It’s the economy, Stupid
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I mentioned Lee’s post earlier about weathering the storm should the economy take a downturn and I’m going to expand on my thoughts a bit here.
It’s sometimes easy to forget when we’re sitting at our computers setting up PPC campaigns, SEOing websites and blogging about it all that we’re part of a greater eco-system. Unless you live in a shack growing your own veg and knitting your own clothes you’re reliant on other people and indirectly you’re reliant on their success and their confidence in their own future success. If other people doubt their economic future they won’t spend money and we won’t get commissions on the sales.
Lee recommends reviewing the industries you target and mentions foreign travel as one which people are likely to cut back on. This is not good news for me as much of my affiliate income so far has come from foreign travel. I certainly think people are going to be cutting back on luxuries for the foreseeable future but at the moment I don’t think we need completely to run away from non-essential markets. After all, a foreign holiday can often be cheaper than one in the UK. Just think Easyjet rather than world cruises.
And that’s probably the crux of my advice (as much to myself as anyone). Don’t be swayed by what’s cool or what pays the best commission. Look for the good value deal. Think what you yourself would want to spend your hard earned cash on if you were uncertain about the future. Think as well about where people might want to save money. An example off the top of my head, people might decide to ditch their Sky TV subscription and switch to a Freeview box. They might cancel their mobile contract and switch to pay as you go. Just because people are spending more carefully doesn’t mean they’re not in the market for a new product.
Now is definitely a good time to take stock. Christmas is coming and that’s always the biggest spending time of the year but make sure you can survive in what may be a difficult new year.
September 22nd, 2007 at 1:25 pm
Cheers Monty for the reference!
Why didn’t I say:
“Don’t be swayed by what’s cool or what pays the best commission. Look for the good value deal”
It’s totally true. I think its now a case of cutting through the crap and being cold-hearted and unemotional about any affiliate relationships we’ve made in the past and keeping an eye on the bottom line.
Again, thanks for commenting on the topic - it’s certainly one that should be openly discussed.
Lee/