Mistakes to Avoid with Your Affiliate Marketing Business
Like all Home Based Businesses, Affiliate Marketing requires time, dedication and lots of hard work. You can’t expect to earn a full-time income overnight. However, if you put forth the effort and avoid making the following mistakes, you’ll sow the seeds for a lucrative and rewarding Home Business.
Mistake #1: Not Comparing Payouts
One of the most common mistakes made by Affiliate Marketers is not comparing program payouts across multiple networks. You’ll often find the same Affiliate Program offered at different Affiliate Networks — but with different payouts.
The Affiliate Program for an Android app may pay $0.50 per download from one network and $1.00 per download from another network. A $0.50 difference may not seem like much, but that’s a 50% payout difference. Assuming you deliver large volumes of sales/leads, that can mean the difference between earning $750 and $1,500 (or more).
So, how do you know if an Affiliate Network offers higher payouts for a particular offer than your current network? You can always contact them via phone or email and ask. Another solution is to look up the Affiliate Program on OfferVault, which currently features more than 52,000 Affiliate Programs and their respective payouts.
Another mistake made by Affiliate Marketers is not tracking conversions. If you don’t know which advertising portals deliver sales and which ones don’t, you can’t effectively optimize your Affiliate Campaigns for a higher conversion rate and ROI.
Thankfully, nearly all of the leading Affiliate Networks offer conversion tracking. Clickbank and Amazon Associates offer unique tracking ID’s. Simply add a unique identifier to the end of your Affiliate Link, at which point you can track your conversions. If you promote your Affiliate Links on Facebook and Twitter, you could set up two Tracking IDs: one for FaceBook and another for Twitter. Whenever you make a sale/conversion, you can see which Tracking ID triggered it.
Mistake #3: Putting All Your Eggs in One Basket
Diversification is key to running a successful Affiliate Marketing business. Focusing all of your time and resources on a single affiliate offer is a recipe for disaster. Maybe the affiliate offer will lower its payout, or perhaps the Affiliate Network will deactivate it. Regardless, you need to diversify by promoting multiple Affiliate Programs. If one program is no longer profitable, you’ll have other Affiliate Programs to keep your business up and running.
Mistake #4: Not Testing
Testing is another critical element of Affiliate Marketing. Unfortunately, though, it’s also something that many newcomers overlook. When you initially launch a new Affiliate Campaign, you’ll need to test different landing pages, ad copy and traffic sources. Only then can you find the perfect formula for success as an Affiliate Marketer.
Mistake #5: Not Treating it Like a Business
Sure, Affiliate Marketing is fun and rewarding, but you should still treat it like a business. This means setting aside a specific time to focus solely on Affiliate Marketing. You should also keep records of all expenses related to your Affiliate Marketing business. If you spend $500 on advertising, keep the receipt so you can deduct it from your taxes.
Don’t make the mistake of advertising your Affiliate Links with prohibited traffic sources, as this could result in your account being shut down without pay. If an Affiliate Program prohibits popup/popunder traffic, do NOT promote your links with popup/popunder traffic. The same goes for PPC brand name bidding. Some programs prohibit Affiliates from bidding on brand names in pay-per-click (PPC) networks like Google AdWords and Bing Ads.
Before promoting a new Affiliate Program, read the Terms and Conditions for both the Affiliate Program and Affiliate network. And if you still have any questions, reach out to your Affiliate Manager for clarification.
A good deal of Affiliate Marketing education, training and powerful Online Business Systems are available to you at out Blog site: http://OnlineMarketingHomeBusiness.com. We specialize in the Home Business Start Up and Online Marketing arenas, and look forward to assisting you in starting and/or growing your entrepreneurial efforts.