Newbies enter this profession with very high expectations, but when they can't earn more money, they become demotivated. The average affiliate conversion rate is normally around 1%. This percentage is an estimate, since many affiliate marketers will keep their affiliate conversion rate to themselves. So I rounded up some of my most embarrassing mistakes that resulted in my failure at affiliate marketing and what I learned from them.
In the name of full transparency, please note that this post also contains affiliate links and any purchases you make through those links will result in a small commission for me, at no additional cost to you. In a Business 2 Community post, the average conversion rate for affiliates is said to be 0.5% to 1%. However, you also quickly realize that some affiliates have much higher conversion rates. Here are some general affiliate marketing statistics that will give you an idea of where the industry is today.
Creating an affiliate marketing program can lead to increasing brand awareness, improving lead generation, and increasing sales without spending a large amount on advertising. Many newbies have painfully experienced these scams and gave up before they had a chance to see the true potential of affiliate marketing. The key to affiliate marketing is to find products that you truly believe in and that are relevant to your audience. You mention an excellent point that, ultimately, people fail for “internal reasons” and not because affiliate marketing doesn't work.
With the numbers so significant, it's no surprise that affiliate marketers are using social media to connect with specific audiences. Some of those who start doing affiliate marketing from their own website or blog, which I highly recommend, see the first results after a couple of months. Because after not being able to earn real money in the first few months of blogging, and almost giving up, I revised my approach and made affiliate marketing one of my main sources of income that flow from my blog. Therefore, these numbers could only serve as a reference for evaluating whether your affiliate marketing program is effective or needs improvement.
And while the numbers come from different sources, they should be enough to tell you where affiliate marketing is headed. This information can help you decide if you should start or continue doing affiliate marketing activities. Affiliate marketing is hard work and only pays off if you can match your product to your audience. As consumers buy basic products, home devices, technology devices and services over the Internet, companies are discovering that affiliate marketing is an effective way to connect and promote their brand.
However, the same source is quick to point out that 64% of publishers say they haven't been able to meet their affiliate marketing revenue goals.