Internet marketing is a multi-faceted process. If you’re relying solely on one source of income, you’re leaving yourself vulnerable to fluctuations in the market and changes in consumer behavior. That’s why it’s so important to have multiple income streams, and the two most powerful ways to do that are through affiliate marketing and launching your own products.
Affiliate marketing is all about promoting other people’s products to your own audience in exchange for a commission on sales. This is a great way to generate income without having to create your own products, and it can be a powerful tool for building relationships with other marketers in your industry.
Many online entrepreneurs dive right into affiliate marketing because, on the surface, it seems like the path of least resistance for someone that’s just starting out. However, affiliate marketing is not without its share of challenges.
You may lack knowledge and experience in affiliate marketing and the MMO (Make Money Online)niche itself. You’ll have to gain knowledge and experience through education and mentorship programs, such as online courses, blogs, or forums.
At first, it may be difficult to find the right products to promote that will resonate with the target audience. You’ll have to research and test various products in the MMO niche to find those that best resonate with your target audience.
High competition in the MMO niche can make it challenging to stand out from the crowd. This is one of the biggest challenges for you in today’s marketplace because you have to create a USP (unique selling position) that will entice buyers to purchase through YOUR affiliate link. This is going to require adding additional value to the offer you are promoting in the form of a BONUS incentive that buyers can only claim when they purchase through you. This means you’re creating products whether you’re doing affiliate marketing or product creation.
Getting clicks on your affiliate link is extremely tough when you don’t have a following. You need traffic but a limited budget for advertising and promotion will hinder your ability to reach a targetted audience. All you can do for traffic, in the beginning, is start small and focus on low-cost marketing strategies, such as social media marketing or content marketing. Just remember that these methods take time and they are slow to produce results.
Another challenge for those just starting in affiliate marketing is establishing trust and expert authority so that people will take action based on your product recommendations. Building trust and credibility with potential customers is huge, especially in this niche because people are inherently skeptical of MMO-related products and services. You have to do your best to establish yourself as a trustworthy authority in the MMO niche through consistent and high-quality content creation and engagement with your audience. This takes time and taking shortcuts here will only hurt you in the long term.
Even if all the things I’ve already mentioned are working in your favor you may still find it hard to convert your traffic into sales, because that requires effective sales copy and persuasive messaging. This skill will come with time as you practice and find your marketing voice. You can improve your sales copy, email copy, and marketing messaging by studying the best practices and testing different approaches.
Affiliate marketing may seem like the fastest way to make a quick buck when compared directly to product creation but there is a lot that’s required below the surface, and the gurus seldom tell you that. Ultimately Balancing the time and resources required for affiliate marketing with other aspects of running an online business becomes extremely challenging, especially if you need to make money fast!
You may not want to hear this but I’m going to tell you anyway… Remember that this is a BUSINESS, and business requires an investment of both time and money. If you need money quickly then maybe you should consider a second job. If you are currently struggling with financial hardship in your life then this is NOT the right time to start a business! A new business requires you to learn new skills and practice them. You’ve got to make a plan and prioritize time management to ensure that your affiliate marketing efforts are balanced with all the other aspects of running an online business.
Another aspect of running your own online business is creating and launching your own digital products. By creating your own digital assets, such as ebooks, courses, or software tools, you’ll be able to establish yourself as an expert in your field and build a loyal customer base that will continue to buy from you over time.
Creating and launching your own digital information products may seem complicated and scary at first BUT, nothing can be further from the truth. It will take just as much time if NOT less time to launch your own product as it will to make a profit in affiliate marketing. And with your own product, you can leverage the power of THOUSANDS of affiliates sending you sales as opposed to just trying to make sales by yourself of someone else’s product as an affiliate,
As the vendor, YOU are in control. As the owner of the product, you have complete control over its content, marketing, and pricing. This allows you to tailor the product to your specific audience and goals.
You also have a much higher profit margin because the cost of production and delivery is low. You can also sell the product repeatedly, which can generate passive income over time. Most importantly you keep 100% of the money made from your customers PLUS 50% of the money made from all the customers referred by thousands of affiliates.
As a vendor, you are also building what is arguably the most valuable asset of any online business. A CUSTOMER LIST. Launching your own products can help you build a subscriber list of customers and affiliates, which will lead to future sales and partnerships. You can then monetize that customer list over and over again as an affiliate. This is how the big gurus make so many sales and dominate those leaderboards, they promote product launches to their customers which have bought their digital products in the past. They already have established trust with those buyers and making affiliate sales becomes much easier than dealing with cold traffic.
Launching your own products allows you to build a brand and reputation in the MMO niche, which can lead to more opportunities for future product launches and affiliate partnerships. This will establish you as an authority in the MMO niche and give you credibility with potential customers and affiliates in a way that affiliate marketing alone simply can not accomplish for you.
Remember that the products you launch become digital assets that continue selling and making you money over time. This is how you develop multiple streams of income through upsells, cross-sells, and ongoing customer engagement. with your own products, you have the flexibility to update and improve the product over time, as well as to offer different pricing and delivery options.
To be successful in both affiliate marketing and product launches, it’s important to build a subscriber list and develop relationships with affiliates. Your subscriber list is your most valuable asset, and it’s crucial to provide them with valuable content and products that will keep them engaged and coming back for more. And by developing relationships with affiliates, you’ll be able to leverage their audiences to drive more sales and grow your business.
So there you have it, guys. If you want to create multiple income streams in internet marketing, focus on both affiliate marketing and launching your own products. But remember, creating and launching your own products is by far more powerful than just affiliate marketing. Once you’ve launched your own products you will have a list of customers to promote products to as an affiliate. Creating and launching products produces a list that you can do affiliate marketing to and results in having your own portfolio of digital assets to continually leverage. Affiliate marketing alone can be profitable but will not produce a list of customers or any assets to leverage in the long term.
My best advice to someone starting out in Internet Marketing is that they create valuable digital assets that will continue to sell over time. Develop relationships with affiliates, who will promote your products to their audiences and send you traffic. By doing so, you’ll become a more powerful affiliate because you’ll have a list of customers that already bought your stuff and you’ll be well on your way to building a successful online business.