Imagine for a moment you have your own personal army of a thousand little you’s running around, selling your products for you, and making bank — while you never even have to lift a finger.
Well, that’s what an affiliate program can do!
While I was off getting married, buying a Tesla, and moving to an entirely different state… I didn’t have to give my business a single thought in the world. I didn’t have to worry about how I was going to drive traffic to my shop or how I was going to make sales.
Nope, I actually had some amazing affiliates selling my digital products for me. That’s right, NO work is involved on my end, even during our second biggest sale of the year. I got to enjoy a new chapter of my life while my amazing affiliates (and team) took care of it all.
You may be doubting that it’s possible for you, but that just isn’t true. You can set up your own affiliate program and earn money in your sleep, just like I’ve done. I’m showing you four secrets to making it happen below.
It’s simple — affiliates are individuals or brands connected to your biz in one way or another and benefit from promoting your offers, typically by earning a commission off each sale. They’ll share your product with a promo code, discount, or with other incentives like add-ons.
Once the sales roll in, a percentage of that sale then goes to your affiliate — typically ranging between 10% and 50%, depending on the value of the product.
It’s a solid tool for small business owners and solopreneurs because when resources and budgets are limited, it’s a cost-effective way to make some bank.
The first thing you need to do is to create a framework for how your program will operate.
Will you pay your affiliates by commission per lead or per sale? How will they get paid? Will it be a flat fee or percentage?
You also want to consider timing and how long the process from referral to payment might take. Many programs require referrals to be purchased within 60-90 days to get a commission, but you can decide whatever time works best for your business.
To keep things running smoothing, provide your affiliates with unique links that are specific to them and only them. This gives you an easy way to track where sales are coming from, so when it’s time to get affiliates paid out, you’ll be spending less time crunching numbers.
There are tons of different affiliate trackers and they can all help you determine what’s working and what isn’t. These plug-ins show you where money is coming from and they can also show your affiliates the same —- eliminating the headache that manual tracking is. Tracking with links removes the hassle and helps build and keep trust by mitigating errors.
The key to any good affiliate program is finding the right people. Affiliate programs are about quality, not quantity. You want people who have an audience with an interest in your product because it not only benefits your sales but theirs too (helloooo cold hard cash!).
You don’t want to just accept anyone into your program. You’ll need to create an applicant system and sort through what you receive to find the best fits.
Affiliates can be a huge part of your success. I’ve seen them work for plenty of businesses — my online shop The Contract Shop® included. We have well over 1,200 affiliates, and roughly a third of them are active. This means we have hundreds of people driving sales every single week. And we never have to lift a finger.
So building connections and getting the right people in your corner is a must!
I get asked a lot of questions about affiliate marketing, but none as much as “How do I find people for my affiliate program?”
While there isn’t a one-size-fits-all answer to that question (because it will vary greatly depending on your niche) these are two of the best practices I’ve seen work repeatedly.
You need the right people to promote your product, but that doesn’t always mean a big name will do it. If an influencer is well-known but has no use for your product, and neither does their audience, you can kiss the sales goodbye.
You’re much better off finding micro-influencers that have a small but mighty community, making it easier to generate genuine hype around your product.
That’s what we’re all there to do anyway, right?!
Tap into your social media community — it’s a valuable network that you already have. Invite your followers to learn more about the program. Offer opportunities to test your products or other forms of incentives for the first few affiliates to try out your program.
Alternatively, you can look to your customers to find people who adore your products and will gladly promo them! The best part? They’ve already used them and can speak to how they have been a benefit.
Work smarter, not harder, ya know?
Launching your first affiliate program is a big step! If you’re ready to make consistent, predictable income without overloading your calendar, take a look at my Simple Sustained Shop Sales™ System.
Along with affiliates, this course will show you 8 different strategies that helped me scale my digital product shop into a 7-figure business. You’ll learn how to make a product that sells itself, how to promo them online, how to build your affiliate community, and ultimately, supercharge your sales!
Let’s make this thing a bit easier on you, shall we?