A Quick Way to Make Money?

Is Affiliate Marketing a quick way to make money? This is arguably one of the most frequently asked questions which people pose concerning such an industry. Usually asked by those searching for a new job, finding an extra source of income or who just want to make quick money, this is the question which I aim to tackle today. As the rather colloquial saying goes: "No pain, no gain", Affiliate Marketing is definitely no exception, requiring time, effort, and in certain cases, investment. The following paragraphs then, examines what exactly is Affiliate Marketing, its pros and cons, and despite the effort required, why I still believe it is a quick way of making money.

Firstly, what exactly is Affiliate Marketing? It, in simple terms, is basically a business practice in which businesses pay affiliates; people who in this case leads customers to websites owned by businesses. They are usually paid through third-party programs, who act as an intermediary between businesses and affiliates. But here comes the problem: payments are only acquired upon successful sales, something which in many ways resemble a commission. Thankfully though, these payments, due to the vast amounts of web users, do add up, and can in turn bring in huge amounts of money, with some earning up to several hundred thousand in a month, although some earn negligible amounts.

Secondly, the size of the industry is huge, with affiliates worldwide earning US$6.5 billion in commissions and bounty in the fiscal year of 2006 (MarketingSherpa). This is turn has increased substantially over the past few years, as the number of web users and thus potential customers have doubled from approximately just over a billion in 2006, to over two billion users as of March, 2011 (Worldinternetstats). This highlights the potential of the Affiliate Marketing industry, and just how much money can be made, which is another main concern of potential affiliates.

Now, onto the next issue concerning its pros and cons. Affiliate Marketing, as all other industries, has its own advantages and disadvantages. This is however, subjective, differing based on a person's opinion and preference, and thus I will be examining this from a more general perspective.

Affiliate Marketing certainly has its fair share of advantages. Firstly, there is the perk of having lesser and more flexible working hours, needing only to promote and advertise the business which you are linked to. This usually requires only a few hours a day, which makes a viable option for a second job, but yet can still turn in a tidy sum. Secondly, working in the Affiliate Marketing industry can generate a huge source of income, if and when the correct methods are used. Also, it is often free, usually only requiring your time and effort. Yet another perk, although usually overlooked, can be important to some, being that it is a freelance job; you won't have any superiors, thus there is little pressure, and you can make your own decisions.

However, Affiliate Marketing definitely has many disadvantages too. It is hard to learn efficient ways on Affiliate Marketing as a greenhorn, as there are many diverse methods which can attract consumers, and if methods such as pay-by-click advertising are used incorrectly, it can lead to losses instead of gains. Another disadvantage of Affiliate Marketing is the unstable rate of payment, which can be a problem with those looking for a stable job. This is so as you can earn a negligible amount in the first month, while an exorbitant amount in the second month, reinforcing that the profitability of entering such an industry is heavily based on consumer preference, and also, chance.

In light of all these characteristics of Affiliate Marketing, despite its disadvantages, I still believe that it is a quick way of making money. This is so as firstly, the effort needed pales in comparison to normal jobs, and unlike normal businesses which require investments and huge amounts of time to even break even, Affiliate Marketing requires little to no investment. This consequently implies whatever you earn can be considered as a profit. Profits, based on your performance, can also be earned as quickly as day 1. All this adds up to make it rationally safe to conclude that Affiliate Marketing, is indeed a quick way of making money, but also only if one knows exactly how to go about doing it.