Affiliate marketing is a unique business, with its own advantages and pitfalls. Most people are excited with the advantages of affiliate marketing, such as working without boss, working from home, unlimited income potential, and so on.
However, when they face the common pitfalls in affiliate marketing, they are quitting too early. If you want to succeed in this business, what you need to do is keep doing it and never quit. In fact, you have to defeat those pitfalls and keep going. Here are 7 pitfalls you will experience when making money online with affiliate marketing:
1. Ineffective marketing
When doing promotion for your affiliate product, you may find that your promotion doesn’t generate nice profit for you. This pitfall usually makes people to quit affiliate marketing and stop their promotion effort. If your marketing or promotion method is ineffective, switch to another method. Keep trying until you find the best method that brings good profit for you.
2. Losing lots of cash in paid advertising
It’s so easy to place your ads in AdWords or other paid advertising platforms. But, don’t go overboard. You might lose lots of cash in paid advertising if you do it carelessly. To avoid this pitfall, simply learn more about your product, your target market, and how to advertise your product effectively to your target market. In this way, you’re investing your money on the right advertisement.
3. Promoting low-converting product
Before going into full-fledge promotion for your affiliate product, it is better for you to test the water first. You can either run free advertising method or invest small amount of money to promote this product in paid advertising channel. Look at the general conversion rate for the product sales page. If it is good (at least 1-2%), you can continue. Don’t fall into the trap of promoting low-converting product over and over. Once you know that the product doesn’t convert, simply switch to another product to promote. Otherwise, you’re wasting your time and money.
4. Using illegal methods of promotion
One of the most common illegal promotion methods is spamming. Don’t be tempted to use illegal methods of promotion because it will hurt your business in the long run. Yes, it may give you temporary sales boost, but once the affiliate network found your unethical way of promotion, they will usually forfeit all your earnings and ban you as their affiliate. Most people are tempted by the huge promise of instant riches and jump into using illegal methods (mostly black hat) to boost their earning. In the end, they are hurting their business long-term.
5. Buying lots of IM products without implementing them
It is surely tempting to try new methods of earning money online. However, with thousands upon thousands of IM products coming to the market every week, you can’t just buy those products whenever you see them. Remember that if you already have a good marketing strategy that gives you good result, why would you take the risk in trying unknown method? It will be more rewarding for you to expand your method to get more results from it.
6. Promoting multiple products at a time
The most likely result of promoting multiple products at a time is that you will lose your focus easily. If you have strong management and strong experience in affiliate marketing, you can go for it. But, if you’re new, you’ll likely fall into the trap of promoting multiple products at the same time. Choosing one product and promoting it tirelessly is better than choosing multiple products and promoting them half-heartedly. Focus is what will bring you the best result.
7. Not working hard and expect to get big result
Since affiliate marketing is a simple business, people will usually slack off from their work. Sure, sitting in front of the computer connected to the internet is a convenience. However, it can make you to be lazy and avoid working on your affiliate business. Most people want to get big result with minimal work. While it is possible if you have good system in hand, it is virtually impossible if you don’t do some initial works. Affiliate marketing can be a source of good passive income for you. But, remember that before you receive your passive income, you’ve got to work hard to achieve it.
Those are pitfalls in affiliate marketing that you will experience. Most people will quit when they experience such pitfalls. Some people simply can’t stand the challenge. However, if you’re struggling hard to keep your place in this business, it can be the most rewarding business you’ve ever done in your life.
Kenny Bowler is a freelance contributor to How To Trade Commodities where you will find some useful articles to help you learn more about investments.