Have you toyed with the idea of getting into affiliate marketing but weren’t sure how to begin? Many people make a go of it and do well, but a good number of first timers become frustrated and give up when they realize that, just like any other job, it takes hard work and perseverance to earn money this way.
Sure, there are plenty of online seminars and bootcamps that promise to teach the secrets of the trade, but some are set up to do nothing more than extract money from eager entrepreneurs.
One of the smartest ways to break into the affiliate field is to know about the downside. Then, if you do enough research, pick a product that excites you, learn how to drive traffic to your site, get a handle on your key demographics, market yourself well, study the art of advertising, and don’t try to spread too wide of a net, you’ll have a much higher chance of success.
There’s a lot to do, but patience is probably the number one quality you’ll need as you proceed. Learning from the mistakes of others is often the best way to master something. Check out the following pitfalls that successful affiliates mention most often. By knowing what not to do, the correct way will inevitably open up and invite you in.
Failing to Do Essential Preliminary Work for Affiliate Marketing Success
As with any other serious money-making effort, you have to do preliminary research. In this case, that entails comparing dozens of payout percentages, business arrangements, competition within the niche, and potential start-up costs. Note that most affiliates don’t have high expenses when they begin.
The cost of a domain name, setting up a website, and perhaps some advertising fees are all you’re going to encounter for the first several months. However, if you jump into a crowded, intensely competitive segment, you’ll regret skipping over this investigative stage.
Choosing the Wrong Niche, Product, or Service
By far, the most devastating mistake is selecting a product or service based solely on the profit potential or commission percentage. The core principle of affiliate success is understanding and feeling good about the thing or things you are promoting.
But no worries, there are plenty to choose from. Consider exploring ideas within you own specialty or in categories that interest you. If you’re a pre-med student, for example, perhaps you can work with firms that sell home-health devices, nutritional drinks, or exercise equipment.
You can choose the most in-demand products by using online tools. For instance, you can use filters to narrow down your search, depending on your product category of interest. You can also use this tool to figure out where your business is currently standing and to learn about acceptable industry-tested methods to attain your desired key performance indicators (KPIs).
When signing up for an affiliate program, you should consider the following factors to help you decide if you’re ready to promote a particular product:
- Promotional matters, such as promo code generator
- Available banners, like custom ad banners or links
- Affiliate control panel
- Minimum payout
- Tax form requirement
- Payment method or payout requirements
Assuming You Can’t Do It During College
If you think you have to finish college or grad school before taking on this kind of work, you are sorely mistaken. Don’t fall into the trap of deep thinking, “Well, after I get my degree and start a full-time job, I’ll get started with my own website and earn commission sending clients to someone else.”
It’s just a delay tactic at best, and a strategy for failure at its worst. Instead, spend some of your free time while in school to begin choosing a service or product and coming up with strategies for driving traffic to a particular seller’s company.
Not only is this a smart way to earn some money during school, but it’s also a clever way to learn a few basic principles of marketing while you’re at it. Note that it helps greatly to already have your education expenses covered. That way, you won’t be constantly worried about having to bring home a paycheck just to defray college costs.
For young people, the ideal arrangement is to take out a private loan before school begins. Private student loans can take care of all your tuition, board, room, books, and other fees associated with a four-year or graduate degree. You’ll have access to generous repayment terms and competitive interest rates as well. Then, you’ll have enough time to take the first steps to build up your one-person business venture.
Neglecting to Effectively Drive Traffic
If you’ve never driven traffic from Point A to Point B on the internet before, take the time to learn this simple art. Essentially, you’re wanting to attract potential customers and get them to purchase someone else’s product or service. To do that, you have to know how to embed links in our own pages, how to attract the appropriate demographic, and how to weed out casual visitors.
Driving also includes the concept of search engine optimization (SEO). Make your that you have SEO in place so more people will be able to see your content. This digital marketing strategy includes proper keyword research and selection, link building, and creating unique and informative content. SEO also can boost your unpaid traffic, increasing your website’s visibility, and eventually, your affiliate marketing sales.
If you’re a loner who expects to stay home in front of a keyboard and monitor, you will have a hard time breaking into this line of business. Profitable affiliates not only work social media but also work hard at face to face marketing.
They join community business groups like the chamber of commerce, trade associations, charity organizations, and volunteer clubs. Remember, even though your main source of profit comes from driving customers to someone else’s products and services, you need to run your own end of the operation as if you were the sole owner.
Spending Too Little Time on Your Website for Affiliate Marketing Success
Depending on your service or product segment, it can take up to a year before your website is competitive enough to attract buyers and drive sales. If you’re not a website-building pro, that’s okay. Just be sure to hire someone who can design an effective site for you and can teach you how to tweak it as needed. In the beginning stages, you should expect to spend the majority of your time constructing and refining the website.
Using Too Many Affiliates
There’s a common temptation to sign up with as many affiliates as possible. The assumption is that the more, the better. It’s a trap to be avoided. The problem is that you need to focus on as narrow a niche as possible. Signing on with too many partners spreads your efforts out too much, and you end up going nowhere. Decide on between one and three solid, suitable business partners.
By using only solid and reputable business partners, you can focus on creating content suitable for their products. Thus, you won’t waste a lot of time and energy on affiliates not worthy of your investment.
Do you know your target demographic? You should spend time defining this all-important group of potential customers before you begin building your website. A few hours of good, old-fashioned research will do the trick.
Find our who buys the service or product in question, their average age, their typical educational level, their political beliefs, their buying habits, and more. Understanding your audience will save you hours of time and effort when it comes time to advertise, create marketing pieces, and create relevant content. Hope your effort will lead you to your expected affiliate marketing success.
Now, you have learned the importance of identifying the hidden obstacles to affiliate marketing. Exploring ideas through careful research, face-to-face marketing, driving traffic, using a manageable number of affiliates, not ignoring demographics, and spending time monitoring your website are just some of the ways to overcome those obstacles. For a more successful affiliate marketing, apply the tips shared in this article.