Hi guys and Welcome to Step 211 in The Prosperity Project Journey of 1,000 Steps where this month we explore the topic of affiliate marketing which I think everyone is going to L O V E!!
Affiliate marketing is such a fun topic to teach and use in your business/side hustle for the following reasons.
- Affiliate marketing has very little risk attached to it,and a huge amount of reward for both yourself as the seller and also the business owner you are representing.
- Affiliate marketing has thousands of wonderful products that you can choose from to use as a way to make passive income in your business or side hustle (if you don’t know what passive income is- click here)
- And affiliate marketing can be used in multiple distribution channels….basically anywhere you want to put your social media, blog post or youtube content- you can also drop an affiliate link.
So let’s begin by discussing what affiliate marketing is because it can be a bit tricky to wrap your head around if you have never heard of it before, once you do understand what affiliate marketing is, you are going to think it’s too good to be true!!
I can assure you that affiliate marketing is 100% legit and is as good as it sounds. The key though, is the same as everything else we teach in marketing- it’s all about getting the right product for the right customer, and remembering to be mindful that this is only one form of monetisation, because if you get kicked off your affiliate markting platform, you could lose a source of income, so you really want to be smart about using it.
For now though?
Lets break it down a little more and answer the question….
What is Affiliate Marketing?
Affiliate marketing is when you sell a service or product that belongs to someone else and then you receive a commission.
Depending on the program you sign up for, you can be paid either as a
- Pay Per click
- Pay Per Sale OR
- Pay Per Call
- (which means basically every time someone clicks on whichever you have agreed to then you will get paid a commission)
When I was growing up as a child, if you sold someone else’s product or service then you would call this type of job “a salesperson”.
Today with the internet, you still have the same “salesperson” opportunities available to you~ however now you have the added bonus of being able to do it on your own terms as you see fit!!
Affiliate marketing is possibly the easiest way to make money online, because you don’t have to create a product to sell, because it’s not your product– the product belongs to someone else….basically all you are is the “middle man” the person recommending the product and then getting paid a percentage of each sale.
That means you don’t need to make anything…you don’t need to ship anything….heck!
You don’t even need to pay for anything!!!
You can get started today with nothing other than a social media following and/or a website with some content that recommends what you are selling!!
Yep. It’s 100% true!!
You simply create a website or use your social media presence to sell somebody else’s product or service….then drive traffic/customers to it…. and make a percentage of money from every sale you make.
I’ll give you an example of how I would use it for myself, and then I’ll give you a few ideas how my kids could use it too.
So my example may be…
Let’s say you read a book this week that you loved (maybe it’s my book here- the affiliate marketing book! Or anything else you want to recommend) and then you tell someone about it, and recommend for them to read it.
You’re 100% transparent about it and you tell your friend if they purchase the book you recommend via your affiliate link- you get a kickback…say 10% of the purchase price or so.
If your friend buys the book with the link you gave them, then not only are you helping get a sale– but you get 10% of the money from that sale too! Simply for recommending my book to someone else.
Now although the commission you receive may only be $2 or $4 etc, if you have a social media following of say 1,000 people on facebook, instagram or snapchat who buy the book, you just made $2000 – $4000 for recommending just a single product! How easy was that!!!
Now let’s do it with some examples for my kids.
Let’s say you are a singer, an artist or you mix music for other people as a side hustle in addition to your regular job.
One of the most simple ways to use affiliate marketing is to let your audience (who are also your customers or your fans) know about the gear you use on a daily basis to make or edit your music or your art.
- This could be your microphone.
- Or guitar.
- Or synthesizer.
- Or editing software.
- Or waecom
- Or ipad etc
What you are looking for is something YOU yourself use every day that you absolutely love and are happy to tell everyone about.
Each time you create your social media post at the end of the post- you can put the links in for your affiliate products.
If you’re on youtube, you can see how you would do it here with this video showing how to use an Amazon affiliate link.
In Australia, we don’t really use Amazon (and I don’t recommend it personally because of the effect it has on local economies and taking business away from Aussie business owners) however if you are an artist looking to have an overseas audience, then Amazon may be something you want to consider.
The reason you want to learn this as your first way to make money online is because as soon as you have an affiliate link you can use it immediately to start earning passive income.
You want to get into the habit of using these affiliate links each and every time you post….anywhere and everywhere you are legally allowed to use them.
I often say that affiliate marketing will revolutionise the world as soon as mainstream consumers and business owners get easy to use affiliate marketing technology…because from that point forward people will be rewarded for every time they recommend their favourite businesses or products, rather than just the ones they make money from, which is how Amazon has climbed to world dominance and stripped sales away from local communities and businesses.
As people worldwide were instantly approved to be paid for recommending products through Amazon, it generated massive power to Amazon, and took that power away from all other businesses who couldn’t offer that same reward or kickback that Amazon could.
Basically if Amazon were going to pay you for recommending anything in their inventory, then why would you recommend the local store who didn’t give you anything at all?
It was this shift from the technology associated with something so small as affiliate marketing that revoulutionised the world of retail in the last 10-20 years.
Now today in 2021, we want to openly acknowledge how this shift of power has occurred and see if it can be swung back to main street, small business owners, independents and locals, and a great way to do that is by opening up conversations about affiliate marketing, and encouraging people to consider alternate companies rather than simply jumping on the Amazon bandwagon each time.
So your task for today, is:
Research a company you would be proud to be aligned with that does affiliate marketing in the country you are in.
A great way to start is by typing the following words into google:
Affiliate marketing companies <insert your country>
For me, my search would look like this:
Affiliate marketing companies Australia.
You are NOT signing up for anything today. All you are doing is seeing if you can find a company you want to be aligned with (so their core values and your core values match up) PLUS making sure they are available in your own country (so Australia in our instance).
See how you go, and if you get stuck, yell out and I will help you as best I can, and if you want some more information, check out The Garden’s page on affiliate marketing here:
Lots of love