Promoting other peoples’ products to generate sales for them and commissions for yourself (affiliate marketing) is probably the best online home business model for many people, especially when you are a new internet marketer with no product of your own to market. Even seasoned marketers still engage in affiliate marketing, with lots of success.
Pros (Benefits or Advantages)
• No product development stage with ease – this step alone can make or break your passion as it can be both expensive and can demand specialized skills
• Little or no overheard costs such as premises, shipment, salaries, customer care, etc. The product owner bears all these!
• Although you do not pocket the whole amount of a generated sale, the commissions can add up fast to easily compensate for your team building and marketing efforts.
Cons (Costs, Disadvantages or Challenges)
• Where the commission percentage is very small, you will need to make many sales to break-even and get into profit. This may be difficult to many new marketers.
• Lack of product control means lack of control on the pay-plan. Your rate of compensation can be changed at any time as it is at the sole discretion of the product owner!
• With millions of products on offer, deciding on which one to promote can be challenging as everyone tries to make the best pitch for your money.
• If promoting just one product, the risk of loss due to product failure can be high. Indeed, if any such failures occur, you may be left with gaping financial and confidence wounds too difficult to heal!
So is there really any hope in affiliate marketing for new home business owners? Yes, a lot I would say! A few points would help clarify this position. What is critical is to examine the offers seriously and not to be easily sold out to hype or wild claims that now you have found the magic bullet! Honestly, you need to get away from many get rich quick schemes because if truth be told, no such schemes exist out there! Building your own business online requires high level commitment (time or money, but usually both!). Look, it’s your business, right? Then you must work it out. There is no question of just trying if this would work out or not. So follow these steps:
• Find a Mentor – Mentorship is key, so find a person who is already successful in your area of interest and simply copy what they are doing. You see, if something is already working, go run with it – you will save yourself a lot trouble. You are here to make money, not just to be unique! So do not try to re-invent the wheel, it’s already there! Of course, your success will be unique to you alone as this depends on several factors around you – both positive and negative.
• Find a system – After deciding on whom to follow, you will need a system that helps you to work smart with reduced risk of financial loss. A system that reduces your workload while at the same time increasing your chances of succeeding online. Like THIS SYSTEM HERE where all the above considerations have been combined into a single program, with the ability to help you earn from multiple streams of income (tried and tested affiliate programs). With one link, you can build and earn from five or more income streams. You also get a Mentor to set up your own money-making website for free!
So with proven and tested affiliate programs, you too can be on your way to financial freedom!