The keys to successful and profitable stores
While every store is unique, some common principles make a successful affiliate store.
Before we start building our store, let's look at the most important things that will make your store successful.
Small, focused, and organised
In our success training (Find a Profitable Niche), we look at how to think small and focus when choosing your niche.
For example, starting a generalised "Fitness" store is too big. Instead, choose a specific niche like "Folding Treadmills" or "Yoga Clothing".
A focused niche helps you create great content, choose products effectively, and stop you from getting overwhelmed when building your store.
Watch this video on Populating Your Store Slowly for Success for a more detailed look at this strategy and why it is so important.
Letting go of old ideas
You may have existing domain names and niche ideas that you want to use for affiliate stores. This can sometimes work, but be careful about holding onto old ideas that will not be successful.
When we have invested time, money, and energy into something, we are reluctant to let it go. This is known as the "Sunk Cost Fallacy".
Be honest with yourself and let go of those old ideas... even if it is a bit difficult!
Always keep the customer first when creating your store. This means you should be thinking about different ways you can help your customer, e.g.:
- Research and understand the products
- Choose the best products for them
- Get the best prices
- Learn how to maintain/fix/upgrade products
Putting the customer first will naturally increase traffic, sales and conversions.
Build and grow with integrity
As your store grows, you will build an audience and regular visitors. They will trust you and your store to give them the right advice and recommendations.
If you betray that trust, for example, by recommending poor-quality products, your growth will stagnate.
A Growing Asset
Your stores are an asset that grows with time. Monitor your store, make changes and improvements, try new things, and don't let it stagnate.
You don't need to spend all your time on your stores but do regularly check up on them and keep looking for ways to improve.
This is the key to taking your store to the next level and turning it into a valuable asset that will keep paying you and/or can be sold for a lump sum.
Fast, up-to-date, and accessible stores
Any store or website on the modern web needs to be fast, accessible on most devices, and have up-to-date content.
FreshStore covers all this for you! Your stores are always lightning fast, your products update automatically, and the templates show beautifully on big or small devices.