Create Passive Income With Affiliate Marketing
What You Need To Know
Let’s talk about Affiliate Marketing.
If you remember a few weeks ago I did a blog post that was an overview of the different ways you can scale your business. Here is the link to the blog post in case you didn’t get a chance to read it.
Anyway… one of the methods I mentioned was Affiliate Marketing, so today we’re going to go deeper on what it is and how to use it to create passive income.
First… Affiliate Marketing is simple.
It’s when you refer people to someone else’s products or service and you get paid when they purchase.
You’re sort of like a commissioned sales person.
When someone buys something that you referred, you get paid!
They use what are called “affiliate links” to track the sales that you refer so they know how to pay for a referral.
Now… what you get paid as an affiliate varies greatly. It depends on what it is and the rate the business owner is willing to pay.
We’ll get in to more of that in just a bit.
Let’s talk benefits!
The biggest benefit of being an affiliate is it’s a great way to bring in some extra income.
It’s actually another revenue stream for your business – one that you don’t have to create anything for!
A word of caution though…. I highly recommend only referring products or services you’ve used yourself.
It’s all about reputation.
For instance, what if someone purchases something on your recommendation using your affiliate link and it’s not good?
Do you really want to put your reputation on the line for a product or service you’ve never used just to get paid?
I know I don’t.
I only recommend products + services I’ve actually used and know the quality of before referring it to my tribe.
Do what works for you – but keep in mind it’s your reputation.
Also, there are people who teach Affiliate Marketing as a way to earn money as a VA.
As I said it’s a great way to earn EXTRA money but it should not be your main source of income.
That’s what your VA business is for.
If you are what is called an Affiliate Marketier, you’re relying on somebody else for your income.
You’re not in direct control – you rely on what they sell to make a living.
So… how can you get into affiliate marketing?
Well, first off, you can start by signing up for any of the tools that you use.
For example, I’m a Teamwork affiliate. It’s a task management tools I’ve used for the past 11 years and can highly recommend. It’s a great tool!
Take a look at the tools you use in your business and then check their website to see if they offer an affiliate or referral partner program (same thing – different name). Many times they’ll have a hyperlink at the bottom of their website for joining their affiliate program.
When you sign up they’ll provide the exact details on how their program works.
- Amount paid
- When it’s paid
- How it’s paid
- Training on how to be an affiliate
Each program is different but be sure you can find the above information plus how to find your unique affiliate link.
Pay attention when you sign up to find out how to get your affiliate link and the tracking system they’re using to keep track of your referrals and commissions.
I’m an affiliate for SiteGround and get an email when someone signs up so I know I’ve got a commission coming.
Second, take a look at any products or services you’ve used and found valuable.
Many business owners offer an affiliate program for their training and coaching.
Some will have a menu option on their website for you to sign up.
If you don’t see one, you could always reach out and ask them if they have one.
Keep in mind, you’ll have to sign an affiliate agreement and if you’re US based you may even need to provide a W9 form for tax purposes.
Let’s talk affiliate commisions.
As I mentioned above there is NO one size fits all commission or affiliate fee structure.
It’s all up to the business owner.
When you sign up to become an affiliate you’ll see what the percentage or flat fee is you’ll get paid.
Now that you know what affiliate marketing is and how to get started, let’s talk about what to do AFTER you sign up as an affiliate.
How to start earning those commissions!
The most important thing is to have a plan for how you’re going to market your affiliate programs.
It’s important to have a plan if you want consistent income and a solid revenue stream.
So how can you let your clients + audience know about the products + services you recommend?
The easiest way is to add a “Resources” page to your website and include your affiliate links to each. Be sure to include a simple disclaimer that lets people know that you are a paid affiliate and are using affiliate links.
Then visitors to your website can find what they need, click on the affiliate link, purchase and you get paid!
Creating your own affiliate program.
If you’re somebody who sells digital products, you could create your own affiliate program.
It’s a great way to thank loyal customers + clients for referring others to you.
There are many programs that have a built in affiliate program like ClickFunnels or Kartra for instance.
If you’re not using one of those programs you can find stand alone products for creating and tracking affiliates like LeadDyno.
They do all the heavy lifing for you!
And.. that my friends is it!
It’s not difficult to find products or services that you have used and would happily recommend to others.
The first thing you need to do is see if they have an affiliate program and sign up and then start using your links.
Oh… and one quick thing.
Before you go wild and start sharing your affiliate links all over social media – especially in groups – read the group guidelines to see if it’s allowed.
I know in my own groups – it’s not permitted.
By becoming an affiliate for multiple products or services and sharing them with your audience you can create some extra income fairly easily.
So… what action can you take right now to start creating passive income by being an affiliate?
I’d love to know! Please comment below and share.
All comments + questions are welcome.
If you know someone who might benefit from this information, please share. You can use the share buttons below the post.
Exciting news for me!
I’m re-launching my own affiliate program – woot!
I took it down last year as I was reorganizing my products but I’m excited to share that it’s coming back!
It’s my way of saying thank you for recommending my stuff.
So, if you’re interested in joining my affiliate program go to https://www.techiementortraining.com/affiliate-sign-up to sign up and find out more.
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If you’re looking for more details on how to start or scale your VA business including how to specialize by learning in-demand skills, join my FREE VA Training Vault. You’ll get instant access to how-to video training for Virtual Assistants that want to create a successful business.
Thanks for reading – Susan
Don’t forget to leave a comment if you found this information useful – I’d love to hear from you!
I’m Susan Mershon and I started The Techie Mentor ™ in 2013 to teach Virtual Assistants my no fluff approach to the systems and skills they need to build + run a successful business. My focus is on teaching you the high end skills clients want and the systems to take those skills and offer them as a service professional.