Finally, the last instalment in this series. So let get cracking.
How To Make It In Affiliate Marketing – Part 3
Lesson 10 – Where is your money going?
A common scenario in the IM World seems to be someone finally getting a profitable campaign & the next thing you know, their lifestyle has increased 10 fold!
But what happens…a new car is leased, a new house, vacations & designer clothes.
Before they know it, their main campaign dies & they can’t get it back on track. So with all the bills that come from an ‘inflated lifestyle’ they find themselves back in a 9-5 job.
This is where a principle of ‘money momentum’ affects people psychologically. If you have money coming in & you are testing, you can ‘afford’ to lose money if overall you are profitable.
When money is coming in, you can take more risks & some of those risks will pay off.
But some people will live off the successful campaign until it dies…then they will start testing, this means that the losses they are making whilst testing are far more emotional.
Get the money right, invest in your business, get the best you can, strive for something sustainable…..then, & only then, look at the luxury lifestyle.
I totally agree with the above point. Invest in your business, then save for a ‘rainy day’ & then treat yourself! In that order.
You never know what is around the corner. Especially in this business, things fundamentally change on a month by month basis rather than annually & you never know when the plug will be pulled on what has been working for you.
Lesson 11 – Imitate, then Innovate
A great learning technique is modelling, which is basically imitating success.
This doesn’t mean straight up copy someone’s Ad’s, Landing Page etc…just look for inspiration & improve from there.
Once you understand the basics, then it’s time to get creative. Innovation pays.
If you hit on an interesting angle, you have ‘first movers’ advantage & can reap huge profits.
Like a lot of people reading this, I have heard over & over again….”You don’t have to re-invent the wheel”. Just find something that is working/selling & make it better.
‘Better’ can be seen from many different ‘angles’, it doesn’t just mean content:
The list goes on….do it your way & with your ‘twist’ to it.
Lesson 12 – Adapt or Die
The IM industry is always changing. A year in this industry is like 3 in another. Some landing pages that did work a few years ago, won’t work today. Offers that were huge 6 months ago, are now gone. It is the nature of the beast.
The most important thing to do is focus on the fundamentals! IM is just combining an angle with a traffic source with an offer & split testing it until it’s profitable.
New media and offers will come & go….but the fundamentals will always remain the same!!
Well there you go folks, the last of the instalments from these IM lessons. I enjoyed it when I first read it & it hit home and made me realise that this is a real business with many many challenges….but that is why I love it.
I think it also hit home that IM is still just a ‘normal’ business & is no different in principle to any ‘bricks & mortar’ business…..they have to be run in the right way to make money. The internet can make it easier in theory but just as much time, effort & dedication is required to make something online work as it does to make a shop successful.
So what did you think of the series? Did you enjoy it? Please feel free to let me know & drop me a line, it would be great to hear from you!!
Thanks for reading.