6 Ways To Fail With Affiliate Marketing
If you’re getting into the online business world, everyone has to start somewhere. One of the best places to start is with affiliate marketing. Affiliate marketing is when you promote and sell other people’s products and services on the internet and get paid a commission when somebody buys them. Many top internet marketers still sell affiliate products, even though they do very well selling their own.
But if it’s so easy, why do people fail with affiliate marketing?
1. Not Building A List
There is a well known saying in affiliate marketing – “The money is in the list”. This means the list of names of people who are your prospects and leads. One of the most important affiliate marketing jobs is to get people to opt-in to your mailing list first. When promoting a product, don’t send traffic just to an affiliate link.
Virtually everyone who would have purchased the product will opt in to your mailing list. And many who definitely would not have purchased the product will also opt in to your mailing list. Instead of converting at a rate of around 1-3% in affiliate sales, you will convert between 15 and 40% of visitors to your mailing list.
Once they are on your list, you can contact both the willing buyers and the more reluctant ones again and you have the opportunity to promote other relevant products or services. In affiliate marketing, one of the best tools you have is your list. Always, use your list over the one-off sale.
2. Promoting A Bad Product
You have to carefully select the product that you are going to promote. There are thousands of products and services available to sell and if you’re looking for the best affiliate marketing program to suit you, try places like Clickbank, JVZoo and WarrorPlus.
Rather than randomly choosing to product with the highest commission, look for ones that are popular and have a high gravity rating (at least above 30). If lots of people are buying certain products often,it shows they must be better than other products for sale within that niche. Focus your affiliate marketing on products that people want at a time when they want them.
Before you start promoting any particular product, read the sales page carefully and compare it with others. Do you feel compelled to buy? If not, why should your customers? Check the product sales pages to find ones with great copy, good bonuses and reasonable prices.
3. Selling Dodgy Products
If you have taken the time and money to build a list of potential customers, you don’t want one dodgy product promotion causing a lot of people to unsubscribe. Carefully check out anything before you promote it to your list and avoid affiliate marketing scams that promise the buyer that they will make millions in a few weeks for doing little or no work.
4. Promoting Products That Offer Low Commissions
If you’re marketing to a list of people, they’re only going to consider so many product offers in a given period of time, so select the ones you promote wisely. Ideally, you want to promote a product that offers a 50% to 75% commission. If the commission rate is lower, see if the product pays a recurring commission. This could be something like a software licence or a membership website. Although the upfront sale might be a little lower, it does means that you do the work once and then get paid every month that the buyer stays with the product and can make you much more profit in the long run.
5. Ignoring The Importance Of Building A Relationship
Successful affiliate marketing is more than throwing some words together with an affiliate link and emailing it out to a few thousand people. If you expect people on your list to actually buy, you need to continually provide value. Just blasting out ads all the time will not get you many sales.
Here’s one of the most important affiliate marketing tips I can give you. Don’t think of affiliate marketing as just being about selling. That’s the job of your sales page that your affiliate links lead the reader to. Affiliate marketing is about helping people solve a problem. Think of it as helping rather than selling and as people become to trust your judgement and knowledge within your marketplace they will be more inclined to buy the products that you recommend.
6. Ignoring The Numbers
Many affiliate marketers fail to make many of the small calculations needed in order to run an online business and make a profit. If you’re paying too much for traffic, if your conversion rates are too low or if you put too much time into projects that don’t have high returns, the results will not be good.
There are lots of affiliate marketing software programs that will help you to keep track of your conversion rates, clicks, and sales. Knowing, understanding, and tweaking these numbers could be the difference between profit and loss.
winning affiliate marketing STRATEGIES
Affiliate marketing can be a tricky and complicated process from finding the right products to sell to finding the right customers to buy them. To learn how you can quickly and easily get your online business moving with, not only with effective affiliate marketing strategies, but all aspects of online marketing check out this FREE 7 day bootcamp.