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Today, we are going to cover how to succeed in affiliate marketing in 2020. There is no doubt that affiliate marketing has become more competitive in the past years, but is it still possible to succeed in 2020?
We will be covering a few different aspects of succeeding in affiliate marketing, how to succeed and some common questions that are flying around the affiliate marketing space right now.
Everybody knows that the competition is increasing, the quality of the competition is increasing as well, so yes it is harder. However, it does take a certain level of commitment to do so.
Throughout this article, we will be covering general tips that apply to almost all affiliate marketing methods, not just one. Simply, because it would be pretty pointless to focus on how to succeed in one method, as there are thousands of different ways to drive traffic and earn affiliate commissions.
Is Affiliate Marketing Dead?
First of all, I just wanted to go into a question that I see a lot, which is “is affiliate marketing dead?”
I can confirm that it isn’t. In the digital marketing space, email marketing has always driven the most sales. However, according to business insider, affiliate marketing has caught up with email marketing and drives roughly the same amount of sales.
So, email marketing and affiliate marketing, are the joint first place when it comes to sales in the digital marketing world. That alone, proves that affiliate marketing is not dead. Another piece of proof is just simply how much affiliates are earning.
This is proven by a popular affiliate marketplace named ClickBank, which has over 200 million customers and 100,000 active affiliates. There are tons of affiliates that generate over $1,000 per day in affiliate commissions on this network. For sure, there are also a lot of affiliates that are doing more than that.
Of course, there are also a lot of affiliates that do less, but this is just to show you that affiliates are generating so much money, that it’s impossible to say that affiliate marketing is dead. Affiliate marketing is not dead, but it’s very competitive. In fact, as I mentioned in the affiliate marketing changes & trends, the amount of competition is actually increasing.
Is Affiliate Marketing Worth It?
This is something that depends on how much effort you are going to put into this business model.
If you are going to go into affiliate marketing half-heartedly and do half the work that others are doing, then no, there is a very low chance of you succeeding. Without success, it can’t be worth it.
Instead, if you go into the business, doing more work than everyone else, spending more time on it than everyone else, you will almost guarantee success with it. Once, you have then built a large email list, an established blog, a big YouTube channel or whatever you are focusing on, then you can start putting in fewer efforts and earn a very good amount of commissions.
Affiliate marketing is all about building and with today’s competition, you need a certain mindset to succeed. Only if you have that mindset, it will be worth it.
The mindset that I am talking about, is the mindset a man would have who is building a house on his own just with his hands. Otherwise, you will probably get annoyed with the beginning of the business, where you work for hours and only see cents.
Also, I’m not by any means saying that it will be as hard as building a house with just your hands, but that is the kind of mindset you need to succeed in affiliate marketing. A lot of people often pretend like affiliate marketing is an easy way to make a quick buck when in reality it’s a real business. Real businesses have bumpy roads.
So, affiliate marketing is worth it if you follow through with it. However, if you aren’t going to stick to it, then it will probably result in you losing money and time, in which case, it would obviously not be worth it.
How To Succeed In Affiliate Marketing
Now, that we have covered those common questions, let’s finally get into how to succeed in affiliate marketing. Throughout this section, I will be covering different aspects that I believe are important factors when it comes to success in affiliate marketing.
What Is Success In Affiliate Marketing?
Every individual will have a different definition of success in affiliate marketing. Personally, I define success in affiliate marketing as having a reliable and consistent income from it, so I have based the factors below off that and how to reach that level.
Of course, some people reading this article might have a different idea of success, one person might define success as earning over $1 million per year, others might define success as an extra few hundred dollars per month. So, I went with the factors that are required to reach a consistent source of reliable income, as these factors can be applied to any other definition of success too.
The first factor that plays an important role in becoming successful in affiliate marketing is Consistency. It does not matter whether you are running paid ads, uploading YouTube videos or blogging, you have to be consistent.
