Affiliate marketing is one of the most rewarding and lucrative ways for a person to make money online.
As an affiliate marketer, you will market and promote someone else’s product for a commission. Earning on this commission has unlimited potential and have made some marketers into dotcom millionaires.
While affiliate marketing is one of the best ways to make money online, it’s not as simple as it looks. It takes time, lots of skill, knowledge, and commitment to become successful in this business.
If you are looking to build a solid business that can make you money on complete autopilot for many years to come, affiliate marketing is the best option.
If you choose to go this route, there are some pitfalls that I want you to be aware of.
Here are five pitfalls of affiliate marketing:
Pitfall #1 – Not Building A List
One of the things I see a lot of affiliate marketers is that they send the traffic directly to the sales page. This is not the best way.
Your first line of business should be to build an email marketing list.
- If you send traffic directly to the sales page, you will only make a commission on that sale and that’s all.
- If you build an email list first, you will be able to make multiple commission off that one customer.
- You will be able to build long lasting and on-going relationships with a targeted audience.
- When you have a list, you can market to them over and over for as long as they stay subscribed to your list.
So please, start building an email list from day one.
Pitfall #2 – Promoting Products Based On Commission Only
You should care about the type of products you promote. Never promote a product based solely on the amount of money you will get per sale. You have to remember, your goal is to be able to make money for a very long time
If you promote lousy products just to make a quick commission, you will be out of business before you know it. You want to promote legitimate products you know your list and your site will need.
If you promote products that are irrelevant and don’t produce results, you will end up with a lot of refund requests and your subscribers will unsubscribe from your email list.
Pitfall #3 – Promote Too Many Affiliate Programs
Just because there are a thousand great products with affiliate programs doesn’t mean you need to sign up for all of them.
Sign up for about 3 to 5 products that are compliment each other when you just starting out.
Get those products set up in your funnel first and then add more as you become more experience and start seeing success.
If you sign up for too many affiliate programs, you will overwhelm yourself and end up making no money in the process.
Pitfall #4 – Promoting Low Converting Products
Just because a product has an affiliate program doesn’t mean you should promote it. Conversion rates are extremely important when it comes to the products you promote. If you promote low converting products, you won’t make any money at all.
Pitfall #5 – Set Unrealistic Expectations
Yes, there are a lot of affiliates makes millions of dollar a year from affiliate marketing alone. However, what most people fail to realize is the amount of time, effort, learning and expertise it took for them to reach that level of income.
A lot of newbie affiliate marketers expect overnight riches when they get involved with affiliate marketing. It doesn’t work that way. You have to put in time and effort if you want to be successful at affiliate marketing.