Patience Grasshopper - Jumping the Gun can Cost you Money

[Linda Buquet]

I see lots of affiliates losing money by jumping the gun. Either jumping into a niche to fast - without enough research, dropping a PPC campaign as soon as it loses money - before they even have enough data to make that decision or dropping a site/market/offer/program if they don't see instance success. Mattaw at MoneyBites has some thoughts...

<strong><a href="http://moneybites.com/a-lack-of-data-and-rash-decisions-equals-lost-money">A Lack Of Data And Rash Decisions Equals Lost Money</a> - MoneyBites</strong>
"A lot of money is lost on rash decisions. What I mean by this is decisions without enough data to base them off of. In some cases this can loose you a lot of money and in others it can just result in the loss of potential revenue...

Remember, there are flukes. If something is performing well (or not doing so hot), it can always turn around. You should always get enough data (depending on what kind of data you’re collecting there are different benchmarks), before making a decision. If you see an ad block doing really well or maybe an affiliate campaign doing poorly, stick with it. Don’t decide that either it’s working or not until you have enough data to spot trends."

What do you think? Are you a chronic "jump the gunner?"

 

[jazzguy]

Thanks for pointing out this article to us Linda. This is one of the few times I'm glad I'm lazy because I end up taking my time when involved in setting up a new site or working on exploring a potential new niche. In fact, after reading the article I think I'm gonna take a nap... Later...