If you are not currently involved in affiliate marketing yourself, I am sure that you have at least heard of it.
I will share my definition of affiliate marketing and share the right and the wrong way to approach it. Affiliate marketing is sharing the products of another in return for a percentage of the sale. This can come in a one-time payment or as a percentage of a reoccurring monthly payment. That second option that I just mentioned won’t make anyone rich overnight, but I do know some people making insane amounts monthly, because of the sheer volume of affiliate referrals that they have made. I am talking more than 50k/month!
This isn’t a new concept and it is very common online. I am willing to bet most companies that operate in the digital space have an affiliate program. From the company’s standpoint, this is a great idea because they only pay when a sale is made. This is just like paying an army of contractors a commission only when they perform. A motivated affiliate does your marketing for you, so this reduces the need for marketing as well.
I like pushing the products of the companies that power my business for a few reasons. For one, I am already passionate about the products and I use them every day. A monthly commission is a nice bonus for sharing these success stories and is the type of affiliate program I prefer.
I would strongly encourage everyone to look into this passive income source for themselves. Amazon has an associates program that is super simple to use, and thousands of people use it every day. Check out some of your favorite brands online for their programs, they may be labeled as “partners” or “affiliate programs.” They usually require a W9 for taxes and can be setup in a day or two.
Now, I want to share some of the ways not to push your affiliate links. Simply spreading them on social media or pushing them onto people usually results in a very poor outcome. In fact, there are few things that will piss people off quicker! This is an amateur move and it’s a waste of your time and of your reputation.
A better approach is to share the benefits in a personal and sincere way with your audience or your tribe. This may require more patience upfront, but I think you will find that you results are better overall. If you decide to do your own research on this, I think you will find plenty of others who also share this opinion. I think an affiliate strategy should be a portion of everyone’s larger passive income plan. My advice is to select a few companies that you use and enjoy, then really focus on those.
I know this is a high level overview, but I hope you have found some value in the content here.
If you have been seeking a new or additional passive income source, perhaps affiliate marketing is something worth looking into. I will be posting much more in depth blogs about affiliate marketing in the future. If you have any questions at all, leave them in the comments.