Being in business for yourself and working hard at it is exciting and empowering, but wouldn’t it be nice if there was another way you could make additional income…without working so hard?
Well, surprise! There is! And it’s called affiliate marketing, though some people refer to it as passive income.
What is Affiliate Marketing?
If you’re a business owner, affiliate marketing simply means receiving commission every time you recommend another business’ product or service to your already existing clients or even to your prospects, which turns into a sale.
If a prospect doesn’t sign up for your online course, coaching program, or service, you can encourage them to purchase someone else’s product or service simply by sharing a referral link. If the prospect makes a purchase, you earn a commission!
Not only that…
This exchange will also build trust with the prospect because you were resourceful for them, and at the end of the day, you are the one that helped them solve their problem. Maybe you’re not an expert in what they are looking for today, but you might be tomorrow!
And the best selling is selling things that you already use yourself and that you actually enjoy. That’s why your friends are willing to try things such as the running shoes you keep talking about or the restaurant you recently went to and loved.
The How
I know you’re probably thinking to yourself, “Okay, okay. This sounds simple enough but do you actually earn money doing this? And if so, HOW?”
Let me give you an example of how I’ve incorporated affiliate marketing into my business.
On my website navigation menu, I have a link called “Tools” because that’s exactly what they are; they are tools that I use in my business.
I’m a business owner, so the best thing that I can do for my clients is sharing how to run their business in the best way possible, with the best tools possible.
As I’ve developed my business, I’ve had to test various tools to see if they could help me do a better job.
On my webpage, I only ever provide information on products that I am personally using, and I am all about transparency. I want everyone to know that. And that’s why I’ve written it directly on my website:
“My promise to you is that any program that I list below is just one that I am actively using in my business. Many of these links are affiliate links, which means that I may get a commission if you purchase. However, none of the fees for these resources have been increased to compensate me. In fact, many of the creators of these tools have given me a special discount that I get to extend to you!”
I earn a commission every time my client or prospect purchases one of these tools. And I help them find what they need to grow their business. Awesome!
There are many more examples of how you can use affiliate marketing to build up your income, and I’m positive you will find one that will fit right into your business like a missing puzzle piece.
