In July 2020 I was made redundant. With a very small payout as I only worked part-time, but it was the best thing that could have happened to me.
Because I had a plan.
Affiliate Marketing: An Attractive Alternative to the 9 to 5
The search for alternative ways to earn income is always evolving. Millions of people dream of something more than is offered by the typical 9 to 5 corporate work week. Tied to employers for 40+ hours a week in return for fixed pay and uncertain job security. Given this dismal career reality, it’s not surprising that ambitious, high performers are no longer content with the status quo.
The affiliate marketing business model can be maintained from any location where there is an internet connection. The freedom, minimal capital requirements and future prospects for this ever-growing industry make it ideal for new entrepreneurs. Either intent on escaping the 9 to 5 rat race or having just been disqualified from the race, in other words made redundant.
What Is Affiliate Marketing?
Affiliate marketers sell a business partner’s products and services and earn a percentage of the sale, much like a commissioned sales representative does. The main challenges confronted by affiliate marketing professionals are deciding what to sell and how to attract buyers. When you start an affiliate marketing business, you will have to conduct research and undergo training to answer these important questions. And they will be key to determining future success.
The way it works is that you will be provided with an affiliate link by your affiliate partner so that the sales you send to them are credited to your account. This link is often embedded in the advertisement or button the customer clicks on to be sent to a landing page to complete the transaction. Don’t worry, you don’t have to be a “techie” to learn how to position the link.
The Allure of Affiliate Marketing
The barriers to entry for most business models are large capital requirements, a long startup timeframe, and a lack of training or expertise. Conversely, affiliate marketing does not require a large capital outlay or a long startup period before you can actually begin earning income. Additionally, there is affordable training available to help people get started with affiliate marketing. This laptop lifestyle is one of the main reasons people get so excited about affiliate marketing. Not only is affiliate marketing practical and realistic. It also comes with guaranteed freedom from a specific geographic location.
Affiliate marketers can leverage the hard work and good reputation of established companies to sell their first-rate products. Essentially carving out a direct and cheap path to success that isn’t available to traditional retailers and wholesalers. Like anything else, succeeding at affiliate marketing requires the same work ethic as any business set up, as well as training and research. However, after the initial setup period, entrepreneurs can set up ads which run continuously. Essentially a 24-hour shop front and new lead capture mechanism.
After the initial launch of your business, you can work from any location that has an internet connection, giving up the oppressive 9 to 5 work routine for limitless freedom. Many affiliate marketers travel extensively since they can operate as effectively from an island in the Caribbean as they can from a major city.
Affordability is another major reason affiliate marketers enjoy success. With no responsibility for buying, storing or shipping, you can focus your capital on digital marketing. So for a fraction of the operating cost of retail or wholesale businesses, you can promote products that customers want. With few or zero overheads of your own.
Accessible and Affordable Affiliate Marketing Training
The digital marketing world offers many interesting methods for attracting customers. And a vast amount of training is available by investing a fraction of what most students pay for a four-year degree.
Many affiliate partners offer free training since they stand to benefit from your success as a partner. While all training is helpful, many entrepreneurs opt for expert training. This way they can speed up the process and avoid common mistakes.
As many brick and mortar businesses close their doors, the future continues to improve for digital marketers. Clicks and mortar is the new normal and online purchasing shows no sign of slowing down. And, with a looming global recession and stability in employment increasingly uncertain, the future of the 9 to 5 may not be so set in stone.