Affiliate marketing is like a gold rush in the online business world: everyone knows there’s lots of money to be made from it, but many begin doing it without learning how it’s done right. In the long run, many give up, many lose patience just next to a huge gold nugget and many waste their resources digging in dry land.
The same thing happens with home-based entrepreneurs who want to join affiliate marketing programs. Although no one has yet published a comprehensive handbook on how to do affiliate marketing, there are some clear things which you should never do.
These are the top 4 mistakes of affiliate marketing which you should never commit (even though some of them sound tempting at the beginning, but so did the real estate bubble).
1. “You can make millions in just half an hour of work every day.”
I would ban this phrase from the internet if I could, because it is inflated, untrue and misleading. Yes, it takes half an hour to create and post an affiliate marketing banner, but it takes a full day of work to A/B test it, optimize it for mobiles, design great landing pages and interact with your audience so you get clicks on your banner ad.
There is no magic formula for posting a banner and then waiting for the fees to come at the end of the month. All there is to it is your ability to identify your niche market, engage it, drive traffic and then get conversion. There is no gain without pain, not even in the online world.
2. “Here’s a great opportunity! Better give up everything else and start this.”
No, no, absolutely not! Do not give up your ongoing affiliate marketing programs, even if they do not turn you into a millionaire overnight. They are a source of income. That amazing opportunity you’ve just read about could be just a scam. Or it could be legitimate, but it may not work for you.
There are no guarantees given as to the income you make in affiliate marketing. However, there is the rule of common sense that says don’t count your chicken before they’re hatched. In the same manner, don’t give up the eggs that are hatching for an illusory golden egg which will never hatch.
3. “I’m in over 50 affiliate marketing programs; at least a few have got to work!”
This is the opposite of mistake #2. You want to make sure that you succeed, so you join as many affiliate programs as you can. But can you manage them properly? Can you track each campaign? Can you determine the return on investment correctly and see where you need to make changes and, more importantly, do you know when to do it? When you are starting out, pick 2-3 most potential affiliate programs and focus on becoming a Super Affiliate for each.
4. “This affiliate marketing business is not for me, I’m giving up!”
That is probably the worst mistake of all. It gets you in a certain mindset. It tells you that if something doesn’t work at first, you should abandon it and move on to the next…and then the next…and then the next. How long until you try every type of home-based business and you give it up because it is hard at the beginning? Don’t sabotage yourself, hang in there, educate yourself, and make your business work.
Now you know what you must never do if you get in the affiliate marketing business. Don’t start with unrealistic expectations and don’t give up. It is a good home-based business opportunity, but it needs just as much hard work and dedication as any other business.