This week I’ve been banging on about affiliate marketing as a model of online business.
I haven’t been too complementary about it. Generally I had found it time-consuming, reactionary and it had left me with the feeling I was ‘not getting it’.
I threw in the towel a couple times. Had an other bash. Gave up again.
By writing these posts I have had an opportunity to reflect on my actions and results. Last night I looked at my actual recent results.
Ooohh.
The results weren’t so bad after all.
In a period of 18 days, these were my results over two networks:
- Clicks (1) 152 (2) 62
- Conversion (1) 2.56% (2) 11%
- Earning/click (1) 0.30 (2) $1.26
- # Sales (1) 7 (2) 7
- I walked away with around $125
Nothing to write home about but that was exciting to put the numbers together and realise I’d done okay! If it was an hourly rate equivalent though I’d be better pretending to be a pimple faced fourteen year old and knocking on Macca’s door for a shift!
However, what those stats tell me is that I had a better return on network 2 – less clicks but way better conversion.
It strikes me that I was making decisions re affiliate marketing on emotion and not facts.
If I look at the numbers, the story is a successful one which can be easily enhanced.
- get more traffic
- choose higher converting offers
- capture the leads on my own page before passing to the vendor sales site
- have some of my own product to offer to the prospect
I also looked at my email list – which I did not build much during these campaigns (facepalm). Surprise surprise I haven’t emailed those subscribers. (double facepalm).
In short, I was a relatively lazy affiliate marketer.
I applied for affiliatehood, took the link, cloaked it and posted it on my blog and on social media.
In a moment of inspiration I also created a review post and couple of videos to drive traffic.
That was pretty much it.
So all in all, if I had been more focussed and promoted better, the success could have been better.
One thing is that a number of affiliate launches happen in an opposite timezone so I miss out on promoting (or don’t sleep!).
My research tells me that to be most successful at affiliate marketing you need to send prospects to YOUR optin before sending to your link. Then offering your own product or another affiliate offer on the thank you page. Then emailing regularly eg daily to build the relationship and customer market value.
For me, realising now that on average a subscriber is worth $1 to you, I would have been better driving traffic to an optin page of my own to capture the lead and then emailing.
It’s reassuring to know that affiliate marketing DOES actually work. One just needs to work the affiliate marketing promotional system.
Will I continue affiliate marketing?
It’s tempting now that I’ve actually looked at my tangible results and seen reward. I will promote a couple of friends products where I’m happy with them. I’m just making a conscious decision to not do much of it for the forseeable future.
I’ve gained more clarity around reworking my business and affiliate marketing will play a part.
But for now I need to focus on building up the product development side of things.
One thing I know now…
I’ll keep a better eye on my numbers and build up those emails!
Are you more an affiliate marketer or a product creator?
Congrats! 🙂
That graphic is pure truth.
OK this is giving me the incentive to spend some time in the affiliate world too!!
Thanks for sharing 🙂
xo
Carla
One tip – make it dedicated time Carla 🙂
As you say, affiliate marketing does work, you just have to figure out what things you are doing right and what things need to be improved upon.
That is the tough part. I am trying out different method to see what works and what doesn’t.
If you can start to build your own list, that really helps a lot. Join plenty of lists and pay attention to the type of emails you receive from online marketers. See what type of copy compels you to hit the Buy Now Button and them try to replicate.
I think it comes with practice, repetiton and a great deal of patience. Ah, patience.
Good luck and congrats on your earnings so far. 🙂
Good tips, Victoria. I knew I had to build my list but I didn’t bother putting in the time. That will change. Thanks!
Mel,
I’m with you! It’s funny how I’ve taken the approach of affiliate marketing without even knowing how to do it. I can look at what others do and try to mimic it, but still have no idea how to work all aspects of the business model.
I’m currently trying to figure out how to promote without promoting. I tend to mention the product title I’m using in my videos and blog posts, but I’m going to stop doing that. I’m just going to do the demo of the product and add an affiliate link on the website.
In using a particular product that I currently have, I’ve discovered some extended features of using it. i’m going to create video tutorials and give them away for free when the buyer purchases the software I’m using.
I figured if they already have it, I could also offer them the videos at a very small fee. I’ve seen this tactic used quite a bit by other marketers, especially on JvZoo.
Affiliate marketing does work, guess we just need to learn how to work it to our advantage. Good post!
Sounds like a great idea, Cynthia. Your videos are definitely useful for people with that product. Go for it!
Love the graphic in the middle! I think the toughest part is finding the right product to promote and then promoting it to the right audience.
Gurus make it sound so easy like that. Persistent effort is required to earn for it… but it can be done!
You’ve made more than I have. I am a lazy affiliate marketer though, because I just don’t have the patience right now to figure it out. I’m trying more now than I have done in the past, so many I’ll see more income. I’m certainly seeing more clicks.
That’s my lesson learned for the week I think – check the metrics and aim for a specific target number of clicks. For me that will depersonalize the frustration while focusing on a goal. The more clicks the better chance of sales. Good luck with it!
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