This question is on the lips of many online entrepreneurs looking to grow their income from digital pursuits in 2022. Affiliate marketing has often been disregarded in recent years as an outdated and inefficient income stream, but the reality is this could not be further from the truth.
It’s definitely still possible to make plenty of money from affiliate marketing. In fact, the industry is continuing to grow, so there are more opportunities to profit from affiliate marketing rather than opportunities drying up.
According to Outbrain, the US will see affiliate marketing spend soar from $5.4bn in 2017 to $8.2bn by the end of 2022. More than four-fifths (84%) of US publishers rely on affiliate marketing today. Those sites that target the fast-growing industries and niches tend to thrive best.
The US sports betting market is one of the fastest expanding sectors in America, with individual states licensing and regulating their own sportsbook markets, as sports betting in Florida is soon to arrive and sportsbooks are already keen to take advantage by using expert sports betting sites to promote their welcome bonuses.
The Amazon Associate Program has also ensured niche e-commerce remains one of the fastest-growing markets for affiliates too, making it easy to direct users to relevant products from an inventory of millions of goods and services.
A review of the affiliate marketing landscape by 99firms found that over a third (35%) of affiliate marketers earn over $20,000 per annum from their endeavors. So, why should an affiliate or referral marketing be at the top of your digital marketing hit-list in 2022?
It’s Easy to Scale Up
Affiliate marketing can quickly snowball once you have proven the concept. Once you’ve ascertained that your audience is engaged with certain products or niches, you can scale up the products you advertise. This doesn’t mean going crazy and upselling any accessory or service. It’s still best to hand-pick those items you personally recommend and have in-depth knowledge of.
It’s Not Difficult
Affiliate marketing is one of the simplest forms of digital marketing. All you do is promote products or services. You don’t have to worry at all about the fulfillment of customer transactions or orders.
Just explain why you recommend it, direct users, to a site where they can get their hands on it via an affiliate link, and rake in the commission.
It’s an Opportunity to Generate Passive Income
Affiliate marketing is a cost-effective way to make money online. Most affiliate networks do not charge websites and content creators a fee to join their networks.
If your platform already generates a substantial amount of traffic, carefully selected and positioned affiliate advertising and promotions can generate ongoing passive income for months and years to come.
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