I will be the first to admit that most of my online earning comes from affiliate marketing. But for the longest time I was actually struggling to earn a sustainable income due to my lack of understanding about the business.
In this post, you will not find stuff that will guarantee massive success. Instead, I hope to share some insights that may turn your affiliate marketing business around for the better. Insights that I wish I gained earlier when I first started online. We are trying to make money on the internet, no denying that fact. Thus what I am going to suggest may seem counter intuitive as I am asking you to stop making decisions exclusively for money.
What Exactly is Affiliate Marketing?
Over here on my website, you will see that I promote products or services of companies (or people) using affiliate links or banner ads. When you click on the links which goes to the product or service website, and makes a purchase on that website, I will get a set percentage from the sale, which is usually about 50%.
So say a product or service that purchased was $60, I will get $30. You might be thinking, why would the companies pay me to earn only $30 themselves? Understand this. Products or services don’t sell themselves. That $30 bucks is what they will probably not earn, without my intervention.
Am I Just An Affiliate??
As an affiliate, are you directly responsible for the delivery of the product or services?
Do you need to own the product or use the service in order to be an affiliate?
In most cases, you don’t have to.
It is really easy to get into the affiliate marketing business. Decide what you want to market and you can begin selling it as soon as you have platform to market it on.
Earlier, I mention that you should stop making decisions exclusively for money. Example, you are an affiliate for two products that serve the same purpose. In your opinion, one does a better job but the other one yields a more lucrative earning for you. Which product would you promote?
How about a commissionable paid resource versus a great free resource that will not earn you any revenue? Which one would you recommend?
Would you promote a product that you know very little about, but still promote it because it is very lucrative? (Btw, I personally use all the products I promote here on my site for my business.)
Here’s my point. If the convenience of the affiliate marketing business have you thinking that you are not responsible for anything that is sold, you are wrong. Go check up on the meaning of affiliate, and I hope you realize that your reputation is on the line with whatever you are promoting.
What You Bring To The Market?
“It is so simple. I am selling the most precious commodity of all: TIME.”
This insight changed the way I approach my online business. You probably heard advice about how you should add value to your audiences. Definitely true and good advice but I still find it pretty vague. Till I realize that what is most valuable is time.
Maybe you intend to buy product A, a terrible product btw but you wouldn’t have known. Through my intervention, you decided to get product B instead, a far better product that serves your needs. I probably save you some frustration, maybe even money but most definitely I saved you time.
It is the same thing with starting an online business. You have the perseverance to succeed. But do you have the time to feed that perseverance. I hope by you reading this, I am getting you there faster instead of wasting your time. That is what scams do. They waste time! You probably have seen products out on the internet promising quick rich solutions that seem too good too easy. It is unfortunate that many good people pay for such products and are subjected to bad advice that pulls them further away from their business goals.
Which brings me to the next point.
Can You Actually Make Good Money with Affiliate Marketing?
In order to make good money doing affiliate marketing, you need to be able to reach a large enough audience who trust your recommendations, have a need for something you can point them to, and will pay you good commissions for it.
Sounds easy? Well the large audience is hard. (I will cover more in the 7 Day eCourse.)
Plus will your audience trust your recommendation?
Know that your reputation precedes you, especially bad reputation on the internet.
People will like you or not like you. Sometimes it is just out your hand but it is definitely better to be liked. So do protect your reputation. Unfortunately, as an affiliate marketer, your reputation and credibility is linked to what you promote. This should be a long term business for you so steer clear of promoting scammy low grade products even if it is lucrative.
Find a product you really like (be honest about it), and you will be happier to promote it. Your audience will also be happier if they learned about a product through you which will hopefully fulfil their needs or wants.
You are responsible for bringing the best to your audience. Your audiences are the ones paying you, not the company. If the company or product you have been promoting no longer benefits your audience, do not be afraid to stop promoting it.