Just because you are an expert at something, does not mean you no longer fail. I wrote a post a few months ago about learning to forget your failures. You should be able to learn from your failures, but do not let them hold you back. Dwelling on your failures or negative aspects in business and life will do nothing but strangle you. Let it go!
The point of this post is about mindset and how important self confidence is when building your business and a happy life. Do you feel like you suck at marketing?
The Importance of Believing in Yourself
I have had some feedback about people being more interested in case studies and posts about making money than motivational posts, but if you want to be a full-time business owner (affiliate or otherwise), you need the right mindset. Going along with that, you need self confidence. The amount of stress you will go through mentally, physically, and otherwise is extremely intense, and if you aren’t strong enough, you will fail. It’s that simple.
I’m going to discuss two similar instances when you may feel like you are a failure, and ways that you can work to break through these feelings and less-than-successful attempts at making money.
1. Never Had a Profitable Campaign
If you have never had a profitable campaign, there are solutions for you. Think about it this way – Every single marketer, at one point in time, was in the exact same shoes. Even if their first campaign was profitable, before that campaign, they had never had a profitable one either. If you have spent time and money testing traffic, offers, and methods, you are that much closer to cracking the barrier to profits.
Please realize that I am not saying it’s easy, but with a proper structure, you are cutting out tens and hundreds of potential ‘wasted’ hours, and just as much or more in potentially wasted cashflow. Also note, I am going to explain this like you have been working on a campaign(s) and have tested at least one traffic source and promotional method.
How To Find That Profit
Here is a short list of ways that will help you turn your campaign around.
- Pick a new niche – If you hate music and do not know anything about it, don’t try to promote a how-to guide for playing guitar. You probably aren’t that familiar with the audience and will not enjoy working on this campaign.
- Pick a new traffic source – I have mixed feelings about this one, but it may be the solution. If you are very familiar with promoting your campaign on Facebook and it just is not working how you hoped, try something else. However, I will be the first to tell you that you shouldn’t just leave something too soon or you may significantly reduce your chances of finding a home-run campaign.
- Research – On one of my first campaigns, I didn’t really know the demographics or how to target them. However, I did not want to pick a new niche so I researched more and did everything in my power to tear apart the other campaigns that were running for specific keywords/products in my niche. Doing this turned it around from being a -50% ROI campaign to a pretty steady 100%+ ROI.
- Change your promotion – So you can’t get that flog to profit, that’s fine. Try something different, be unique. I posted a great video about the secrets of selling in one of my newsletter emails, I’d suggest you sign up and check that out.
- Change offer type – When I started affiliate marketing, I said there is absolutely no way I can get an offer that pays ~$4/lead profitable because of how expensive traffic is. However, after testing it a little more, I turned those small payout offers into my most profitable campaigns I have ever launched. Don’t write something off because the payout is not $35.
- Keep working – Again, on my first campaign that turned out to be my first real success in Internet marketing, I spent 3-4 weeks of consistent -50% ROI days. I was extremely upset and frustrated and ready to move on. I kept testing things and was spending increasingly more time on the campaign. I turned a campaign from losing me $50-100/day to consistently profiting $300/day.
There’s a pretty good list of aspects you can change to turn your campaigns around. I would not suggest implementing all changes at once or you will be extremely overwhelmed.
2. Cannot Seem to Find Another Profitable Campaign
On the other hand, there are times when experienced marketers feel like they have either been lucky for their profitable campaigns, or like they may have lost their touch for building campaigns that will print dollars.
Some may argue that this is a worse position to be in, but it all depends on your mindset.
Here are some ways to get back in the saddle (of making profits).
- Build on your successes – You have had profitable campaigns in the past, some probably worked very well. What did you do on that campaign? Replicate it and see if you can get something going again.
- Take a break – This is usually very helpful. Clear your mind and take a few days/week off and do NOTHING work related. I know when I am researching a handful of campaigns/niches/traffic sources, I feel overwhelmed and stressed. Doing nothing but watching TV shows and relaxing all week is usually enough to refresh my mind and get me ready to build some new campaigns.
- Change it up – If you have more experience in a niche or traffic source, you can probably get a feel for whether or not you want to continue promoting whatever it is you are promoting on whatever traffic source you are using. Just because Facebook was great for making money last year, doesn’t mean the game hasn’t changed. Move your traffic elsewhere if it is too expensive, not converting, or you are bored.
- Pick a new niche or offer type – Like I said in my post about business strategies, make sure you do this methodically. On the other hand, it may be just what you need to move away from rebills and start promoting games. Try it if you think it will light a fresh fire under your ass.
- Network – As an experienced (or somewhat at least) marketer, you should have a group of people you can talk to. These are the people you can turn to and discuss offers, traffic sources, and promotional methods. If you deliver help to them, be prepared to receive help in return. It’s a two-way street and the goal is to help everyone make more money.
- Think long term – If you are struggling because your profitable affiliate campaigns have failed, it may be time to think long term. Work on some more stable assets that you can use to carry your business in case something like this should happen in the future. Then you can use profits from your stable assets to fund your more lucrative campaigns. Doing this will also create a significant amount of value for your company and turn it from being a collection of short-term revenue streams, into a solid long-term business.
Don’t get me wrong, neither one of these situations is easy or fun to be in, but they both happen. Also, depending on your strategy, you may find yourself in this situation more frequently, but only you can dig yourself out.
On a lighter note, Ryan Eagle, owner of EWA Network, came through and delivered an amazing interview. Join my newsletter (the orange box at the top of my blog or bottom of this post) so you can be sure to get it! On top of that, there is also an interview from Harrison (from EWA) coming in the near future as well.
In these interviews they reveal:
- Their most profitable niches
- Personal qualities that drive success
- Weaknesses that hinder business and personal growth
- And plenty more!
If you are in a position where you feel like you aren’t a good marketer, hopefully you can use these tips to get yourself back on track. If you feel like you need a break, this may be the perfect opportunity – It’s Friday! Have a great weekend.
“It’s not who you are that holds you back, it’s who you think you’re not.”
– Author Unknown