In the last 3 months, I've been able to attempt affiliate marketing from 3 countries. India, Malaysia & Thailand. I'm here in Thailand just for a holiday but it's still necessary for me to keep an eye on my campaigns.
In this short post, I'd like to just point out an analogy that's really helped me understand success in affiliate marketing.
Affiliate Marketing is commonly perceived as being passive but to SOME degree you need to keep checking up on things and tweaking it here and there. It's been about 7 days since I've been on this holiday and I've made about 1k profit doing extremely little work too maintain it.
If I were to count the hours, I would have 'worked' about 2 hours all up in these 7 days. Although this seems great, I know from experience it's not forever lasting. You see, every campaign has a 'campaign life'. It will at some point, die off and you'll have to either pause it or stop promoting it altogether depending on the reasons for it's 'death'.
The Great Gold Nugget Hunt
I like to think of affiliate marketing like going on a big gold nugget hunt. Gold nuggets referring to profitable campaigns. Basically the more campaigns you set up and the more experience you gain with your niche & traffic source, the better & higher chance you have of finding these golden nuggets. The aim of the game is to find as many gold nuggets as you can. The more gold nuggets you have at one time, the more you'll be making every day. It's as simple as that.
For example, if miner Joe digs 5 holes before he gives up gold hunting compared to miner Terry who digs 200, who's more likely to find at least one golden nugget? Miner Terry of course. Yes, they both might not find one but what if miner Terry dug 1000 holes? Or 10,000 holes? What I'm trying to say here, is that the more campaigns you build, the more chances you have of adding to your passive income stream. I learned this the hard way. Twice I got too complacent and did very little work when I had $200/day profit campaigns. After a couple of months, I'd start to hit negative ROI and be in panic mode frantically searching for profitable campaigns. During these times, I'm more hesitant to spend money which makes me take longer to find things as my testing budgets are slim.
For this reason I now make it a core activity to spend half my working time building completely NEW campaigns. The rest of my times is shared between reading, attempting new things, tweaking, testing existing campaigns, working on this blog and other long terms strategies etc.
If there's one thing I've learned as a some-what beginner to intermediately experienced internet marketer from this is to work out the process of finding successful campaigns in the niche & traffic source of your choice and replicate the process till you find a good amount of profitable campaigns.
For example, AffPlaybook held master classes a month or so ago which I participated in. 12 EXACT Long Term & Short Term Strategies were shown. All I'm doing these days is just picking one and attempting it at least 100 times or till I hit a $100 profit day. I mean, these are proven strategies that have made people millions of dollars, why would you try re-invent the wheel when the process is laid right in front of you?
Just find something that is making people money, make sure you get the process right and multiply it 100 fold. You're bound to find at least one winner and you can take it further from there. If you still haven't found something, do it another 100 times. Yes, it might be costly and tedious but in time, you'll get better and better at it and you'll have a nice stream of profit coming in to fund these test campaigns. Make sure you have a stop-loss budget for campaigns that are bad performers. I spend about $20 on a campaign and if I see no conversions than I move on.
Affiliate marketing is full of hard work, especially at the start. The ones that seem to make it in this industry are the ones that are prepared to put in the boring, repetitive but extremely fruitful work. Of course things will get easier as time goes by but for now just grind it out.
I've named 2014 the year of the G.R.I.N.D
Make it yours too
All the best