So why would he be telling me that I’m gonna fail affiliate marketing, but the truth is affiliate. Marketing is super competitive and because affiliate marketing has got such a low barrier to entry, which means anyone can do it.
Anyone can sign up to an affiliate program, grab an affiliate link and begin sharing that, which means it’s, super competitive and most people that try affiliate marketing that will fail. Now, before you switch off this video and start trying to start shopping, I dropshipping store Amazon FBA.
It’s, not all bad news, because if you listen to I’m gonna say in this video I’m gonna tell you exactly why 98 % of people that try affiliate marketing fail, the reasons they fail And the steps that you can take to make sure that you don’t fail, but not only that you don’t fail, so you absolutely crush it with affiliate marketing like I have been over the last couple of years.
So let’s dive into it, so the first reason why the majority of people fail with affiliate marketing is shiny object syndrome. Now I’ve spoken about this on my channel before so you probably know I’m gonna say this.
If you’re a regular subscriber but honestly this is the biggest killer of success at anything but definitely affiliate marketing and when I say shiny object syndrome, I just mean people that jump from one thing to the other to the other.
They see a brand-new shiny product or platform that’s been launched, and then they want to jump on that and then about a week later. They see something else that looks new and fresh, and then they want to jump and start trying to do that and what happens.
Is they never succeed at anything because they keep switching what they’re doing before they’ve, even given themselves a chance to succeed? Now I’m going to be totally honest. I’ve suffered from this.
In the past – and I still do to some extent – I still do get sidetracked by things. But you need to make sure you’re, aware of that and keep bringing your phone because backing to one thing that you’re gonna focus on and if you watch this YouTube child you might be thinking well Liam I’ve seen you do one video about one product or one strategy, and then next time you load a video.
It’s about a completely different strategy, and that is true. I bought. I try not to switch strategies are strict switch whatever. I’m, promoting until I have mastered that current one. So now I am in a position where I have got some products and things that I focused on and built up.
So they’re bringing in income, and then I can move on to another strategy or another product, or I can start being a bit more experimental. But especially when you’re starting out, you need to make sure you’re, focusing and not being sidetracked by other things.
The next reason why people fail with affiliate marketing is because they are not building digital assets and when I say digital assets, I just mean assets. So when you get an asset like a building which you own in real life, that is an asset, it brings in money to you and it’s worth something to you, so you can also build them online and their digital assets.
So when I’m talking about them, I mean things like email list, which is a list of people and you own that email list – or it could be just a social media following it could be a YouTube channel. It could be a blog which you run.
These are assets which you put time and effort into into to build them, and you kind of own that traffic, but the ultimate digital asset that you can build as an affiliate, is to promote a recurring based affiliate program where, if someone signs up to that, they Continue to stay signed up to that and you earn commissions every month that they stay signed up now.
Obviously I’ve spoken about this, a lot on my channel in the past, because it is so so important if you focus on building this. This is the ultimate asset that you can build as an affiliate and all of those other things.
I just talked about the YouTube channel: the email list, the Facebook groups they can all feed into and actually promote recurring based affiliate programs. You are literally building the ultimate asset that will continue to bring you money every single month.
Now you might see that at the moment I’ve been promoting Clickbank products and you might think well Liam. If you’re on Clickbank products, you’re, not really practicing what you preach. No, because I spent the first year in the first two years of my affiliate marketing jurnee, focusing on promoting recurring, based affiliate programs and building those digital assets.
Like my youtube channel my email list, so I have got a constant stream of money which is coming in to my business every single month, which means I can now go and try out new things and experiment with new strategies and build multiple income streams like promoting Products on Clickbank and warrior plus – and things like that now.
This is where most people go wrong because they just want to cut out that initial asset building and they don’t want to be promoting and recurring, based affiliate programs over a year and waiting for it to pay off.
They do not want to be building YouTube channels; they don’t want to be writing blogs. I mean you. Don’t have to get in front of the camera and build a personal brand. It could just be a faceless blog that you want to create, and but they don’t want to do any of that.
They don’t wan na build Facebook groups because it takes time and it takes effort, and they just want to go straight in so I get a lot of people saying Liam. How can I just do direct linking affiliate marketing, where I just send people from my affiliate link directly to the product, and I don’t want anything else to do with that, and you can’t make good money from that.
