Using affiliate links can be beneficial for bloggers, but some misconceptions about this popular marketing strategy in the creator economy may hinder them from taking advantage of it.
Myths and misconceptions of affiliate marketing
1. It’s too late to start affiliate marketing
Despite the abundance of affiliate marketing promotions online, you may feel like it’s too late to get involved. However, the reality is quite the opposite – now is actually the ideal time to become an affiliate. Wondering why? Well, even though achieving success has never been effortless, you don’t necessarily require extensive sales expertise or advanced programming abilities to get started.
It is natural that you will need to invest effort in developing a web page or social media profile, incorporating links and tools, providing valuable content, and establishing trust with your community. Although this requires time and effort, it can be achieved.
An additional concern that could prevent you from becoming an affiliate is the mistaken belief that the competition is excessively intense. Is it really? Firstly, the number of emerging companies is growing year after year, hence the options for advertisers to endorse are continuously expanding. Secondly, while there may be numerous average websites, blogs that offer valuable content never go unnoticed.
Success will come quickly if you prioritize delivering value to your community, rather than being concerned about the market being overcrowded.
2. More traffic = More profit
One of the biggest misunderstandings regarding affiliate marketing is that traffic alone guarantees success. While attracting a significant number of visitors to your website is undoubtedly desirable, it is not the sole factor determining your achievements. Even if you receive hundreds of daily website visitors, failure to strategically position tools and links will hinder the conversion of traffic into actual sales. To achieve success in affiliate marketing, it is important to steer clear of these common mistakes.
- Lengthy page loading time: According to Neil Patel, 50% of people abandon a website that takes more than 3 seconds to load. Users quit the site before seeing any content.
- Overloaded site design: The design must be simple and engaging to help users focus on the content.
- Non-engaging content: You must create high-quality, valuable content and organically integrate links to the products or services that you are promoting. If the content is not valuable and overloaded with affiliate links, it will not convert.
- Lack of keywords: Does your content contain relevant keywords (both long-tail and short-tail) that help search engines match your website to relevant queries?
3. Not many niches are profitable
Affiliate marketing encompasses a wide range of niches, including travel, eCommerce, loans, and dating, beyond solely selling clothes online.
The profitability of a specific niche in your case depends on your audience and marketing strategies. For instance, if your main target is millennials, you will not have much success selling expensive items like cruises or luxury resort trips. However, once you determine what the interests of your readers are, you will quickly begin generating sales.
If you want to explore the earning potential of different niches, travel is definitely one worth considering. To gain a better understanding of the advantages associated with the travel niche, take a look at this informative video.
4. Affiliate marketing is expensive to start
It’s important to be aware of one of the largest misconceptions surrounding affiliate marketing – the reality is quite the opposite. First and foremost, you have the ability to build your website at no cost. Numerous website builders and hosting servers provide free plans.
You have the option to create your own content or bring in guest bloggers and free authors to increase website traffic through SEO. Furthermore, there are numerous CPA marketing and blogging courses available to the public, allowing you to learn autonomously.
Although success may take longer to achieve without any investments, affiliate marketing is comparatively less costly than other types of businesses as it does not require involvement in production, delivery, and similar activities.
5. You need technical skills
There is a misconception surrounding the necessary skills for affiliates to operate a digital business, particularly in terms of technical expertise. However, possessing strong technical skills is not compulsory. Beginning with a social media account is sufficient, and through experience, you will gradually acquire knowledge on expanding and establishing your blog. Over time, you will delve into SEO and acquire all the necessary information.
Users can easily create a blog in just a few hours using website builders like WordPress or Wix, even without extensive technical knowledge, from the very start of the process.
6. It’s all about the advertiser
Selecting a trustworthy advertiser is a crucial aspect. While providing high-quality products and reliable merchants is necessary to entice clients, it is not the sole requirement. Effectively showcasing your offer and promoting your blog are also essential to widen your audience.
Even if you include links to popular brands like Booking.com or Skyscanner in an unlikely location, readers may not notice them, let alone make a purchase. However, if you invest effort into promoting your content, understanding your target audience, identifying relevant keywords and topics, and offering valuable advice, even a lesser-known advertiser can generate sales for you.
7. Affiliate marketing is not a serious business strategy
Is it possible to generate significant earnings by sharing a few links on your blog? Your income is determined by the amount of time and effort you put in. Eventually, this could become your primary source of revenue. More than 80% of affiliates make over $20,000 annually. Additionally, 57% of bloggers who earn more than $50,000 per year monetize their blogs through affiliate marketing.
Affiliate marketing is regarded as a significant strategy by advertisers due to its ability to generate approximately 30% of total sales. It is projected that the annual expenditure in affiliate marketing will reach $12 billion by the year 2020.
