“Affiliate marketing has made business millions and ordinary people millionaires!” – Bo Bennett.
In recent years, affiliate marketing has been making headlines in the world of e-commerce for all the right reasons. According to statistics, $5.3 billion was spent on affiliate marketing in 2017, a figure that is expected to rise to $6.82 billion by 2020. Furthermore, 15% of the digital media industry’s revenue in 2016 came from affiliate marketing. These numbers prove that affiliate marketing has now risen to the mainstream and is a legitimate and established industry.
Affiliate marketing is providing opportunities of passive income that we have never seen before. This is best exemplified by the story of Jason Stone, who generated $7 million in retailer sales in just a single year through affiliate marketing. Retail giants Amazon are offering commissions of up to 10% to affiliate marketers. As a result, an increasing number of influencers and publishers are getting into the affiliate marketing arena.
It gets even better! Affiliate marketing programs, such as Lead Dyno, enable affiliates to keep track on exactly how each of their Facebook advertisements are performing.
Are you looking to become an affiliate marketing elite? If you make smart decisions, use the right tools, and avoid the following mistakes, there’s nothing that can stop you.
Joining Too Many Affiliate Programs
This is a mistake that is prevalent with new affiliate marketers. The lure of multiple streams of online income makes marketers join each and every affiliate program they come across. This leaves them with too much to deal with and the whole thing becomes unmanageable. Don’t bite off more than you can chew and choose your affiliate programs carefully.
Acting As a Salesperson Instead of an Affiliate Marketer
If you’re an affiliate marketer who is filling their pages with words and links that scream, “BUY THIS NOW!!” you aren’t really helping your cause. The purpose of an affiliate marketer is to provide third party validation and endorse the product of a seller in an unbiased way, rather than becoming the salesperson themselves. When making a decision on a product, consumers want to hear from people who don’t have anything to gain if they buy the product. This is why customer reviews are so powerful.
Not Focusing on Content & Targeted Audience
Quality content and targeted traffic are perhaps the most important things to consider for affiliate marketers and bloggers. Powerful servers and attractive themes are redundant if there is no focus on quality content and relevant target audiences. It’s important for affiliate marketers to focus on the benefits of the product, instead of its features.
Theodore Levitt, the renowned economist fittingly said, “Kodak sells films, but they don’t advertise film; they advertise memories”.