Can You Still Make Money On Affiliate Programs?
The last few years have been a stark wakeup call for many people running small businesses on the web. For the first time since the web really took off as a commercial medium, the perpetual momentum of buyers seemed to take a step back. Many are wondering if you can still make a bundle with affiliate marketing? Let's take a look.
I was talking with a buddy who was complaining because his sites have been flat the last two years. They've made about the same amount of money despite all the different things he's tried. I laughed because there are a lot of people who would kill for such a result. Everyone needs to understand that we are going through one of the worst economic environments we've every seen in this country. They don't call it the Great Recession for nothing! Things will get better as the economy slowly, but surely, gets rolling again. You just need to keep your head above water till then.
While things are starting to perk up with the economy, there is more bad news coming down the pike. On February 22, 2010, the new credit card regulations kicked in. These will at least temporarily result in people making fewer charges. There are two reasons why. First, there are going to be far fewer "bad credit" cards issued because fewer companies will offer them and the terms will be so brutal that consumers will be hesitant to take on what is offered. On a second note, the new credit card rules require companies to show borrowers how long it will take to pay off their balance in years on every statement. The numbers are pretty shocking, so we can expect consumers to pull back on purchases for at least the first half of 2010 a bit. I know I am!
Can you still make money on affiliate programs? Yes. Absolutely. The key is to refine your efforts through testing and to realize we are in one of the toughest economic periods seen in the last hundred years. As we come out of it, things will change and we will see Americans spending money like mad again, which means big revenues for you and me.