important to emphasize that affiliate marketing is on the rise. At the end of the day, it is an opportunity well worth considering. For more infographic, check out the Hosting Tribunal’s infographic below!