5 Bucks a Day

If I said this before, it bears repeating, because new readers are coming here all the time, and old readers forget things.

I was responding to a forum posting today, and a person brought up the fact he had made his first AdWords sale, and he was surprised because it was a competitive market.

I don’t let competitive markets scare me away. In fact I love them. If there’s no competition, there’s probably no profits available.

People get discouraged because they put up an ad and lose money. That’s not exactly a good thing, but that’s also not a bad thing. Here’s why:

In PPC, you’ll fail more often than you succeed, if you’re an affiliate. If you’re advertising your own products, that’s another matter for a different discussion, because much different tactics are in play there. But let’s say you’re an affiliate marketer like I am. So, you put up a campaign with a handful of adgroups, and you either don’t get a lot of impressions or clicks, or you do and they don’t convert to sales. Loser, right? Right.

So what do you do then? Do you chase it? Do you raise your bid prices to get a higher position? Do you quit trying to make money with PPC? Or what?

Well, you might chase it if you haven’t gotten enough clicks yet to reach a decision as to whether it will be profitable or not. But at some point, if you’ve thrown enough money at the campaign and it didn’t produce profits, you scrap it. Pause it. Delete it. Whatever.

And you try another campaign. You don’t quit, for crying out loud, what’s just happened to you is happening to every successful AdWords marketer on the planet. They identified a loser.

In some markets, like Clickbank downloadable eBooks, probably 1 out of 10 campaigns will be a success. Yes, 9 out of 10 will be losers. If you’re a baseball player, or an NFL quarterback, you’re history, go home, my friend. If you’re an affiliate marketer, 1 out of 10 makes you rich. Here’s why:

9 failures X 2 days worth of losses = 18 days worth of losses
1 success X forever worth of profits = $$$$$

Bottom line: you’re on a roll, my friend. Do another 10, and whiff on 9 of them. I love it when that happens.

It takes failures (sometimes a lot of failures) to find just a few successes. It’s worth it. Failure is your friend. I wouldn’t say seek it, but at least embrace it for what it is, a way to find your next success.

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