If you’re looking to add a new revenue stream to your business, let me just take a quick moment to climb atop my soapbox and advocate for becoming an affiliate for a moment!
(Before we get into that, I just want to be super clear about what I mean by being an affiliate.)
What does being an affiliate mean exactly? It means you promote other people’s products and services and make a commission, or portion of the sale, when a purchase is made by someone you recommended!
I loveee being an affiliate!
Affiliate income is the second biggest revenue stream in my business and I couldn’t be happier about that. Why am I such a big fan exactly?
I get asked ALL THE TIME from my audience about stuff which is completely outside my wheelhouse and area of expertise. I get asked for copywriting advice, CSS code, website legal terms and conditions help and more.
Am I an expert in any of those areas? Nope!
Would I be doing a disservice if I created a product on one of those topics (seeing that I’m NOT an expert in any of them?) You bet.
If deep down we know we’re really not an expert on a topic, it wouldn’t be right to create a product on it and sell it to others.
It’s like the person who barely made 6 figures last year who is now selling a program teaching you how to make 6 figures.
Unethical? Yes. Destined to fail? Also yes.
But what are you to do when you’re asked for the 23rd time that month for help with website building, or copywriting, or coding, none of which you feel like the expert in?
Become an affiliate for a product from the expert on that topic!
If creating a product on a topic feels wrong to you, either because you know you’re not experienced enough in that area or because it just doesn’t fit with your business direction, or even if you just straight up don’t want to create it for whatever reason, then good news, being an affiliate is a perfect fit for you!
Going back to my example of not being an expert on a topic… I can find my way around some code just fine, but writing and manipulating it? Not my strong suit.
I am without a doubt, not an expert at CSS.
But do you know what I’ve been asked for time and time again by my audience? To create a CSS course.
The demand is definitely there, I just know I shouldn’t be the one to fulfill that demand with my own product.
If I created a CSS course, I know it wouldn’t be the best out there because I’m not so strong with CSS myself.
But if I did my research, poked around into the other CSS courses out there and found what I consider to be the best, taught by the expert and then recommended it as an affiliate to my audience, that’s truly a win-win-win.
My audience gets the best possible CSS course
I get to promote a product I truly believe is the best out there
The course creator gets introduced to new students
If I created the course, my students would get a mediocre course, I’d be promoting something I didn’t feel confident in and that other course creator wouldn’t be in the picture at all.
See why it’s a real benefit to promote the best possible product out there?
When you become an affiliate for a product, you can fulfill the desires that your audience is communicating to you, say providing fabulous CSS education, but that doesn’t mean you actually need to be the one to create the thing.
Creating a product takes time y’all. We’re talking months!
Then after creating a product, you need to deal with the setup of the sales page and the payments tech, handle customer service, chasing after customers for failed payments, and finally updating your product when necessary.
Depending on what your product is, this updating piece could be a lot of work.
For example, I affiliate for The Creative Law Shop, a legal template shop. (You can use the code PAIGE10 at checkout for 10% off any purchase btw!)
When laws change, such as GDPR or the new California privacy laws, the owner of the template shop needs to rewrite and update her legal templates to be up to date.
When you’re an affiliate however, you are free from fulfillment, customer service, managing tech problems, and updating a product. All you do is connect the customer to the product and the product owner takes care of all the rest.
It’s truly one of the most hands-off, easiest revenue streams to have in your business!
So if your current revenue streams take up a lot of time or effort on your part and you’re afraid to add a new revenue stream because it’ll just be adding more work to your plate, become an affiliate!
If you’re a service-provider and you’re currently fully booked, you really can’t make any more sales, because you don’t have the capacity to fulfill those sales. Which means you need to slow down on the sales front until you can do all the fulfillment.
And remember what we said about the fulfillment as an affiliate? You don’t need to do any!
Meaning even if you’re fully booked in your business and have therefore hit your income ceiling, you can push the income ceiling higher by making affiliate sales!
Alternatively, if you’re like me and just sell digital products and no services, there’s no limit on how much you can sell. BUT, we can’t and don’t want to be doing sales 365 days a year.
We do open & close sales for our courses, meaning they’re only open to be enrolled in a few times a year. This means easier fulfillment for us, more sales (the urgency of only being able to get in a couple times a year creates this) and myself and my team can actually take time off for a vacation or working on other projects.
So in short, we love open and close sales.
Granted, in a year, we only have 4 weeks of sales, and the other 48 weeks of the year, we have a lull in sales.
Which is another reason I love to be an affiliate! I can still generate income in my business in a period of time that would otherwise be slow as it’s not our course enrollment weeks.
So no matter if you’re holding off on sales of your services because you can only fulfill so many orders, or you have your own products and want to promote affiliate ones in your “off” weeks, affiliate income is the perfect way to raise your income ceiling for the year!