Apr 07, 2022
In General Discussions
There's a lot of misinformation out there about what affiliate marketing can and can't do in terms of merchants. We're here to dispel them, as these myths can be a barrier to entry for many SMBs looking to start an affiliate program. They've heard from other businesses that have had bad experiences, and now they're reluctant to try it out themselves. It happens all the time, and it's an easy way to keep money on the table. Here are 6 affiliate marketing myths you shouldn't believe. Affiliate marketing is too old school. Yes, the concept of referrals and affiliate marketing has been around for as long as there is something to sell, but there's a reason: it works. Everyone wants credible reviews before buying, and in addition to friends and family, people look to online reviews and social influencers for advice. According to AdWeek, 92% of consumers believe that influencer recommendations are more authentic than ads. Affiliate marketing is not out of date. far away. We live in a time when: Public brands and advertisements cannot be trusted Ad blockers affect one-third of internet traffic More people are shopping online Currently, reports show that affiliate industry mailing list affects 14% of e-commerce purchases in the U.S., and that percentage is growing every year, and 91% of merchants who currently use an affiliate program to increase or maintain their spending levels. Far from being "old school," we think affiliate marketing is about to take a big leap forward. Affiliate marketing is fraught with fraud and shady practices. Just like anything else in the business world, people can and will abuse the system. We've written about how to protect yourself from fraud before. It happens, and it's important to check your metrics diligently and nip fraud in the bud. However, merchants who have heard horror stories of league fraud should calm down; it's just not as bad as you might think. While firm numbers are hard to come by, one source said the percentage of fraud in all performance-oriented transactions was 2%. In contrast, Forrester found that "in 2016, as much as 56% of display ad dollars were lost to fraud or unseen inventory." Even if you quadruple the amount of fraud in affiliate marketing, it's still far lower than the amount of fraud in other advertising channels. Also, no matter how much fraud there is in affiliate marketing, most of it comes from joining an existing affiliate network.