It is true that affiliate marketing has a high failure rate
. That doesn't mean it is impossible to succeed! It just means that you need to be willing to work hard and work smart.
With that in mind, here are five affiliate marketing mistakes to avoid:
1. Starting an online business in the wrong market or niche. Always choose a market where people are already spending money. It will be a lot easier to sell a product to these folks.
It is interesting to note that many of the top markets never get completely maxed out. Everyday, people are creating new websites in areas you would think would be impossible to make money in due to high competition. This simply isn't correct. They are making money because their niche is targeting people who already willing to spend money.
2. Loosing focus with too many affiliate programs. Having a lot of affiliate products does not necessarily increase your sales. It is smart to focus on only one product at a time. Create a profit from one product before adding another product to promote.
3. Building too many websites at the same time. This is a great way to burn yourself out before you even get started. Focus on one website at a time. As an entrepreneur, we know that you have a lot of great ideas. However, keeping those ideas focused and organized is the key to success.
4. Using the website provided by the affiliate merchant. Take the time to create your own website to promote your product. You need to make yourself different from the competition. This is an important part of branding yourself and your business.
5. Not using an email opt-in box. Every business needs an opt-in box placed on their website. You need to collect a list of emails from people to follow up with for future sales. Most people never buy anything on their first visit. An opt-in box reminds them to come back to your website.
The goal is to collect as many names and email addresses as possible of people that are interested in your niche. Build this list as large as you can and use it as a vehicle to build a relationship with your subscribers.
Most importantly, the key to thriving in this business is to pay attention to what other successful affiliate marketers are saying and doing. Find a good mentor. Listen to their advice and test it for yourself.
Now that you know how to avoid these affiliate marketing mistakes, you are already on the right path for success. Keep yourself focused and working on something every day. In no time at all, you will see your affiliate business grow.