Affiliate marketing refers to selling other people’s products and services and earning commission from each sale, either as a one-time payment or on a monthly recurring basis. It can be very lucrative if done correctly. The great thing about setting up an affiliate marketing business is that there is no cost to start, you don’t need to have a product to sell, you don’t have to worry about customer service, and there are no hassles. Another good thing about affiliate marketing is that you can also make money even without making a sale. This is known as CPA (cost per action); which means you send traffic to a particular website you are promoting and get paid just because a prospect entered their information like email, country, phone number, postal code and their name on a signup page or signup form. website . Commissions for CPA offers like this can be as high as $30 to $100 per lead. However, despite its simplicity, approximately 98% or more of the people who venture into the affiliate marketing business fail online because they lack the proper skills and knowledge.
Other reasons affiliate marketers fail include:
1) People who venture into this business model tend to complicate even the simplest things.
Most affiliates have not understood that affiliate marketing is supposed to focus on helping people. They fail to target hungry markets that have great products where consumers need instant solutions to problems. Good examples of these types of products are weight loss, social obligations (for example, wedding speeches), loans, computer software, console repair, e-books or video tutorials, etc. A must have, an instant fix product, a do or die product are the kind of products that can help skyrocket your affiliate income.
Not understanding simple common sense things like this has contributed to the failure of many internet business marketers. The confusion of knowing the right places to market specific products. Most of the affiliates tend to market any product everywhere instead of looking for a particular market. Twitter tends to be one of the best places to find people with instant solutions to your problems. The reason is that most of the people on Twitter tend to tweet their problems. On social media, conversion is king, and if you can chat with people and not spam the platform, it’s possible to make money.
2) Most beginners or even those who have been affiliate marketers for years lack focus.
Most assume that trying to promote multiple products will help make them more money. This is not a bull, because instead of making more money, they tend to lose focus. This can simply lead to information overload that can do more damage to your business progress than success.
3) Most people don’t take action.
Another major problem is that most affiliates learn a lot of new things from various mentors, but they also don’t implement the things they learn. Some common reasons are due to a lack of resources and tools to implement the things they learn. Another reason is that most affiliates underestimate the value of the information they receive, or are too lazy to act on that information.
If the affiliate can learn to avoid making these simple mistakes, I believe there will be more affiliate marketer success stories. In order to fall within the 2% of affiliates that are doing pretty well, these simple mistakes must be accounted for.