Even if you’re great at online marketing, there’s one cold hard truth about it:
You. Will. Fail.
I’m not a doomsayer. It’s just that businesses require a lot of effort, and most of us are lazy by definition.
Failing is Great
I have first-hand experience at failing, like many others. It sucks, but in retrospect, I’m glad I did.
Even though that might sound contradictory, it really doesn’t.
For every successful project I realized, I’ve missed the mark repeatedly on many others.
I like to think of failures as learning experiments for any future online marketing.
Why You Fail: Poor Analysis
It’s one thing to miss your goals, but the worst part comes from not taking the time to do a proper postmortem.
Ok, so your project is deader than dead. It’s time to put on your medical gloves and perform an autopsy.
What’s the cause of death? What went wrong? This is what I meant when I talked about learning. You need to dissect and take notes or history will repeat itself.
And no, websites/campaigns don’t die of old age. So you must find what killed them in the first place.
Why You Fail: The Money-Grab Lure
Online marketing has an image problem.
To some, it’s almost like Ali Baba’s cave: countless treasures there for the taking.
But just like in the folk tale, it’s easy to forget how to detach yourself from greedy thoughts – ultimately getting trapped.
I wouldn’t be surprised nor blame you if you think the Internet will make you rich.
To be honest, it’s possible. The problem comes from how we’ve been told it’s easy and effortless.
Don’t be fooled by your desire to turn a profit.
Why You Fail: Calling it Quits
Failing is not a good feeling. It can bring shame, especially if you don’t understand what went wrong.
Plus, your Average Joe living in his parents’ basement can make $10k per month, so why can’t you?!
Coupled with the image problem mentioned above, it’s not surprising so many people have a hard time with online marketing.
However, giving up is not the solution.
You must learn to rebound.
Focus on your strengths
Everyone has different talents: writing, drawing, composing, you name it.
What do YOU excel at?
I’m asking because in order to rebound, some introspection is in order.
Here’s some questions I asked myself at some point over my online marketing career:
- Are my websites more of a hobby or a business?
- How many hours am I willing to invest online?
- What am I good at, and what can I do better?
The goal here is to channel your energy into something you’ll be proud of.
It’s not the destination that is important: it’s the journey.
Deliver Something People Actually Want
I see a lot of new online marketers who, just like lemmings, follow leaders without too much thought.
The problem is, you’ll fall off a cliff at some point. Blindly doing what works right now is only viable for a while.
Online marketing is all about delivering what people want. Not what YOU think they want.
- Do some research on popular trends
- Browse forums and notice what people are asking about
Here’s some websites I like to consult for inspiration:
Always be proactive and on the lookout for new opportunities
One of the best ways to not only rebound after a failure, but also work on a long-term strategy is by diversifying your portfolio.
I see many affiliates who choose a niche and stay with it. Evergreen markets do exist and they’re fine.
However, you’re always at the mercy of your product or service. There’s just less risk involved.
As Matt Giovanisci told it, all it takes is ONE board meeting from a company to destroy your business.
He was talking about Amazon, but the same can be said about many other affiliate programs.
Variety is the spice of life. Go explore and try new stuff: it’s worth it.
Grieving over your failures is not going to do anything.
Think of affiliate marketing as a war.
You’ll lose many battles, but might end up victorious regardless.
It’s all about establishing a plan of attack and sticking to it.
Just like a passive income, wars aren’t won overnight.
Are you a soldier? Let me know of your failures and how you rebounded in the comments below!