8. The higher the commission rate, the more you will earn
While browsing through offers, the inclination may arise to choose advertisers offering the highest commission rates. Nevertheless, this does not necessarily mean increased profits. It is crucial to carefully consider additional aspects like conversion rates, earnings per click, advertiser reputation, support, available promotional tools, and more.
9. Affiliate marketing is dead
According to Statista, the spending on affiliate marketing in the U.S. has consistently risen from 2010 to 2022 and has reached $8.2 billion in 2022. This indicates that the channel is not only alive but also flourishing. Currently, more than 80% of brands have affiliate programs, attributing 16% of online orders to affiliate marketing.
Affiliate marketing facilitates sales and is employed by various entities ranging from media giants like Business Insider and The New York Times to emerging startups and brands, who utilize it via referral programs.
10. It’s too much work
Starting on day one, bloggers can easily create affiliate links using modern tools and begin generating income from them.
Commonly used programs include Amazon Associates, ShareASale, and Commission Junction, aiming to establish a connection between customers and brands through relevant content and tools, achieved by sharing affiliate links that result in sales.
11. It’s passive, low-effort income
While certain people may consider affiliate marketing to be labor-intensive, some mistakenly assume it requires minimal effort. While it is true that incorporating these links is simple, bloggers must dedicate themselves to improving their content, online presence, and reputation in order to attract followers, generate sales, and earn money through affiliate marketing.
Given that influencers are remunerated based on actions, they need to be cautious about conversions. Consequently, they will require an increased number of active calls-to-action, a greater amount of sales-oriented content, and more innovative approaches to showcasing products.
12. Size matters
There is often a mistaken belief that affiliate marketing only benefits influencers who have a large audience. In reality, the crucial factor that determines success is conversions, not the size of the audience.
Micro-influencers, who possess 1,000-100,000 followers, account for at least 90% of effective influencer marketing. Approximately 90% of brands actively seek to collaborate with them through affiliate strategies. Owing to their modest follower counts and remarkable engagement levels, micro-influencers are commonly perceived as an economical means for brands to connect with specific audiences and boost sales.
13. Affiliate marketing blocks other income streams
Bloggers can still enter into direct contracts with brands while earning through affiliate programs, as it aids in capturing the interest of companies they desire to collaborate with.
Moreover, engaging in affiliate marketing frequently paves the way for establishing a closer collaboration with the brand. Blogging partners who are actively involved consistently enjoy a benefit when it comes to choosing brands for a partnership, as they possess concrete evidence of their impact and audience data to support their influential status.
14. ”Audience is too niche”
It may be surprising, but having a niche can be advantageous for affiliate marketing.
Having a specific target audience is beneficial for achieving success as you cannot appeal to everyone. This allows you to have a clear understanding of the preferences, tastes, and purchasing behavior of your audience. Brands are aware of these factors, thus, if your niche has attracted a following, it can also attract attention from brands.
15. Brands only care about sales
Brands are open to partnering with other targeted actions to generate awareness and credibility, beyond just sales. These actions may include initiating a trial period, downloading a mobile app, or seeking a free consultation.
Even bloggers who are very concerned about preserving their audience’s trust and desiring to nurture a laid-back environment can also consider these alternative means of taking action.
16. It’s not a viable long-term plan
Affiliate marketing often involves long-term partnerships as both parties derive benefits from continuous collaboration: your understanding of the audience deepens, enabling you to provide more relevant offerings, and the audience develops trust in both you and the brand.
By fostering a connection with the audience and establishing trust, marketing can expand to incorporate various digital offerings such as online courses, software, and other digital products.
17. It’s too late to get started
Despite the misconception about fierce competition in affiliate marketing, the increasing number of emerging companies each year expands the options for advertisers to be promoted. Blogs that offer valuable content will always distinguish themselves and gain profitable collaborations with brands.
18. You need a blog to be an affiliate
Having a loyal following in any platform is crucial for participating in affiliate marketing programs, as it ensures visibility and click-throughs on your personalized links. Being present on a specific platform matters less than having a supportive community.
Beauty influencers frequently advertise brands on their social media accounts by producing makeup tutorials and inserting affiliate links to their websites in the video descriptions.
Don’t let these myths stop you from earning
Are you no longer under the misconception that affiliate marketing is a magical means of making money effortlessly? We’re pleased to hear that you aren’t.
Affiliate marketing is a completely valid method of making a living; however, achieving success in this field will demand a significant amount of dedication and time. Unlike alternative business techniques, affiliate marketing is convenient to start, does not demand substantial financial investment, and can be pursued as either a part-time gig or a full-time profession.
