Service business owners often find they can generate passive income by creating a product, such as an ebook or audio program. Once you have a product to promote, your may be wondering how to leverage your sales by getting others to promote for you. These days, you usually need to offer a commission to motivate others to tell their readers and followers about your offer.
At the same time, you may realize you don't even need a product. You can generate considerable revenue by promoting programs from others. In fact, taking this step will help you develop your own affiliate program.
Becoming an affiliate
Promoting someone else's programs as an affiliate can be lucrative - and not just because you earn commissions. When you sell someone else's product, you build alliances and loyalties. We almost always remember the name we wrote on the check or typed into the PayPal "send payment" form.
My own experience confirms these benefits. When I needed guests for a teleseminar program, business owners remembered me as an affiliate who had sold their products.
Promoting affiliate programs requires copywriting skills as well as what marketers call a "responsive" list. You need to be attuned to your list's preferences and sensibilities. Some lists buy only business products; others prefer spiritual and mindset programs. A few lists buy both.
Most of the time you sell most effectively when you've purchased from the marketer yourself. Your own endorsement will always be more effective than the marketer's copywriting material.
I recommend promoting others before starting your own program. You'll realize what you are asking your own affiliates to do.
Creating Your Own Affiliate Program
Now let's look at the other side. What if you've just written a really good Report or created a dynamite audio program? You soon learn that you'll have trouble getting promoted unless you create an effective affiliate program.
Marketers with lists get requests to promote more products and services than they can possibly accommodate. Many choose based on your relationship with them, your reputation for delivering quality products and service, and (let's face it) your commission size.
Your affiliates represent a new target market. You have to plan for "care and feeding" of affiliates. These days, they expect emails with suggested copy for messages to send out. You may also include tweets and posts, if appropriate for your promotion.
Ignore your affiliates and they will still love you...but they won't be mentioning your products on sites, emails or blog posts. If they've sold for you in the past, they expect to be invited to participate in your newest offerings.
You also learn quickly that the 80/20 rule works more like 90/10 or even 95/5 with affiliate marketing. A tiny percentage of affiliates will deliver sales. That's why you are so memorable when you promote someone else's products.
At the same time, you may realize you don't even need a product. You can generate considerable revenue by promoting programs from others. In fact, taking this step will help you develop your own affiliate program.
Becoming an affiliate
Promoting someone else's programs as an affiliate can be lucrative - and not just because you earn commissions. When you sell someone else's product, you build alliances and loyalties. We almost always remember the name we wrote on the check or typed into the PayPal "send payment" form.
My own experience confirms these benefits. When I needed guests for a teleseminar program, business owners remembered me as an affiliate who had sold their products.
Promoting affiliate programs requires copywriting skills as well as what marketers call a "responsive" list. You need to be attuned to your list's preferences and sensibilities. Some lists buy only business products; others prefer spiritual and mindset programs. A few lists buy both.
Most of the time you sell most effectively when you've purchased from the marketer yourself. Your own endorsement will always be more effective than the marketer's copywriting material.
I recommend promoting others before starting your own program. You'll realize what you are asking your own affiliates to do.
Creating Your Own Affiliate Program
Now let's look at the other side. What if you've just written a really good Report or created a dynamite audio program? You soon learn that you'll have trouble getting promoted unless you create an effective affiliate program.
Marketers with lists get requests to promote more products and services than they can possibly accommodate. Many choose based on your relationship with them, your reputation for delivering quality products and service, and (let's face it) your commission size.
Your affiliates represent a new target market. You have to plan for "care and feeding" of affiliates. These days, they expect emails with suggested copy for messages to send out. You may also include tweets and posts, if appropriate for your promotion.
Ignore your affiliates and they will still love you...but they won't be mentioning your products on sites, emails or blog posts. If they've sold for you in the past, they expect to be invited to participate in your newest offerings.
You also learn quickly that the 80/20 rule works more like 90/10 or even 95/5 with affiliate marketing. A tiny percentage of affiliates will deliver sales. That's why you are so memorable when you promote someone else's products.
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