I'm recovering 50%+ of lost earnings (Here are what I did)
In April, most of us who are on Amazon Associates got a rude shock of massive reduction cut in commission.
I've written about my strategies to cushion the blow and I'm seeing some results.
My Amazon earnings dropped from $500+ to $180+ per month. That's like a 64% reduction.
I realized that it's a mistake putting all eggs in the same basket.
And so, I started diversifying and looking for alternative ways to monetize my websites.
I did the following and here's the result.
- Adsense - $25 per month.
- Private affiliate programs - $50 (this month)
- Dropshipping - $125 ( this month)
That's like $200 in total.
I wanted to draw your attention to private affiliate programs.
I only make 3 sales this month, to get $50. The commission rate is between 6%-10%. With Amazons 1% - 4%, I'll need 3 times or more of the products with similar value.
But what's really great about going with other affiliate programs is the longer cookies duration. Most vendors offer 30 days compared to Amazon's 24 hours.
As for dropshipping, it wasn't something covered in WA. But if you're dilligent, you can find information on how to build a WooCommerce store and tap on existing traffic to your website.
I made more than 100% profit per item, and it only took 5 sales to make a gross profit of $125. Of course, you'll have more responsibility in customer service and fulfilment but there are tools that can help.
Greatest lesson in the past 4 months. Never put all your eggs in the same basket, whether it's vendors, traffic or monetization strategies.
Hope this is helpful and feel free to ask questions.