As you are likely already aware, on your quest to find a viable means of making extra cash, you have a wide variety of options available to you. Here, we’ll be discussing two of the most popular ones; Dropshipping and affiliate marketing.
Affiliate Marketing – What It Is
This is the process by which you enter into an agreement with a company through an affiliate program. You help them find new customers and make a pre-established list of conversions. In return, they give you some sort of commission!
The benefits of affiliate marketing is that it gives you a measure of reassurance and confidence to operation since you won’t be shouldering the operational costs of the company you’re an affiliate with in any way.
Dropshipping – What It Is
When you’re considering this means of making money, you should be aware that it involves listing the products on your website. You’ll be the one to take orders and either secure a warehouse or, as is more common in this instance, you liaise with a dropshipper to help you handle the finer parts of the logistics of shipping.
Similarities between Dropshipping and Affiliate Marketing
- In both instance, you’re responsible for advertising the product to potential customers.
- You do not need to bear the responsibility of getting the product into the hands of the customer.
- You can earn a limitless about of money with both options.
- They are essentially low-risk business models that won’t put you in the traditional role of a risk taker.
Which is the Best One for You
Both of these business models have their pros and cons. And, ultimately the one you go for will be determined not by the qualities of the business model but by your personal preferences!