Problem With Affiliate Marketing
And how to overcome it...
Affiliate marketing is where ordinary people can sign up to a company's partner (affiliate) program and earn commissions promoting their products.
Amazon's Associate Program is probably the biggest example. Anyone can join and promote just about anything Amazon sell and earn commission.
Pretty sweet right?
Consider the fact that most large companies have an affiliate program and you can start to see the potential.
The formula for success is simple too...
TRAFFIC (people) + CONVERSION (the percentage of people that buy) = AFFILIATE COMMISSION 🙂
You can tell there's a BUT coming...
BUT (you were right)...
Most people that try this super simple way to earn extra money...
Why Do People Fail At Affiliate Marketing
When It's Such A Simple Model?
Before going on let me suggest you confirm for yourself that most beginners fail.
By simply searching "what percentage of people fail at affiliate marketing" Google responded with 95% FAIL and an excellent article which you can read here (I'll wait)...
Let's break down the formula...
Traffic is marketing speak for people that are looking for a RESULT. Nobody wants products they want what the product gets them...
You don't want a 'drill' you want a hole in the wall to ________ .
You don't want a course on affiliate marketing you want a way to earn an extra $500 /month to get you your dream car / house payment / holiday etc.
And you find these people using either FREE methods or PAID methods.
FREE Traffic Methods are called free because you don't pay for them. But they do take TIME...
Usually a lot of time. If the saying that time is money is correct then free traffic methods are not really free?
PAID traffic Methods or advertising. You pay money upfront to get people to look at the affiliate product you're promoting hoping to make more in commission than you spend.
Conversion is the percentage of the people you send to see the offer that end up buying.
Obviously the higher the conversion percentage the better right?
The amount of commission is also important. Earning $30 if the conversion is 1% is OK if you can get the traffic free or under .30 cents per visitor (your breakeven point).
Also earning $10 is OK if the conversion percentage is over 10% and the cost under $1 per visitor.
In my opinion most people fail at affiliate marketing because building free traffic takes too long, and paid traffic sources are too expensive to be profitable.
And this is because affiliate marketing attracts millions of people looking to profit. Meaning its SUPER COMPETITIVE.
So get your coat and close the door on the way out...
There is a way.
In fact there are quite a few.
As Tony Robbins suggests...
"If you want a specific result find somebody that's doing it and model them", though I'm sure Tony said it in a cool way.
But I took Tony's advice.
How You Can Do Affiliate Marketing
PROFITABLY Even If You're A Beginner
This is my adaption of the PROVEN method I was taught by the people I modelled.
Done right affiliate marketing takes some skillz
Which take time to learn.
I highly recommend you skill up, but when starting out it is possible to fit some training wheels to our affiliate marketing bike?
So we learn the ropes...
Profitably - right?
This is what swung the pendulum my way and should work for you too...
So my 'niche' is helping people like I was a few years ago, people looking to earn extra money through affiliate marketing without the time to do all the 'content marketing' stuff to attract free visitors and with a limited budget to spend on paid advertising.
If this sounds like you...
The game-changer was discovering what I call 'Ultimate' affiliate programs because they do 3 CRITICAL things...
- They get people the RESULT they're looking for. They WORK. Happy customers 🙂
- They pay you the affiliate potentially LIFETIME affiliate commissions. Which can build steadily over time to become your financial foundation to support whatever it is you want.
- They do ALL the follow up marketing for you. There's a reason why marketers say "the fortune is in the follow up". This is huge because it frees you to concentrate on the one task needed for success; ...finding more people that want the result (traffic generation).
They're really hard to find.
The White Rhino of affiliate programs.
So far I've only found two and some pretenders...