Are you just starting with affiliate marketing? If yes, you need to know about the 12 ways newbies can fail as an affiliate? Knowing this may help you avoid these pitfalls and take you one step closer to success. Read on!
Affiliate marketing is one of the most popular online business models for newbies. It is easy to start, you don’t need a lot of cash upfront to get going and can be extremely lucrative when done correctly. However, many aspiring beginners fail because they underestimate the effort it takes to be successful in this business. If you are a newbie who is just getting started with affiliate marketing, here are 12 things you want to know so that you can avoid failure in your venture.
Focusing Only On the Big Money
Looking to promote only the product with the highest commissions may seem like the logical thing to do if the product that you will be promoting is of high quality. However, there is also a lot of junk which carries high commissions and as someone who is just beginning in the industry, you may not be able to differentiate between the good ones and the bad one. Therefore, if you are only choosing based on the commission and discarding the quality, you run the risk of losing your credibility with your buyers. That being said, if there is a quality product that pays a high commission, that would be a perfect product to promote.
You need to start building a trusting relationship with your visitors especially when you are starting. You don’t want to come across as someone who doesn’t know about your promotion. Look for quality and you are strongly encouraged to use the product yourself so that you can provide a more authentic review.
Don’t Build a List!
One of the worst things that you can do is leave money on the table. Which means you are not capitalizing enough on your profits. If you are just sending traffic directly to your affiliate traffic page then you need to stop! By doing that, you will lose each of these visitors forever as they will not be returning to your site again. Focus on collecting and building your email list which is vital to your long term success. Every visitor that comes and visits your page is a potential repeat customer to you. There is an opportunity to upsell, down sell and market other products to them in the future – over and over again!
You need to understand the basics of list building so that a pipeline of customers is readily available for you. Having a mailing list allows for trust-building which creates customer loyalty. Of the 12 reasons you can fail as an affiliate, this one of the most important ones that you need to avoid. Start smart and build your e-mail list first before you do anything else.
Trying Too Many Products
It’s easy to get excited with the latest and greatest affiliate products that constantly flood the market every day. When you start with too many products, it gets very overwhelming. There isn’t enough focus to set up one campaign properly.
As a new beginner, you want to make sure that during the early phase, the learning experience in understanding how this business model works is more important than grabbing as many affiliate links possible hoping that a few of it may bring the money in. This type of ‘gunshot’ approach will only make you fail. Pick just a few products, learn how to set up your first funnel properly, master that knowledge and then add more as you get better at understanding how affiliate marketing works. For a newbie affiliate marketer – ‘less is more’.
Trying To Promote Low Converting Products
Some products just sell better than others due to demand, quality, etc. If you cannot identify which are the products that have the potential to make you money then you may end up spending a lot of time trying to promote something that people just don’t want to buy.
Therefore, conversion rates are very important and you need to be able to evaluate and monitor the conversion capability of your promotion. Choose products that you have tried and liked that pays a good commission, look at how many have bought the product and how many people are promoting the product. In the beginning, you may need to do a lot of research to determine the right choice for your website or blog. Your patience will pay off in the long run.
Overkilling Your Sales Approach
You are obviously in affiliate marketing to sell. However, if you start bombarding your visitors with all sorts of offers, fill up your site with flashy banners and other advertisements then you are going to annoy the potential buyers. Nobody likes to be sold on. People buy because partly they trust the seller. A trustworthy seller is seen as a person who will only recommend good quality products. Credibility drives sales.
Therefore, when you keep pushing your sales pitch onto them, you will be regarded as a salesperson who just wants their money and this is a turnoff. You will start losing your visitors and over time, your business will fail.
The right thing to do is only promote quality products and space out your promotion. Instead of sending a new offer every day, send once a week. In between, give them free info about the product that you are going to promote. Also, keep your site clean and simple which gives it a professional look. Also, the load time of a simple website is much faster in comparison to full graphics loaded websites. All this helps to enhance your credibility.
One of the most important reasons newbies fail in affiliate marketing is they just don’t have the right expectation of the business from the very start. Despite what you may have read, heard and seen, this business is not a get rich quick platform. If you are thinking that you can just set up a site, post a few reviews, press a button and the money will just pour into your bank account then you might as well just quit right now because this is a classic recipe for failure.
