In the world of affiliates there are two options. You can be an affiliate or you can have affiliates. Both offer the opportunity to boost your income. However, one may be much more lucrative for you than the other. Let’s start by talking about what an affiliate is and then we can explore the more lucrative option.
What is an Affiliate?
An affiliate is someone that is connected to a larger entity. An affiliate represents you. Or if you are an affiliate, then you would represent another organization. Let’s take the example of a skincare specialist.
This specialist can be an affiliate for a number of cosmetic and skincare companies. They promote products, and when their website visitors buy one of those products they earn a commission. This skincare specialist can be an affiliate for a number of companies. They promote the products, they don’t sell them.
Making Money Through Affiliates
As a business owner you can be an affiliate for relevant products or services. This can be a simple way to add to your bottom line. However, if you really want to make more money and you’re focused on growing YOUR business, you can build an affiliate team. You can pay people to promote your products or services. In addition to making more sales and ultimately increasing your profits, there are a number of benefits to an affiliate program.
Benefits of an Affiliate Program
An affiliate program is an organized and structured branch of your business. You build your team, offer incentives, and support them with marketing materials, and they in turn promote your products or services. For your efforts in supporting your affiliate program and building a strong program you:
- Increase Awareness – Each affiliate is a marketer with their own audience and reach. Your business products or services will reach a much wider audience.
- More Traffic – As your affiliates promote your business you’ll increase the traffic at your site. While some of these new visitors may result in immediate conversions, others may join your mailing list or become subscribers and followers. You now have their attention and they may become customers down the road.
- Word of Mouth – Many of your affiliate marketers will be past customers. They often make the best affiliates because they’re excited by what you have to offer. They truly will become your biggest asset as they spread the word about how your business changes lives. And they have their own personal story to share about their path and process. Word of mouth marketing is powerful marketing.
One of the reasons many people avoid creating an affiliate team is because it can be a bit of work. You want to make sure that you have a program that supports your team to succeed. You want to attract the best affiliates and give them the materials they need to promote you effectively. A virtual assistant can be a great asset. They can manage your affiliate program so you don’t have to lift a finger.
Have you ever thought about starting an affiliate program? What held you back? What do you need to take the next step?
