Affiliate marketing is one of those buzzworthy concepts that you hear an awful lot about. Because of the buzz surrounding affiliate marketing, there is a wealth of information about it out there, some of which isn’t worth the pixels it’s displayed with.
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Over the past few years, there are several misconceptions about affiliate marketing that have become quite popular. In order to ensure that you’re not taken in by these misconceptions, we’re going to debunk them for you.
Affiliate Marketing Is About Volume
This may be the most potentially damaging misconception. Businesses will often believe that the more affiliate relationships they enter into the better. The logic for this is simple: the more places where my product or service is being marketed, the more likely consumers are to come into contact with that product or service.
Taking this scattergun approach to affiliate marketing will almost certainly do more harm than good. When you’re unscrupulous about the partners that you work with, you could be placing your product or service in places where your brand’s reputation will be damaged. Further, you’ll erode the return on investment that you can expect to get through a well-calibrated affiliate marketing campaign.
Affiliate Marketing Is Easy
This misconception is closely related to the last. Given that people believe that volume is best, people will also believe that affiliate marketing is a set it and forget it kind of thing. The exact opposite is true.
In order for affiliate marketing to work for your business, you will have to expend the effort to identify and cultivate mutually beneficial relationships. This will require interfacing with partners directly, and it will require keeping tabs on the performance of your various partners.
Beyond this, you’ll also have to do your part. Your partners can drive the traffic in your direction, but have you optimized your sales strategies to earn conversions? Affiliate marketing is truly a partnership, and both you and your partners will need to pull their weight.
Affiliate Marketing Is Old News
Like anything Internet-related, affiliate marketing has its naysayers. To be sure, affiliate marketing has been around for quite some time now. In some cases, businesses may believe that’s its become outdated, preferring to devote their marketing efforts to social media strategies and “current” marketing outlets.
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To be sure, your business should be looking forward to these new marketing opportunities, but that’s not a reason to leave affiliate marketing behind. A successfully executed campaign can yield a tremendous return on your investment, one that will likely be in excess of any other marketing strategies you’re employing. By all means pay attention to these other marketing outlets, but make sure that affiliate marketing is a part of the overall makeup of your marketing strategy.
The One Thing That’s True
Now that we’ve debunked three of the most popular misconceptions about affiliate marketing, we’ll share one thing that is, and always has been, true. Making an affiliate marketing program work for your business requires time and effort — and money, too. So, be sure you’re making the investment necessary to find success for your campaigns.