Affiliate marketing requires you to invest your time and energy. It takes a lot of work and the competition is fairly stiff in most areas. You’ll have to go through a steep learning curve to build the required expertise but once the groundwork is laid, you can begin to reap the benefits of an on-demand income stream.
Broke mentality refers to an affiliate who wants to be in business but they do not want to invest in anything. They want the great lifestyle and the money that comes with it but are reluctant to put in the money to get the right tools and get the right education to help them succeed. You may think that there are plenty of free resources out there that can help you and that may be true but free resources are always limited in its capability.
You need to hustle and find the resources that are required to make your business successful. If you always think that you don’t have the money to invest then how will you achieve success with your business? Remember, the issue is never the resource, its resourcefulness.
Trying To Do All By Yourself
Newbies often get overzealous with the prospect of making money and just go at it. As someone who is just beginning to learn this business, you need guidance. You need to learn from someone who has already done it or learn from resources that can help enhance your knowledge. However, when it comes to information on the internet, they are usually in bits and pieces. It will make it very hard for you to see the entire picture.
There is a proper system in affiliate marketing that most newcomers don’t understand. That is one of 12 main reasons how newbies can fail in this business. Without setting up a proper business system, you will only be hoping to get lucky. You won’t be able to automate your system to take care of you and your customers.
Just Going For the Popular Niche
Most of the marketers who start tend to gravitate towards the most popular niches which are also the most lucrative in terms of the number of products and commissions. Niches like health, relationship, online business are considered evergreen and attract the most amount of marketers. If you decide to take this route then be prepared to face some stiff competition from the experts. Most likely you will not be able to compete with their credibility, online presence know-how.
Hence, when you are starting, it would wise to choose a niche that is in demand but does not belong to the category of the most popular niches. Topics such as dirt biking, outdoor camping, binaural beats have the demand but with lesser competition. You would stand a better chance in making sales in a less competitive niche and establish yourself as a competent online marketer
Chasing after the ‘shiny object’
Entrepeneur.com defines the shiny object syndrome as the entrepreneurial equivalent of a small child chasing after shiny objects. Once they get there and see what the object is, they immediately lose interest and start chasing the next thing. For entrepreneurs, rather than literal shiny objects, the object may be business objectives, marketing strategies, clients or even other business ventures.
If you are part of this group then you are your worst enemy. You will never get anything done completely and you will jump from one product to another product without putting enough effort to see it through. So guess what will happen? When you keep moving to the next best opportunity, you spread yourself too thin and the results will not come in.
Being aware that you are easily distracted is vital in managing this syndrome. Be committed to choose one business model, pick one good product to promote and build your affiliate promotion funnel until it’s complete and then move on to the next product.
Don’t Know How to Drive Traffic
Traffic is the lifeblood of any online business. Affiliate marketing is a number name and if you don’t know how to drive potential customers to your affiliate site then there will no sales. There are many different ways to drive traffic such as YouTube, Facebook ads, email lists, etc. Most newbies fail to master this very important knowledge and as a consequence, they quit when no sales are made over time. Once your affiliate site has been set up, driving traffic will be your most critical job. Ask yourself this question, “do I know how to drive traffic to my link”?
Another failure factor is depending on just one source of traffic. Putting all your eggs in one basket is an invitation for disaster to happen. Let’s say that you drive your entire traffic from Facebook and suddenly Facebook changes its algorithm, your entire source of traffic will be lost and you will have to start all over again. Having more traffic sources also increases your presence online and it creates more following.
Not Consistent Enough
Consistency is what newbies are lacking most. When you don’t put out daily content and provide value in your content then it will be very difficult for you to drive and convert visitors to your site. If you post once or twice a week then you are not pushing enough content to the potential buyers. If your content is weak then you come across as something who doesn’t know your stuff and just wants to make sales. Procrastination is the number one enemy here and time management is going to be vital for you to address this effectively.
Affiliate marketing can potentially change your financial life for the better if done correctly. Despite being one of the most popular business models, the failure rate of newbies in this online opportunity is very high. Lack of business knowledge, having the wrong business approach and have the wrong attitude outlines the 12 reasons how newbies can fail in affiliate marketing. Understanding how to avoid these mistakes will make you a successful affiliate marketer.