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In today's newsletter...
"Disturbing Trends In Affiliate Marketing"
I
received an email this week from ThirdSphere Hosting, notifying
affiliates that they're ending their affiliate program. Bummer,
another monthly paycheck gone.
Recently Amazon.com decided to end relationships
with thousands of affiliates in states implementing new tax
laws. My state was included.
While I'm certainly not a
"sky is falling" alarmist claiming the "death of affiliate
marketing", there are other signs that it's time to make some
serious
"adjustments" in your online business.
I'll explain it all right after this quick
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Affiliate marketing is a nice model for small
and home businesses. You recommend products and services in your
niche and you earn commissions.
But it's not so nice when you don't get paid.
I'm sure you've heard of the Stompernet fiasco
from last year. Many affiliates including yours truly were left
holding the bag after a super successful launch. While I did
finally receive some commissions after repeated contact with
them, I haven't seen another dime in residual monthly
commissions in a year now. Disappointing considering I sent them
literally hundreds of new clients.
This year I've also had other decent sized
affiliate checks (totaling more than $5,000) due to me, paid 4-5
months late for reasons that various merchants never explain.
So, what's the deal? Am I simply hooking up
with the wrong merchants?
While that argument could be made, I'm hearing
from more and more affiliates who are losing out on commissions
as well as a lot of sweat equity, after sites like Amazon.com
pull the plug on them.
Perhaps it's a combination of things hurting
affiliates lately. The recession that is affecting many
merchants, the new tax laws in many states, and yes, in some
cases even merchants who simply don't pay for one reason or
another.
While I am not giving up on affiliate marketing
altogether, I am making two important changes. You need to
consider them as well.
I'll share them with you right after this quick
time out...
C ould You Make Your
Living Online?
The freedom you get
is incredible.
But no matter what anyone tells you, it takes some work and
lots of determination.
If you're not afraid of some hard work, come read my web-based
guide at:
make-a-living-online.com
There's no opt-in necessary
-- I explain everything you need to know right at the site.
~
Jim Daniels
Affiliate Marketing Adjustments...
Adjustment #1: Diversify!!
Luckily I've been pretty well diversified since I started
affiliate marketing. I'm redoubling that effort now.
It is a big mistake to put all
your eggs in one basket when affiliate marketing. You need to be
promoting multiple products and services from multiple merchants
and even multiple networks.
Lots of Amazon affiliates learned
this lesson the hard way recently. They built up businesses
focused on promoting products from Amazon.com then had the rug
pulled out from under them. In some cases years of hard work and
reliable income was lost literally overnight.
If you are promoting affiliate
products and services via just one merchant or even via one
affiliate network, you are making a mistake. I suggest you work
with a minimum of 10 different merchants or at least a handful
of affiliate networks.
There are certainly plenty to
select from online. Just be sure to do a little due diligence
before joining each one. Read what other affiliates are saying.
Make sure they pay affiliates reliably and have been for some
time.
Adjustment #2: Focus Less on Affiliate Marketing and More
on Your Own Products and Services
This past year I've started focusing less on promoting affiliate
links, and more on my own stuff. I opened a new coaching program
along with an affiliate program via clickbank. I'm also rolling
out a new site later this month that I worked on all winter.
While affiliate marketing is certainly easier than
creating your own products and services, it is proving far less
lucrative. Why limit yourself to promoting products and services
as an affiliate, when you could be making even more money on the
other end?
Literally anyone can become a merchant and have affiliates
promoting for them instead of the other way around. It's really
not that difficult. Heck, I've been doing this for years and
affiliates have generated more than a million dollars in sales
for me.
I'm not saying give up on promoting affiliate links altogether,
but a mix of 50% affiliate promotions and 50% your own stuff is
a MUCH better formula for long term success.
All you need in order to start making this migration is a
product or service of you own.
If you do not have the time or creativity to create products or
services of your own, consider buying some licensed products in
your niche. There are lots of information products and software
available with license in just about every niche.
All you need to do is gather some top quality information and
repackage it into your own product. It can take on the form of
an ebook, a kit of products, a membership site, audio or video
training modules, etc. It's so easy to do with licensed content,
you simply do some re-writing, re-formatting, get some new
ecovers created and personalize everything as your own.
It is perfectly legal when you buy private label rights and it
is how many people you know as gurus got started. Why not do the
same thing. Many people double and triple their income when they
take this important step.
Just imagine having an army of affiliates promoting your product
via clickbank or your own in-house affiliate program. It sure
would take the worry out of which affiliate program is closing
next!
Well,
that's it for today's gazette. I'll talk with ya in a few weeks.
Jim Daniels
-
Creator of
ezWebBusinessBuilder - the world's first View it and Do
It software for profiting from the web.
P.S.
I have a new site coming out this month so keep a close eye on
your email. Due to the nature of the site, it'll be open a very
short time, then pulled off the market. (That's all I can tell
you right now.)
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