For years, affiliates have been making money by promoting other people’s products and services. This business model has been popular for some time, but with the rise of social media and other marketing channels, some experts have been questioning whether affiliate marketing is still a viable business model in today’s fast-paced digital world. To find answers to this question, we reached out to several experts in the online marketing industry, who shared their insights into the current state of affiliate marketing.
Nate Lind, founder of the eCommerce company, Adsum, commented that “Affiliate marketing is absolutely still a viable business model today. In fact, I believe it is one of the most effective marketing channels available to businesses of all sizes. Done correctly, affiliate marketing can provide an advertiser with a high return on investment, while also providing affiliates with an opportunity to earn passive income.”
Lind went on to explain that, “the key to success with affiliate marketing is to create a mutually beneficial relationship between the advertiser and the publishers. Advertisers must offer competitive commission rates and provide affiliates with the resources they need to promote their products effectively. In return, affiliates must be willing to put in the work to drive traffic and sales.”
Feras Alhlou, co-founder of the digital marketing agency, E-Nor, also supports the viability of affiliate marketing. Alhlou stated that, “Affiliate marketing is still a strong and relevant business model, especially when leveraging online relationships, social media, and intelligent tracking tools to optimize performance.” He went on to say that, “success in affiliate marketing requires a focus on quality content, niche target markets, trust, ethical dealings, and constant optimization. With proper implementation, affiliate programs can offer cost-effective marketing, access to untapped markets, brand expansion, and higher profits from increased conversions.”
Meanwhile, Eric Siu, CEO of Single Grain, a full-service digital marketing agency, takes a more cautious approach, suggesting that while affiliate marketing can be a good business model, “it depends who you are and what you’re trying to do. If you’re a brand with a limited budget, then affiliate marketing can be a great way to drive sales and conversions without hiring a large team of in-house marketers. However, if you’re a startup looking to build a strong brand, you may want to focus on other channels such as content marketing, Facebook ads or influencer marketing.”
In conclusion, affiliate marketing is still a viable business model today, especially when done correctly. To succeed in affiliate marketing, businesses must be willing to offer competitive commission rates, provide affiliates with the resources they need to promote their products effectively, and build a mutually beneficial relationship. Affiliates must be willing to put in the work to drive traffic and sales, focus on quality content, niche target markets, trust, ethical dealings, and constant optimization. There may be some limitations for brands with limited budgets, but overall, affiliate marketing can offer access to untapped markets, cost-effective marketing, and higher profits from increased conversions.