Affiliate marketing is a popular and effective way of earning money online. Affiliate programs are easy to join, pay commissions earned on a regular basis and are relatively easy to set up and promote.
However, as with other businesses, people make mistakes every day that cost them money and in some cases a large percentage of any profit they make.
So what are the common mistakes that should be avoided by affiliate marketers?
1. Joining too many affiliate marketing programs.
At some point of time you will find yourself joining way more affiliate programs that you have the time and resources available to promote. Worse still is that you join multiple programs in the hope of maximising your earnings. There is nothing wrong with having multiple sources of income but it is better to join one program at a time. You can then develop multiple income streams over time and not be attempting to promote them all at once.
The best way to get good results is by joining just one program that pays a 40% commission or better. Then give it all your attention researching and promoting it. As soon as it is making a reasonable profit for you then maybe you can now join another affiliate program. The idea is to avoid rushing into things and to do it slowly but surely.
2. Choosing the wrong affiliate program to promote.
In the rush to make money online as quick as they can people just chose a product that they think is in demand or “hot” even though that product has no appeal to them at all. It is better to choose something that interests you or appeals to you because it is easier to promote rather than one that only interests you because it might make you money.
So pick a product in a niche that you have some interest in and then do some research into it to see if there is enough demand for you to make money promoting it. A bit of time spent here doing some research could save you from spending a lot more time promoting a product that does not make a lot of sales for you.
3. Promoting products and services without buying them or using them.
As an affiliate you have to be able to effectively promote a product and/or service and convince people to buy it. If you have not tried the product or used the service yourself it is difficult for you to create the desire needed for your customers to buy it.
Just by trying the product or service personally you will be able to determine if it delivers what it promises. You will also know its real advantages and disadvantages and have you own testimonial to give to your customers. Not only that but they will feel your sincerity and truthfulness about the product and be more inclined to try it themselves.
4. Paying too much money for advertising to sell affiliate programs.
It is way too easy to pay too much money for advertising, for example, pay per click, when promoting affiliate programs. Careful planning and due diligence is required in monitoring advertising costs so that it does not cost more to promote products and/or services than one makes in sales. As previously mentioned there is no need to rush to make sales so consider using some of the less costly advertising methods which take a little more time to work but keep working for much longer.