Many affiliates get drawn towards choosing finance as their niche due to the large rewards that are on offer. Large commissions and monthly payouts can easily move into 6-figures making finance affiliate programs the most competitive and lucrative on the market.
Any affiliate program that provides large payouts will in turn provide stiff competition. Do a search on Google for loans and you will get 183,000,000 web sites related to this topic. Mortgages provides 110,000,000 results and credit cards around 90,000,000.
With all this competition you may ask yourself how you can have a chance to get your slice of this very lucrative pie? How much commitment in time and investment is it going to take to see positive results? The facts are that it is going to take some serious work to get your foot inside the door and plenty of time and patience sitting at your desktop before you see the tide turning and light at the end of the tunnel of success.
The first few months should be set aside for doing research into the financial niche you intend to promote as an affiliate. Will it be loans, mortgages, investment, forex trading, credit cards, bad credit or one of the many other niche areas connected to the financial industry.
This is very important and if you have a serious interest or knowledge in an area then it would make complete sense to target this niche as opposed to promoting an area such as Mutual Funds in which you have absolutely no knowledge of and have little interest in. If you have a genuine interest in currency trading then Forex affiliate programs would be an advantageous way to get your affiliate marketing off to a good start. The reasons for this will be explained later.
One thing is for sure, you need to structure and plan your affiliate business from the very beginning. Doing some serious research into the market you intend to promote will save you a lot of time and bad decision making down the road. The time you invest in this initial market research will be the foundations of your success. Failure to do this will mean you will make more mistakes, change tactics and will just confuse your business because of it's lack of solid directional planning.
Around 90% of finance affiliates fail because of bad planning and mismanagement. So many think that the business will be a breeze and are simply blinded by the huge commissions on offer. They will do some simple promotions here and there, build a basic web site, a little marketing and get disheartened when they do not see any positive results mirrored in their affiliate stats.
Many affiliates at this point simply drop-out and look for easier pickings in the affiliate marketing arena. Their place is taken by new affiliates also looking to strike affiliate marketing gold with finance programs and so the whole cycle continues once more.
Like any affiliate program out there you will find that it is only a small minority that actually makes the majority of the commission on offer. You can call these Super Affiliates if you wish or Online Marketing Gurus but one thing is for sure, they will not reveal their successful marketing techniques to any new affiliate that comes along. They will hide their marketing secrets and protect their income very aggressively.
Finance affiliate programs are not for the faint hearted. It takes a very special type of individual to succeed. You must have a genuine interest in the niche you intend to promote, be prepared for hard work, have the time commitment needed, don't get disheartened with little set-backs, be prepared to promote aggressively and most of all have a yearning for success.
If all this sounds like I have just described your persona then welcome aboard the finance affiliate roller-coaster ride. The ride may be bumpy at times but stick with it. You may find that it could be the most lucrative ride you ever dared to take! See you in Part 2.
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