my expensive hobby · 10-07-2017 · so many people preach that when you start a blog, you should...
TRANSCRIPT
My Expensive Hobby
Maybe you are just like me. For more than two years, I was up at 5:00 AM
six days a week. I published new content every day. I was spending money
left and right on hosting, email systems, and more…and I made exactly $0.
I SAID I had a business, but what I really had was an expensive HOBBY!
The funny thing is that I knew all about one of the easiest ways to start
monetizing my blog…affiliate marketing. I’d worked with some of the top
brands in the world like Shutterfly and Adidas on their affiliate programs. I’d
worked with top entrepreneurs like Michael Hyatt, Ray Edwards, and Jeff
Goins on their programs too. And yet, I’d never done it myself.
I was ready to give up on my blog. It was draining time, energy, and money,
I was ready to give up on my blog. It was draining time, energy, and money,
with nothing in return.
That’s when I did my first affiliate promotion.
I promoted just like I’d taught others to do for more than a decade. And it
worked! I made $588 in that first promotion, with a list of barely 800 people.
I’d proven to myself that I could do this. I could make money with my blog.
And I didn’t even need a product to do it.
Over the next two years, I made more than $134,000 in affiliate
commissions. I finished in the top 10 in many affiliate competitions. I even
won a small one.
And I did it all with a list that was never larger than 2,300 people.
For years, I’d seen what the top affiliates were doing. I’d seen the power of
affiliate marketing.
And yet…I wasn’t taking advantage of the opportunity right in front of me. I
didn’t have a product, but I did have a big PROBLEM…I was losing money
fast. And affiliate marketing was the answer to my problem.
Now that $134,000+ in commissions MIGHT seem like the most obvious
benefit to affiliate marketing, but I actually have 10 more benefits you might
not have even thought of.
These are the “hidden” benefits of affiliate marketing that can help ALL areas
of your online business.
So many people preach that when you start a blog, you should give, give,
give. Content, content, content. But when you give, give, give without ever
asking for a financial transaction, it sets you up for burnout. I know because
I’ve been there.
So much of running an online BUSINESS is mental and I want you in a
money-making mindset from day one.
Repeat after me: I run an online business. And businesses make money.
When you start affiliate marketing right away, it gets you in this proper
mindset.
(1) Develop the Right Mindset on Day One
Imagine for a moment that a new store opens up across town. Whether it’s a
Walmart or a mom and pop doesn’t matter. What is ONE thing all stores
have in common?
THEY SELL STUFF! On day one!
And don’t apologize for it.
They give away free samples for six weeks and then ask you to buy. They
sell to you on day one!
Here’s the problem with an online business, though. It’s hard to know what
your audience wants on day one, so it’s hard to create the right products…
which leads us to benefit number three…
(2) Monetize Immediately
When you first start your blog, you are still learning what your audience
wants and needs. You have no idea what products they are interested in
buying, what price points they buy at, or what is the best way to sell to them.
In other words, creating a product of your own on day one is RISKY. Just ask
anyone who’s created something, ordered 1000 of them and parks their car
in the driveway not the garage as a result.
Affiliate marketing teaches you what your audience wants. You get to test
different products, topics, price points, and sales methods.
You also learn what specific people on your list are interested in. That allows
you to segment them over time.
(3) Learn What Your Audience Wants
One way or another, you are conditioning your audience.
The question is: What are you conditioning them to do?
Are you conditioning them to click links in your emails or just read the
content in the email? Are you conditioning them to expect periodic offers or
to receive free content indefinitely?
Think about this…if you have nothing to sell and go on for years or even just
months without selling, your audience conditioned. Then when you DO sell,
it’s the end of the world. They freak out, unsubscribe in droves, even send
you hate mail…seriously, it happens, people are just crazy.
(4) Train Your Audience to Click and Buy
Remember this, you are conditioning your audience one way or the other.
Make a choice to condition them the right way.
Here’s the biggest difference between someone who has a hobby and a
online business owner:
A content and promotional calendar.
