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This episode is sponsored by HostGator.
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If you create content of any kind, you should consider affiliate marketing as an income stream.
If you recall, we discussed affiliate marketing in Episode 4 as one of 18 passive income streams.
Last week, I touched on Amazon Associates which is Amazon’s affiliate program. It’s one of, if not the oldest one on the Internet. It’s also very easy to join and get approved barring any restrictions based on your location.
As I said then, I think anyone who is eligible should join and promote the products you use personally.
I feel the same way about affiliate marketing as a whole. It’s very little extra work to apply, grab a link, and include it in the content you’re already creating.
So, how should you go about that?
That’s what this episode is all about!
How To Find Affiliate Programs
How do you know which products to promote?
How do you find affiliate programs?
How much can you make?
I’ve got all of these answers and more for you!
The first thing you want to do is brainstorm. Think about the products and services you use personally. It can be software, services, or even your computer make and model. Make a list.
I’ll use The Candid Cashflow Podcast as an example. This episode is sponsored by HostGator. I use HostGator to host both my websites and also a few for some of my clients.
I chose them for their speed and reliability, and have had a positive experience.
So, a few weeks ago, I checked to see if they had an affiliate program. Boom! Here’s my link!
Finding Programs for the Products and Services You Use
Start with your list of the products and services you use. A simple Google search should reveal any affiliate or referral programs available for each.
Don’t dismiss referral programs. Sometimes they can pay cash just like affiliate programs. For example, Episode 6 was sponsored by Simple, an online bank that I use. Their referral program pays $20 the first time your referral uses their Simple debit card.
That’s not too shabby in my book.
Applying for Affiliate Programs
Once you find out which products and services have affiliate or referral programs, the next step is to apply.
There’s no real standard application process. They all vary from place to place. Even so, they all tend to want the same information:
- Who you are
- Your business name
- Your website
- How you plan to promote the product or service
In addition, affiliate programs have varying guidelines, so be sure to read their fine print. Some programs will allow you to promote via Social Media, while others won’t.
You can totally apply as an individual or as a business. If you apply as an individual, use your name as your business name, and your social as your tax ID.
The best way to get approved is to be honest about how you plan to promote the product or service.
For example, when I apply, I tell them that I promote via my podcast and blog. I use SEO and Social Media to drive traffic to both. I also send out a newsletter.
Nine times out of ten, I’m accepted with no problem.
How Do You Get Paid
Most affiliate programs pay quite well. Check out one of Michelle Schroeder-Gardner’s income reports over at Making Sense of Cents. She makes like 30 grand a month from must promoting Bluehost because they pay $65 per sign-up.
The downside is that most of these programs only pay once per month for the previous month. Getting paid can be the result of a bit of a wait, but if you’re making a good chunk of change, it doesn’t matter in the scheme of things.
Other Opportunities for Affiliate Marketing
There are other opportunities out there as an affiliate. Clickbank’s Marketplace has eBooks, courses, software, and more that you can promote to your audience based on niche.
In Episode 11, I shared a short list of affiliate networks like ShareASale that have a ton of different merchants. You can often find as many programs as you want through just one site like Clickbank or ShareASale.
Finally, if you provide a product or a service, do you have an affiliate program? You don’t?
Well, you wouldn’t have a car dealership with no salesmen, would you?
As with most things, WordPress make this possible and simple with a plugin.
If you don’t have WordPress…well, why not and you can use a service like LeadDyno.com to manage your affiliate program.
Why wouldn’t you want a small army promoting your products?
That’s a Wrap
Affiliate marketing offers a bunch of great opportunities to make a lot of money both actively and passively.
It’s easy to add it as a passive income stream to whatever you’re already doing.
If you want to discuss it further, leave a comment below.
I hope you will consider subscribing to The Candid Cashflow Podcast. You can do so in your favorite app at HeyYoAva.com/CandidCashflow.
I’d love to hear from you! Thanks for listening!
Until next time…turning your passion into cashflow!