When I was new to Affiliate Marketing, I totally psyched myself out of it.
I signed up for a few affiliate programs, I don't remember which, and I tried to promote them here and there and not surprisingly, I didn't do well. (Meaning I didn't make any sales.) I chalked it up to the idea that I was ‘too small' to be an affiliate marketer.
It was true. I had a small website with small traffic, a small circle of influence and a small amount of patience ;) Oh – and quite a bit of small thinking!
When I entered into my first real partnership, she (Alice Seba) asked if I'd like to split affiliate commissions on the services and products we recommended within the membership. I said ‘Nah'. I thought it wouldn't be enough money to be worth the trouble. I don't know how many times I had similar faulty thoughts about it – but I do know it was a full year later that I finally woke up and realized what I was missing out on.
I started promoting a few highly relevant affiliate programs like Aweber and those that offered good info products. Of course I dabbled with Amazon too. Amazon never earned me more than $30 a month that I can remember – but the other programs started to produce results… slow at first – very slow – but this time I had more patience. I stuck to it, kept promoting learned from what worked and what flopped.
By the time I quit my day job in 2006, affiliate commissions represented about 30% of my overall income – much of that residual. (At the time that came to around $10,000.)
Spoiler: I'm going to teach you what I know about getting started a an affiliate when you sign up for Affiliate Beginner's Challenge!
Residual, I LOVE that word!
The person (Lynn Terry) who first referred me to Aweber continued to earn commissions on my quarterly payments for 15 years, adding up to about $1000. Can you imagine how many people she's referred over the years?
By the way, last year I started using Active Campaign, taking Cindy Bidar's recommendation. So now she's earning lovely residual commissions from me!
Recommending tools that people will use over the long term is a fantastic residual affiliate opportunity, IF the residual commissions are offered. Things like Email Management and Hosting are ‘must have' tools for all marketers.
Speaking of Hosting, most Hosting company affiliate programs are not residual :( They pay out a lump sum and that's that.
When we planned out the Mom Webs Hosting Affiliate Program we knew we wanted to break that mold and offer a residual program. We pay affiliates a 20% commission, residual for the life of the client.
You refer a new hosting customer who signed up for the $10/month multi-domain hosting plan. You earn $2 for their first month payment. Small potatoes compared to the $50-$65 that other programs will pay out to you, right? Ok – well, let's look at the long term. That customer earns you $24 for the year – and another $24 every year after. (And most hosting clients DO stay for the long term.) If you make my early mistake and only think about the short term, you'll choose the big bucks fast. But if you're smart like I am today, you'll choose the residual option and be earning year after year.
This math gets more interesting when the customer you refer chooses our $20 plan or one of our VPS plans.
The $20 plan earns you $48 per year.
The lowest cost $50 VPS plan earns you $120 per year.
This is when a recurring affiliate commission program ROCKS.
If you reach people who have multiple websites or those who are ready to invest more to safe guard their web properties – you'd be leaving money on the table to refer them to one of the ‘one payment only' programs.
Ready to Boost Your Affiliate Income?
I sure hope so! I know I am. I'm going to shake off the ‘oh but so many other people are promoting it‘ small thinking that I've been guilty of and just go for it.
- Seek out new programs.
- Ask around your niche and find out who your contemporaries are earning from.
- Go back to the programs you've earned from in the past. (If you made one sale, you can more more.)
- Be creative and be purposeful!
Affiliate marketing in your sidebar will never work like you hope, you have to intentionally promote the tools and resources that you believe your people need. If you'll go the extra mile, you might surprise yourself!
If you've dismissed affiliate marketing in the past, will you give it another go?
You Can Always Partner With Me
My affiliate program rocks – all of my Super Affiliates tell me so.
I have small cost products, mid cost products and high end products. I have a low cost membership and a high cost membership.
I pay a 50% commission on my info products and memberships. I pay a 30% commission on my group coaching programs.
I hope to see you in the Affiliate Beginner's Challenge!