The performance marketing industry can be very profitable for you; however, making money does not happen overnight. Before you rush into selling the hottest product on the market, there are a number of things to avoid to make sure you’re successful enough to eventually retire in the Caribbean.
1. Choosing the Wrong Product
A cursory scan of past performance marketing programs shows that there have been numerous failures due to publishers working with offers that simply don’t convert. In other cases, products may have negative reviews or are simply viewed as counterfeit and should not be touched with a ten-foot pole. To avoid this pitfall, do your research and choose a legitimate offer you know will drive traffic and sales.
2. Wasting Resources
So how do you know which programs are right for your business? Just follow this simple litmus test: when evaluating available offers, put yourself in the shoes of a potential customer. Read the sales pages and call to actions carefully: would you buy the product? If not, then it’s likely that your leads won’t spend the money as well.
3. Choosing Programs with Terrible Payouts
There may be an opportunity where you come across a product that you know will sell like hotcakes, but the only caveat is that the CPA is considerably lower than the industry average. Don’t fall down this path and stick with programs that pay out well. Otherwise, your return on investment will be minimal and waste your time.
4. Failing to Collect Leads
Your hard work in inbound marketing has paid off in the form of hundreds of visits a day….success, right? If you’re not capturing leads, then you might as well send the traffic to a competitor. Before you start bringing in traffic, ensure that you have the proper platform setup ready to convert visitors into leads and/or sales. Even if you’re just collecting email addresses, you’ll be able to develop a database to which you can drip market afterwards.
5. Ignoring Numbers
Possibly the biggest mistake new performance marketers make is ignoring campaign metrics. Analyzing your sources of traffic and conversion rates can go a long way to refining your campaigns to capitalize on what makes you the most money.
Putting it all together
These are just a few of the major pitfalls to avoid in performance marketing. However, avoiding these mistakes will give you a foundation of knowledge to start making money from performance marketing programs, bringing you one step closer to financial freedom.
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