Affiliate Marketing can be one of the most effective and powerful ways of earning money online.
Referring other people’s products to prospects and customers is an old business model, just tweaked a bit and renamed for online use.
An affiliate marketing business model gives everybody a chance to make a profit through the Internet, because there is very little investment to start.
Since affiliate marketing programs are usually easy to join, more and more people have been working this type of business.
Because it is so easy to join a program and start promoting, many people just don’t put any thought into what they’re doing. They just jump into any program that looks good. And then they just start promoting it anyway they can, with no business plan, and really no idea what they’re doing, all because there’s very little money at stake…
There are definitely pitfalls to watch out for. Committing these common mistakes below could result in lost business, or no business… Here they are, short and sweet with no fluff or trimmings. 🙂
Mistake number 1: Choosing the wrong affiliate product for the wrong reasons.
Most people want to earn money as fast as possible, right from the get go. In their rush, they may choose a heavily promoted product recommended by the program they join.
They choose the product that they think is in demand without properly researching it. This is usually not good idea…
Choose a product in which you are truly interested in, something you have, or want to have. Armed with inside information by using the product or service yourself, you can now transfer your confidence in the product to your prospects.
So, pick a product that appeals to you. Then research that product to see if it is in demand. People have to be willing to spend money with you to have a profitable company.
Mistake number 2: Joining too many affiliate programs to start.
Since affiliate programs are very easy to join, you might be tempted to join multiples of affiliate programs to try and maximize the earnings you will be getting. Besides you may think that there is nothing wrong, and nothing to lose by being part of many affiliate programs.
True, that is a great way to have multiple sources of income. However, joining multiple programs and attempting to promote them all at the same time will prevent you from concentrating on each one of them. Splitting your focus in two many directions is a recipe for failure for most start ups.
So, pick one affiliate product and stay with it from start up to profit. As soon as you see that it is already making a reasonable profit, then maybe you can now join another affiliate program. Diversification can come later when you are already making money online.
Mistake number 3: Not buying the product or using the service.
Refer back to our number one mistake, and in a perfect world, the perfect product to promote would be something you are are already using. As an affiliate, you purpose is to effectively and convincingly promote a product or service.
Promoting a product you are more passionate about is a lot easier than promoting one for the sake of the earnings only. Both models are workable, but it is a lot more fun to promote something you believe in.
If you have used the product or service, then you are aware of the advantages, and the disadvantages, and you can discuss it confidently and in detail. Your customers will then feel the sincerity and truthfulness in you and this could trigger them to try it out for themselves.
Selling is no more than transferring your belief in what you are selling to your prospects. Do that well and you will have a profitable and successful business online.
Be smart. Research your products and services before committing your business to them. Many affiliate marketers make these common mistakes, and pay the price for their misguided actions. Don’t let that be you.