Why 90% Fail and 10% Succeed - Just A Theory
One of the questions I see posted by newbies is how long does it take to earn money in affiliate marketing. New members are asked to write their income goals, but not the timeline they would like to achieve those goals. It would be revealing to see this information. Most would probably have unrealistic expectations.
This leads me to my next question. Since new members have not given themselves a timeline, I wonder what percentage will quit. There are several levels of quitting:
- When not earning anything after a certain amount of time has passed, they cancel their subscription.
- A member continues paying but pretty much slows down their efforts to a crawl.
- Those who give of their all for two to three years and then decide to throw in the towel.
The Asymptotic Line
I call the last category quitting before the asymptotic finish line. Let me define what I mean by this term.
The following diagram is an example. The Horizontal Axis is time. The Vertical Axis is Money. There is little or no earnings at the beginning when there are very few articles posted on their website. As more articles are posted, earnings may start, but grow at a very ow rate. There may be a small spike or two in earnings but nothing to celebrate about.
The timeline where take off starts will vary depending on the amount of effort an affiliate marketer expends. For some this could be a year. For others, it may be two or even three.
Several members here have shared their commission growth curve from Google Analytics. They look very similar to this graph. Of course the straight horizontal line may have more little rises and falls. But growth is slow.
Instead of accelerating their efforts, many members get disheartened and slow down and eventually quit. We all feel like quitting sometimes. But those who will eventually succeed will keep going and become part of the winning 10%!
The Winners Success Plan
This is a good point to state a disclaimer. I say this is a 90-10 Rule. That's how it appears to me. It could be 80-20. Or 75-25. In the grand scheme of things is doesn't matter. The point is that more people do not meet their goals compared to those who do. There is a way for this ratio to get better in Affiliate Marketing.
Winners continue to acquire more knowledge and skills.
Winners will write more articles.
Winners will use their newly acquired skills to increase traffic using a variety of means including social media, resulting in sales.
At this stage of their development members with a success mentality will not use ads yet. Instead, they will rely on gaining traffic purely by organic means. Only after they start to earn consistent income they will invest some earnings to place PPC or other ads to scale up their income.
That is another reason the earnings curve grows almost exponentially. Earnings later in the cycle get invested to boost traffic and thus generate ever-increasing sales.
The 90-10 Rule
Now can you see why I think that 90% of those who start will quit? But here's the amazing thing. If they only looked at the growth curve of successful members don't you think they would reconsider?
Some would. Then there are others who will talk themselves into undermining their ability to press on and do whatever it takes to succeed. There is another factor involved, Having the money to invest for the long haul.
The Best Deal In Town
Wealthy Affiliate has done everything possible to make the cost of entry into this world of passive income as low as possible.
It's the best deal in town!
They also have created opportunities to earn cash credits while helping other members. Although you cannot get rich that way, you can use these credits to help pay for all or part of the subscription fee.
And now with Black Friday coming along, why not take advantage of that and not have to worry about making a payment for a year or more depending on your situation. Since you will know that renewal will be in one year, why not make a goal to earn at least the renewal fee during the first year?
If we all put our minds to it that is very doable.
This is a good point to state a disclaimer. I say this is a 90-10 Rule. That's how it appears to me. It could be 80-20. Or 75-25. In the grand scheme of things is doesn't matter. The point is that more people do not meet their goals compared to those who do. This doesn't only apply to affiliate marketing but in many of life's pursuits.
We all really need to ask ourselves. Do we want to be in that 90% group who QUIT?
Or do we want to be in that 10% group who do not give up and SUCCEED?
The decision should be a no brainer.