Without a doubt, affiliate marketing is one of the most lucrative business models to make money online, and when done correctly, can result in enormous revenue for you and your business. If you Google how to start a business you will see dozens of ads talking about the power of affiliate marketing and how it’s so easy to set up and make money with. The thing with affiliate marketing is that it sounds really easy but actually involves a pretty steep learning curve. You can unwittingly make a number of mistakes that can derail your affiliate marketing efforts before you ever even get off the ground. By being aware of the potential pitfalls, you can avoid such issues and give your business the best chance to succeed in 2021 and beyond.
Here are the top eight affiliate marketing mistakes that you should avoid at all costs;
1. Having A Low-Quality Website
The website or landing page that your prospective customers see directly reflects you and your business. You only get one chance at making a first impression and making a bad one can derail your efforts regardless of how good the product or service you’re promoting. To build trust and inspire confidence, you need to have a website that looks professional and provides all of the information that the customer requires in order for them to click through your funnel and convert.
Here are a few tips on how you can optimize your affiliate marketing website design
Keep It Simple
The customer should see what you want them to do immediately. Don’t make them look around and think about what to do. Tell them what the product is, what problem it can solve for them, and give them the link. That’s it. Anything more or less than that can only complicate matters.
Feature High-Quality Images
At this point in the game, people expect HD-quality images. Having Low-Resolution images on your website will make you look amateurish, unprofessional and will definitely hurt your ROI. The best affiliate partners will provide you with great resources, and so you should take advantage of them.
Have A Great Copy
You need to ensure that your product copy is on point, so the customer knows exactly why they should be interested in the product or service that you’re promoting. B2B lead generation service, in particular, is all about solving the customer’s pain point, so let them know how the product or service you’re promoting does that.
Include An Email Opt-In Form
This not only allows you to follow up with your visitors, but it can dramatically improve your conversion rates by allowing you to thwart shopping cart abandonment.
Include Links To Your Social Media Pages
People don’t like to take risks, especially with their hard-earned money. They want to know that others have spent money on the product or service and were happy with the outcome. Social proof really is the name of the game if you want to take your conversion rate to the next level. Social media for B2B lead generation is a proven technique that you need in your arsenal.
2. Promoting The Wrong Product
On the other hand, you could have a stunning world-class website, but if nobody likes the product or service that you’re promoting, you won’t make a cent. The trick is to look for products and services that are proven to convert. Look to partner with brands offering promo materials for you to use on your website.
Banner ads, funnels, email copy, anything that is proven to convert, and look to see how many other people are promoting the product. Don’t try to find the next big thing; just sell what everyone is already buying. At the end of the day, promoting the best items is the number one among the ways to improve your b2b conversion rate.
3. Promoting Too Many Products
It’s easy to get excited and overzealous when you first discover the potential of affiliate marketing, but by promoting too many products, you risk spreading yourself too thin. If a customer lands on your page and sees 250 different products, chances are that they’ll just leave your page.
Not always, but more often than not. Try to focus on one or two great products and take the time to really explain the benefits of those products; in this way, you can target the very specific demographic that’s looking for those products already, and in doing so, you can increase your conversion rates.
4. Not Tracking Your Conversion Analytics
If you aren’t tracking your analytics, then you really have no way of knowing how to improve. Some campaigns work great right from the get-go; others will work well but need some more time or attention on your part; others still won’t work at all no matter what you do.
You need to know which is which. By tracking your analytics, you can identify what’s working, what isn’t and make the necessary adjustments to increase your revenue and decrease the amount of time you’re wasting on campaigns that will never pay off.
5. Failing To Provide Content On A Regular Basis
You might have the best blog article in the world. It attracts thousands of visitors and makes you a good amount of revenue, but if that’s the only article on your website, then you’ll be broke in no time flat. People have short attention spans; now more than ever, the need to release consistent content on a regular basis is paramount to success.
Try to come up with a schedule for publishing your blog posts, videos, or social posts, and then stick to that schedule. By doing this, you will be able to grow an audience that would otherwise forget you tomorrow.
6. Not Paying Attention To Updated Terms And Conditions
Sometimes it can happen that you are making a good amount of money promoting the services of a particular partner but then all of a sudden, overnight, your revenue drops by 90%. So, what happened? There are a few reasons why your income can drop, but one of the most common is that the commission fees have been reduced for that particular program.
Amazon recently did this exact same thing, cutting the commission rates for certain products down from 10% to 4%, or even as low as 1% in certain niches. You might have no idea that you are now promoting a product that’s only paying you a $5 commission when it was paying you $65 per conversion for the last three months. Always, always, always re-read the terms and conditions of any affiliate program as soon as it is updated.
7. Using The Wrong Ads
Another reason your revenue can drop overnight is if your banner or display ads get banned. It happens every single day. You may not realize why your ads were banned. Maybe the affiliate program revised their content strategy, or maybe Google updated their algorithm, and that ad is no longer effective.
Even if your ad isn’t banned, the truth is that some ads just don’t convert. Before putting any ad on your site, ask yourself, “if I was looking for this product, would I myself click on this ad?” If the answer is no, then don’t waste your time or your website’s real estate. Look for promo materials and ads that are proven to convert, look great, and are a fit with your niche and site design.
8. Giving Up
The number one reason people fail, not just with affiliate marketing but in literally any area of life, is that they give up. Everyone faces challenges on their path to success; the people who actually succeed and make it to the top don’t give up when the going gets tough or when the $10,000 paycheck doesn’t show up in the first three months. You have to stick with it, try new things, adjust and find ways to stay inspired and motivated even when things are not going according to plan.
Affiliate marketing is making more millionaires than almost any other business, and you can definitely achieve the same results as those making that kind of money, but you need to be in it for the long haul; get rich quick schemes don’t work, rather it’s hard work, patience, and perseverance that are the hallmarks of those who are successful not only in business but in life in general.
As more and more people discover the potential of affiliate marketing, the already crowded field is only going to become more competitive. That’s a good thing. It means that many businesses are making a fortune with it. By avoiding the mistakes that so many people make, you can set yourself apart from the crowd, grow your business and be successful with affiliate marketing.
There is certainly no shortage of money to be made with affiliate programs, so do your best to avoid the pitfalls, and with a little bit of luck and lots of hard work, you too might be the next big success story.
This post has been written by Michael who is working at LeadsAtScale