Compelling Reasons to Create Your Own Product Even If You
Promote Affiliate Programs
Like many people, I first started online by promoting affiliate
programs. I didn't have a product of my own, and affiliate
programs seemed like the ideal way to earn an income. Why bother
with the hassles of creating my own product if I didn't have to?
For many months, life on the 'net was wonderful. Then one day
the bottom dropped out of my income. One of the affiliate
programs I was promoting heavily closed up shop -- leaving me
with nothing to show for my months of hard work. Within the next
few months, another program dropped it's commission rates by
65%, and two more cut their commissions in half.
It took me a few months to recover financially... but in that
time, I realized that this dependence on another company was
exactly what I *didn't* need. Like the other affiliates, I had
worked hard to bring customers to the company -- only to end up
in nearly the same position I was in when I first got started.
Don't get me wrong; I was grateful for the opportunity to learn
how to market online, without having to worry about billing,
inventory, shipping, customer service, and everything else a
company handles on behalf of its affiliates. And although it was
hard work, the income was great.
However, it just goes to show that affiliates are at the mercy
of the company. Now, with more experience under my belt, my
opinion is that creating a product of your own is a far better
way to do business. I still use affiliate programs, of course --
just not as my primary source of income.
So why create a product of your own? Aside from the dependency
issue we just discussed, there are lots of great reasons. First
of all, it's YOURS. You pour your knowledge and your heart into
creating a product that you can be proud of. Call it a sense of
achievement.
Secondly, you know the product intimately. You know what it does
and what it doesn't do; you can talk confidently about the
benefits of owning it; you can listen to your customer's
feedback and use it to improve the product. And chances are,
you'll be much more inclined to market it consistently --
especially since you keep all of the profits, rather than just a
commission!
Most importantly, though, you build a customer base of your own.
You can build a long-term relationship with your customers
through newsletters, special offers, new product
announcements... and your customers can offer constructive
feedback, testimonials, and even referral business.
Affiliate programs are a wonderful way to develop multiple
streams of income. However, having your own product gives you
the option to concentrate on your own success, and on your
terms. Now that's a goal!