Here’s my list of the 10 benefits of affiliate marketing for affiliates. There’s huge benefits for companies who use affiliates for promotion, of course. If you use affiliates to drive sales it’s a win:win for a company.
You only pay the affiliate when a sale is made, you determine the commission structure and the advertising risk is taken by the affiliate, not you! But in this post I’m going to cover the benefits from the affiliate’s point of view. When I started out as an affiliate I wrote a list of the main reasons to be an affiliate marketer, and looked at it often, particularly when I was struggling.
My list kept me going because I knew it would pay off eventually – if I only kept going.
10 Benefits Of Affiliate Marketing #1
One of the main benefits of affiliate marketing is that it can give you a completely flexible way of working. Back in the early 2000’s when I first discovered affiliate marketing, I was working as a stuntman. Work was sporadic and it completely scuppered any kind of normal work pattern. A phone call might mean I was away working for weeks. Then, when work dried up I was back to looking for part time, temporary and flexible jobs.
It was difficult holding onto a full time job because of the unpredictability of the work. Affiliate marketing is more flexible than any job, even though there are downsides to the sporadic nature of income you can earn as an affiliate in the early days.
Affiliate marketing gave me something to work towards in a way which suited my lifestyle. I choose my own hours, work from my laptop and use blogging to compound my work over time.
10 Benefits Of Affiliate Marketing #2
Another major benefit of affiliate marketing is the ability to work from anywhere. Once you’re earning an income online, you can relocate to anywhere on the globe. Many entrepreneurs I met have relocated abroad and some moved to cheaper countries where they can work from their laptops and live very cost effectively.
I’m still in the UK but affiliate marketing has given me a “portable office” and I can work from anywhere. I’ve worked in hotels and cafes and often take my laptop with me when I get to work away.
The “work from anywhere” benefit of affiliate marketing means you can earn from anywhere in the world. All you need is a laptop and internet connection. This is super cool if you’re a fan of the nomadic lifestyle or like travelling regularly.
10 Benefits Of Affiliate Marketing #3 – Passive Income
A passive income from affiliate marketing can mean a lot of things. In the early days for me it was just a small infrequent trickle. But, over time that turns into a greater stream/s of income. A passive income has huge implications for your freedom and peace of mind. I wasn’t chasing the big bucks by becoming an affiliate marketer. At first, I only wanted to escape the pain and suffering caused by financial difficulties.
As time moved on, a passive income allowed me to relax a little more about money and remove the main stressors from my life. For me, these were low paid jobs which were keeping me broke and making me miserable.
Since the stunt work was so sporadic, I wasn’t able to make a consistent living from it. Affiliate marketing gave me a flexible way of working which brought a passive income stream and allowed to to relax mentally and enjoy life more.
10 Benefits Of Affiliate Marketing #4 – Income Potential
The income potential of affiliate marketing is unlimited and although many new affiliates will struggle, this gave me something to shoot for. 95% of affiliates will quit which proves that affiliate marketing isn’t easy. But many affiliates can build a full time income from selling other people’s products online. A few affiliates build multiple six, seven and even eight figure businesses from selling other people’s products online.
With high ticket and subscription affiliate programs, you can make substantially more than from selling low value items. Once you’ve learned how to sell a product once, you can do it again and again. Selling products online can be automated and scaled. When you’re working in the traditional sense, trading time for money, there’s always going to be a cap on what you can earn.
10 Benefits Of Affiliate Marketing #5 – Quit Your Job
Quitting a job is one of the main reasons people become affiliate marketers. Once your affiliate income becomes consistently equal to or higher than your employment income, you’ve got the option of quitting. In a difficult job, you can even quit earlier if you’re able to survive on a lower income.
A job often carries a load of costs too, such as your travel costs, uniform, and equipment. An online business can be run from home which minimises your costs and you’ll save money from all those work related expenses, which can mount up.
10 Benefits Of Affiliate Marketing #6 – No More Commute
No more commute. As a stuntman, I was commuting long distances from the north of the UK to London which often took 6 hours each way. This cut into my profits and made the stunt work much less desirable over time.
The expense of commuting can rapidly cut into your income (and happiness) so not having to commute is a big win for many.
10 Benefits Of Affiliate Marketing #7 – No More Difficult Bosses
If you’ve ever had a difficult boss, you know this is a fantastic win! Once you’re financially independent, not only can you sack your boss but you never need take another job again, ever!
Not that you need to quit your job. An independent income source can also give you an edge when it comes to negotiating your salary for example. You are working from a much more empowered position when you don’t need a job, than if you are desperately trying not to get fired!
#8 – Happiness
There’s a lot of versatility with an online business and there’s plenty of opportunity to turn it into a job you love which you’re passionate about. Money is one thing, but once your basic needs are met, it’s important to have a focus and direction which is nicely aligned with your values.
So choosing a topic you’re passionate about, and monetising it with affiliate marketing can be a great way to work at something you love while building an income simultaneously. If you love what you do, you’ll never work a day in your life.
Happiness should be a priority in most people’s lives. Unfortunately it’s often the last thought after meeting all your financial needs. Why not align your passion with a means to earn an income? Affiliate marketing is one of the best vehicles with which you can do this.
#9 – Financial Independence
Being financially independent gives you more choice. You don’t need a job and this is empowering. It means you don’t have to have a job, and the shift in your mindset can mean you can negotiate better deals for yourself, coming from a place of empowerment rather than weakness and desperation. If you’re trapped by a job, it’s disempowering. Your fear of losing the job and your income makes you appear desperate. Employers can (and often do) take advantage of this power dynamic.
Once you’re financially independent, there’s a whole lot more things you’re going to say “no” to! Say no to a job, no to a commute. You can still say “yes” of course but what has been coined “Fuck You money” is pretty sweet!
#10 – Freedom
Freedom means different things to different people. But being financially and geographically free are two massive wins if you want real freedom. You can live anywhere with affiliate marketing and you can earn any amount. This can give you a lot of freedom.
Freedom of this kind can also be slightly unnerving, which is why many sabotage their efforts to attain it. Without the necessary discipline, this kind of freedom can be dangerous. Just read about lottery winners who become alcoholics and blow all their money within only a few years.
But it is often this kind of freedom which attract many affiliates to the business.
Real freedom is being able to spend your time as you choose, with whom you want. Most people don’t have this kind of freedom and given the choice wouldn’t spend their days with their colleagues at work or their bosses! Most people want to spend more time with their friends and families, travelling or simply spending time at home relaxing.
Top affiliates travel and spend time as they choose, carving out time for their business around their lifestyle choices. This is the complete opposite of working for an employer, where you spend most of your time at work, and only a small portion of your time doing what you want.