PROS AND CONS OF AFFILIATE MARKETING

It's important to weigh the pros and cons of diving into affiliate marketing before you start, so let's take a look at them.

PROS

No or low startup costs: You don't need to invest a fortune to get started. It's a low-risk venture where you can begin with a minimal budget and grow at your own pace.

Flexibility: You can work wherever you want, whenever you want, anywhere in the world—all you need is a laptop/mobile phone and an internet connection.

Time freedom: When using marketing strategies like Authority Marketing, you no longer need to trade your time for money. Once you've set up the system, you can essentially have your business run on autopilot.

No prior experience needed: Anyone who can navigate the internet, send emails, and pay bills online can learn to do this. The tools and systems available online today make things much easier.
If you're willing to learn, there's no doubt you can do this!

No limit to how much you can earn: There are no limits to how much you can earn. In other words, you can write your own paycheck. After 3 months as an affiliate, I had my first "high ticket" sale where I earned a full month's salary (based on what I earned as a former employed manager at a larger educational company) from a single customer purchase. It was such a GREAT feeling

Meaningful work: It gives you the opportunity to build an income around your hobbies that you have. When aligning yourself with products, services, and brands that you truly resonate with, things you are happy to work with, this results in the work being enjoyable and meaningful.

No requirements: You don't need to ship or store anything. You don't need to provide any customer service, and you don't need to set up any of the technical stuff like merchant accounts, payment processing, etc.

No "cold calls": There's no need to be an intrusive salesperson chasing people or trying to convince someone to buy something they don't want. That approach doesn't work anymore and it doesn't feel good either. With the right strategy, you will truly be helpful to people. They will feel glad they found you and more than happy to buy from YOU!

Okey so how about the cons?

CONS

Competition: There is a lot of competition in affiliate marketing, which can make it difficult to stand out and sell if you don't know how to market and sell effectively online. However, as mentioned earlier, if you learn to use proven strategies like Authority Marketing, you will never struggle to attract new customers and sell.

Low commission: Some affiliate programs offer low commission rates, meaning you have to sell many products to earn a larger sum of money. However, it's important to remember that there are still plenty of opportunities to earn a good income as an affiliate.

One strategy is to focus on promoting goods with "high ticket" commissions to achieve higher profit margins. I myself work with a "high ticket" service where I can earn a commission of around $4.000 from a single customer purchase. Although these products may have lower conversion rates, meaning you sell fewer, the higher commission rates can make it easier to earn a significant income with fewer sales.

It's also worth exploring affiliate programs with recurring commissions, where you earn a commission every time a customer you referred makes a purchase, not just the first time. For example, I receive commissions every month from people who registered via my affiliate link a year ago. Or products that customers subscribe to every month. These can be various types of subscriptions (Spotify, Canva, or supplements via NUskin).

Some affiliate programs even offer "lifetime commissions," meaning if a person buys a product through your unique affiliate link once, you will get paid for every purchase that person makes "for a lifetime."

Requires time and effort: Affiliate marketing takes time to learn and is not a "get-rich-quick scheme." It takes time, effort, and commitment to learn and to build and grow your business if you want something that will earn you for a long time.

Relies on company's success: When you market a company's products or services as an affiliate, your success is tied to the company's success. If the company's products or services are not in demand or if the company goes out of business, your income as an affiliate may be affected.

The solution to this is to collaborate with multiple companies and market a range of products and services. There are millions of products and services available online to market. It works very well for me with the various partnerships I have with a handful of companies.