I still do that to this day, but honestly that is not where you should be started. You need to be building these assets because people love doing things like CPA marketing, where you’re, sending traffic to an offer, and then you get paid a commission and it works amazing.
It and you can make good money from it, and I’m doing stuff like that at the moment in time, but say, for instance, you’re, promoting some kind of offer, where your direct linking straight through to the offer, and you Make $ 10,000 profit, which is amazing.
You’ve, got a nice chunk of money. What actually happens with things like that is sometimes offers change. They don’t, convert anymore traffic sources, change, they don’t convert, and what can happen is your your whole business can just collapse overnight and your big offer that you whispering that’s just made you ten thousand dollars.
He’s, no longer profitable and yeah. You might go well. I’ve got 10k, I’ll just find an over offer, but then, when you’re finding something else to promote and because you’ve, not built any email list up, you’ve, not Built any any following: you’ve, not built any assets there’s.
No recurring money coming in. You then have to spend that money, some of your money on more adverts to some other offer, but there’s, no guarantee that next off we’ll convert. You might end up spending five thousand dollars trying to make this new offer.
Convert and in actual fact it doesn’t convert. So now you ‘ Ve only got five K left and now you’re starting to panic, because it’s. Your last five K and what you’re gonna, do something you have to spend that again on adverts, direct linking and it starts to dwindle, and that off doesn’t convert and you’re back to square one.
You’ve got no money, you’ve got no assets, you’ve got nothing, but if you would build those assets like I spent the first two years of my business doing and I built those recurring commissions, and I Built those email lists and stuff like that, I can then go and try a CPA offer or a Clickbank offer, and I can spend five K and if it doesn’t convert and I lose that five grand I’m, not that Bothered because I know I’ve got a constant stream of money coming in constantly, so that allows me now to experiment and try new things, and I’m, not panicking.
I’m, not chasing them on it. If things don’t work, it’s. Fine, I’ll. Just I’ll. Just try a new one next month, because I ‘ Ve constantly got that money coming in, so that’s. Why it’s so so important to build assets that bring in money.
So then, you can start up scale and try out new, more experimental things like CPA marketing, like direct linking promote Clickbank offers things like that, once you’ve built those those assets. The next reason why people fail with affiliate marketing.
I will never hit any major success is because they just don’t reinvest their profits. I know so many people I’m, not going to name any names, but people on YouTube and people on Instagram that might have started to build some kind of assets.
They might have built a YouTube channel or an Instagram following or they might have promoted a recurring Commission based product and got some money coming in, but what they fail at doing is taking that money and reinvesting it back in the business.
What they do instead is go to the club and pop the bottles, or they rent Lamborghinis or they buy really expensive clothes, and things like that and actually what they’re doing, is just living paycheck to paycheck, so they ‘
Ve got ta, wait for some more money next month to keep that lifestyle up and they’re. Never gonna be able to try out new things and experiment and upscale, so they’re, stuck where they are. So if you do start to make some money from affiliate marketing, the best thing you can do is just reinvest it back into the business.
Do not be wasting it on random things, just to impress people. If you followed me, you will know that I made six figures in my first year of affiliate marketing and I did not even get a new car. I was driving a Peugeot 206 for the majority of it.
I’ve, now upgraded like a BMW, which is still a fairly modest Park. It’s, alright, but I made sure that every penny I earned went back in I didn’t, go blowing it. I still don’t waste money to this moment on stupid cloves.
Someone said I’m, one of my youtube videos every day, the guys making a grand grand a day profit and he’s wearing the same t-shirt in every video. I mean it’s because I’m. Not just wasting it for the sake of waste and I ‘
Ve got a bigger goal in mind and obviously I do treat myself from time to time, but their business comes first and I am working towards a bigger goal. So if you want to stay at 1 km on 2 K month even 5k, a month, then by all means spend your profits.
But if you want to be reaching 100 K per month and Beyond, then that’s. When you need to start reinvesting and then when you start making 100 K, that’s, when you get your Range Rover or your Lamborghini and all that kind of things, just don’t don’t.
Do it too early on please don’t? Do it too early on to try and impress people now? The next reason why people will fail with affiliate marketing is because they are not tracking and they’re, not split testing.
