Client attraction. Business growth. Pretty profits.
Perhaps you’re having a slow revenue month or maybe you haven’t launched a product or a service yet.
You need to boost income but aren’t sure how to go about it.
Add this super simple income stream to your business this new financial year and make extra money for…
> A holiday
> Upgrading your sofa
> Regular massages
Watch the video to find out what it is and the 3 steps to add it to your business…or skip below for the written summary.
What is affiliate marketing?
Affiliate marketing occurs when someone promotes another person’s products or services and receives a commission for any sale that occurs as a direct result of that promotion.
For example, Denise Duffield-Thomas created the Lucky Bitch Bootcamp which helps women release their fears around money.
I bought the program, loved it and decided to register as an affiliate because I know many of my clients could also benefit from the bootcamp.
Having signed up as an affiliate, I received a unique link to promote the program which also allows Denise to track whether anyone buys the bootcamp using my link.
When a sale using my affiliate link occurs I receive a commission.
You can also become an affiliate for products or services as a method of increasing your income.
Isn’t affiliate marketing icky, sleazy, spammy?
Aha. Great question.
The answer is like anything:
It depends how you go about it.
Think of mortgage brokers who operate on a commission basis.
Imagine a mortgage broker has recommended you choose a particular loan and is now pressuring you to sign up.
Feels pushy and sleazy right.
Now what if that same mortgage broker had openly acknowledged the various loans they offer and the respective commissions they may receive. They then addressed why they recommended a specific loan – on the basis that it best meets your individual needs.
You’d feel more comfortable, right?
Given that in the second scenario the mortgage broker was honest and transparent from the beginning you’d be more likely to trust them.
They’ve demonstrated that they’ve taken your needs into account rather than simply pushing the option that would provide the biggest payday for themselves.
The icky feeling would be gone.
How many offers should you be affiliate for?
First and foremost, never promote anything that you haven’t used or experienced for yourself. You cannot vouch for the item you are promoting. You don’t know if it lives up to the marketing messages being used to promote it.
To promote in this manner would be wrong for two reasons:
- You are unfairly risking your client’s financial and emotional investment
- You are risking your reputation, which once damaged, is unlikely to recover
But here’s where I will go out on a limb:
A lot of people, and I will suggest particularly women, say you shouldn’t become an affiliate for every program, service, tool you use. That it’s unnecessary, over the top, perhaps even greedy.
It’s perfectly reasonable and acceptable to be an affiliate for a variety of offers on the proviso:
- You have invested in and experienced them yourself
- You are confident the recommendation you’re making is the best option for your client
Quick example regarding best options: Say you are an affiliate for both Infusionsoft and Aweber. Your client is aiming to build their email list and currently have 300 subscribers. Recommending they invest in Infusionsoft wouldn’t be the best option for the client as they don’t yet need the functionality nor expense. Although you’d receive a smaller commission from Aweber, recommending that would be fair and ethical.
Now back to how many affiliate programs…
You are being of service to your client.
You have completed the research and can advise whether the offer is the right fit for their needs.
You are providing a solution to their problem. It doesn’t matter that you didn’t create the solution yourself.
You deserve to be rewarded for the value you are providing.
As Denise would say ‘I serve, I deserve.’
In fact, Denise generously shared her thoughts on affiliate marketing:
“I personally affiliate for a few companies a year, and if it’s something I think the community needs, I’m not afraid to recommend several different things.
One of the best things about being an affiliate for me, is that it keeps me focused on my own offerings. Instead of going off on tangents (because my audience has asked for it), I can find someone who is the best at teaching that particular thing.
Some people are also naturally good at being the “go to” resource where they know how to pick the best, and curate offerings for people. As long as you’re mindful about being useful with your recommendations, then go for it.”
Want to become more comfortable promoting affiliate offers? Why not listen to Denise’s free audio training on how to clear the seven most common money blocks?
How to choose affiliate programs
It’s all well and good to sign up to a variety of affiliate programs but how do you know if they are the right options to promote?
1. Start by brainstorming the specific problems your ideal clients have.
Delete those problems that are solved by the products and services you offer.
For example, many of my clients know the value of testimonials but aren’t sure how to ask for them. The ‘Hassle Free Guide To Testimonials That Sell’ solves this problem so there is no point becoming an affiliate for another offer that does the same.
2. Now you’ve identified the gaps consider the solutions you’ve invested in previously, or are willing to invest in and experience, that could solve one of the problems your ideal clients have.
For example, many of my VIP coaching clients don’t have a website when we first start working together. As such, I recommend they use Siteground for domain name and hosting as well as ThemeForest for WordPress because I’ve had great experiences with both companies over a number of years.
When working on my business plan for this year, I considered creating a program teaching businesswomen how to boost their income through affiliate marketing. At the same time I knew Nicole Liloia specialised in this area and had her Authentic Affiliate Academy.
Rather than create another offering, I invested and participated in Nicole’s Academy. Having completed the program I now feel 100% confident in recommending it.
3. Repeat step two until you have affiliate solutions for all needs.
Just be conscious not to overwhelm or overload your clients with affiliate offers.
If you promote many offers too frequently, your clients will tune out, possibly missing the solution to their most pressing challenge.
Want three strategies to ensure your affiliate marketing success?
The very lady who has helped me consistently increase my affiliate income (aka Nicole Liloia) and I are teaming up to share…
…this Thursday 10am Melbourne time
Register now or click the image to reap the benefits.
And in the interest of maintaining full transparency this blog post does contain affiliate links. 🙂