Once you've protected your prospecting pool, maximize your affiliate program by working with the best and leaving the rest. As the old 80/20 adage implies, most of your revenue will come from a very small percentage of your affiliates. Because it can be time-consuming to manage a larger affiliate network, consider selecting only a few companies initially, and interview them before signing them on. Affiliates are an extension of your sales force and represent your online brand, so choose partners carefully.
Wealthy Affiliate is a good service if you’re the type of person who knows next to nothing about IM and wants a quick blueprint for how it works. There is better information out there, for sure, but what WA does well is aggregate that info and provide a very easy to follow, go-at-your-own-pace method for getting you up and running. I went through their first 2 courses in an effort to rate the quality and accuracy of the lessons they give you ad they’re really not bad. There were things I think which could have been done a little better, but all in all, I feel they provide a good primer for IM and getting started with WP.
It’s a great way to make passive income. Of course, when I say “passive”, this doesn’t account for the time needed to spend building or maintaining your WordPress site. However, in terms of having to promote these affiliate links, you can put in as much or as little work as you want to drive traffic to them. This obviously makes this a great option for a passive income stream if you’re not in the business of e-commerce.
I set out to be one of the few that would try and promote WA in a unique way, but after a few months there I began to grow more disillusioned with the product and found that it would be harder to sell because I am not going to bullshit anyone. I think it’s a decent value as long as someone enters into their membership with realistic expectations and are not in a period of financial desperation. They do provide a pretty comprehensive nuts and bolts breakdown of how to do WordPress and basic IM practices, but I think anyone who is serious about IM will find that they will quickly outrgow WA within their first year.
There is nothing that I mentioned here that is not true. Mind you, I just noticed that you have been a Wealthy Affiliate member for a short period of time. WA is not a get rich quick scheme, you’ll need to invest, be hardworking and work towards your goals. All that takes time. Don’t tell me that sharing my story how I struggled for 11 months is promising people easy money. No!
It’s an information product website and you could scream blue murder until the cows come home that’s all you get and nothing more as there are no value service packages available otherwise rumbling through a series of “How To” videos other than that the Wealthy Affiliate system really does nothing for you and that insane price of $49.00 a month!!! what’s up with that??!!
You may have noticed in my overview of the Amazon Associates site that I left out the mention of the plugin they built for WordPress. That’s because the plugin doesn’t work (at least not well). Luckily, the Amazon Auto Links plugin will simplify the process of finding new and relevant products to promote and creating affiliate links to them--all from within WordPress.
With Wealthy Affiliate they have so many multiple streams of income to where their money comes in from- the hosting, the referral program, jaaxy, the premium accounts, the illusions of all the community help that is spectacular, the writing of reviews that will promote WA and make them stand out in search engines, and social media, etc. I mean, the goal is to first help people and then make money in the process, but many of these people fail at #2. What the heck should I be writing content for to just make it a hobby and never get payed for? It’s more so a waste of my time, and I’d be crazy.
As for where I made the pyramid scheme analysis, it may be stretching it a bit far, but Investopedia says it well, “If the recruit gets 10 more people to invest, he or she will make a profit with just a small investment.” Sound a lot like getting a person to join Wealthy Affiliate, though I’d be fine if it was just a product and nothing else. Sure it may offer all of those resources like keyword research and hosting, but that’s just the bread of a hamburger, meaning the true “meat” of the program is the fact that it teaches you how to build an online “business” in which you are an affiliate for certain products. May even be a bit like MLM, but instead of the participants who recently joined receiving a smaller percentage of the money in which they got others to join (WA gives half, I’ll recognize that), they will still struggle in the end trying to build a website and generate traffics to have products bought through them in such a saturated market. Such reality cannot be downplayed in a review for Wealthy Affiliate.
On MunchEye you can take a peak at the JV pages for these products, and on those pages they often show what the upsell funnel looks like. Some of them are utterly ridiculous, like you pay £4.99 for the front end product but there are £500 worth of upsells. And this is how affiliates are able to make so much money from these launches, because people get tricked into all these upsells.
I also started an e-commerce retail site that I went with another company on and it ended up costing me thousands of dollars, held all the so-called training over the phone for 30 minutes that they rushed through, the only writing training instructions were very generic and general in terms. I am still with them since I had a year. I have 4 months to go and can’t wait to move my DNS over to WA! It is difficult to get questions answered and have to wait until whenever they got around to returning a call. They complete the basic website framework for you and it looks like someone still learning to be a designer did it! I paid monthly for hosting, which alone is as much as WA’s fee for everything, paid separate for social media marketing training, which was next to nothing. In general their training platform was the pits!
When Wealthy Affiliate first started in 2005, it was a list of hot keywords for those wishing to make money by promoting affiliate links on Google Adwords. That was actually a fast (but risky) way to make money. So, if you had money to invest up front, it was indeed possible to get rich quickly. And that’s why Kyle and Carson called their website Wealthy Affiliate. They were showing people how to get rich through affiliate marketing. The clue is the name.
They tell you that the first step in the process is to choose a niche. In my opinion, this should be pretty easy for you determine before you even decide to get started. If not, then internet marketing may not be for you. The reason I say this is due to the amount of effort required to build a profitable business from scratch. If you can’t think of one single thing that excites or interests you, then you are going to have an uphill struggle if you plan to make a go of it in affiliate marketing.