Now, when I first side, I didn ‘ T really do this, so there is hope that even if you’re not not doing it, you still can become successful. But I genuinely think looking back, I have lost out on probably hundreds of thousands of dollars because I wasn’t tracking effectively at the start, I now I’m tracking and split testing and my profits have gone through the roof.
Now, if you don’t know, I’m talking about on your new to affiliate marketing, basically track him is just you can get link tracking software specifically for affiliate marketing, so the one that I use is called volume and you can Actually get a discount with my link in the description you can get it for like 40 dollars a month, but basically it allows you to track your links and then you can see where those sales are coming from.
So, even if you’re doing free organic traffic and you’re, promoting your affiliate link in a Facebook group and you promote in your affiliate link under a YouTube video and in an email. You kinda need to know where then sales are coming from, so you can kind of focus on one area more than the other, so it is really important.
But obviously, if you’re paid adverts and you ‘ Ve got four different adverts on different platforms or different websites. You need to know what’s working and where the sales are coming from.
So you can cancel the stuff that isn’t working and that’s. Why? It’s really really important and split. Testing is just a variation of that where you basically have two versions of something and you run traffic to it and you see which one converse best.
So if you create some kind of funnel and affiliate marketing funnel and you’ve got a landing page. You could have two versions of that landing page send clicks to both of those landing pages and then you see which one converts and you can get rid of the other one and you can dig even deeper and you can split test offers and things like that.
But that means you can optimize your campaigns and only focus on what works, because what a lot of people do when they start out, they will start to promote something and they’ll, send one advert they’ll, create one advert.
They’ll, create one landing page to one offer. They’ll, send traffic to it. It won’t convert and then they’ll go right. I’m, sucking it off. I’m gonna move on to something else, but it could have just been one element in that funnel.
That was letting the rest of the fall down. So it could just be that your advert was a bit wrong. So if you actually split testing multiple advert, you might be able to make that super profitable, but you never would know that if he wasn’t tracking, so that’s.
Why tracking is really really important? The next reason why most people fail with affiliate marketing is because they’re, not constantly challenging themselves and learning new skills. This is something that I do on a daily basis and always trying to learn new skills and learn new things: whether that’s watching YouTube videos, reading books, podcasts buying courses, I’m constantly trying to better myself and even if something Is working I’m, always trying to make it bout, because what a lot of people do you sell, they ‘
Ll, learn something or they’ll track. They’ll, get something to work, whether it’s, a certain funnel or a certain traffic sauce, and it might be bringing them a bit of money and that’s it and then they’ll.
Just they’ll, just live off that kind of mediocre income and think that’s, that’s, all they can achieve. But I’m constantly. If I learn something new, I’m, trying to better it and come up with different ideas, and I’m trying to test new things at the moment.
I’m learning, copywriting skills from like experts, and I’m trying to make everything better and constantly improving myself and that’s reason why people always ask Liam: how would you come up with all these amazing ideas and Strategies and it’s because I’m.
They’re, all my own ideas, but I’m watching over people. I’m learning from courses and then I’m like how can I better this or what can I do to make this better, and I’m constantly challenging myself, and that is why I keep finding these new little Strategies that other people aren’t doing so you need to make sure you’re living and breathing affiliate marketing and your YouTube homepage.
She’s only be recommended marketing videos and things like that. If you really want to crush it and be really successful, I mean you can watch some stupid cat videos if you want on weekends, but I mean you get the idea, you want to be constantly learning new skills and trying to better yourself, and that will really Allow you to be successful with affiliate marketing, talking or learning new skills.
If you want to learn a little bit more about affiliate marketing, I have got some free training, a master class in the description. If you want to check that out, but that’s, everything for this video – I hoped you enjoyed it.
It’s a little bit different to the usual tutorial videos that I’ve been putting out, but I’ll. Try this out to see whether you actually like content like this, where I’m, just giving away value and tips and stuff like that, because obviously I can’t do a new tutorial every day.
But if you like this kind of video, it means that can put out more content so make sure you, let me know in the comments and hit the like button and hit the subscribe button. If you like the prior content.
Also, if you’ve got any questions, just ask them in the comments box below. I always make sure I answer all questions so make sure you just type them below, and I’ll answer them thanks for watching thanks a lot cheers guys, you