Hello, my name is Tony, and I am a failure…

Hello, my name is Tony, and I am a failure…

Ok so not the most  inspiring opening may be, I mean why would you want to listen to a failure, right?

Well for starters, because I am willing to talk about my failures, and for another, because my failures might be a stepping stone on the route to your success!

Failure Number 1.

So first let me be clear where I have failed recently in my online marketing journey. The first failure, is my projected income vs my actual income in affiliate marketing. Back in May I published on my blog a public record of my month by month Affiliate Marketing income target. By month 5 I was targeting $1506 as income.

In reality, for month 5 my income was $306.50. Somewhat short of my target

Failure Number 2.

Failure number 2, puts failure number 1 into perspective. You see, to generate that $306.50, it only cost me $800.  Yep that’s right, I lost about $500.

So now you know what a failure I am, let me tell you why I am not despondent, and how this might benefit you.

Failure is ALWAYS an option.

By that I mean, we fail, only if we choose to categorise an event as a failure. So whilst I have not met my targets, I have learnt a lot of valuable lessons. So whilst you may choose to see  this as a failure, I choose to see it as investing in my education!

I generated the $800 cost through buying traffic (i.e. I paid someone to promote my offer and send visitors to my page.). As a result of them sending traffic to my offer I got 6 people buying a product, but I got over 400 people signing up to me email list.

I learnt that, the right campaign can bring in benefits other than immediate sales.

Email Follow Up

So now, as a result of my ‘failure’ I have an extra 400+ people I can email to daily…which of course I am doing…. In fact you might be watching this now as a result of an email I have sent you. It is a proven fact that the majority of people do not buy the first time they see an offer.  I read somewhere recently that it takes an average of seven messages before someone will buy a product. So I now have the potential that some of those 400 people may well decided to act on the offer I am promoting. And indeed I know that at least three of them bought not as a result of the initial offer, but as a result of my email follow up.

Identify your source

So that’s another thing I learnt. At first, because I was using the same link in my emails as I was on my offer page, I could not tell where the sales were coming from, but because I changed things so that the email sent people to an identical offer page (but with a different page ID) I can now tell where I am generating sales from.

I have also learnt that, currently, the traffic/offer mix I have is costing me money. So I need to look at two specific aspects of that challenge.

1: Is this the right traffic source.  Are the visitors I am being sent the right sort of people. To check that out I am about to run exactly the same campaign, but with a different traffic source. I will pay someone else to send traffic to the same (but differently labelled) page, and see if I get better or worse results. That will tell me a lot about the traffic I am getting.

2: Is this the right offer. If the traffic source is of the right quality (people who want to buy affiliate marketing training) then I need to maximise the income the visitors generate. So for this I will re-examine the offer in its fullest sense – The product (is it the right product, do I need to change t or add to it), is the copy (the advertising words I use) compelling, do I need to change the wording to see more sales, is the quality and frequency of my emails right.

By looking at these elements I need to see if I can increase the initial sales to cove my advertising costs, and then look at how I can increase after sales income to start turning my efforts in to profit.

A step in the right direction

So, for me, whilst $500 loss is not a sustainable business model, it is not a failure, it is merely a step towards achieving my stated goals and objectives.

 

 

 

 

 

 

 

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Tony and Tanya