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.
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.
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?