There’s a lot of hype surrounding affiliate marketing in general. Most of the ridiculous claims out there today like a one-click software product that can instantly earn massive commissions each day is the work of con artists and scammers who are out to get your money. Others hide their true intentions behind self-proclaimed guru status when it comes to make money online niches and the digital marketing industry. You’ll soon learn that many of them are offering outdated one-on-one or group coaching services, mentorship and training that have been copied from other scammers. But this is just a tip of the iceberg so to speak when it comes to the problems of many affiliate marketing companies, especially ones that are just starting out with their ventures.
Many affiliates with beginner to intermediate experience tend to struggle when it comes to building and sustaining their businesses. Lots of people have been misled to believe they can quit their jobs and work like a boss in their pajamas at home, earning huge amounts of money on the Web through affiliate marketing. Though this is quite an attainable goal, this almost never happens overnight, so like any other business model — Your goal should be to learn the fundamental ways to steadily build, grow and sustain a business. That’s how you should treat an affiliate marketing venture.
So now that’s out of the way, we can focus on more important things, such as the top 5 challenges that many affiliates encounter from time to time, especially during the beginning of their business ventures. Regardless of the con artists and scammers trying to take advantage of the industry, affiliate marketing is still among the simplest and quickest options for starting to run a sustainable business on the Internet today. That’s because with this model, you won’t need to worry about developing and supporting products, managing payments, delivering orders and handling problems of customers among others. Instead, you can focus on building your subscriber base and promoting to them the newest products of your merchant partners.
You then earn commissions for each customer you refer to the offer pages of your merchant partners. Of course, they need to perform an action that’s beneficial to the merchant. For example, the standard affiliate marketing model is where you as an affiliate gets paid whenever your referral buys the merchant’s product.
However, there are other models that appeal more to other affiliate marketing companies. There’s CPA, which stands for cost per action. Generally, this is where merchants pay commissions for each qualified lead you refer to them. Your referrals should however match pre-defined parameters like their locations, ages and professions before you can get paid. In most cases, when you take them to the merchant’s landing page through your affiliate links, they’ll need to fill out a form.
A few alternative models are known as CPD (cost per download) or CPI (cost per install). The former is mostly used by content authors and publishing groups that sell ebooks, videos, songs, recorded podcasts and the like. As the name suggests, affiliates are paid for each referral who downloads the merchant’s products. Meanwhile, the latter is widely used by many retail software development firms and mobile app developers. They pay their affiliates each time their referrals install the merchant’s software product or mobile app. However, many merchants require installs to be performed by users who match their pre-defined parameters (mostly location-based).
So back to the top 5 challenges that many affiliate marketing companies face in this day and age. Here they are, along with simple solutions that can help you avoid these problems:
Top 5 Challenges of Affiliate Marketing Companies in 2019
- Wrong, Misleading Information — As described earlier, many con artists and scammers publish outdated information and pitch their training offers and products as the next big thing in affiliate marketing. But this isn’t just the source of this problem. You see, this creates a Russian doll situation where their unknowing victims are fooled to believe that the fastest and easiest way for them to earn commissions is to pitch the same products and training offers to other newcomers to the affiliate marketing game. So what do they do? They publish their own versions of wrong, misleading information in an effort to generate commissions for themselves. This further pollutes the World Wide Web with useless information on how to do affiliate marketing. Well, the ideal solution for this problem is to go back to learn fundamental business strategies. After all, affiliate marketing should be treated as a business model. No more, no less.
- Earning Commissions for the First Time — A lot of affiliate marketers struggle to do this, even those who have already been trying for a significant amount of time. The talkingAds Ltd. solution is again, to go back to learning fundamental business and marketing concepts. Ignore the latest tricks and hacks. At the end of the day, the most effective methods are those that have withstood the test of time.
- External Pressure — It can be quite challenging to explain affiliate marketing to your spouse, parents, children and friends, especially if you’re using up a lot of your time and money doing things in your computer that they have yet to understand. The simplest solution is to explain what you’re doing in the exact ways you began to understand it. So treat them like how you were when you didn’t know anything about affiliate marketing, and teach them the way you should’ve been taught (especially now that you know how it should’ve been taught to you).
- Niche Marketing — At the early stages of their businesses, lots of affiliate marketing companies find it a bit difficult to understand niche marketing. This is an important step when you want to out-do large competitors with deeper pockets for advertising and marketing. The quickest solution is to think of this as zooming your focus unto an area of a larger market. For example, if you intend to pitch affiliate offers in the retail software industry to a viable target market, then you can zoom in on a more specific segment of this market, such as 25 to 35-year old professional bookkeeper freelancers in the financial industry of North California who prefer to use Microsoft Windows 10, Microsoft Office and Quickbooks for their work-related needs.
- Shiny Object Syndrome — This is where affiliates are swayed by the promises and guarantees of the newest tools and technologies to help them earn silly amounts of commissions with very minimal work. Simplest way to avoid this problem is to ignore these and move on to learning fundamental business and marketing concepts. It’ll be a more productive use of your time.