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Mistake number 1: Analysis Paralysis – A lot of people including myself get analysis paralysis. What that means is you already start to think about all the challenges that you may face before you even get started and then you get overwhelmed and you get burnt out. And to beat all you haven’t done anything right yet including putting up a website – you haven’t even created a strategy – you say I’ve got to do this, all is too hard I don’t want to do it. I would say the first mistake that people make is … they don’t get started. If you have an idea … implement it, and then build from there, don’t worry about getting it exactly right the first time.
Mistake number 2: Getting Rich Quick Mentality – People will think it’s a get rich quick scheme and it’s not. I mean you can’t just put up an affiliate site and expect to make money overnight. You need to promote that site, you need to have constant new content all of the time, you need to promote your site. It’s not as easy as when I started, people wanted work at home like I did and back in 1998 I didn’t have a lot of competition, now I have a ton of competition so I’ve also had to diversify.
I don’t put all my eggs in one basket … and I monetize my sites several different ways now.
Mistake number 3: Isolating Yourself And Not making connections. I really think it’s networking. If you don’t talk, you don’t understand how the industry’s growing, you don’t understand where it’s going or what you need to do to be successful and you do that by talking to other people and seeing where they are successful and learning from their mistakes and their failures – so if you are closed off and you’re not using those tools and that knowledge, it’s only your problem at that point.
Mistake number 4: Not Tracking Analytics Properly- The most common mistake I would say that people make is that they don’t do proper tracking. This industry is like this – you go and walk the show floor, basically, all you hear is … drive traffic to the offer and make money. Well unfortunately, the majority of the people who drive traffic to an offer do not make money.
You don’t make money – because that’s just the way it is. You will get the occasional rare situation when you actually come out ahead – but yeah it generally will require you to tweak the offer, changing the copy. Changing the offer. Just changing color – until you get over the hump … where you actually become profitable. But you don’t know the mistake you are making on this unless you are able to track the response to everything. Of all things I do, yes tracking and analyzing the numbers is probably the biggest in terms of increasing the bottom line.
Mistake Number 5: Being Overly Promotional – a lot of affiliates are just selling selling selling, instead of being helpful to the audience.
Now I am not saying to people who sell don’t make money – I just don’t see them making money over the long run. So it may be good like the first-year second-year but then it slowly dies down. But those people that I’ve known who have stuck around the industry you know they last 7, 8 10 years, are the ones who have been constantly adding value and they’re recommending the products – not necessarily just selling selling selling, all the time.
Mistake number 6: Not Focusing On Value – What makes me sad about the affiliate world is there’s not enough people focused on value. I use this in my presentation: Why would my mom come to this website? What what makes your website, what makes your App better than other apps? How do you add value to the customer? Ultimately you want wealth to be some kind of indicator of the value-added and so in the affiliate space don’t try to trick anyone.
Nothing shady … just try to add value. Why would a customer want to use this? Is it because you write glowing reviews of products that don’t have reviews about them do you have coupons that give instructions on how to stack them that adds a lot of value to the customer. Figure out how you add value to the customer and you will have enough customers … you will surely figure out how to monetize it, that’s for sure. Keep it real? Yes, Keep it real!
Mistake number 7: Selling Before Connecting – A lot of people are looking for information and the sales funnel is big and sometimes can be long it’s great when you can find somebody who’s ready to buy but a lot of times people are researching a product so if you can provide really good information and help them through that process by collecting their email and creating some kind of relationship … what is common right now is that you can very easily put up an instant chat and push offers to people on your site. There’s so many different ways do this now.
To engage people and have them feel like you’re helping them, that there is a true relationship! They are more likely to buy from you and you will convert more sales this way. When they are ready to buy, you never want to force it. You want people to be really happy and to be learning something through the process. You want to be answering their questions and easing their pain.
Mistake number 8: Not Looking Out For Your Partners – As an advertiser I was approving affiliates that we’re just kind of thin affiliates. That’s a new term that I learned for when they don’t have a lot of content they just were like coupon sites – things like that. And also, I wasn’t doing a lot of newsletters or engaging them and telling them how they can become better affiliates. I now have a lot of information that I will probably share over many newsletters I mean I have enough information to share probably many newsletters worth of content with my affiliate which will hopefully make them better and therefore make my company better and get us more leads.
Mistake number 9: Selling without Solving – A common mistake is that people think that they should sell instead of offering a solution. So they look at the product – they don’t look at the solution provider or the solution that they’re going to provide just the product that people think they have. As an example if you think that my dog bed may be the ‘Rocking” dog bed that you want/need. Well maybe you’re looking for something for your arthritic dog – that’s different than selling them a dog bed. It’s totally on 2 different levels. The problem with affiliates and affiliate marketers is that they’re looking for: “How many sales can I do for that dog bed?” Not if I do this person a favor by finding them the right dog bed – and they have 20,000 Twitter followers – I can then get how many more sales? That makes so much more of a difference then ifI can sell this one dog bed. HUGE difference!
Mistake number 10: Trying To Do Everything For Free – When your new, generally speaking you’re not well-funded.When you get started, I don’t know too many people that started in this industry with $100,000 sitting around ready to invest in campaigns and software. So a lot of people will try to go online to some forum and start asking – What’s the best way to get free traffic? Well I promise you there’s no such thing as true free traffic. If its SEO traffic – well eventually, yes it’s free after you log in countless hours of dedicated yourself to optimization strategies for your SEO model. That is the biggest hurdle. Being okay with taking the risk of spending few thousand dollars to get started. Even if you have just few hundred, you can get things going in some aspect or another – run a $10 a day Facebook campaign (perhaps) to a funnel that you built out to catch your email needs. It doesn’t have to be that intensive with spending money right off the bat. Just have the idea in mind that you’re going to have to to do some investing in.
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