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Most of us have come across both affiliate marketing and network marketing opportunities at one point or another. And with so much skepticism surrounding both business models, deciding which one is best for you can be a bit challenging.
As each of these increasingly popular business models has its pros and cons, we compare the two options to help you make the best choice with confidence.
Network Marketing
Network marketing is often referred to as multi-level marketing, as the opportunity allows you to earn various commission levels. You will essentially be affiliating yourself with a brand or product and earning a commission on sales. This type of business model can most clearly be associated with brands such as Tupperware, Avon, and numerous others.
While many entrepreneurs have found immense success with network marketing business models, you will need expert guidance to get started to enable yourself to achieve entrepreneurial freedom .
However, not everyone finds success with network marketing, and some even note losses rather than profits. While many unfairly link this to skepticism, the truth is simply that some are more business-savvy and have inherent sales skills , while others do not.
Affiliate Marketing
Affiliate marketing is an increasingly popular opportunity for those searching for methods of making a secondary income stream. While this business model is quite similar to network marketing, you will only be able to earn one set commission amount rather than climb levels and earn more.
However, because you will be marketing products that you affiliate yourself with, affiliate marketing is more suitable for those who have established an online presence and an online following to appeal to. Like network marketing, you will need a unique set of skills to find success and note a substantial income stream.
The downfalls of affiliate marketing are also similar to those of affiliate marketing; some find success while others simply don’t. However, affiliate marketing could be considered a more modern form of network marketing, with fewer perks and almost no growth involves. However, you will be able to grow your income by affiliating with more products and brands.
Choosing The Right Business Model
If you consider yourself a self-motivated entrepreneur, both affiliate marketing and network marketing can be lucrative opportunities. However, network marketing has been around for decades, while affiliate marketing is relatively new to the world. While each option has pros and cons, there is also no reason why you can’t consider both business models and leverage one on the other.
When opting for network marketing, you will often find that more traditional sales methods are included in training provided by brands, while affiliate marketing is more of a partnership in which you will be expected to navigate your sales without training in most instances. Before making a decision, it is vital to consider your strengths and weaknesses as an entrepreneur while also developing necessary sales and marketing skills to ensure you can appeal to your target audience.
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