2020 has been a very challenging year for most people to say the least. With COVID-19 creating a halt to the entire world, many people have lost their jobs and are not sure how they are going to provide for themselves and their families.
For decades, many people have touted online that affiliate marketing is the #1 way to make money online. But, is affiliate marketing relevant in 2020?
Below, you’ll find out why affiliate marketing is more relevant in 2020 than it ever has been. You’ll also find tools you can use to get started in what will be the best year for affiliate marketers.
What is Affiliate Marketing?
Affiliate marketing is when you promote a product or service for a business and gain a commission for each sale that you make.
With so many ways to affiliate market online, and thousands of products to promote, affiliate marketing is one of the best ways to make money online.
Businesses actually want to put money in your pockets to promote their products and services!
The best part about affiliate marketing, is that it is a ridiculously easy industry to get into.
Below, we will explore more misconceptions that people have about affiliate marketing. But, contrary to popular belief, there aren’t too many hands in the pot already.
So many people try to get into affiliate marketing, and when they see the amount of work that is needed to see any success, a lot of them jump out just as fast as they went in.
Affiliate marketing IS NOT a get rich quick scheme. It has not worked that way for any successful affiliate marketers, and going into it with this mindset will set you up for failure.
Not only is it possible to make money online with affiliate marketing, it is also possible (and has been done by thousands) to replace your 9-5 job with affiliate marketing.
The secrets to escaping your boring day job with affiliate marketing are within → this ebook, but let’s look at some of the common misconceptions behind affiliate marketing.
Misleading Ideas About Affiliate Marketing
There are some very common misconceptions behind affiliate marketing that scare many people away from the idea.
Below, we’ll take a look at these 4 common misconceptions:
- You need to have a HUGE following to make any money.
- You have to promote expensive products that are useless.
- There’s already too many hands in the pot.
- Affiliate marketing won’t be needed forever.
1. You need to have a HUGE following to make any money.
While it is true that the more followers you have, the more sales you will make; assuming that this is the only way to make any money with affiliate marketing hurts your chances of starting a profitable business.
A reason behind this misconception is that most people attribute success in affiliate marketing to the loudest influencers in the industry.
We’re talking about the Youtube channels with millions of subscribers. The blogs that have millions of daily readers, and the Instagram accounts with thousands of likes.
And, people think this way because these are the affiliate marketers that are actually seen. But, what about the ones that you’ve never heard of that are making $5,000-$10,000 a month with affiliate marketing?
There are thousands of affiliate marketers online that are making over $2,000 a month in affiliate commissions with less than 1,000 followers. That’s 0.001% of 1 million followers, like that big shots have.
With the billions of users accessing the internet a day, 1,000 followers is not only incredibly easy to achieve, it is also a very low amount of people. If your affiliate program can provide incredible value and actually better people’s lives, 1,000 followers will make you a comfortable living.
In affiliate marketing, it’s not all about the amount of followers you have. It’s about the value that you are able to bring time and time again to those followers.
If you are able to do this, not only will you be successful as an affiliate marketer, you will also see your number of followers start to grow organically.
2. You have to promote expensive products that are useless.
Promoting expensive, useless products is a sure way to get people to steer away from you.
If someone sells you a bad apple, will you ever go back to that person to buy apples again? (Fool me once, shame on you, fool me twice…)
The person that sells good apples is making way more money than the person who sells rotten ones.
This second misconception also comes from the many influencers that people see making money online. These influencers run countless ads on social media and Youtube about how they made millions with a certain product.
While not all of these affiliate marketers are out to sell you snake oil, some of them do only promote products that will burn a deeper hole in your pocket to add more money to theirs.
This is unethical affiliate marketing, and this is something that you will not be practicing if you pursue affiliate marketing.
In my ebook, I drill the idea that an affiliate marketer is here to serve their audience and not themselves. Keeping your audience in mind when you are selecting affiliate products is the only way that you will meet their needs and make any money with affiliate marketing.
If your audience is minimum wage workers that you want to help get out of the 9-5, would you promote a product to them that is $500? No! #1, you know they cannot afford it, and #2, if they cannot afford it, what makes you think they will buy it?
Do not be the greedy affiliate marketer that is only in the game for themselves. Know your audience.
3. There’s already too many hands in the pot.
Have you ever heard the saying, “Get it while it’s hot”?
People who believe that there are too many hands in the pot see affiliate marketing as if it were a limited time offer. Having too many hands in the pot only applies to things that will run out.
Have you ever gone onto Amazon to order something (like toilet paper at the beginning of the year anybody?), and saw that the item was out of stock?
Think about all the companies on Amazon that sold toilet paper during that time. Even the ones that were getting no sales when they started became completely sold out. At this point in time (which we hope is never coming back!), there weren’t enough hands in the pot.
Now, of course there aren’t toilet paper shortages every day, but the point is that affiliate marketing itself is not an over-saturated industry. Instead, the markets within it can become over-saturated.
If you’ve read through, “Escaping the 9-5 with Affiliate Marketing,” then you understand the importance of picking a micro-niche to overcome this over-saturation.
When you micro-niche, you get yourself out of the areas of affiliate marketing that do have too many hands in the pot, and into the areas where there’s a shortage of marketers.
When you find your micro-niche, you will find the perfect affiliate offers to pitch to your audience that not many others are promoting.
4. Affiliate marketing won’t be needed forever.
No matter what year you are reading this post, I can guarantee that affiliate marketing will still be relevant. This is because businesses, big and small, will always need help getting their products out to the public.
Take Apple for example. How many of us actually have Apple’s website saved in our bookmarks so that we know whenever they launch a new product? Probably a small percentage of us.
We don’t do this because we know that we’ll see it online, hear about it from our phone carrier, or maybe hear about it from a friend.
All of these ways of getting the information to us about Apple’s new products are affiliate marketing.
Even big companies like Apple will always need help getting their products out on the market. Imagine all of the smaller, lesser known companies that are struggling to get their products out when they first start?
Did you know that affiliate marketing is the #1 way that small companies launch their new products? Checkout Clickbank and browse through all of the affiliate offers they have there.
Affiliate marketing will ALWAYS be needed in order for a company to generate sales.
And companies will always be looking for affiliate marketers, because we can reach audiences that they cannot.
Is Affiliate Marketing Still Relevant in 2020?
If you ask me, affiliate marketing is more relevant in 2020 than it has ever been.
Because with the arrival of COVID-19, a lot of people in the world feel safer getting their goods and services online as opposed to going into potentially crowded stores. This will become our new normal.
Just Facebook alone saw a 27% increase to its 1.73 billion daily users since COVID-19 started. With the internet surging with more daily users than ever in 2020, the opportunities for affiliate marketing have skyrocketed.
Put the misconceptions behind you, look towards the facts and get started with affiliate marketing today.
I explore over 10 different ways that you could start an affiliate marketing business today in my ebook, “Escaping the 9-5 with Affiliate Marketing.”
It’s never too late to start affiliate marketing, but today is the best day to get started.