This is a big dilemma that many people face when entering the world of online selling: should I become an affiliate marketer, or should I create and sell my products?
Affiliate Marketing VS Product Creation (Comparison)
Many marketers will say that affiliate marketing is the easiest way to start making money online. You can choose a product with a WooCommerce product video that you want to promote, sign up as an affiliate, and start sending traffic to your sales page, and BOOM! You are making money. It sounds simple. You don’t have to deal with creating a product, setting up websites, communicating with customers, etc.
At the same time, some markets say that building your products is easier and more efficient than affiliate marketing and allows you more control over your business. It depends on your strengths and weaknesses and what you want to achieve in your industry.
Let me get some pros and cons of each and put things into perspective so you can better understand where you want to start.
In this business model, you will generate income by referring customers to someone else’s products or services. You will sign up with the seller as an affiliate, and you will pay a commission for every sale you make.
Pros of Affiliate Marketing
1. No Monetary Investment
You don’t need to invest in anything to become an affiliate marketer. No charge, nothing. You need an Internet connection and a computer to have a website, and you’re done.
2. No Time Investment
You don’t create something out of shame: you promote what someone else has already done. You do not need to spend much time and effort creating a new product. You are simply promoting this product so that customers see and buy it.
3. No Customer Service
Customer service is not your problem: it’s the customer’s problem. All you have to do is make a purchase. Once you’ve made a purchase and the customer has been redirected to the customer page, your job is done.
You can promote as many products as possible from different retailers and in various niches.
Cons of Affiliate Marketing
1. No control over processes
In the end, all actions after receiving traffic from your advertising efforts remain in the hands of the brand. If their customer service or website conversions are not good, you could lose commissions. Others are responsible for the sale. In other words, choose the installation program carefully.
2. A customer list that doesn’t belong to you
In addition, you will spend time creating a list of clients you referred to another client’s website. However, this list of clients is not yours. You will not be able to sell your products to these customers. In other words, you are helping another client access clients they can use in the long run.
3. A highly competitive environment
It can be easy to be a part of an affiliate marketing program. However, being a successful partner is not a walk in the park. You will be competing with many other partners who may be promoting the same products as you. Although buyers will read the article, it does not mean they will always come to you.
4. Growing other people’s business
If you don’t know what you’re doing and promoting the right affiliate products, you’re helping other people build their businesses, not you. That’s why it’s essential to create an email list. You want to take control of your audience before sending them an affiliate offer.
This business venture speaks for itself; you will create a product and sell it on the market for 100% profit. In this example, we assume your product is a product description type.
Pros of Product Creation
1. Building your customer list
Your client list is significant. People who have bought from you are likelier to purchase from you in the future. By selling your products, you build a customer list; if you have a partner, they also help you create a customer list.
2. Full control
When you create and sell a product, you will have complete control over information such as prices, promotions, features and features, updates, and the sales page. You can make decisions based on what benefits you and the customers of the product.
3. Keep 100% of the revenue
Instead of just getting a percentage of the sale as if you were an affiliate, you will earn 100% of the revenue when you sell your product. Of course, if you choose to affiliate, you have to pay them a commission on income, but it’s up to you if you want to offer an affiliate program.
4. High-income potential
While affiliate marketing offers great potential, so does selling your products. Selling your products can be more rewarding than being a good affiliate marketer, especially if you have good partners to promote your business. Your income can increase as you build your customer list and offer more products.
Cons of Product Creation
1. Financial investment
The development and production of products for sale require prior approval. You can cut your costs if you are satisfied with the process. However, to get started, you still need a certain amount of money that you need to have.
2. Demands Commitment
Another disadvantage of selling your products is that this process requires complete honesty. It takes a lot of time compared to affiliate marketing. You need to think about product development, construction, sales on your website or other platforms, pricing strategies, sales activities, customer relations, transportation, management, and more.
3. Need some expertise
Promoting products as an affiliate does not require domain knowledge, but creating and selling your products involves knowledge. To create a great product, you need to know the subject well and also know and understand the people who will be buying your product.
I want to emphasize one thing: no matter what you do, it takes time, effort, and hard work. Don’t fall into the trap many beginners fall into, always looking for the following plugin and game to play. And there are many “gurus” who buy the new community and give wrong products that promise millions overnight with beautiful sales pages, and you still love them. PUSH!! Write a business plan, decide what you want to achieve, find a respected mentor you want to follow, and get to work! If you’re planning to get into affiliate marketing then make that you start it off right by following my genuine 7 STEP AFFILIATE MARKETING GUIDE