When you blog for a hobby, you post when you want to. No one is expecting
much. Don’t feel like posting today? No biggie. Got nothing for next week?
Who cares!
A content calendar is the first step in putting on your grown up blogger pants.
The next step is a promotional calendar.
Think of it like a content calendar on steroids. With the attention span of a
toddler who accidentally drank your coffee.
(5) Learn How To Manage a Promo Calendar
Promotional calendars are hard to manage. You have to build up to a
specific topic and promotion. You warm your list up and crescendo at the end
of the promotion.
Starting a blog is easy and usually inexpensive, but starting an online
business requires an investment.
It’s not much. $20 here. $30 there. $50 for the guy to fix that plugin that's
crashing your site. But it adds up and it’s especially demoralizing when you
have nothing coming in.
A REAL business pays for itself. It has revenues coming in that support the
expenses going out. And affiliate marketing is a great way to do that.
Imagine if you simply had $100 a month coming in right now from your blog.
That would pay for your hosting, your email service, your images, and
maybe even for a premium theme or plugin. It could change your business.
(6) It Funds Your Business
And it could change your perception (and others’ perception as well).
Suddenly, you have a business that brings in money. Suddenly you are
turning a profit.
That does wonders for your psyche.
Whether you know it yet or not, you will have an affiliate program of your
own one day. I won’t try to convince you of that here, but just know that you
will. It’s the single best way to explode your online business.
And when you promote others’ affiliate offers, you learn how to do that.
Amazingly, after spending nearly a decade running affiliate programs for
everyone from Lewis Howes and Michael Hyatt to multi-billion dollar
companies, I learned more from promoting offers myself.
To quote Pablo Picasso: “Good artists copy. Great artists steal.”
And boy, have I stolen some good ideas.
(7) Learn How To Run Your Own Affiliate Program
I learned what I liked in an affiliate program. Every single promotion gave me
at least one awesome idea to use for our clients.
I also learned what I didn’t like. If something bugged me, I assumed it
bugged others and I vowed to do better.
Seeing things from the perspective of an affiliate has made me ten times
better at helping our affiliates.
Promoting affiliate offers taught me how to sell long before I ever had a
product of my own. I understand how to warm up my audience, how to
engage them, what copy worked best, and what worked and what didn’t.
In other words, I got to test my sales skills out on other people’s products,
not mine.
I learned when to email during a promotion, what length of emails worked
best, what subject lines worked and so much more.
Promoting affiliate offers taught me how to sell but most importantly it proved
I could. Instead of being reluctant and doubting myself when I launched my
first product, it was like second nature.
(8) It Teaches You How To Sell (And Proves You Can)
When I launched my affiliate marketing training course, No Product No
Problem, earlier this year, I had absolutely no stress about the marketing. I’d
done it 20+ times already. Creating the promotional plan for the course
launch was, quite frankly, one of the easiest things I’ve done in my business.
Here’s a little secret…even the biggest names in the online marketing world
like to get noticed.
They like to see their names on affiliate leaderboards. They like when they
promote something and are recognized. They like beating other marketers.
When you start in affiliate marketing early, you get better at it earlier and you
get noticed earlier. That means you are able to connect with other people
who can help you massively scale your business.
I know this happens because it’s exactly what happened with me. I began
promoting affiliate offers, I started getting on leaderboards, and people
started reaching out to me. Today, I consider many of those people friends
(and clients).
(9) You Begin To Get Noticed
Realistically, you don’t need to be at the top to get noticed. Being listed
anywhere is enough to give you credibility and raise some eyebrows.
I cannot stress how important this is. When you get a taste of success, you
want more.
When I made that first $588 commission, I was thrilled. But I also saw what
was possible. And I wanted more of it.
$588 became $1,124. Then I made more than $7,000 in my next one. In my
fifth promotion, I made more than $10,000 for the first time.
These amounts were game changers for my business and my life. And it all
started with that first $588.
(10) You Get a Taste of Success
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up for an awesome product later?
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From start to finish, beginner to advanced, from your 1st commission to
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