Affiliate marketing refers to the sale of other people’s products and services and the earning of commissions from sales, either as a single or basic monthly recurring payment. It can be very profitable if done properly. The good thing about setting up an affiliate marketing business is that it doesn’t involve any 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 that you send traffic to a specific site that you are promoting and you get paid only because a potential customer entered your information such as email, country, phone number, postal code / zip code and your name on a sign-up page, or 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 those who venture into the affiliate marketing business fail online because they lack the right skills and knowledge.
Other reasons why affiliate marketers fail are listed below:
1) People who venture into this business model tend to complicate even the simplest things.
Most affiliates did not understand that affiliate marketing should be focused on helping people. They fail to reach hungry markets that have great products in which consumers need instant solutions to problems. Good examples of this type of products are weight loss, social obligations (for example, wedding speeches), loans, computer software, console repairs, e-books or video tutorials, etc., etc. A mandatory product, an instant solution product, a make-or-die product are the type of products that can help increase your affiliate revenue.
Not understanding simple common sense things like this contributed to the failure of many Internet business marketers. The confusion of knowing the right places to market specific products. Most affiliates tend to market any product anywhere, rather than looking for a particular market. Twitter tends to be one of the best places to find people with instant solutions to their problems. The reason is because most people on Twitter tend to tweet their problems. On social media, conversion is king, and if you can talk to people and not spam the platform, you can make money.
2) Most beginners or even those who have been affiliated for years have no focus.
Most assume that trying to promote multiple products will help them earn more money. This is not ripped, because instead of making more money, they tend to lose focus. This can simply lead to information overload, which can result in more damage to business progress than success.
3) Most people do not take action.
Another big problem is that most affiliates learn many new things from various mentors, but they also fail to implement what they learn. Some common reasons are the lack of resources and tools to implement what 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 these simple mistakes, I believe there will be more success stories from the affiliate marketer. To fall within the 2% of affiliates who are doing very well, these simple mistakes must be taken into account.