There are many viable business people engage in, both offline and online to increase their earnings. Some of these businesses are affiliate marketing and network marketing. Choosing the marketing scheme to engage in, however, has proven to be a dilemma as they both offer similar benefits. Let’s look at what both marketing schemes are, and what are their differences.
What is Affiliate marketing?
Affiliate marketing is an avenue of making profits online, promoting other businesses’ goods and services. An individual can do this using various channels like blogs, social media, and personal websites. This marketing operation involves getting stipulated commissions from products you are marketing for the owners. There are three parties involved in affiliate marketing, they are, the firm, the affiliate marketer, and the customer.
Benefits of affiliate marketing
There are several pros of using affiliate marketing, they are:
- You decide the product you want to market. You get to choose which service or product you should promote using different techniques available. It’s safe to say that you don’t do much selling, all you do is show customers a link they can use to get a product, and you start raking profits.
- It is a cheaper avenue of making online money. Affiliate marketing remains a very affordable business, anyone can do it. This is because the capital is small to start while the profit is enormous.
- Most affiliate networks are free to join.
The latter also supports the idea that anyone can do it, from students, graduates, and low-income earners.
What is Network marketing?
Network marketing is also known as multi-level marketing is a business operation that is quite similar to affiliate marketing, however, there are some crucial differences. With network marketing, you need to get more individuals to register for the service or products you are marketing.
Benefits of Network marketing
Here are some key advantages of engaging in this business model:
- This business will make people who are sales-oriented rich. This happens, especially if those you recruit are loyal and also recruit many people.
- Network marketing offers a good avenue to get side incomes. It doesn’t stop you from leaving your full-time job, as many use network marketing to augment their salaries.
- You can engage in network marketing from your house and remotely.
All you need for that is an internet-enabled mobile device or preferable a PC and a fast internet connection.
Affiliate marketing vs network marketing
Knowing which particular model to choose is a dilemma for individuals, here are some key differences:
Choosing Goods to sell based on your needs
Affiliate marketing allows you to decide which niche or services you want to promote. An individual gets to pick brands to partner with and chose to endorse. However, this isn’t so for network marketing. You only market products and services that the firm offers.
Affiliate marketing allows you join without paying a dime and this makes it easier for anyone to join. However, for most network marketing businesses, there are joining fees and others attached.
Control over advertising
With affiliate marketing networks, you get to have control over how to sell by using unique tracking links. For network marketing, there are a plethora of avenues for marketing which include, posting links on your social media, phone calls, and email.
Choosing between affiliate marketing and network marketing isn’t an easy decision to make. However, it is obvious that one business model has better prospects.