Without consistency, you will just lose anything that you build up. Your old subscribers won’t return to see new content, your email list will not stay fresh by new leads coming in and you will find it a lot harder to generate consistent commissions.
If you are like me and would define success in affiliate marketing as consistent commissions building a reliable source of income, then you will have to be consistent to become successful. Each piece of content is an asset that can generate sales. Your email list is one big asset, but you need to help it grow consistently.
I always like comparing it to going to the gym, you can’t go once and expect results. You need months of work and consistency before it builds up to what you want it to be.
Without staying consistent, you will have a hard time becoming successful at affiliate marketing in 2020. Consistency & frequency are one of the most important factors in affiliate marketing.
I also wanted to talk about variety, as I believe that this also plays a huge role in affiliate marketing. What I mean by variety, is a variety of traffic methods.
I always find that the best way to promote a product is through a mixture of paid traffic and free traffic. A mixture of both brings the perfect balance, as paid ads can give you quick results, but free traffic such as search or YouTube allows you to build your long term assets.
Once, you have grown your long term assets, they will pay you over and over again, and benefit you in a life-changing way. Paid ads are good for getting quick results, for example, building an email list quickly is possible through paid ads.
You can then also use your email list, not only to sell products but also to help your assets grow. The same assets will then help you generate free traffic in the future.
Also, if you are reliant on one source of traffic, that itself is actually pretty risky, because if the platform you use dies, so can your income. Anything like that can happen, accounts being hacked, accounts being shut down or even sometimes platforms can die.
So, variety is something that every affiliate marketing business needs.
3. Not Giving Up
This is something that should be applied to any online business. The only way to fail is by giving up. If you stick to affiliate marketing and don’t give up, then I can guarantee that you will succeed, because eventually, you will make it work.
This is also one of the reasons, why I always recommend beginners starting with free traffic, as you can keep creating content instead of giving up. With paid ads, there’s an issue with never giving up, especially if you are a beginner or you have a limited budget.
Can you guess what the issue is?
That’s right, you can run out of money. Of course, you might have your email list which hopefully you will be able to make some sales off of, but some people won’t be able to, especially beginners. With free traffic assets, you can just keep producing content and building it, without running out of money.
If you want to start affiliate marketing in 2020 and become successful, I don’t care what situation you are in, you can’t give up. Otherwise, there is no point in you even starting. Anyone can become successful in this business if they don’t give up.
4. Finding Improvements
Not giving up, only works if you find and make improvements.
If you are driving traffic a certain way and it isn’t converting, then driving more traffic is not going to make you profitable. What is going to make you profitable, is taking a look at where the problems are and making relevant changes.
This sounds a lot easier than it actually is, I remember at the beginning of my affiliate marketing journey a couple of years ago, instead of making changes, I thought I just had to drive more traffic and guess what happened?
I went broke!
However, I did learn from that experience and now a few years later, I have more than recovered from that experience. So, if something is not working, more traffic is never the solution (unless you do have a very small sample amount).
Just remember, to always analyze your results, it does not matter what affiliate marketing methods, you are using, there will always be some sort of statistics or analytics, that will show you where you can improve.
5. Treat It Like A Business
As I mentioned earlier, affiliate marketing is not a way to make a quick buck. It’s a business, that means you need to treat it as one. You can’t just spam your affiliate links around the internet and hope to generate sales.
I can’t think of one business that has successfully done so. Instead, you need to focus on how you can build your business’ assets, such as your email list, blog or YouTube channel, that can generate bigger amounts of sales.
You are selling products, affiliate marketing is a business. If you don’t have the funds to go heavily into advertising, that’s fine. However, you will have to create your own way of advertising by building an audience to which you can advertise later.
New affiliates always use the excuse of not having enough money to advertise, when they can create the advertising opportunities themselves.
Also, by treating it like a business, I mean behaving like a real business, that means not just using a social media account to sell products. I mean at least have some sort of landing page, funnel, YouTube channel or blog, where you generate most of your leads and sales. Otherwise, you will have a hard time succeeding in affiliate marketing.
