Mistakes affiliates make result generally from a lack of knowledge. Yes, we know there are many ebooks showing affiliates the way to go. But remember, even the gurus had a learning curve. Gurus made mistakes too.
The key for affiliates today is to learning as much as they can even before they join affiliate programs. The major portion of affiliate sales are raked in by only 5% of the affiliates! That 5% drives 20% of annual revenue according to publishers. So don’t let that information discourage you. The pie is huge and growing.
Newbies especially, be encouraged. Here is the other side of the coin! An Independent Survey Commissioned by Rakuten to Forrester Consulting, estimates this unique industry will grow to $6.8 billion by 2020. No one affiliate is getting all that. There’s plenty to go around. So if you’re looking at joining the Affiliate Network now is the time! Walk don’t run, take your time, and learn the ropes. There is hope for all! But try to avoid the following:
Affiliate Mistake #1
When you promote, be sure to promote the product. Nothing else, just the product. Let the wealthy people who captured you into their program be concerned about promoting the program. You just focus on selling the product. That’s what affiliates do.
While you’re at it, endorse the product. You are your chief weapon in your marketing arsenal. Did you know that? Well you know it now. Tell them about the product. Let them know how it has benefited you. If you don’t have the product, then start looking at reviews until you feel you know it forwards and backwards. It’s not enough to talk about it. You have to convince your prospective customer you “know” it. Then endorse, endorse and endorse some more!
Affiliate Mistake #2
Stay away from the heavy hitters. If your specialty in the offline world was marketing that doesn’t mean you’re going to be great in the online world. Swim in the waters where the small fish are first.
As you learn a few online tips and tricks, then you can wade into deeper water. But don’t go out too far! The deeper waters of the Internet are known to be shark-infested.
Affiliate Mistake #3
Are you capturing names and addresses? No! You’ve gotta be kidding me! You’re letting money slip through your fingers. Answer this? Would you rather buy from someone that you trust, or someone that you don’t trust? Yeah! I figured so.
So many start off buying into programs with no clue about how to even do due diligence. The thought is the program is going to do it all for you and it will teach you how to do it. If there is one thing to remember in affiliate marketing it is this. THE LIST IS KING!
If you do anything, learn how to create your list. Without it, chances of any significant money is not likely to happen. Learn how to collect those emails and start to build some trust with your very own list. Take your time with this. Don’t rush your subscribers because they are your gold. Don’t bug them either. But start work on that list immediately.
Affiliate Mistake #4
Keep track of the promotions you do. Set up an Excel spreadsheet to do this. Some will be duds. There’s nothing worse than throwing money after an unprofitable promotion. What makes it worse is that you may have a profitable promotion that you aren’t paying much attention to but should be. That will be easy to spot on a spreadsheet where everything is organized in a fashion easy to read trends.
Affiliate Mistake #5
While you’re working on your affiliate programs what’s happening with your own product? What was that? I didn’t hear you? No? You don’t have one? Okay, what do you like to do? Quite frankly you can pursue what you are passionate about. Being creative is the key. Think out of the box. While you may not be able to create a product to sell ice cream online, become an affiliate for a company that does.
So there is something you can do. Everyone on the topside has a gift. Is it plumbing? Gardening? You must have something up your sleeve. If it’s something you’re passionate about, and it works online, you may have arrived. The key to making it work, is “dare to do what you love to do.” But you won’t know until you take action. So often an idea that begins as something seemingly simple, morphs into a Napster, or Face Book.
Let’s be realistic. You’re going to make mistakes, because you’re human. Allow me to encourage you with this; there is more money out there than the mistakes you can make. Remember, $6.8 billion? You’ll be an expert one day. And when that happens you won’t be able to get out of the way of those affiliate commissions.
Affiliates sell products others create. Eventually every affiliate learns how to create their own. ClickBank is full of vendors who have done just that. Keep in mind that you can promote hard products for Amazon, Walmart, Target, and many many others. Digital products may capture your fancy. Simply because your customer gets an immediate rush seeing it in their inbox. No waiting for delivery. High anticipation. Low anxiety.
Starting out as an affiliate where you are paid based on someone clicking on your ad, link, or from an email, will get you paid one time. However this doesn’t necessarily help you build your list. The vendor benefits from that email. Still, it’s a start. Walk before you run. Getting to the finish line is what matters. Learning as you go will pay dividends beyond what you can imagine right now.
You’ve read this. Now go take action!