General advice on the Use of Your Hosted Domain Name
Most of you especially in the early stages of setting up and becoming comfortable with having a hosted Web Site with a Domain Name will probably “cut your teeth” on “Digital or Internet Marketing” using Affiliate Products.
One of the early pieces of advice you will get is to find a niche market and specialise in this market i.e. promote product and seek to build traffic etc. That is good advice but to be realistic in the early stages until you become more experienced, you will probably spend a lot of time literally promoting anything and everything. There is a learning curve and until you make a few mistakes and settle into a more strategic mode “trial and error” will be a part of this learning curve.
Is Affiliate Marketing a Guarantee for Success?
The simple answer like most things in life is no.
People do fail at affiliate marketing, and if I said that everyone who has ever dabbled in affiliate marketing, ended up reaping success I would be misleading you. A few reasons for failure are listed below.
Those who push Affiliate products are always keen to display the level of Income they have achieved with the product. Their boasts may or may not be true. However what they will never tell you is that they almost certainly have built up a large customer base or customer traffic. When they “trial a product or launch a product” they have a ready made audience to send the offering to. If you are new to this business then your audience or traffic is non existent. Digital Marketing is a numbers game. You need traffic coming to your Domain Name Web Site before you will get buyers. Even if hundreds of traffic sources arrive (also known as hits) on your site the number who will buy is a very small percentage.
The Internet including Social Media is flooded with content about “easy” ways to set up “passive income” from affiliate marketing. If it were so simple, why isn’t the whole world doing it already? Ask yourself the question; why are these “gurus” teaching you to do it instead of benefiting from it themselves? Do not be taken in by photos of large properties and flash cars!
If you want lasting results you rarely achieve anything quickly. You don’t become a tennis player or an athlete overnight, and you don’t get rich fast from affiliate marketing.
Many seasoned affiliates will eventually admit to you that it took years of hard work before they started to make a substantial income. But when they start to become successful, the years of self-education, analysis, and hard labour start to pay off, often at a very large incremental rate compared to what they previously earned.
It also applies to brands running affiliate programs. When starting an affiliate program, do not expect it to turn your business around in a matter of a few weeks! In the most successful affiliate programs that a known affiliate marketeer has built to date, it took around 13 months to reach substantial and steady success.
Launch Product and Sit Back and Relax Strategy
I’m sorry if this will disappoint you, but no, you cannot just set everything up, and let it run for you, creating a steady a continuous money stream, while you do a world tour based on the income.
The Internet is a dynamic environment, and in such a fast-evolving industry as Affiliate Marketing, you want to constantly keep your finger on the pulse of things. What is currently in demand today can be obsolete in a few months.
Think how quickly technology changes. Technology will affect you! Things such as search engine algorithm updates to industry-specific challenges… To stay a step ahead of your competition, you must constantly evolve, responding to challenges, and taking advantage of new opportunities.
Failure to Diversify
“Putting all your eggs in one basket” has never been a good strategy anywhere, and affiliate marketing is no exception.
If you’re an affiliate, do not rely on any one promotional tactic or on any one marketing channel. If you’re a brand, do not let your affiliate-referred revenue come primarily from a small number of affiliate types (the classic example would be that of relying largely on deals-oriented and incentive affiliates). Branch out to all the other types of affiliates that may fit your business model.
To be (and stay) successful, you want to diversify at all times, and by all means! However, do not overcook the situation. You could become so diversified that you now have a “scatter gun approach” i.e. you know a bit about everything and not a lot about anything. This will result in limited income from your affiliate products.
Summary & Conclusion
Few things in life are easy and Internet Marketing and/or Affiliate Marketing using your Web Site Domain Name are no exception. To be successful will take many hours or work. You may be able to reduce the time taken by employing a guru and there is nothing wrong with that but it will cost money. The huge drawback in seeking to employ a guru or expert is which one to choose where the outcome will be successful? On three separate occasions I have paid sums of money for expert help (albeit at the lower end of payment scale) and on all occasions they achieved no success for me. And yes I did what they said, but I did not tell lies or falsely represent the promotion being made.
So be careful, unless you have a lot of money you can afford to loose there is no guarantee that expensive coaching will provide a good result especially if you want to operate in an ethical manner.