Affiliate marketing refers to the selling of other people’s product and services and earning commissions per sales, either as a onetime pay off, or a monthly recurring basics. It can be very lucrative if done properly. The good thing about setting up an affiliate marketing business is that, it involves no cost to get started, you do not need to have a product to sell, you do not have to worry about customer service, and there are no hassles at all. Another good thing about affiliate marketing is that, you can also be making money even without making a sale. This is known as CPA (cost Per Action); meaning that, you send traffic to a particular website you are promoting, and getting paid just because a prospect entered their information like email, Country, telephone number, post/zip code, and their name into an opt-in page or a website form. Commissions for CPA offers like this can be up to $30 to $100 per lead. However despite its simplicity, approximately 98% or more, of people venturing into the affiliate marketing business fail online because they lack the right skills and knowledge.
Other reasons affiliate marketers fail are as listed below:
1) People venturing into this business model tend to complicate even the simplest things.
Most affiliate have fail to understand that affiliate marketing suppose to be centred on helping people. They fail to target hungry markets that have great products in which consumers need instant solutions to the problems. Good example of these kind of products are weight loss, social obligations (e.g. wedding speeches), loans, computer software, console repairs ebooks or video tutorials etc etc. A must get, an instant solution 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 to. Most affiliates tend to market any product everywhere instead of seeking a particular market place. Twitter tends to be one of the best places to find people with instant solutions to their problem. The reason is because most people on twitter tend to tweet their problems. In social media, conversion is king, and if you can converse with people and do not spam the platform, it is possible to make money.
2) Most beginners or even those who have being affiliate markets for years do lack focus.
Most assume that trying to promote several products will contribute in making them more money. This is not tore, because instead of making more money, they tend to lose focus. This can simply lead to information over load which can result in causing more harm to the progress of their business than succeeding.
3) Majority of people do not take action.
Another major problem is that most affiliates learn lots of new thing from several mentors but also fail to implement the things they learn. Some common reasons is because of lack of resources and tools for implementing the things they learn. Other reason is that most affiliate underestimates the value of the information they receive, or are rather too lazy to act upon that information.
If affiliate can learn to avoid making these simple mistakes, I believe there will be more affiliate marketer’s success story. In order to fall within the 2% of affiliates who are doing pretty well, these simple mistakes needs be put into consideration.