The Truth About These 5 Affiliate Marketing Myths
With so many misconceptions about affiliate marketing, business people of all types are missing the gold...
Bad information keeps many people from making money online.
People give a half-hearted effort to one form of marketing, get disappointed that it didn’t work, and then cry out to the world that it no longer works…
How many times have you seen one of these headlines:
“Email Marketing Is Dead!”
“SEO No Longer Works Thanks to Google…”
“Content Marketing Has Lost Its Luster…”
Or the big one:
“Affiliate Marketing Is For Scammers!”
When something is proclaimed dead or not working any longer, it’s probably because someone was gaming the system and the system owners plugged the hole.
Ethical marketing always works in the long run.
That’s why Affiliate Marketing has worked for decades and will continue to work for the non-scammers of the world.
Beginners CAN learn Affiliate Marketing!
But the headlines persist, and the myths and misconceptions flourish.
Let’s talk about the top 5 affiliate marketing myths today...
1) Affiliate Marketing for Beginners Is Easy...
There's a misconception out there that the newbie online marketer can grab an affiliate link, put it on their Facebook page, and the money will start rolling in.
Not so fast...
Affiliate marketing like any other business model IS a business.
And it has to be treated like a business.
While affiliate marketing may be the exact business model you need as a new entrepreneur, it's important to understand and accept that it is NOT a get-rich-quick scheme. Can you earn money with affiliate marketing though? Definitely.
As with any business, your primary job is to present a solution to a market with a desperate problem. The problem must be so severe that they are willing to pay for that solution quickly.
Is this beginning to sound like work yet? It should.
Affiliate marketing can be VERY rewarding, but it is not easy, especially if you have no business experience. But affiliate marketing can the be best way to learn how to build a business with very low-risk.
Your investment as an affiliate marketer is low because you don't have any product or delivery costs. Your focus has to be on building a market, knowing that market inside out, and learning how to sell.
These are essential skills for any business owner to master.
Driving traffic and measuring conversions to build your marketing list is the primary tool of every affiliate marketer.
2) Affiliate marketing doesn't work anymore...
The days of throwing a link up on the social marketing sites and making a million dollars overnight are gone...if they ever existed.
Social media has heightened the importance of building relationships with your target market, and that can be a slow process.
Your followers and email subscribers must feel a connection with you. If they don't, they'll find real connections elsewhere.
Affiliate marketing not only works with an audience that knows, likes, and trusts you, but they will actually ask for your affiliate link for new products. Sometimes, they feel such a close relationship that they’ll pass around your affiliate link for you.
Affiliate marketing without real relationships (even if they’re automated) is hard but can be done with a lot of effort.
But affiliate marketing with real connections with an audience that has been nurtured and embraced works like a charm because you’re genuinely looking out for their interests.
3) The competition is too steep in affiliate marketing...
First, let’s agree competition is good.
That means there's a market for the product. If not, no one else would be trying to sell that product.
Competitors can also become your best traffic source. Using the right tools like iSpionage.com, you can target your competitors, and step in front of their traffic with better offers, Facebook ads, or other techniques.
Sound a little cutthroat?
Nope, it's just business. Once you become the Big Dog, everyone will target you too.
Your job is to offer better bonuses, better services, better support, and better experience to that market. And by doing that, you’re building a better relationship.
Find out how your competitors are building their audience (using keyword research) and jump in there to grab that audience yourself.
Business is about competition, so if that bothers you, you probably need to get a job.
4) The more I promote my affiliate links the more money I'll make...
Listen, this one is tricky.
In theory, this is true. But there are other considerations like...
Does your message match the right audience? This is where you've got to get really good at knowing your market including their hopes, dreams, and issues.
In the consulting world, they call these the FUDs - Fears, Uncertainties, and Doubts.
What is your audience trying to do? And how can the solution you put in front of them solve that issue?
Promote to the right audience and you don't have to "sell them" often because you actually become part of their go-to-problem-solver while you're building a relationship.
