Affiliate Marketing is one of the best ways to get started in building wealth online.
In this video I'm going to tell you....exactly what I look for when I am considering promoting affiliate products. Am I looking for products? Software? Services or what?
What Is Affiliate Marketing?
Now for those that aren't quite sure what affiliate marketing even is, affiliate marketing is nothing more than promoting someone else's products or services to a given market.
Think about it like a car sales person. They do not own the car. They did not create the car. They are just selling it and making a small commission from the sale of the car.
That is essentially what we are doing in affiliate marketing.
Affiliate marketing is fantastic because you can get setup pretty quickly and you can make some really good money with affiliate marketing.
But what do we look for in a product or service?
Some people like to promote Amazon products.
They get people to purchase books on Amazon, or camera gear, or a number of various products.
Lot of people like this because if someone clicks on an affiliate link of yours, even if they don't buy that product and purchase something else on Amazon, you still get a commission for what they purchased.
I personally don't market a ton of Amazon products right now, and Amazon actually just cut their commissions in half.
The reason I don't market Amazon products so much is because the commissions are super small, and they are not recurring.
These are 2 of my biggest requirements when identifying Affiliate products/services.
Let me actually go over what my requirements are for affiliate products or services.
My First requirement when looking at a product or service is:
I need to have used it in the past or currently use it. Or if it is a product or book or something I have to have used it and experienced it in some way.
This keeps me honest.
I refuse to market something I don't know anything about. Even if it would give me a huge affiliate commission, I wont do it.
Way to many marketers out there are promoting stuff they have never tried or had any amount of knowledge about.
Going on places like Clickbank, Share-a-sale or other affiliate networks searching for whatever is selling big right now and marketing that.
That is a great way to ensure your customers realize you don't care about their needs and about helping solve their real issues.
If you are doing that crap. STOP!
As an affiliate marketer, I am recommending things to people I think will truly be useful in their lives.
If I don't know the first thing about a service or product besides what I have read on their website or on the affiliates marketing page, I am not going to be able to help anyone.
People that do this drive me mental.
Long story short, only recommend stuff you know and use or have used in the past.
Ok my number 2 requirement is:
It needs to be a pretty good paycheck. I typically like to look for commissions that are at least $100.
This is another reason I don't do a lot of Amazon type affiliate marketing.
I might recommend something from Amazon and only get a commission of $0.27. No kidding.
Only time I go under this is if I REALLY believe in the product or it's a recurring software. which I'll talk more about in a minute.
If I honestly believe the product is worth it to my "Social Friends" (aka: my audience), then of course I will recommend it.
Let's take Pat Flynn's Power Up Podcasting course or example.
I truly believe his courses are extremely valuable for those wanting to start and build a podcast up.
So I recommend them to everyone.
And, If you are interested in starting and running a successful podcast, consider checking out Pat's course as well, links in the description below.
My number 3 requirement is that it is recurring revenue.
I would go and say 97% of all affiliate things I market are some form of recurring commission.
I really like to market SaaS companies that I use myself.
An example of this could be Thinkific.
I love the Thinkific platform.
Thinkific is a platform to host all your course content and membership on.
It's simple to use, and very powerful.
I use it myself to host all my courses and memberships.
And because I use it and know the value of it, I recommend it to others that it could fit into their businesses.
And if I recommend it to someone, and they sign up for it, I get a commission from that sale.
And the best part is, I get that commission month after month as long as that person remains a customer with Thinkific.
So let's say you sign up to be an affiliate for a software company like Thinkific or something else, and you make only a $39 commission from it.
If you make that every single month, that is $468 per year on that one sale as long as that person stays on board with that software. Which btw, is very likely.
Now let's say you make just 10 sales on that software. Thats now $390 per month you are making. Or $4,680 per year.
Now you start to think about other software's and services that are recurring that you can recommend.
You come up with a list of 5 other services. And make 10 sales from each of them.
If they are the same commission, you are now making $2,340 each and every month.
The $390 per month from the first one, and now $390 per each of the additional 5.
That is an EXTRA $28,080 per year.
That is more money than a huge population of people living in the states make in a year.
And all of this is based off of just 6 services, and only 10 sales each. Not to mention the low commission of just $39.
Which, btw, for a SaaS or recurring service, that is perfectly acceptable. Because it's recurring.
Now, if you want a detailed explanation of exactly how I do affiliate marketing step by step, click the below. It will help you get started in affiliate marketing today.