A lot of people have become entranced by the new world of possibilities that is affiliate marketing.
From desperate housewives who want to make more money, to seasoned CEOs tired of their boring daily routines, it’s becoming ever more common to know people who have done it; who have said goodbye to their witless lives and have decided to start studying the system, reading blogs and catching tips on shady forums.
This article aims to give you another perspective. In fact, it will let you know about 5 rookie mistakes you just can’t make if you’re actually serious about your affiliate marketing journey while you’re promoting products online — many of which we cover in our free affiliate marketing guide and blog.
Ready? Here we go.
Mistake #1: Changing your bid just because you think you have to
The bid is a crucial step when it comes to campaign optimization. Indeed, it’s the sort of thing that can really impact a campaign, creating a success out of thin air.
For you to have the perfect bid, you need to be aware of ratios like the eCPM – the revenue you get for every 1000 impressions.
This is how you get the bidding problem solved: by knowing how much you’ve gotta spend before starting to lose money, you’ll be ready to weather any storm.
Imagine you’ve got a low eCPM but a very high bid. In this case, you should make sure to lower that bid to the value of eCPM of that specific campaign.
On the other hand, if your eCPM is high but you’ve got a low bid, you should obviously increase that bid until it reaches the eCPM value (maybe even higher in case you happen to be playing with SmartCPM).
Mistake #2: Being afraid of splitting campaigns
At times, you know there’s that amazing parameter that’s responsible for getting a huge chunk of traffic on a campaign (it can be a browser like Microsoft Edge).
However, it seems to be having a rotten performance (showcasing a low eCPM) compared to the other aspects.
What to do? You split test!
You shouldn’t be afraid to remove that specific part from a campaign, inserting it on another that’s just directed at that parameter, adjusting the bid bearing the eCPM of that particular browser in mind.
Why do this?
Because it allows you to check the target for those categories that perform so differently.
You can also stop a particularly awful parameter if you’ve been able to understand there’s nothing left to go for it. Be aware that there is such a thing as too much splitting.
Remember: the more separate campaigns you create, the more you have to work and the less productive you become. You’ve been warned.
Mistake #3: Not caring about top campaigns
Never forget that your business is dependent upon your best, top-of-the-line, cream-of-the-crop campaigns. This means you shouldn’t be afraid to “waste” your time analyzing them thoroughly on a daily basis.
This is not an invitation to optimize top campaigns like a psychotic maniac – it only means you’ve gotta be mindful of swift alterations such as a change in ranking/position or a hungry competitor.
Do you feel you’re experiencing a sort of variation that can’t be explained by neither competition nor ranking?
Then you should definitely check whether or not your impressions/costs are still the same.
Mistake #4: Not increasing capping when you get good margins
Let’s pretend you’ve got amazing margin rates. Let’s assume you’re getting percentages such as 100% on a daily basis.
What should you do? Increase frequency capping!
If you happen to have a campaign in which you rule the 1st position (meaning you’re getting traffic of remarkable quality) then increasing the capping can help you go to a whole other level.
It’s easy to know why: if you’re getting that cash with just one showing, imagine what you could accomplish if you showed your ad 2,3 or 4 times a day?
Mistake #5: Not optimizing banners
A banner is your hook. It’s the reason why people either click your offer or run away from it.
One of the rookiest mistakes of all time is when newbie affiliate marketers reject the notion of banner optimization as if it were a viral disease. Indeed, you should always analyze a banner’s performance bearing the eCPA (cost per acquisition) in mind.
They all happen to be even as far as eCPA is concerned? Then check the CTR – Click Through Rate – a rate that allows you to get the percentage of clicks compared to the number of impressions.
If a banner has a low CTR, it just isn’t working and you should change it. When you create a sort of album with the best and most awful banners, it allows you to recognize what you did right and wrong.
This process is super important because it makes you understand what you’ve gotta do to maintain the banner quality that guarantees impressions/conversions.
Moreover, you should always be bold, testing new colors, different fonts, layouts, and images, etc.
What’s the bottom line?
Now that you’ve been able to check these 5 oh-so-common mistakes, you have what it takes to begin your affiliate marketing path to online success!
I hope you read these paragraphs as many times as needed so that you really avoid being another quasi-successful Media Buyer that bit the dust too soon.
Here’s the deal: this is a fiercely combative and competitive game. There’s a lot of work, analysis, optimization and general whining that everyone’s gotta go through before getting to enjoy a proper success.
Even so, never give up and spend as much time as possible learning in order to avoid the most important mistake of them all: starting too strong and too soon.