In my last post talking about Commission Junction & my problems with them, I left off by saying there is a question about affiliate marketing in general, and the title above is that question.
Let’s look at this thing from the big picture perspective. How many ways are there to make money online? A bunch of ways truthfully, as I shared in this post years ago talking about how Lynn Terry does it and then talking about how one can legitimately make money blogging, saying it wasn’t how you were thinking.
I’ve said that over the years the one thing that’s made me any real money has been Adsense, and not on this blog but most of it on one of my other websites. I’ve made very little money via affiliate marketing, no matter who it is, and I did a six part series in 2011 talking about all the affiliate programs I’m connected with and how much (little) money I made from them all over the years if you want to check that out.
Frankly, the effort isn’t really worth it anymore, but I’m wondering if it’s ever been worth it. True, there are some people who make a lot of money online via their blogs and affiliate programs, but let’s think about a couple of things here.
One, how many of those affiliate programs are the same types of things we have?
Two, how many of those folks are getting paid a much higher rate than most people will get, mainly because of their associations?
Three, for that matter, how many of these folks make a lot of money by promoting each other’s programs and products as opposed to going the route that the overwhelming majority of us go?
Before I go on, let me state this for the record. I never begrudge anyone for making money or for figuring out how to make money. Unless they do it in an unethical way, I figure people are entitled to whatever money they make or whatever money someone is willing to pay them, even if I may not like them (for who they are, not for making money). Can we learn lessons from these folks? Absolutely, as long as we look at the right thing.
In this instance I’m going to use one of my buddy Brian’s favorite people, a guy named Pat Flynn, who publishes his monthly income report each month. This guy’s raking it in; there’s no disputing that. He’s working it like a pro; great for him. But let’s look at only his affiliate programs for a moment.
He shows that he made more than $38,000 in November for his affiliate programs; that’s fantastic. He made around $23,000 of that via BlueHost, and he made it via his YouTube channel talking about how to create a blog using them. YouTube is the way a lot more people are making money these days, and he’s a charismatic guy, so talking about it in a video and getting lots of visitors to it would sell a lot of product.
He made more than $3,600 via a program called Long Tail Pro, something I’ve never heard of, but it’s an independent program that he helps promote. Another $2,700 via LeadPages, $2,100 for the Thesis theme, $2,000 for Market Samurai and $1,400 for Aweber, and then lesser amounts for a lot of other things; I’m only talking affiliate programs here.
What isn’t he doing? He’s not using things like Commission Junction, Clickbank, LinkShare, Bidvertiser, on and on and on. As a matter of fact, most of the things he’s marketing other than BlueHost aren’t the types of things most of us probably think about when we’re thinking affiliate marketing.
I thought about pulling someone else’s monthly income report, decided I didn’t want to embarrass anyone, and instead decided to share one of my old income report from September 2010, before I stopped doing them, as a point of comparison. This was the most money I ever made in one month, $562, and that was because I sold one of my websites. Without that it would have been $262, and though I made more money than that later on, it was always Adsense, not because of affiliate marketing. I’m betting that many of you would love to make $200 a month, and that’s not all bad, but can any of us live off it?
I ask the question “is affiliate marketing dead” not because no one makes money off it, but after so many years and so many more people who have tried it and not made a livable income off it, which outnumbers those who do make a living off it 99.8% to .2% (and I think that’s generous), if it worth the effort to continue trying to make money off a model that, for most of us, is not only inefficient and cumbersome but we can’t even trust that they’re giving us the real stats, let alone will pay us? I add this as I just received my one and only payment from Amazon a couple of weeks ago for… 50 cents! Had them for 4 years and I made 50 cents; that’s a darn shame! lol
What’s your thought on this? I know some will think (even if you don’t say it here) that you’re going to be the one who breaks the mold & makes all the money. Oh really? By blogging? By lots of squeeze pages of products that everyone else is already marketing? I’m doubting it but I could be wrong; y’all let me know.
Hey, someone had to ask right? 🙂