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Affiliate Marketing is one of the most effective and powerful ways to earn a living online. Affiliate programs give everybody a chance to make a profit through the internet. Since these affiliate-marketing programs are relatively easy to join, implement and pays a commission on a regular basis, more and more people are now willing to join in this lucrative business.
However, there are also pitfalls in the Affiliate Marketing business. These common mistakes may cost affiliate marketers a large chunk of their profit everyday unless they are avoided or rectified. Here, we will enumerate the five most common mistakes that Affiliate Marketers make. We will also discuss how they can be avoided.
Mistake #1: Choosing the wrong affiliate products
Most people want to earn from affiliate marketing as soon as possible. In their haste to earn much in a short span of time, they tend to choose a bandwagon product; one that they think is a 'hot' item. They will choose a product that is in demand without considering if that product appeals to them. However, this is not a wise move.
Instead of jumping on the bandwagon, you should choose a product in which you are truly interested. For any venture to succeed, you should take the time to plan and map out your actions. Pick a product that appeals to you. Do some research about that product and determine if they are in demand. Choose a product that you will promote passionately.
Mistake #2: Joining too many affiliate programs
Since affiliate-marketing programs are so easy to join, you might find that you have nothing to lose if you join multiple affiliate programs. For many, this may seem a great option as it may provide you with multiple sources of income. However, joining multiple programs and attempting to promote them all at once may prevent you from giving the full attention that each of your programs deserve.
Thus, the maximum potential of your affiliate program will not be realized and the income produced will be disappointing. The best way to get excellent results is by joining one program that pays at least 40% commission. Then, give it your best effort by promoting it enthusiastically. As soon as it is making a reasonable profit then you can now join another program.
Mistake #3: Not buying the product or using the service
As an affiliate, your job is to promote a product or service effectively and convincingly and find customers. For you to effectively promote and recommend any product or service, you must be able to relay to the customers its benefits. One common mistake that affiliate marketers do is failing to try the product and service. Thus, they are not able to promote and recommend the product or service convincingly and fail to create a desire in the customer to buy or avail of the product or service.
Try the product or service personally, before you sign up as an affiliate and see if it delivers what it promises. If you are using the product or service personally then you can credibly promote its advantages and benefits. Your prospects will feel the sincerity in your copy and will likely purchase.
Mistake #4: Signing up for low-paying commissions
Although affiliate marketing is one of the easiest ways to make some profit online, not all affiliate programs pay high commissions. There are programs that can pay as low as 1-2%. You should not short change yourself. Avoid these low paying affiliate programs. Look for an affiliate program that have a 30% or higher commission payouts. Another way to create income in affiliate marketing is looking for programs that give residual payouts.
Mistake #4: Limiting your strategies to Non-viral marketing only
Viral marketing is one of the most effective ways to increase awareness for a product or service. It is very useful in rapidly relaying the message to a large number of people. Most affiliate marketers do not use viral marketing to the detriment of their sales results. If you want to promote a product then you should really make an effort in promoting it. Even though you are only an affiliate promoting the product of another, you should exploit all means to find customers as this will translate to more profit for you too. Use viral marketing to build a larger consumer base and bring in the profit.
Mistake #5: Disposable Customers
As an affiliate, you work hard to find prospects and convince them to purchase or avail of the product or service. However, what happens after that customer purchases the product? Should you dispose of that customer and find a new prospect?
That would be a critical error. The best thing to do is to keep that customer available for you to expose your other offers. Do not throw them away as soon as the make a purchase. Find a way to capture their email addresses so that you can promote you offers to them again. Building a good customer list is one of the effective strategies to increase your profit.
Affiliate marketers make these five common mistakes; and you should do everything to avoid making the same pitfalls. Take the time to analyze your affiliate marketing efforts and see if you are on the right track. With the right strategies and techniques, you can maximize the potential of your affiliate-marketing program and earn higher profit.
This article was authored by Jason Gazaway. This 22 year old, 'regular' college kid was able to quit his 7-4 "job" because of his affiliate marketing business. He now wants to help others and show you how he did it!
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