6. Focus On Growth, Not Money
When you start affiliate marketing, for the first few months, you will not see a lot of monetary profits. That’s why in my opinion, you should never focus on monetary profits, otherwise, you will just get demotivated and eventually give up.
Instead, you should focus on growing, see the positives, it can be views or positive comments on your blog/ YouTube channel, it can be anything. This will motivate you even more and allow you to focus on growing.
As you grow, the monetary profits will come in naturally. Don’t worry about them, just focus on growing.
Also, I remember when I started and I wasn’t earning a lot yet, I kept thinking when am I going to earn a lot of commissions?
That was the problem, it’s not about when you know for a fact that it will come eventually. You need to focus on how can I grow daily, monthly, yearly and how far can I go? When you ask yourself these questions, you start doing the right kind of work to grow and as you grow, so does your income.
7. Focus On One Thing At A Time
I know that earlier I said, you need variety. However, it’s still important that you focus on one thing at a time. Once you have mastered or at least got the first strategy going, then you can branch out into other methods.
If you need to have a shower, clean your house and cook, do you do all three of these tasks at the same time?
Exactly, it’s the same with affiliate marketing… You need to do it all one step at a time!
That doesn’t mean that you shouldn’t branch out into driving other types of traffic but do everything step-by-step.
Is It Possible For Complete Beginners To Succeed In 2020?
While it definitely is possible for beginners to succeed in affiliate marketing in 2020, it’s definitely going to be a little harder than most expect. A lot of content creators try to make it look easier than it actually is.
This has caused an insane amount of increase in competition. Yes, a lot of these people give up, but a lot of them also don’t. When a beginner is starting out in 2020, there will be a lot of work.
It also depends on factors such as the niche or platform that he is using, but either way, there will still be a lot of work. In competitive niches, such as internet marketing, health, weight loss, etc. the amount of work needed doubles.
These are niches with the biggest markets, but that doesn’t mean that other niches aren’t profitable. Quite the opposite, if you can get a bigger piece of a smaller cake, then sometimes this will work out really well.
Basically, what I am saying is that yes beginners can succeed in affiliate marketing, but it’s not exactly going to be easy. There’s more competition, that means, you will have to put in more work.
If you really want to guarantee your success, I would try to work double the amount, everyone else is doing.
Will Affiliate Marketing Become Easier In The Future?
The way society is moving, I can’t imagine so.
Through the internet, information on business models is shared more and faster than ever. An increasing amount of people are realizing that the traditional “perfect path” of going to study at college or university, is getting a little outdated. They are realizing that there are other ways out there.
They are also seeing that people who are taking these alternative paths are earning a lot of money. If you combine this, with the increased materialism in today’s society, then what it leads to is even more people coming into affiliate marketing, meaning it will get harder.
Affiliate marketing is a business model that can’t be replaced, it’s something that will always be around. Companies will always want to make more sales and affiliates will always want to earn some money. There is no doubt about it.
It will always be one of the easiest businesses, despite it not actually being easy. So, content creators and gurus will always use this to display it as easy, so that they can generate more views, sales, etc.
Affiliate marketing is an evergreen business model which is one of the easiest business models, that is growing due to society, content creators & gurus. Can you imagine it getting easier at any point in the future?
I know I can’t, but you never know.
However, the facts and trends speak against it becoming easier, so if you want to start affiliate marketing, I would highly recommend you start right now. If you are a beginner and want to start affiliate marketing, I recommend having a look at the $100 affiliate marketing method.
Yes, succeeding in affiliate marketing has become harder, due to the increase in competition.
However, it is by no means impossible if you don’t give up and focus on the right things. It does not matter if you are a beginner or not, the most important thing is that you keep learning, improving and growing.
Doing those three activities will allow you to succeed in affiliate marketing. When you do those three activities, the monetary profit will follow naturally.
Taking action alone, will also not make you successful, you also need to be consistent with your actions, to see the results in the future.