Spamming your links to an audience never works.
But offering a solution to a problem always works.
5) Affiliate marketing is high risk and low ROI...
Ok. There is risk in any business endeavor. In affiliate marketing, you could make a lot of sales for a product only to have the product owner go out of business.
That's always a risk.
And the return on investment could be very low, but only because you’re not making sales.
That usually means you don’t have the right message for the right target market. Conversions are much easier and ROI much higher when you're presenting the right solution to audience's problem. Then, they become customers fast.
Opponents of affiliate marketing will jump in here and declare you'd be better off building your own products, selling them online, and keeping ALL the money.
If you can't sell someone else's product and get a good ROI, what makes you think that you could invest a lot of money on your own product and sell THAT to the same target market.
Affiliate marketing is awesome because the risk is extremely low. You don't have to create a massive infrastructure to support your products. You're letting someone else take that risk on.
And the low ROI? Wrong.
Affiliate marketing can make you money...
The potential in affiliate marketing for those people who learn how to build an audience and convert that audience to paying customers is HUGE because it’s a pay-for-performance model!
The more you convert, the more you make, and the higher your return.
Of course, like everything else, affiliate marketing only works if you know how to do it correctly.
Now that we've debunked these 5 myths of affiliate marketing, let's tackle a couple big questions you might be asking yourself.
Is affiliate marketing for beginners a viable option?
Absolutely. My first real money online was a result of promoting someone else's ebook on Clickbank as an affiliate. In one weekend, I made over $750 and thought I died and gone to heaven.
It was the easiest money I'd ever made I thought. Send an email. Get cash. What's so hard about that?
Building the list that I sent the affiliate link to took a couple of months. My initial investment in that 650 person list was about $600 for a classified ad in an online magazine. So, it wasn't free, but it was fast.
And I communicated with the subscribers on that list almost everyday to build a good relationship. When I sent the email touting the ebook I'd been using to build my own first product, they snapped it up in droves.
I had identified the right problem with the right audience and presented a good solution with my own proof and experience.
Frankly, I did everything right - completely by accident because I was brand new to online marketing and sales.
But I was hooked.
The next task was to find out where to learn affiliate marketing correctly.
I hooked up with a mentor who called his email list his personal ATM machine. When he needed a new tractor for his horse farm, he sent an email to his massive list of subscribers and generated fast cash.
After seeing those examples, I didn't need to ask, "Why start an affiliate marketing business?" The evidence was named John Deere.
From that point forward, I knew that affiliate marketing was always going to be a part of my business. And it has remained about 50 percent of the NAMS business consistently over the years.
It's a great technique for revenue diversification as well as a win-win-win for me, my customers who need solutions we don't provide, and the vendor who needs sellers.
So, are you interested in affiliate marketing? How to start might be your next question.
Awhile back, a few of my members asked me if I'd ever written down all of my strategies or if I had a checklist I could pass around.
Well, my one-page checklist turned into a massive set of easy to implement step by step instructions on how to get started with affiliate marketing, how to scale your affiliate income stream, and then how to implement more advanced techniques as you make more money.
Check it out! For a limited time, you can save an EXTRA $20 when you click
David Perdew is the CEO and founder of NAMS - the Novice to Advanced Marketing System. He’s a journalist, consultant, and serial entrepreneur who has built one of the most successful and fastest-growing business training systems online today called the MyNAMS Insiders Club.
The Novice to Advanced Marketing System is a step-by-step system focusing on Team, Training and Tools to help novice to advanced business people build a Simple, Scalable and Sustainable business.
He took a year off in 2003 to personally build a 2200 square foot log cabin in north Alabama where he and his wife and two dogs and a cat live on 95 acres of forest with four streams and 60-foot waterfall.
The NAMS team includes his daughter, Jen, who is an email marketing and automation specialist. Jen runs the day to day business and is one of the primary trainers in our MyNAMS Insiders Club.