There is good and bad news.
First, the bad news:
The odds appear to be stacked against our success as affiliate marketers.
Fortune Magazine reported that 9 of 10 startup businesses fail and anecdotal evidence suggests that 90-99% of affiliate marketers fail.
The Fortune report is based on business owners writing about their failures and what lead to their failure. The causes of failure are listed below.
When it comes to affiliate marketer failure, the number of failures appear to be wild-ass guesses. I did not find any confirmed sources of failure data.
But it does get better.
The U.S. Bureau of Labor Statistics shows a consistent survival rate of new businesses over the years. The failure rates are not as dire as shown above. The following chart shows the survival rate data based on a number of years since business inception.
Now, for the good news:
The #1 reason for startup business failures does not apply to affiliate marketing.
The following chart shows the top 20 reasons why startup businesses fail. At #1 is a lack of market need for the product.
(Source: Fortune)
As affiliate marketers, we get to choose which products to promote. For the most part, the products have already been researched, developed, tested, and proven in the marketplace.
However, some niches like the make-money-online niche have many scammy digital products entering the marketplace that are designed and promoted by the developers to make a "fast buck."
Affiliate marketing also has the advantage of having a low-cost entry point. It takes little capital to start an affiliate marketing business online.
Conclusion
Choose wisely.
For more about affiliate marketing, visit my blog https://homebusinessforveterans.com/blog
