5 Reasons People Don’t Make Money with Affiliate Marketing
Making money with affiliate marketing can be one of the most lucrative business models around. However, many don’t succeed for a variety of reasons. The pitfalls that keep a person from success in affiliate marketing can be avoided.
In this article we will look at what I think in my opinion are the five greatest reasons more people don’t see success in the wonderful and flourishing business of selling other people’s products.
The thing to remember is that there is no end of need and there is no end to the products that can meet and satisfy those nagging needs so many people are looking for relief from.
Like many I wanted to take back some of the time I was selling to an employer and spend it differently. As I write this post I am still working with a goal to one day be free to make more independent decisions on how I spend my time.
I am not saying that I don’t like my job because I do. I am fortunate in that regard. What I am saying is, I want more than I am able to get from that job and affiliate marketing is the vehicle.
I have learned some things the hard way over the past two years that I want to share that hopefully will bring some awareness to you as the reader and help in at least identifying the pit when you are in it.
I always say that awareness is 90% of the game. If we are not aware of our situation, we are not able to do anything to better the place we are in. For example, if you did not know about affiliate marketing and the amazing possibilities for change in your life it can provide, you would not be reading this article and would be stuck thinking that there was nothing out there to change your situation.
So, I understand the struggles a person goes through who is working at an online business, and working full time, making time to be with family, and fulfilling other obligations. It is not easy, but I believe the payoff is huge if one can just push through the wall and get to the other side.
5 things that hold a person back from success in affiliate marketing.
This is especially deadly to success. Focus is necessary because without it we are all over the map. I have to confess as I write this I realize that I just started a project without fully completing the one I was working on.
Focus one project at time and complete it and then move onto the next one. Focus is as much of a habit as it is a discipline. When projects are completed before moving onto the next ones you will find that you will begin building an inventory of assets.
Assets are simply the things you create in your business whether it is a product, a sales page, a web post, or an email series. If a project is started and never completed it is no use to you, your business, or most importantly your customer.
Doing what everyone else is doing
One of the biggest traps is to do what everyone else is doing. Think about the last big product that was all over the internet. Think about how everyone is using the same banner, using the same traffic source, and basically making it next to impossible for anyone to make a sale.
The idea that you have to jump in at the launch and make your money and get out is only true if you are doing what everyone on the massive crowd is doing. If you are doing your own thing and you know what to do you can stay in the space long after people have moved on and make money that is often left on the table.
Learn ways to stand out in a positive way. Never put down the competition. I always say when you throw dirt you are only losing ground. On that note, look at your competition as partners and colleagues not as your enemy.
Competition is good. You want to go where the people are but what you need to do is differentiate and stand apart from the crowd. When you get into a niche that is competitive it says a few things that are in your favor.
It says that there is demand, meaning that there are people with a need and a want for the product. The second thing this tells you is that there are products and an opportunity to
Get in the middle of the completion, don’t avoid it. Get in there and look at the products that are available and identify holes in that can be improved on and take advantage by creating a product and put it into the feeding frenzy.
Let me point out, affiliate marketing is not all about selling other people’s products. It goes both ways. You can have other people sell you product and still be engaged in the wonderful world of affiliate marketing.
Care more about the money and less about the customer
This is in my opinion one of the biggest if not the biggest downfalls of anyone getting into the internet marketing space. People often see the internet as a place where money is growing on trees.
The truth is you have to earn money by exchanging something of value the same as you would in a brick and mortar store. The idea that people are running around with their credit card in their hand looking to give away money is crazy, but I must say, I believe there is a mindset that looks a lot like this on the internet.
Thinking about the millions a person is going to make and not looking to help and contribute to the internet market place will only hurt you, the marketer. A person with this mindset might make a few sales but in the end will not last long.
The downside is that there are plenty of people with this mindset who are not willing to put in the work and effort to truly put the customer first.
Put the customer and their need first and you will benefit.
Illusion of something for nothing.
There is another mindset that a person can get online and start a million-dollar business for free. This type of marketer spends more time looking for FREE ways of doing business. This type of marketer spends their energy cutting corners and ultimately loses out.
The truth is there is nothing free in this world. You are either going to spend money and or time building a business.
The internet does afford a tremendous opportunity to start a business and grow it into something to be proud of. It is true it is much easier and less expensive that a brick and mortar business. But it is not free. Don’t make this mistake of getting caught up in this idea.
Anything worthwhile comes at a price.