Are you still struggling with making little money online?
If you are still in that position for more than a year trying to make end meets, you did something wrong. One potential issue is your monetization strategy. I myself, started off with blogging and had use AdSense to monterize my blog. At the beginning, I earned from several hundred to few thousand dollars a month. One day Google slapped mysite and suddenly traffic started to drop and so did my earning with AdSense.
Then, I started learning the Affiliate Marketing with Amazon. My rational thoughts at that time for choosing Amazon affiliate are:
- People prefer buying from a renown website.
- People would buy a physical product instead of non-physical product
- I still can earn commission on those products people add to their carts after clicking on my referral link.
In order to make decent earning from my available traffic, I had to product content after content, review after review. And yet, the commission earned is not up to my expectation since I was earning 4% per sale price. With that, I moved on to a non-physical product or informational product where I finally could say that I could passively earned cash from online business.
Read on to find out why affiliate marketing on non-physical is more lucrative than Amazon, in my opinion:
What is Affiliate Marketing?
Affiliate Marketing is a method to make money online where you recommend someone’s product. In an online world, it means you write a review of a product and invite people to click on a link that will lead them to the sale page. Once the visitors you have referred buy a product, you make a profit (commission) from the seller. It is as simple as that.
What is the big deal with informational product Affiliate Marketing Anyway?
The beauty of informational product Affiliate Marketing are:
- You can start immediately (with no website or knowledge of marketing i.e. you can promote on Facebook or Twitter)
- You dont need to lots of money to start
- You dont need to create your own product, marketing tools or sale funnel.
- You dont have to worry about delivery of the product to end customer
- You are selling a “branded” product i.e. you could leverage on the “brand” mentality of buyer.
The only thing you HAVE to do with Affiliate Marketing is:
- Drive targeted traffic to your affiliate link.
But isn’t it the same logic for other legitimate methods to earning money online, you protest. Yes and No.
Yes, indeed you still need targeted traffic for your website or blog if you are earning money through AdSense or paid advertising on your website. But No, the potential earning level is so different. Instead of few cent to few dollars per click on AdSense, you could make from 20$ to 1’250$ or more per customer.
So how can you drive targeted traffic to your offer?
Good question! Personally I am still in learning phase. Having said that, the one method I have good success with is paid advertising and my own email List. Yes, you hear me right, Email List is the king. If you have not started to capture your visitor’s email, you are losing a big chuck of your revenue. So no matter which stage you are in business now, take immediate action to study and implement the Email Marketing. It is so powerful.
On the other hand, if you have less money for paid advertising, there is a free way to promote or recommend the affiliate product as well. The free method consits of blogging, facebooking and forum posting. These free method to gather traffic could be powerful but if you, like me, dont have time OR hate to sell to someone on my FB’s friend list, Paid Advertising is the way to go.
Stay tune to my blog and I will return with more tips on Paid Advertising separately.
3 top mistakes I made when I first started with Affiliate Marketing
Dont make the same mistakes I did 10 years a go:
- Promote multiple products at the same time – lack of focus.
- Do not experience the product myself – How can we promote something we do not use ourselves!
- Afraid to spend Money
First, do not promote more than 2 products at the same time. You will lose focus and trust me, your reader will know! I am speaking of an MMO niche, here. Especially if you are running an Email Marketing campaign and only have a few list without proper segmentation, it is important not to bombard your list with promotion after promotion. People buy from people who provide value. They hate spammer! Of course, if you are selling physical products from Amazon Affiliate, you could definitely review multiples products at the same time.
Second, buy the product yourself to experience what your customer experience. If you dont have money, use the Money back guarantee which most product owner allows up to 60 days of risk free Money Back. At the end of the day, nothing is more valuable than investing in yourself and in this case, investing in learning opportunity.
Finally, invest in yourself. Just like when we goes to university for a Degree, we paid for tuition fee, food or/and dormitory. So the same concept applies in online business. Wouldn’t you want to invest to make your business grows? It takes time and real cash to keep a business going, so dont be afraid to lose money to make real cash.
Bonus tips on finding the right Affiliate Product to promote.
The most important thing in selecting the right Affiliate Product is to review its total cost of ownership. What I mean in laymen term is that once you send people to the seller’s sale page, you want to make sure you could continue to get commission from future purchase of that lead.
This is my secrete to making high ticket sale with MOBE. The benefit I get with MOBE is that once I refer one customer to the sale team, the lead will be linked to my ID for life and therefore, any future commission made (as long as I am positioned myself correctly) will go to my bank account.
ps: Join me and follow my coach to your success, start here –> http://www.samboluy.com/get/17minutes/